You need a $58K salary to afford rent in the San Antonio area
You have to earn more than $58,000 per year to afford the typical monthly rent in the San Antonio area, according to a new Zillow report.
Why it matters: That's about 19% higher than what a San Antonio household would have needed to earn five years ago, per the analysis.
What they did: Zillow assumed that rent should take up no more than 30% of household income — a common standard for calculating affordability.
Zoom in: By that measure, affording the typical San Antonio-area rent — which came in at $1,465 in April — requires an annual income of $58,590.
The big picture: San Antonio has the lowest rents — and requires the lowest income to afford them — among major Texas cities.
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NBC Sports
3 hours ago
- NBC Sports
LINCOLN FINANCIAL NAMED PRESENTING SPONSOR OF EPIC GOLFPASS DOCUSERIES CHRONICLING RENAISSANCE OF PHILADELPHIA'S HISTORIC COBBS CREEK GOLF COURSE
'Cobbs Creek Rising: Headwaters to Horizons, presented by Lincoln Financial' will Follow the Massive Renovation Project Designed to Bring Philadelphia and Golf Communities Together Part 1 of the Three-Part Series Premieres Today, Streaming Exclusively on GolfPass; Airing on GOLF Channel on Tuesday, June 17 at 7 p.m. ET Docuseries Features Interviews with Golfers, Philadelphia Community Leaders and Visionaries to Tell the Story of Rebirth ORLANDO, Fla. (June 5, 2025) – Lincoln Financial (NYSE: LNC), a trusted provider of retail life and annuity solutions and workplace benefits, today was named presenting sponsor of the epic GolfPass docuseries that will chronicle the $150 million golf renaissance that is turning a century-old public course into a destination for learning and recreation. Part 1 of 'Cobbs Creek Rising:Headwaters to Horizons, presented by Lincoln Financial,' will stream exclusively on the GolfPass website and mobile app starting today and will make its television debut on GOLF Channel on Tuesday, June 17 at 7 p.m. ET. The three-part, original GolfPass production will tell the story of how a group of Philadelphia-area visionaries, with support from founding partners like Lincoln Financial, shouldered the task of bringing one of the country's premier municipal golf courses back to its original glory while transforming the area into a dynamic education and recreation campus for the community. Earlier this year, Lincoln Financial announced its landmark partnership with the Cobbs Creek Foundation to further the advancement and development of infrastructure and programs at the Cobbs Creek Golf and Education Campus, currently under development in West Philadelphia. The partnership signifies a shared long-term commitment to the Philadelphia community, providing innovative programming, including financial literacy programs for all through Lincoln and the company's philanthropic arm, the Lincoln Financial Foundation, and access to state-of-the-art facilities at the Cobbs Creek Golf and Education Campus and the Smilow Woodland TGR Learning Lab. 'Lincoln Financial is proud to be a part of the renaissance of Philadelphia's historic Cobbs Creek Golf Course, furthering our commitment to strengthening our local communities while empowering individuals and families to pursue the financial futures they want and deserve,' said John Kennedy, Chief Distribution & Brand Officer. 'A natural extension of our partnership, we are honored to help bring this powerful docuseries to life and to be part of a transformative project that will have a lasting impact on Philadelphia and beyond.' 'Lincoln Financial is playing an integral role in the development of the new Cobbs Creek Golf and Education Campus and we're thrilled the company has signed on as the presenting sponsor of Cobbs Creek Rising: Headwaters to Horizons, presented by Lincoln Financial,' said Justin Tupper, GolfPass Senior Vice President of Content Strategy & Creative and Executive Producer of the Cobbs Creek docuseries. 'Their commitment to the community and rebuilding the Cobbs Creek legacy is inspiring and we're excited they'll be supporting our docuseries, so we can share this transformative and uplifting story with the world.' 'We are incredibly excited to see the past, present and the future of the Cobbs Creek golf course come to life in this series,' said Jeff Shanahan, President of the Cobbs Creek Foundation. 'Cobbs Creek Rising: Headwaters to Horizons, presented by Lincoln Financial is a celebration of the passion, perseverance, and community spirit that have driven our mission from the beginning. 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Yahoo
5 hours ago
- Yahoo
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With the FARE Act set to shift the costly burden from renters to landlords, I've been reflecting on what the system actually offered me and other New Yorkers. In 2022, when I made the decision to move to New York City from New Haven, Connecticut, I was told that finding a place to rent for the first time would be a shock to the system. But after months of research—and an unholy amount of time scrolling Zillow, StreetEasy, and Craigslist—I finally found a listing for the perfect apartment. It was on the Upper West Side, within walking distance of my new job. It was a "one-bedroom flex," meaning my wife and I could set up a work-from-home space to accommodate our hybrid schedules. And it was beautiful: tucked atop a prewar, south-facing townhouse—with high ceilings, exposed brick, an ostensibly working fireplace, and a pretty incredible semiprivate rooftop terrace featuring views of 18 water tanks (I counted) that felt straight out of an Edward Hopper painting. The only problem was that the unit—listed at $3,850 per month—was nearly double what I had ever paid for an apartment before. Also, I hadn't fully internalized that New York is one of only two major U.S. cities where tenants are expected to pay a fee to brokers who are hired by landlords to show and fill their rental properties, which usually cost one month's rent or 15 percent of the annual rent, according to The City. (Though, because there is no legal cap on how much brokers can charge, there have been reports of brokers charging tenants even more exorbitant fees for highly competitive rent-controlled or rent-stabilized apartments.) The broker's fee for my apartment was 11 percent of the annual rent ($4,300), on top of the first month's rent and the matching security deposit. Now, the Fairness in Apartment Rental Expenses (FARE) Act—a landmark bill that shifts the burden of the broker's fee away from renters and onto the landlords who hire them, which Dwell contributor Anjulie Rao previously reported "could upend a hurdle in the city's notoriously difficult apartment hunting process"—is set to go into effect on June 11 (while the city's real estate lobby fights to block the law in the background). The FARE Act, introduced by Councilmember Chi Ossé of the 36th District and passed by City Council in November 2024, comes after years of thwarted attempts to reform the city's broker's fee system. So naturally, I've been reflecting on what I received in exchange for my compulsory broker's fee—and curious about the experiences of other New York renters. — I certainly didn't want to dip into emergency savings, but I suppose I wanted my perfect New York apartment more. 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And I was only a number." For other New Yorkers, forced broker's fees have acted as a barrier to renting altogether. Alex Sramek, a technical writer, first moved to New York in 2013, and was initially excited when he found an "unreasonably cheap" three-month sublet within a three-bedroom unit in Washington Heights. Sramek moved in and immediately hit it off with his new roommates. But three months later—when the sublease period was ending and the group identified another nearby apartment to move into together—they were told they would have to come up with about a 15 percent broker's fee, which they couldn't afford. "We ended up just splitting ways," Sramek says. "We each just sublet in different apartments and we lost touch and it was kind of the end of that." After years of bouncing around from sublease to sublease, Sramek eventually landed his own lease on a one-bedroom apartment. The catch? It was only possible for him after the New York Department of State issued guidance to pause forced broker's fees during the pandemic in 2020—guidance that the New York State Supreme Court overturned in 2021 after the Real Estate Board of New York sued. Ever since that brief reprieve, some New Yorkers have been waiting for a bill like the FARE Act to eliminate forced broker's fees once again. Tim Samuel, a software engineer in Astoria, who has paid two broker's fees in New York and describes them as "nonsensical," was excited enough about the legislation that he and some friends attended the City Council hearing at which the bill passed in November. "We were in the background, just supporting and being there…forty-two members out of the fifty-one voted yes." That tally was enough to establish a veto-proof supermajority, meaning supporters of the bill could feel optimistic about its becoming law. That optimism extends to the FARE Act's sponsor, Chi Ossé, who developed the bill after several poor encounters with brokers during his own apartment search in Crown Heights. Ossé kept asking himself the same question: "Do you really want one month's rent for this apartment and you're not even showing up and giving a guy a tour?" When I recently spoke with Ossé, he made a point to say that he isn't "anti-broker." In fact, he ended up hiring a broker himself and had a perfectly positive experience. But he is "anti-things not being fair" and takes issue with the fact that the fees are forced on tenants who never hired brokers in the first place. When I asked Ossé what greater fairness might look like as the law goes into effect, he emphasized what renters will gain: "This just makes mobilization around housing as a tenant in New York City a lot more affordable…and [it] gives tenants more bargaining power, which they don't usually have in the current system." To me, it looks a lot like the sketch of a better future. After years of giving up money and trust in the system, New York City renters are finally set to get something back. Top photo byRelated Reading: Will NYC Renters Finally See the End of the Dreaded Broker's Fee? What the Roaches in My Rent-Stabilized Apartment Taught Me About the Housing Crisis
Yahoo
6 hours ago
- Yahoo
Mortgage and refinance interest rates today, June 5, 2025: Bond rally sparks lower mortgage rates
Mortgage interest rates are down sharply today. According to Zillow, the average 30-year fixed mortgage rate fell nine basis points to 6.70%, and the 15-year fixed rate slipped three basis points to 5.91%. The 10-year Treasury yield fell 2% Wednesday. The 10-year tracks closely — with a 2% or more spread — to mortgage rates. It's down significantly for the week. If you're looking to lock your mortgage rate, keep a close watch on home loan rates day to day. If the trend continues, you may find a good time to trigger that lock. And watch that 15-year fixed rate — it's looking pretty attractive. Read more: Is now a good time to buy a house Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.70% 20-year fixed: 6.24% 15-year fixed: 5.91% 5/1 ARM: 6.67% 7/1 ARM: 6.97% 30-year VA: 6.30% 15-year VA: 5.64% 5/1 VA: 6.35% Remember, these are the national averages and rounded to the nearest hundredth. Learn more: How to get the lowest mortgage rate possible Have questions about buying, owning, or selling a house? Submit your question to Yahoo's panel of Realtors using this Google form. Here are today's mortgage refinance interest rates, according to the latest Zillow data: 30-year fixed: 6.75% 20-year fixed: 6.26% 15-year fixed: 5.98% 5/1 ARM: 7.03% 7/1 ARM: 6.98% 30-year VA: 6.32% 15-year VA: 5.94% 5/1 VA: 6.21% As with the purchase mortgage rates, these are national averages we've rounded to the nearest hundredth. Refinance rates can be higher than purchase mortgage rates, but that isn't always the case. Use the mortgage calculator below to see how various mortgage rates will impact your monthly payments. The free Yahoo Finance mortgage payment calculator goes even deeper by including factors like homeowners insurance and property taxes in your calculation. You can even add private mortgage insurance costs and HOA dues if they apply to you. These monthly expenses, along with your mortgage principal and interest rate, will give you a realistic idea of what your monthly payment could be. A mortgage interest rate is a fee for borrowing money from your lender, expressed as a percentage. There are two basic types of mortgage rates: fixed and adjustable rates. A fixed-rate mortgage locks in your rate for the entire life of your loan. For example, if you get a 30-year mortgage with a 6% interest rate, your rate will stay at 6% for the entire 30 years. (Unless you refinance or sell the home.) An adjustable-rate mortgage keeps your rate the same for the first few years, then changes it periodically. Let's say you get a 5/1 ARM with an introductory rate of 6%. Your rate would be 6% for the first five years and then the rate would increase or decrease once per year for the last 25 years of your term. Whether your rate goes up or down depends on several factors, such as the economy and U.S. housing market. At the beginning of your mortgage term, most of your monthly payment goes toward interest. As time passes, less of your payment goes toward interest, and more goes toward the mortgage principal or the amount you originally borrowed. Dig deeper: Adjustable-rate vs. fixed-rate mortgage — Which should you choose? Two categories determine mortgage rates: ones you can control and ones you cannot control. What factors can you control? First, you can compare the best mortgage lenders to find the one that gives you the lowest rate and fees. Second, lenders typically extend lower rates to people with higher credit scores, lower debt-to-income (DTI) ratios, and considerable down payments. If you can save more or pay down debt before securing a mortgage, a lender will probably give you a better interest rate. What factors can you not control? In short, the economy. The list of ways the economy impacts mortgage rates is long, but here are the basic details. If the economy — think employment rates, for example — is struggling, mortgage rates go down to encourage borrowing, which helps boost the economy. If the economy is strong, mortgage rates go up to temper spending. With all other things being equal, mortgage refinance rates are usually a little higher than purchase rates. So don't be surprised if your refinance rate is higher than you may have expected. Two of the most common mortgage terms are 30-year and 15-year fixed-rate mortgages. Both lock in your rate for the entire loan term. A 30-year mortgage is popular because it has relatively low monthly payments. But it comes with a higher interest rate than shorter terms, and because you're accumulating interest for three decades, you'll pay a lot of interest in the long run. A 15-year mortgage can be great because it has a lower rate than you'll get with longer terms, so you'll pay less in interest over the years. You'll also pay off your mortgage much faster. But your monthly payments will be higher because you're paying off the same loan amount in half the time. Basically, 30-year mortgages are more affordable from month to month, while 15-year mortgages are cheaper in the long run. According to 2024 Home Mortgage Disclosure Act (HMDA) data, some of the banks with the lowest median mortgage rates are Bank of America and Citibank. However, it's a good idea to shop around for the best rate with not just banks, but also credit unions and companies specializing in mortgage lending. Yes, 2.75% is a fantastic mortgage rate. You're unlikely to get a 2.75% rate in today's market unless you take on an assumable mortgage from a seller who locked in this rate in 2020 or 2021, when rates were at all-time lows. According to Freddie Mac, the lowest-ever 30-year fixed mortgage rate was 2.65%. This was the national average in January 2021. It is extremely unlikely that rates will dip below 3% again anytime soon. Some experts say it's worth refinancing when you can lock in a rate that's 2% less than your current mortgage rate. Others say 1% is the magic number. It all depends on what your financial goals are when refinancing and when your break-even point would be after paying refinance closing costs.
