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Yahoo
01-06-2025
- Business
- Yahoo
Top 5 Cities Where Tiny Apartments Are Big — and How Much It Costs to Live There
As typical rent prices across the U.S. reach more than $2,000, many Americans struggle to find affordable rental housing, according to recent research from As new graduates seek apartments, it puts more upward pressure on rent prices. Read Next: Discover More: This spring, multifamily home rental prices have edged up by 0.7%, up to $1,849 for a typical apartment, wrote in its March Rent Report. The solution for many renters? Tiny apartments, or micro-housing. Developers are converting space in dying or defunct malls across the country into micro-apartments, like the ones at The Arcade, a historic mall building in Providence, Rhode Island. Similarly, the Lafayette Square Mall in Indianapolis is planning to open 1,200 apartments in a former Sears building in 2025, reported. But the biggest demand for tiny apartments is on the West Coast, according to a new study from San Francisco ranks the highest or available micro-units and also shows the biggest cost savings for renters who can cram themselves and their belongings in a space that maxes out at 415 feet. According to research, some tiny apartments in San Francisco measure as small as 124 square feet. If you're reading this from the comfort of a spacious, 3-bedroom suburban home, 124 square feet is just slightly larger than a 10′ x 12′ bedroom you might have in your house. Most micro-units have a maximum size of roughly 415 to 440 feet to be considered 'micro' by zoning laws. But you'll find outliers. For instance, the smallest of the tiny apartments are in Honolulu, Hawaii, where a unit must be under 348 square feet to be considered 'micro.' Let's take a look at 5 cities where micro-units make up more than 10% of the city's available rentals. City Avg. size of tiny apt. % of micro-units Avg. Rent for Micro-unit Savings compared to traditional apartment San Francisco 415 14.70% $1,888 $1,628 Seattle 405 12% $1,289 $1,099 Honolulu 348 11.60% $1,700 $562 Portland (OR) 408 10.70% $1,144 $635 Minneapolis 433 10.40% $1,078 $661 More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 10 Unreliable SUVs To Stay Away From Buying This article originally appeared on Top 5 Cities Where Tiny Apartments Are Big — and How Much It Costs to Live There Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
Nearly Every U.S. Metro Has Higher Rental Prices than Pre-Pandemic, Despite Months of Declines
Tariffs on building supplies could threaten continued price declines and damper new multi-family construction activity Markets most at risk from the impact of tariffs: Milwaukee; Oklahoma City; Memphis, Tenn.; Cleveland; Columbus, Ohio; Atlanta; Cincinnati; Birmingham, Ala.; and San Diego AUSTIN, Texas, April 16, 2025 /PRNewswire/ -- For the 20th consecutive month rents declined in March, and the median asking price for rent in the 50 largest metros is now $65 lower than the 2022 peak, standing at $1,694, according to the March Rent Report. While rents have been declining for nearly two years due in large part to new multifamily inventory, new tariffs could have impacts on metros where multi-family permitting activity is growing the fastest, jeopardizing rent declines. "While the median asking rent is down $65 monthly or over $700 annually, in nearly every major U.S. metro rents are still considerably higher than 2019," said Joel Berner, senior economist at "We have seen declines in rents largely due to robust multi-family building and permitting adding more rental options in many metros. This tailwind is currently under threat as developers grapple with the short-term and long-term impacts of new and evolving tariffs on building materials. For renters in cities with declining rents, it might be a good time to lock in a good rate for the next year or beyond." Despite Recent Price Declines, Rents Are Still Considerably More Than Before the Pre-Pandemic This March marked the fifth anniversary of the onset of the global Covid-19 pandemic, and rents across the U.S. largely remain above pre-pandemic pricing. San Francisco remains the only market where the median asking rent is still below pre-pandemic levels. The median rent has risen 20.2%, from $1,409 in March 2019 to $1,694 in March 2025. During this period, Pittsburgh (47.9%) led the Northeast in rental growth, while Tampa, Fla. (45.7%) saw the fastest increases in the South. In the Midwest, Indianapolis (34%) emerged as the fastest growth market, and in the West, Sacramento, Calif. (30.6%) experienced the highest rent hikes. Markets with the Fastest-Growing Multi-Family Permits Face the Greatest Potential Impacts from Tariffs The recently announced tariffs on imported building materials such as steel and aluminum could potentially impact the multifamily housing supply by driving up construction costs. These rising expenses may discourage, delay or halt building and added costs could be passed to renters, pushing rental prices higher. Markets that experienced rapid growth in permitted multifamily homes are expected to see the biggest impacts as developers and builders may postpone or even cancel new projects. Markets such as Milwaukee, Oklahoma City and Memphis, Tenn., which saw the fastest growth in permitted multifamily homes, are expected to be hit the hardest by the 25% tariffs on steel and aluminum due to anticipated higher construction costs. "Even markets with declining permitting activity could see impacts as rising construction costs could further dampen new development plans, restricting supply and continuing to exert upward pressure on rental prices," said Berner. Markets with the Fastest-Growing Multi-Family Permits Markets Multifamily Units Permitted 2024 Multifamily Units Permitted vs 5-year Baseline Milwaukee-Waukesha, Wi 1,884 101.3 % Oklahoma City, Okla. 581 90.4 % Memphis, Tenn.-Miss.-Ark. 1,089 39.5 % Cleveland, Ohio 720 37.9 % Columbus, Ohio 7,195 32.7 % Atlanta-Sandy Springs-Roswell, Ga. 13,937 31.5 % Cincinnati, Ohio-Ky.-Ind. 2,534 29.9 % Birmingham, Ala. 556 22.1 % San Diego-Chula Vista-Carlsbad, Calif. 7,244 18.8 % National Rental Data – March 2025 Unit Size Median Rent Rent YoY Rent Change - 6 Years Overall $1,694 -1,2 % 20.2 % Studio $1,407 -1.2 % 16.2 % 1-Bedroom $1,577 -1.1 % 18.5 % 2-Bedroom $1,878 -1.4 % 22.1 % Market Median Asking Rent YOY Change Atlanta-Sandy Springs-Roswell, GA $1,571 -2.9 % Austin-Round Rock-San Marcos, TX $1,471 -4.5 % Baltimore-Columbia-Towson, MD $1,806 1.1 % Birmingham, AL $1,170 -4.6 % Boston-Cambridge-Newton, MA-NH $2,951 0.4 % Buffalo-Cheektowaga, NY NA NA Charlotte-Concord-Gastonia, NC-SC $1,522 -0.3 % Chicago-Naperville-Elgin, IL-IN $1,787 -2.2 % Cincinnati, OH-KY-IN $1,291 -2.5 % Cleveland, OH $1,161 -3.5 % Columbus, OH $1,204 1.3 % Dallas-Fort Worth-Arlington, TX $1,461 -2.3 % Denver-Aurora-Centennial, CO $1,767 -6.3 % Detroit-Warren-Dearborn, MI $1,311 2.4 % Hartford-West Hartford-East Hartford, CT NA NA Houston-Pasadena-The Woodlands, TX $1,357 -2.0 % Indianapolis-Carmel-Greenwood, IN $1,289 -1.8 % Jacksonville, FL $1,510 -2.8 % Kansas City, MO-KS $1,371 5.3 % Las Vegas-Henderson-North Las Vegas, NV $1,453 -2.3 % Los Angeles-Long Beach-Anaheim, CA $2,709 -2.8 % Louisville/Jefferson County, KY-IN $1,234 -1.5 % Memphis, TN-MS-AR $1,180 -3.0 % Miami-Fort Lauderdale-West Palm Beach, FL $2,326 -1.7 % Milwaukee-Waukesha, WI $1,649 0.7 % Minneapolis-St. Paul-Bloomington, MN-WI $1,491 -1.4 % Nashville-Davidson--Murfreesboro--Franklin, TN $1,525 -2.0 % New Orleans-Metairie, LA NA NA New York-Newark-Jersey City, NY-NJ $2,967 5.6 % Oklahoma City, OK $1,012 1.8 % Orlando-Kissimmee-Sanford, FL $1,679 -0.4 % Philadelphia-Camden-Wilmington, PA-NJ-DE-MD $1,744 -1.9 % Phoenix-Mesa-Chandler, AZ $1,492 -3.7 % Pittsburgh, PA $1,452 -0.1 % Portland-Vancouver-Hillsboro, OR-WA $1,658 -3.3 % Providence-Warwick, RI-MA NA NA Raleigh-Cary, NC $1,477 -3.3 % Richmond, VA $1,489 -0.3 % Riverside-San Bernardino-Ontario, CA $2,063 -3.6 % Rochester, NY NA NA Sacramento-Roseville-Folsom, CA $1,863 -1.8 % San Antonio-New Braunfels, TX $1,239 -1.7 % San Diego-Chula Vista-Carlsbad, CA $2,667 -5.8 % San Francisco-Oakland-Fremont, CA $2,702 -2.9 % San Jose-Sunnyvale-Santa Clara, CA $3,339 2.0 % Seattle-Tacoma-Bellevue, WA $1,960 -1.2 % St. Louis, MO-IL $1,314 -0.2 % Tampa-St. Petersburg-Clearwater, FL $1,738 0.2 % Virginia Beach-Chesapeake-Norfolk, VA-NC $1,493 -0.9 % Washington-Arlington-Alexandria, DC-VA-MD-WV $2,291 2.6 % Methodology Rental data as of March 2025 for studio, 1-bedroom, or 2-bedroom units advertised as for-rent on Rental units include apartments as well as private rentals (condos, townhomes, single-family homes). We use rental sources that reliably report data each month within the top 50 largest metropolitan areas. began publishing regular monthly rental trends reports in October 2020 with data history stretching back to March 2019. About pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, is a valued partner, delivering consumer connections and a robust suite of marketing tools to support business growth. is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. Media contact: Mallory Micetich, press@ View original content: SOURCE
Yahoo
03-04-2025
- Business
- Yahoo
Pensioner shock as map exposes dire rental crisis: 'Landlord's market'
Australia's rental market is showing signs of cooling but landlords are still the ones firmly in control, new research has found. House and unit rents are at record high, and renters are still facing stiff competition to put a roof over their heads. House rents are growing at their slowest rate in four years, Domain's latest Rent Report found. Unit rent increases are also their slowest in years across most capitals, with Hobart and Darwin the only ones to buck the trend. Despite this, all are still at record highs. Rents across the combined capitals for houses hit $650 per week in March, up $20 per week annually. Units also reached $650 per week, up $30 per week. RELATED Brisbane residents warned rents are about to 'get worse': 'Prepare' Aussie 'dream' falls apart four months after young expat's arrival with $20,000: 'In Canada everything's free' Centrelink announces $1,000 disaster payments for more Aussies: 'Now available' 'Despite a softening of growth, the data suggests Australia is still very much a landlord's market,' said Domain's Chief of Research and Economics, Dr Nicola Powell. 'Most cities experienced 5 per cent or less annual change, a sharp drop from the double-digit gains seen in recent years. 'Increasing supply is slowing price growth, and while it's still not enough to fully meet demand – we can see that it's helping to rebalance some of the tightest rental markets.'The 'affordability ceiling' is also becoming apparent, Powell said, with unit rents outpacing house rents in Sydney, Melbourne, Brisbane, Canberra and Hobart. Vacancy rates remain low in favour of landlords in all cities, Domain found, particularly in Adelaide, Perth and Hobart. The data comes as Anglicare Australia releases heat maps showing rental affordability across the country. Just 0.6 per cent of rentals were affordable for a full-time worker on a minimum wage, the charity found, while 0.2 per cent were affordable for a person on the Age Pension. For a person on JobSeeker or Youth Allowance, 0 per cent of rentals were affordable. 'Australia's housing crisis has never been worse. No part of the country has been spared,' Anglicare Australia executive director Kasy Chambers said. 'These maps show that rents are shooting up in towns and regions, and that our cities have never been more expensive. 'We keep hearing that this election is about living costs, but housing is the biggest cost facing Australians. People on low incomes don't stand a chance." Kingsford Smith, Bradfield, Sydney and Warringah in New South Wales and Fadden in Queensland were named the five least-affordable electorates in Australia. Here's a snapshot of annual rental increases across the capitals. Sydney up 3.3 per cent to $775 Melbourne up 1.8 per cent to $580 Brisbane up 4.8 per cent to $650 Adelaide up 5.1 per cent to $620 Perth up 6.2 per cent to $690 Canberra up 2.2 per cent to $700 Darwin up 7.7 per cent to $700 Hobart up 3.6 per cent to $570 Sydney up 3.6 per cent to $725 Melbourne up 4.5 per cent to $575 Brisbane up 2.5 per cent to $615 Adelaide up 7.5 per cent to $500 Perth up 9.1 per cent to $600 Canberra up 0.9 per cent to $575 Darwin up 1.8 per cent to $560 Hobart up 4.3 per cent to $480Sign in to access your portfolio
Yahoo
21-02-2025
- Business
- Yahoo
Weekly Roundup: 12 Finance Press Releases You Need to See
A roundup of the most newsworthy financial press releases from PR Newswire this week, including Howard Lutnick's confirmation as U.S. Secretary of Commerce, a Black entrepreneur's bid for TGI Fridays and more. NEW YORK, Feb. 21, 2025 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week's most newsworthy and popular releases, here's a recap of some major stories from the week that shouldn't be missed. The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download. Renting is Still More Affordable Than Buying in All but Two Major U.S. MetrosAccording to the January Rent Report, most metros have become more affordable for both buyers and renters in the past year; however, renting a median-priced unit is still more affordable for median wage earners than buying the median priced for-sale listing in all major U.S. metros except two major cities. Howard Lutnick Confirmed as 41st United States Secretary of Commerce; Steps Down From His Positions at Cantor Fitzgerald, led Cantor Fitzgerald for four decades and rebuilt the company after losing 658 of its 960 New York-based employees, including his brother Gary, in the terrorist attacks on September 11, 2001. The Cantor Fitzgerald group of companies now employs more than 14,000 professionals and is widely recognized as a leader in global financial and commercial real estate services. Nikola Initiates Comprehensive Voluntary Chapter 11 Sale ProcessThe publicly traded EV truck maker filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Nikola intends to market and sell all, substantially all, or a portion of its assets and effectuate an orderly wind down of its businesses. G5ive Restaurant Group Aims to Acquire TGI FridaysSpearheaded by 30-year-old Louisiana Black entrepreneur Cory Griffin, G5ive Restaurant Group is making headlines with its ambitious plan to acquire TGI Fridays through an ownership consortium. This move represents a significant step toward increasing Black ownership in the national restaurant industry. Addepar Introduces Cutting-Edge Solutions for Managing AlternativesThe new capabilities are purpose built to enhance data-driven decision-making and boost operational efficiency for advisors and institutions managing complex portfolios with alternative investments. 69% of CFOs expect higher returns from sustainability initiatives than from traditional investments - KearneyResearch conducted by Kearney and We Don't Have Time surveyed 500 CFOs across the UK, U.S., UAE, and India to understand how CFOs are embedding sustainability within their strategies. Regardless of geopolitical uncertainty and increased financial pressure, the data highlights CFOs' confidence in the long-term value and profitability of sustainable investments. Sherwin-Williams to Acquire BASF's Brazilian Architectural Paints Business for $1.15 Billion in All-Cash TransactionThe transaction adds a leading producer of architectural paints in Brazil to the Sherwin-Williams portfolio. BASF develops, manufactures and sells a comprehensive portfolio of innovative products under the well-known Suvinil and Glasu! brand names to professional painters, designers, architects, general contractors and consumers across Brazil. How Latino Professionals Are Redefining Leadership in the Era of AI, Remote Work & Digital TransformationThe 2025 ALPFA Convention will take place July 26-31 at Caesars Forum in Las Vegas, serving as the platform for professionals to accelerate their careers and embrace sustainable leadership. With exclusive networking opportunities, development programs, and the third annual pitch competition providing startups access to capital, ALPFA is creating access. Rocket Mortgage Unveils RocketRentRewards: Transforming Rent Payments Into HomeownershipWith a Rocket mortgage, homebuyers earn 10% back on the last 12 months of rental payments – receiving up to $5,000 in lender credits toward closing costs. With the national average rent at $1,800, that translates to $2,160 applied toward a client's closing costs – one of the biggest financial hurdles for first-time homebuyers. Rise in Americans' savings intent may signal shift back to weaker, pre-pandemic consumer spending norms-- Bain & Company/Dynata Consumer Health IndexesBrian Stobie, senior director in Bain & Company's Macro Trends Group, said: "This shift may pose challenges if businesses are basing their expectations for future consumer behaviors on the boom years of the pandemic recovery, when consumers deviated from these norms toward outsized spending." BNP Paribas' Securities Services Business Adopts Broadridge's Global Class Action Solution to Maximize its Clients' Global Asset Recovery OpportunitiesBroadridge provides a comprehensive, proprietary technology solution for global class action services that will help clients identify and act on asset recovery opportunities. This includes a seamless process for identifying, filing, and recovering investment losses, backed by Broadridge's industry expertise. Bambusa Therapeutics Raises Approximately $90 Million in Series A Financing to Advance Next-generation Bispecific Antibodies for Immunology & Inflammation DiseasesThe round was led by new investor RA Capital Management, with participation from new investors including Janus Henderson Investors, Redmile Group, Invus, and ADAR1 Capital Management. Two of Bambusa's four programs are on track to enter the clinic in Q1 2025 and mid-2025, respectively. For more news like this, check out all of the latest finance-related releases from PR Newswire. Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most. Helping Journalists Stay Up to Date on Industry News These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists. Once they're signed up, reporters, bloggers, and freelancers have access to the following free features: Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more. Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger's next story. Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles. Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more. About PR NewswirePR Newswire is the industry's leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world. For questions, contact the team at View original content to download multimedia: SOURCE PR Newswire Sign in to access your portfolio
