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☆ The 10 U.S. cities where renters' incomes go the furthest—No. 1 is in California
▼ + stars: | 2024-02-17 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

"It's very affordable," Lucas says. In Surprise, the average monthly rent is $1,781, only slightly higher than the national average. But similar to Sunnyvale, the median annual income among renters is also higher at $86,236, helping make it a relatively affordable place to live. RentCafe's study compared median incomes among renters in 189 U.S. cities with local average rent prices to see where renters can get the most out of their money. Here are the top 10 U.S. cities where renters' incomes go the furthest, according to RentCafe.

Persons: Shalonda Lucas, Lucas, she's Organizations: CNBC, Census Locations: Surprise , Arizona, U.S, California, North Phoenix , Arizona, Sunnyvale , California, RentCafe's, Sunnyvale

☆ Starter homes may be a thing of the past — millennial and Gen Z homeowners plan to stay put for nearly 2 decades
▼ + stars: | 2023-07-12 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

For millennial and Gen Z homebuyers, purchasing a starter home may be a thing of the past. A starter home is usually the first home a person or family is able to purchase. Currently, nearly two-thirds of all homeowners have mortgage rates at or below 4%, according to Black Knight, a mortgage software and analytics company. Affordable homes are hard to findAs of May, the typical starter home cost about $179,407 nationwide, according to Zillow data provided to CNBC Make It. But between 2017 and 2022, the number of millennials who own their homes increased 64% to 18.2 million.

Persons: Z, Jessica Lautz, Freddie Mac, Black Knight, Jeff Tucker, Zillow, Lautz, Young, Zers, millennials Organizations: National Association of Realtors, CNBC, Bank of Locations: U.S

☆ The 10 worst places in the U.S. for renters
▼ + stars: | 2023-06-29 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

To determine the best and worst places for renters, RentCafe ranked 136 U.S. cities on metrics ranging from average apartment size to local unemployment rate to influx of new business. While the best cities for renters offer strong local economies and sizeable apartments at reasonable prices, the worst cities for renters leave much to be desired. Detroit is the worst city for renters, the rent comparison website found. Outside of Detroit, however, you'll find most of the bottom-10 cities for renters along the coasts — especially in the Northeast. Here are RentCafe's worst cities for renters.

Persons: RentCafe, —, you'll Locations: Detroit

☆ The 10 best cities for renters that offer affordable homes, good job markets and plenty to do
▼ + stars: | 2023-06-25 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

In fact, nine of the top 10 cities RentCafe ranked are located in the South, including four cities in Texas. Here's a closer look at some of the metrics included in each category:Cost of living : Includes local rent prices, grocery and utility costs, average apartment sizes and occupancy rates. : Includes local rent prices, grocery and utility costs, average apartment sizes and occupancy rates. Quality of life: Includes apartment locations, school quality and average commute times. While the cost of living metrics carried the most weight, the best places for renters perform relatively well across all categories.

Persons: that's, RentCafe, — Organizations: D.C, RentCafe Locations: New York, Los Angeles, Washington, South . Charleston , South Carolina, RentCafe, Texas, Here's

☆ More millennials now own their own home than rent one, leaving Gen Z the only group where most still have a landlord
▼ + stars: | 2023-04-02 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

More millennials now own their own home than rent one, according to RentCafe analysis. Gen Z is now the only group with more people renters than property owners, per RentCafe. They come after Gen X and before Gen Z, or those born between 1996 and 2012. Gen Z, however, is still renting, accounting for about 5.6 million households, or almost three-quarters of the cohort. Home ownership in the US remains dominated by Boomers – those born from 1946 to 1964 – with 32.1 million owners, followed by Gen X with 24.4 million home owners.

☆ The top 3 U.S. cities where new rental apartments have gotten smaller—and NYC isn't one of them
▼ + stars: | 2023-03-11 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +2 min

The share of one-bedroom and studio apartments grew to 57% of new apartments in 2022, up from exactly half of new builds 10 years ago. That's part of why the average size of all apartments has shrunk. Cities where new apartments have gotten smallerNew Yorkers may be the first to tell you how small their living spaces are. Tucson, Arizona, leads, the pack, and its new apartments beats the next city's — Tallahassee, Florida's — growth by over 100 square feet. The average new apartment size grew the most in these 15 cities:How to get the most out of your space

☆ Apartment conversions jumped 25% over the past two years, meaning that swanky place you're renting likely used to be an office space, hotel room, or church.
▼ + stars: | 2022-11-08 | by ( Robert Davis | ) www.businessinsider.com time to read: +4 min

Developers converted more old buildings into rentals than ever before between 2020 and 2021. Developers are targeting a range of building types, from office buildings to churches. That represents a 25% increase over the more than 22,300 apartments developers converted between the years of 2018 and 2019, prior to the pandemic. "Larger office buildings in abandoned central business districts are better suited to conversion than the often-smaller office complexes distributed around the suburbs." Local governments have gotten behind the trend by creating incentives for conversion projects.

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