Rent is Going Way Down in This North Carolina City
The cost of housing can be jarring, especially in certain areas of the country. Thankfully, rent is going way down in one North Carolina city. Two cities, actually. That’s good news if you’re looking to rent in the near future. That said, I’m happy to report on these two cities and also the most affordable cities to live in America. Let’s get into it.
The new report comes from Rent.com, and it was released at the end of January. In it, they have some good news, stating that, “On a monthly basis, asking rents declined for the fourth consecutive time,” although they add that, “declines from November to December slowed by just -0.1 percent.” Also, “current asking rents decreased by 0.11 percent month-over-month, compared to -0.57 monthly percentage drop between October and November and a little over 2 percent between August and September.”
What does that amount to in dollars and cents? Well, rent prices peaked, according to Rent.com, in August of 2022 at $2,054. The current national median price for an apartment, they state, is $1,964. While that might not seem like a significant decline, any decrease in rent costs is a good thing. Specifically, December’s asking rent decreased by 0.1 percent from November, when prices were $1,967. “December is the third month in a row that median rent prices have dipped below $2,000,” the report states. So, it’s good news all around that rent and housing costs are coming down. That could be reflected in home prices, too.
So, rent is going way down in which North Carolina city? That city is Raleigh, where rent has gone down a whopping −12.18% over the same time last year. That’s incredible. Another North Carolina city is on the list, too, with Charlotte, where rent has gone down −3.51% over the same time last year. The city with the highest rent increase over the past 12 months is Providence, Rhode Island, at +21.55%. Wow. That’s a massive increase. The city where rent has decreased the most over the past year is Salt Lake City, Utah, at −20.75%. Find the full list here. Also, the state with the lowest rent in the US, according to Forbes, is North Dakota at $880 per month. The highest is Hawaii at $2,418.
Do You Have More or Less in Your 401K Than Most People Your Age?
The average and median 401(k) balance by age
So, there you have it, the average and median 401K balance by age. The stats are from Vanguard’s “How America Saves 2023” report, which offers data on the average and median 401K account balances by age. Find the full report here.
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