Latest news with #USCensus
New York Post
4 hours ago
- Business
- New York Post
Dozens of New Jersey suburbs have more renters than homeowners — more than any other state
In the Garden State, signing a deed to buy a home is being outnumbered in certain areas by inking a lease to rent one. As housing affordability continues to decline nationwide, a growing number of New Jersey suburbs especially are now dominated by renters — recasting the classic vision of suburban life. A new analysis of US Census data by Point2Homes reveals that 39 New Jersey suburbs with populations more than 10,000 are now renter-majority — a figure that leads the nation. Advertisement 6 New Jersey suburbs are becoming ground zero for the rise of the 'renter majority,' as the dream of suburban homeownership slips further out of reach. Col. Wilson – Once a haven for aspiring homeowners who wanted to maintain close ties to New York City, the state's inner-ring suburbs are seeing significant demographic and economic transformation as more residents lease rather than buy. Places like Harrison, Union City, West New York, Passaic and Elizabeth are among the top 20 suburbs in the country with the highest shares of renter households. Advertisement In Harrison, located near Newark, over 81% of households are occupied by renters; in Union City, it's nearly 80%. The trend isn't just about where people are living — it's about how. 6 According to a recent study by Point2Homes, 39 New Jersey suburbs now have more renters than homeowners — more than any other state represented in the national analysis. John McAdorey – 6 Places like Harrison, Union City, West New York, Passaic and Elizabeth top the list, with renter rates exceeding 74%. Fotosforthefuture/Wirestock Creators – The shift reflects both an affordability crisis and changing attitudes about homeownership, according to the National Association of Home Builders, which noted that nearly 75% of US households cannot afford a median-priced new home in 2025 — now hovering around $460,000 with a 30-year mortgage rate at 6.5%. Advertisement In New Jersey, the shift is particularly stark. Of the 15 suburbs nationwide that flipped from homeowner-majority to renter-majority between 2018 and 2023, four are in New Jersey — more than any other state. 6 From 2018 to 2023, four New Jersey suburbs — including Bound Brook and Secaucus — were among the top 15 nationwide to tip into renter-majority status. Luis – Bound Brook, for example, saw its renter population jump from just under 50% to more than 58%. Advertisement North Arlington, East Franklin and Secaucus also made the list, each undergoing a similar transformation. Meanwhile, Elizabeth and Paterson added more than 3,500 renter households each over the past five years, ranking among the top 10 suburbs nationwide for absolute growth in renter households. The movement isn't just driven by rising home prices — it's also a response to skyrocketing urban rents, especially considering nearby New York. 6 The trend reflects both affordability challenges and broader cultural shifts: younger generations shaped by the 2008 housing crash are increasingly opting to rent, not just for financial reasons but for flexibility, remote work compatibility and proximity to transit. Bildgigant – 6 In places like Elizabeth and Union Township, large-scale rental developments near train stations are rapidly reshaping once ownership-dominated landscapes, catering to renters priced out of New York City and nearby urban centers. Felix Mizioznikov – Younger generations, especially millennials and Gen Z, are turning to suburban rentals as a middle ground: close enough to transit, but far enough from the eye-watering rents on or on the other side of the Hudson. Developers have responded in kind. In places like Union Township and Elizabeth, mid-rise apartment buildings have cropped up near train stations, catering to commuters and remote workers alike.
Yahoo
19 hours ago
- Business
- Yahoo
City officials discuss how population has increased
(WKBN) — US Census figures released a few weeks ago showed that of the 76 communities in Mahoning, Trumbull and Columbiana Counties, only two have increased population in the last four are the City of Columbiana and Fairfield Township, which surround Columbiana. Columbiana in the last four years gained 187 people, and Fairfield Township 150. Behind the new Drug Mart on Route 164 in Columbiana, a new housing development is being built. 'It's going to be a combination of all different types of housing opportunities,' said Mayor Rick Noel. Rick Noel, 75, is Columbiana's mayor, who has lived in Columbiana his whole life. 'It's a recognition regionally, almost that we're a great place to be,' Noel said. Noel highlighted the downtown, where there are no vacancies. Columbiana has an active planning commission and has joined with Salem to have building permits processed in as little as two weeks. 'One of the great things is we have a great city government here, planning commission, park board — we have so many people involved and they're all working in a positive direction,' Noel said. Columbiana also has in place a Community Reinvestment Area — or CRA — which allows people building new homes to pay no property tax for 15 years. 'And there's no doubt that our growth, a lot of our growth, is because of the CRA,' Noel. 'We are at this point piggybacking off Columbiana,' Barry Miner said. Barry Miner is a Fairfield Township Trustee, where the population has also increased. It's primarily a farming community but the Fairfield Trustees have contributed to the growth of Columbiana. The land under the TownCenter at Firestone Farms was once Fairfield Township, but was allowed to be annexed into Columbiana. 'That we are going to work with the city and over the years, if you look at the acreage that we have lost the city of Columbiana by annexation, type 2, it has grown, so we have benefited from that,' Miner said. Minor pointed to a map where shades of yellow indicated areas zoned for housing. With many communities struggling with housing, Fairfield Township could grow. 'In the future, I think there will be some type of growth throughout the township,' Miner said. 'And we've really worked hard to make this a place where people want to come to and want to live and want to enjoy life,' Noel said. Columbiana's Mayor is not yet concerned about too much growth, though he said some people in Columbiana are concerned. There has been a noticeable increase in traffic and, well, Columbiana has just 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Bloomberg
a day ago
- Business
- Bloomberg
China Skips US Oil Purchases for Second Month on Trade Impasse
China, the world's largest oil importer, avoided buying American crude for a second straight month as the nation's trade dispute with the US continues to unsettle markets. Dragged down by the absence of Chinese purchases, US oil exports slid to the lowest this year in April, according to US Census data. In the same month a year earlier, China bought 297,000 barrels a day from the US and three times that amount in 2023, the data shows. March and April mark the first time since the pandemic that Chinese refiners skipped buying from the US for two straight months.
Time of India
2 days ago
- Business
- Time of India
Why STEM degrees are losing their iron grip on employment security as Social Sciences gain momentum
STEM degrees have long been crowned as the most employable academic paths, marketed as the unshakable pillars of career success and economic stability. But new job market data is rapidly dismantling that belief. According to the Federal Reserve Bank of New York (2025), unemployment for computer engineering stands at 7.5%, and for computer science, 6.1%, figures that cast doubt on the supposed invincibility of these once-revered disciplines. Meanwhile, the traditionally dubbed 'soft' majors—philosophy, art history, and even nutritional sciences- are now outperforming STEM in employment outcomes, challenging entrenched academic hierarchies. This reversal is no anomaly, it is a signal. As AI takes over routine technical work and employers increasingly value adaptability, ethical judgment, and interdisciplinary thinking, the job market is undergoing a quiet yet seismic shift. The liberal arts, long dismissed as impractical, are now aligning with what the economy increasingly seeks: not just technical skills, but human insight. Technical degrees face higher unemployment rates A startling analysis was unearthed by the Federal Reserve Bank of New York recently, based on 2023 US Census data, that reveals that computer engineering graduates face 7.5% unemployment rate, while computer science graduates report 6.1%, figures notably higher than the national average for recent college graduates. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure Your Child's Future with Strong English Fluency Planet Spark Learn More Undo These rates eclipse many liberal arts disciplines, moving against age-old beliefs. However, paradoxically, degrees such as nutritional sciences (0.4%), art history (3%), and philosophy (3.2%) demonstrate lower unemployment rates. Even finance and economics, often regarded as elite, career-oriented profiles, register 3.7% and 4.3% unemployment rates, respectively, still outperforming some of the highest-paying STEM disciplines. Broader labour trends signal rising pressure The job market for young graduates is showing increasing signs of strain. According to the New York Fed's April 2025 report, the unemployment rate for recent college graduates rose to 5.8% in March 2025, up from 4.6% the previous year. Additionally, Gen Z households experiencing unemployment surged by nearly 32% year-over-year in February, as per the US Census Bureau. The job market is grappling with mounting signs of strain. According to the Federal Reserve Bank's data, the unemployment rate for recent college graduates has skyrocketed to 5.8% in March 2025, up from 4.6% the previous year. Furthermore, the trend suggests a systemic mismatch between educational focus areas and actual market absorption capacity. While student interests continue to swell in tech-related domains, the hiring market appears to be shifting this criterion. What's causing this shift? The job market has never been a straight line, it has always demonstrated a light and dark patch. Skills and courses once regarded as 'not employable' are gaining momentum in the present scenario. What is at backstage of this transformation? Oversupply in STEM graduates : With a surge in enrollment in computer science and engineering, the number of qualified graduates has transcended the available entry-level jobs, diluting job prospects in a once-robust sector. AI and automation replacing routine technical work : Emerging technologies are automating foundational coding, analysis, and design tasks, cutting off demand for newly minted technical professionals. Rising STEM unemployment rates : According to the Federal Reserve Bank of New York, unemployment for computer engineering and computer science graduates stands at 7.5% and 6.1%, respectively, well above several liberal arts fields. Liberal Arts majors showing greater job resilience : Graduates in philosophy, art history, and nutrition report significantly lower unemployment, some as low as 0.4%, challenging assumptions about "employable" degrees. Shifting employer priorities : Modern employers are placing a premium on interdisciplinary thinking, ethical judgment, communication skills, and cultural awareness, traits often fostered in the humanities. Broader economic volatility : A 32% year-over-year rise in unemployment among Gen Z households (US Census Bureau, 2025) points to larger structural changes that are altering the equation between education and employability. Indian trends echo the global realignment Indian students are also facing these unprecedented challenges exhibited by a volatile job market. A significant decline in traditional engineering enrolments is emerging, now dipping to 24.5%, while 42.9% of students are opting for computer science and mathematics, according to internal education estimates. The growing relevance of the Humanities and Liberal Arts Contrary to the long-cherished perceptions, liberal arts disciplines are now being rewarded for their inclination with the evolving needs of a digitally interconnected world. The industries are changing their face at the blink of an eye, thanks to artificial intelligence. In a world driven by Artificial Intelligence, soft skills are ruling the realm. Hence, the demand for uniquely human skills are at rise, such as ethical reasoning, creativity, critical thinking, and cross-disciplinary understanding, is growing. These are competencies that traditional STEM curricula often overlook, but which humanities-based education fosters by design. The shift is not just academic; it's pragmatic. As organizations grapple with the ethical and societal implications of emerging technologies, the ability to contextualize innovation within broader human frameworks is becoming a competitive advantage. A new equation for career preparedness The narrative that STEM guarantees success is being challenged and redefined. While technical knowledge remains essential, it is no longer a standalone passport to job security. The latest data from the Federal Reserve Bank of New York and the US Census Bureau suggest that degrees once shrugged off as impractical are now bestowing greater flexibility in a world where technology evolves faster than job roles can be created. Picking a college major today is less about looking for the heaviest pay cheque and more about preparing for a fluid future. As the lines between disciplines blur and the workplace demands broader skill sets, a balanced educational strategy, one that values both hard skills and human insights, may prove to be the most future-ready path of all. Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
Yahoo
28-05-2025
- Business
- Yahoo
15 cities where it's more affordable to buy a home
Buying a house is stressful, even without factoring in high prices and competition. However, there are a few places with more affordable homes, according to a WalletHub report. It found Flint, Michigan, is the most affordable place to buy a home. If browsing home prices in Seattle or San Francisco feels like an exercise in unattainability, consider expanding your search outside the West Coast. Using a combination of factors, including median house prices, annual household incomes, real-estate taxes, and cost of living, WalletHub created a list of the most affordable cities to buy a home. Many of the cities are in the Rust Belt, which has struggled with economic recovery but has seen revitalization more recently. Others are in literal hotspots, like regions of Arizona that are experiencing booming population growth. For each city in the top 15, BI identified the population using 2024 US Census estimates, median household income from 2023 Census data, and median house prices from April 2025 listings. Here are 15 cities where the housing prices aren't as sky-high as in other regions. 15. Montgomery, Alabama Population: 195,818 Median home price: $195,000 Median household income: $55,687 A little about Montgomery: Known as the birthplace of the Civil Rights Movement, Montgomery has a wealth of museums, monuments, and sites dedicated to this chapter in its history. Maxwell Gunter Air Force Base is a major employer, as is the state government. Hyundai also has a manufacturing plant where the Tucson, Santa Fe, and other vehicles are assembled. Parts of this capital city have views of the Alabama River. Riverfront Park is a popular destination, especially during the hot, humid summers. 14. Toledo, Ohio Population: 265,638 Median home price: $135,000 Median household income: $47,532 A little about Toledo: The city has deep ties to the automotive industry and is sometimes called "The Glass City" thanks to its history of glass manufacturing, hence the name of its riverwalk. Both the Toledo Zoo and the Toledo Museum of Art are popular attractions. The landscape isn't all industrial, either. The Maumee River travels through Toledo before feeding into Lake Erie. Over 200 miles of trails are found in the city, including some that double as cross-country ski areas during the snowy winters. 13. Warren, Michigan Population: 137,686 Median home price: $187,400 Median household income: $63,741 A little about Warren: About 15 miles north of Detroit, Warren is one of the state's most populous cities. It's the location of the Detroit Arsenal, the first facility in the country built to mass produce tanks. The Army's Tank-Automotive and Armaments Command is still headquartered there. GM's Global Technical Center is another major employer. Warren lacks much of a downtown. It's something the city's leaders are hoping to change by bringing in restaurants and shops to the area around the city hall, CBS News reported in January. It's slowly becoming more diverse as well, overcoming years of discriminatory housing practices, the Michigan Chronicle reported in 2019. 12. Cleveland, Ohio Population: 365,379 Median home price: $144,900 Median household income: $39,187 A little about Cleveland: Notorious for catching fire several times, most notably in 1969, the Cuyahoga River twists through Cleveland before reaching Lake Erie. The waterway is now much cleaner than in the manufacturing city's past. The Flats also sit on the river. The former industrial area now hosts bars and restaurants that provide lively nightlife, especially for the city's younger demographic. At the center of the city's downtown is the Public Square, a 10-acre park with a splash pad in the summer and ice rink in the winter. When residents aren't hanging out, they might be working at the Cleveland Clinic, a medical center with over 50,000 employees. American Greetings, Great Lakes Brewing, and Sherwin-Williams are also based there. 11. North Las Vegas, Nevada Population: 294,034 Median home price: $425,500 Median household income: $76,772 A little about North Las Vegas: Though not far from the frenetic energy of the Strip, North Las Vegas is a bit more sedate. It shares the same desert climate, though. It's not unusual for temperatures to reach triple digits in the summer months. Both Amazon and Sephora have distribution centers in the area. They're located near the Las Vegas Motor Speedway, which holds racing events for NASCAR, IndyCar, and others. Events like an annual mariachi competition celebrate the city's diverse population, while North 5th brews up local beer. 10. Indianapolis, Indiana Population: 891,484 Median home price: $259,900 Median household income: $62,99 A little about Indianapolis: Indiana's capital is perhaps best known for the Indy 500. The annual car race takes place in an enclave town, Speedway. The city's sports fans also cheer on basketball teams the Pacers and the Fever. Other leisurely ways to spend time include walking or biking the 10-mile Cultural Trail, which connects White River State Park, museums, and art pieces like the Talking Wall. Pharmaceutical giant Eli Lilly started in Indianapolis and remains headquartered there today. 9. Fort Wayne, Indiana Population: 273,203 Median home price: $289,900 Median household income: $60,293 A little about Fort Wayne: Less than 20 miles from the Ohio border, Fort Wayne is a Midwestern city that experiences all four seasons. Healthcare, manufacturing, and logistics are some of its major industries. Fort Wayne residents can enjoy dozens of parks throughout the city, including some with a water view. A trio of rivers flows through the city, and St. Marys' riverfront has green spaces, museums, and boat rentals. 8. Augusta, Georgia Population: 201,737 Median home price: $224,900 Median household income: $53,134 A little about Augusta: The Masters golf tournament calls Augusta home, so it's perhaps not surprising that Textron has its E‑Z‑GO golf cart headquarters there. Coca-Cola, Starbucks, and American Concrete all have a presence in the city as well. This Southern city has long, hot summers, with an average of 80 days over 90 degrees, according to the National Weather Service. When the weather is nice, residents who like to putt can enjoy numerous public golf courses in the area. 7. Memphis, Tennessee Population: 610,919 Median home price: $219,900 Median household income: $51,211 A little about Memphis: It's nearly impossible to separate Memphis from its musical past, due to the presence of Sun Studio. B.B. King, Johnny Cash, Elvis Presley, and many others recorded there. Elvis' Graceland home remains a draw for his enthusiastic fans. There are still countless venues in the city to catch live music. For those who don't make their living performing, several Fortune 500 companies are headquartered in Memphis, including FedEx, AutoZone, and International Paper. Elon Musk has also said his AI startup will build the world's largest supercomputer in the city. 6. Yuma, Arizona Population: 103,559 Median home price: $353,700 Median household income: $60,417 A little about Yuma: When you enjoy crisp broccoli or lettuce during the chilly months of the year, chances are the leafy greens came from the country's "Winter Salad Bowl." Yuma grows 90% of these vegetables between November and March, and agriculture accounts for 20% of jobs in the southwestern Arizona county, according to the University of Arizona. That's also the season for snowbirds who flock to the desert climate from the north, swelling the city's population. Summer temperatures can reach an average high of 106 degrees, so residents grab paddleboards or kayaks in the Colorado River. 5. Akron, Ohio Population: 189,664 Median home price: $145,000 Median household income: $48,544 A little about Akron: When Goodyear, B.F. Goodrich, Firestone, and General Tire all set up shop in the late 1800s and early 1900s, the industry would eventually lead to Akron's "Rubber Capital of the World" nickname. Now, only Goodyear's headquarters remain in the city, which is about 40 miles south of Cleveland. The tire companies' legacies remain in park names like Firestone and Goodyear Heights. Some of these scenic spots have ideal hills for sledding on snowy days. Some residents have been less eager to embrace a newer industry, bitcoin mining, with some worrying how the energy-heavy operations will affect electricity rates and the environment. 4. Surprise, Arizona Population: 167,564 Median home price: $459,900 Median household income: $93,371 A little about Surprise: About 45 minutes from Phoenix, you'll find Surprise. The suburban city is proud of its sports facilities, which include a tennis and racquet complex; golf courses; and Surprise Stadium, which hosts MLB spring training each year. The founder, Flora Mae Statler, reportedly gave Surprise its unusual name because she didn't think it would amount to much. However, it's had explosive growth over the past two decades, going from just under 31,000 people in 2000 to over 167,564 by 2024. Arizona is one of the US' fastest-growing states. Its lower home prices are likely one of the reasons over 630,000 Californians have moved there over the past decade, the Phoenix Business Journal reported last year. Surprise is trying to expand while also preserving some of the desert ecosystem, The Arizona Republic reported in February. 3. Pittsburgh, Pennsylvania Population: 307,668 Median home price: $269,000 Median household income: $64,137 A little about Pittsburgh: The Steel City once owed much of its livelihood to manufacturing and industry. Its location, where the Monongahela and Allegheny converge to form the Ohio, shaped its identity as the "Gateway to the West." The waterways provided a route to ship timber, coal, and other resources to other parts of the country. You can catch a great view of them from Mount Washington. As the steel industry declined, healthcare grew, and the University of Pittsburgh Medical Center is now a major employer. A number of tech companies, including Duolingo, are headquartered in the city. 2. Detroit, Michigan Population: 645,705 Median home price: $109,000 Median household income: $39,575 A little about Detroit: Detroit's history as both the Motor City and the home of Motown music continues to impact its reputation for being cool yet burdened with economic challenges, resulting from the loss of much of the automotive industry. Rocket Mortgage, General Motors, and Little Caesars are all headquartered in Detroit. The Detroit River divides the city from Windsor, Canada, and the area provides a crucial link between the two countries. It's the site of a picturesque island park, Belle Isle, which invites plenty of visitors in the warmer months. As parts of the city rebound, it's become known as a foodie destination, thanks to its diverse selection of cuisines. 1. Flint, Michigan Population: 79,735 Median home price: $70,000 Median household income: $36,194 A little about Flint: Flint is synonyms with its water crisis. When the city began sourcing from the Flint River, the distribution pipes started corroding and leaching lead into the water supply. It's been over a decade since the switch, and some pipes still need replacing and people remain sick from years of drinking contaminated water, The Guardian reported last year. At the time, the City of Flint said in a statement that it had significantly upgraded its monitoring and infrastructure. Though its water meets federal standards for lead levels, they stated that "no amount of lead in water is safe." Like Detroit, which is less than 70 miles southeast, Flint relied heavily on the auto industry in the past. In the summer, residents and visitors celebrate this history with the "Back to the Bricks" classic car event. Today, fast-food chains YaYa's Chicken and Big John Steak & Onion both have ties to the city. Sources: Population and income data are from the US Census, and median home prices are from Read the original article on Business Insider
