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Yahoo
2 days ago
- Business
- Yahoo
Stearns County apartments for rent saw price decreases in May
Renters in Stearns County saw apartment listing prices decrease from April's average of $1,131, an analysis of new data from Apartment List shows. The average apartment listed for rent at $1,124 in May. Average listing prices in Stearns County are trending slightly downwards from April's $1,131 price, up 4.9% from this time last year. The data is inclusive of all bedroom sizes, from studios to three-bedroom units, so while it is a good indicator of how rents are moving in the area, it does not include single family homes for rent, said Chris Salviati, senior housing economist for Apartment List. One-bedroom apartments listed to rent at an average of $860, 0.6928% lower than April, when they were $866. Since last year, one-bedroom rental prices rose 4.9% from $820. Two-bedroom apartments listed for rent were 0.6595% lower than April at an average of $1,205, compared to $1,213. Since last year, two-bedroom rental prices rose 4.9% from $1,149. Statewide, Minnesota rental listing prices are on the rise from April's average of $1,332, at $1,340. In Minnesota, one-bedroom rentals were listed for an average of $1,183, slightly higher than April's average of $1,176. Two-bedroom rental listing prices are trending 0.6388% higher than April's average of $1,409 at $1418. In Stearns County, the average apartment listed for rent is 16% below the state average. One-bedroom rentals were 27% below the state average, while two-bedrooms listed 15% below. Nationwide, apartment rental listing prices slightly increased from last month's $1,392 to $1,398. One-bedroom rentals across the nation listed for an average of $1,228, just higher than last month's average of $1,223, while two-bedroom rental listing prices slightly rose from last month's average of $1,378 to $1,384. In Stearns County, the average apartment listed for rent is 20% below the national average. One-bedroom apartment rentals listed 30% below the national average, with two-bedroom rentals listed 13% below. The average apartment rental prices used in this report are gathered from Apartment List, which estimates the median rent using median rent statistics from the Census Bureau's American Community Survey and a growth rate calculated from their listing data. Read more about their rent estimate methodology here. The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Apartment List. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us. This article originally appeared on St. Cloud Times: Stearns County apartments for rent saw price decreases in May
San Francisco Chronicle
26-05-2025
- Business
- San Francisco Chronicle
Millennials are finally catching up with older generations in this important measure
Millennials are less likely to own a home than the previous two generations — especially in the Bay Area. But that may be starting to shift. Just 30% of millennials in the San Francisco metropolitan area owned a home in 2023, data from the U.S. Census Bureau shows. That put them far behind the 55% of Generation X and 62% of baby boomers who owned their home — an especially large gap compared with most other large metro areas. But older millennials are starting to catch up with their predecessors. Millennials born toward the earlier end of the generation's 1981-96 range — those in their early 40s — are achieving homeownership at nearly the same rate as Gen X did at the same age, at between 40% and 50%. Gen X is defined as people born from 1965 to 1980. That thinning gap is true for both the U.S. and California specifically, an analysis of census data by Apartment List shows. But both generations trail baby boomers, who were born from 1946 to 1964. And with home prices and interest rates still high, experts acknowledge that some millennials may feel left out of their peers' recent rise in homeownership. 'It's all going to be shifted later,' said Eric McGhee, a researcher at the Public Policy Institute of California. 'Your first home is going to be later in life than it did before, because it's going to take longer to save up for a down payment. (And) you're going to have a higher income to afford a mortgage.' The Census Bureau's Current Population Survey doesn't include people who live in institutions such as hospice facilities and nursing homes. That could make some baby boomers' homeownership rate seem somewhat higher than it truly is. But that generation was indeed much more likely to own a home than Gen X or millennials — especially in the most expensive parts of the country. In the San Francisco metro area, baby boomers are more than twice as likely as millennials to own their home. In the Minneapolis metro area, most millennials are homeowners, and boomers are just 1.4 times as likely as those younger neighbors to own their home. It takes people in California much longer than those in most other states to own a home, according to a 2023 report by the UC Berkeley Terner Center for Housing Innovation. That wasn't the case before the 1970s, when a wave of restrictive zoning laws in California led to a major slowdown in housing construction — even as its population swelled — and prices began to rise rapidly. Millennials and Gen X were also hit hard by the 2007-09 recession, causing some members of Gen X to lose their homes and leading to a weaker overall economy for millennials entering the job market, said Rob Warnock, a researcher at Apartment List. In other words, millennials may be catching up, but they're catching up to a generation that had homeownership struggles of its own. The pandemic was another blow for many millennials, also known as Generation Y. Some were able to buy a home before prices and interest rates surged, leading to a wave of wealth for the generation overall. But many others were left out — and could continue to be. 'Both of those things are true,' Warnock said. 'We see the generation growing (in homeownership). We also see the generation kind of falling behind.'
Yahoo
21-05-2025
- Business
- Yahoo
Housing Tracker: Southern California home prices largely flat in April
Southern California home prices are barely budging. In April, the average home price across the six-county Southern California region rose 0.4% from March to $884,981, according to data from Zillow. Compared with April 2024, values are up only 0.7%. Economists and real estate agents say a variety of factors are putting a lid on home prices, including high mortgage rates, rising inventory levels and economic uncertainty stemming from tariffs. Annual price growth of less than a 1% represents a sharp slowdown from where the market was a year ago. In April 2024, prices were up 9% from April 2023. If the Trump administration's trade policies push the economy into a recession, some economists say home prices could drop significantly. For now, Zillow is forecasting the economy avoids a recession and for home prices to decline only slightly. By April 2026, the real estate firm expects home prices in the Los Angeles-Orange County metro region to be 1.5% lower than they are today. Kara Ng, a senior economist with Zillow, said the expected small dip can be attributed to a rising number of homes for sale. As mortgage rates remain high, real estate agents say existing homeowners increasingly are choosing to move rather than hold onto their ultra-low pandemic mortgage rates. Many first-time buyers, without access to equity, remain locked out. In April, there were 39% more homes for sale in L.A. County than a year earlier. "Sellers are coming back more so than buyers," Ng said. Use the tables below to search for home sale prices and apartment rental prices by city, neighborhood and county. In 2024, asking rents for apartments in many parts of Southern California also ticked down, but the January fires in L.A. County could be upending the downward trend in some locations. Housing analysts have said that rising vacancy levels since 2022 had forced landlords to accept less in rent. But the fires destroyed thousands of homes, suddenly thrusting many people into the rental market. Most homes destroyed were single-family houses, and some housing and disaster recovery experts say they expect the largest increases in rent to be in larger units adjacent to burn areas in Pacific Palisades and Altadena, with upward pressure on rents diminishing for units that are smaller and farther away from the disaster zone. In Santa Monica, which borders the hard-hit Pacific Palisades neighborhood, the median rent rose 4.5% in April from a year earlier, according to data from ApartmentList. Across the entire city of Los Angeles, which includes the Palisades and many neighborhoods not adjacent to any fire, rents rose only 0.1% last month. ApartmentList does not have data for Altadena, but it does for the adjacent city of Pasadena. Rents there rose 5.4% in April. Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week. This story originally appeared in Los Angeles Times.
Yahoo
20-05-2025
- Business
- Yahoo
Bloomington Metro apartments for rent saw essentially no changes in April
Renters in Bloomington Metro saw apartment listing prices essentially unchanged from March's average of $1,253, an analysis of new data from Apartment List shows. The average apartment listed for rent at $1,256 in April. Average listing prices in Bloomington Metro are trending 0.2394% upwards from March's $1,253 price, up 0.8% from this time last year. The data is inclusive of all bedroom sizes, from studios to three-bedroom units, so while it is a good indicator of how rents are moving in the area, it does not include single family homes for rent, said Chris Salviati, senior housing economist for Apartment List. One-bedroom apartments listed to rent at an average of $1,100, slightly higher than March, when they were $1,096. Since last year, one-bedroom rental prices rose 0.9% from $1,090. Two-bedroom apartments listed for rent were slightly higher than March at an average of $1,251, compared to $1,247. Since last year, two-bedroom rental prices rose 0.9% from $1,240. Statewide, Indiana rental listing prices are slightly higher than March's average of $1,107. In Indiana, one-bedroom rentals were listed for an average of $921, slightly higher than March's average of $918. Two-bedroom rental listing prices are trending slightly higher than March's average of $1,116 at $1120. In Bloomington Metro, the average apartment listed for rent is 13% above the state average. One-bedroom rentals were 19% above the state average, while two-bedrooms listed 12% above. Nationwide, apartment rental listing prices slightly increased from last month's $1,384 to $1,392. One-bedroom rentals across the nation listed for an average of $1,223, just higher than last month's average of $1,216, while two-bedroom rental listing prices slightly rose from last month's average of $1,370 to $1,378. In Bloomington Metro, the average apartment listed for rent is 10% below the national average. One-bedroom apartment rentals listed 10% below the national average, with two-bedroom rentals listed 9% below. The average apartment rental prices used in this report are gathered from Apartment List, which estimates the median rent using median rent statistics from the Census Bureau's American Community Survey and a growth rate calculated from their listing data. Read more about their rent estimate methodology here. The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Apartment List. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us. This article originally appeared on Evening World: Bloomington Metro apartments for rent saw essentially no changes in April
Yahoo
13-05-2025
- Business
- Yahoo
Pittsburgh Metro apartments for rent saw price increases in April
Renters in Pittsburgh Metro saw apartment listing prices increase from March's average of $1,176, an analysis of new data from Apartment List shows. The average apartment listed for rent at $1,190 in April. Average listing prices in Pittsburgh Metro are trending 1.1905% upwards from March's $1,176 price, up 1.6% from this time last year. The data is inclusive of all bedroom sizes, from studios to three-bedroom units, so while it is a good indicator of how rents are moving in the area, it does not include single-family homes for rent, said Chris Salviati, senior housing economist for Apartment List. One-bedroom apartments listed to rent at an average of $991, 1.2257% higher than March, when they were $979. Since last year, one-bedroom rental prices rose 1.6% from $975. Two-bedroom apartments listed for rent were 1.2315% higher than March at an average of $1,233, compared to $1,218. Since last year, two-bedroom rental prices rose 1.6% from $1,213. Statewide, Pennsylvania rental listing prices are on the rise from March's average of $1,270, at $1,282. In Pennsylvania, one-bedroom rentals were listed for an average of $1,078, 0.8419% higher than March's average of $1,069. Two-bedroom rental listing prices are trending 0.9195% higher than March's average of $1,305 at $1317. In Pittsburgh Metro, the average apartment listed for rent is 7% below the state average. One-bedroom rentals were 8% below the state average, while two-bedrooms listed 6% below. Nationwide, apartment rental listing prices slightly increased from last month's $1,384 to $1,392. One-bedroom rentals across the nation listed for an average of $1,223, just higher than last month's average of $1,216, while two-bedroom rental listing prices slightly rose from last month's average of $1,370 to $1,378. In Pittsburgh Metro, the average apartment listed for rent is 15% below the national average. One-bedroom apartment rentals are listed 19% below the national average, with two-bedroom rentals listed 11% below. The average apartment rental prices used in this report are gathered from Apartment List, which estimates the median rent using median rent statistics from the Census Bureau's American Community Survey and a growth rate calculated from their listing data. Read more about their rent estimate methodology here. The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Apartment List. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us. This article originally appeared on Beaver County Times: Pittsburgh Metro apartments for rent saw price increases in April
