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From fishing and boating to hiking a glacier, Alaska is an outdoor enthusiast’s wonderland. What’s even better, you never have to enjoy this natural beauty alone. The bears, eagles, moose, whales and salmon, among other wildlife, are ever-present to keep you company.

Alaska is a unique and beautiful place, that although sparsely populated, offers plenty of opportunities. But, living so far from the rest of the country can present some unexpectedly high costs. Even with the Permanent Fund Dividend of more than $1,000 per year, can your budget handle Alaska’s cost of living? Let’s find out by looking at a few key components of your average expense list.

Alaska housing prices

Cities in Alaska primarily exceed the national average when it comes to housing. Not all are crazy high, but those that offer more modern amenities, like shopping malls and movie theaters, will most likely cost you more, on average. Each of the ones on our list is part of the best places to live in Alaska, even with higher-than-average housing prices.

Anchorage

Big by Alaska standards, Anchorage probably feels more like an American city than other spots in Alaska. Its size helps. Here, you’ll find the busiest airport in the state, University of Alaska students and plenty of museums, restaurants and breweries.

Housing in Anchorage is 41.5 percent above the national average, but most prices are holding steady. Home prices rose 8.9 percent compared to last year. The median home price in Anchorage is currently $385,000.

Fairbanks

Attracting a lot of students and families, Fairbanks is Alaska’s second-biggest city. It also experiences 24 hours of daylight, or the Midnight Sun, in the summer. Housing prices here are only slightly above the national average at 3.2 percent. This keeps rent and housing costs at a relatively reasonable rate even if prices rise year-over-year.

The average rent for a one-bedroom apartment is $700 per month, and a two-bedroom will cost $1,600, up a whopping 60 percent from last year.

Median home prices have risen 38.1 percent over last year, but are still sitting on the lower end when compared to other cities across the country. The median sale price in Fairbanks is $285,000.

Juneau

The sweet city of Juneau is Alaska’s capital, so it’s full of government jobs. A popular cruise ship port, Juneau also brings in a lot of tourists. With a robust downtown, for such a small town, there’s plenty to do here, which may explain why housing is 40.1 percent above the national average.

People want to live in Juneau when they’re considering calling Alaska home, but there’s still plenty of value in renting here. The average apartment rent is $1,300 per month for a two-bedroom, compared to the average home price of $665,000.

Food prices

Another cost of living in Alaska is food. Given the limited number of restaurants throughout the state, Alaskans spend a little bit more, on average, on groceries. Their average monthly grocery bill ranges between $300 and $333. Of course, they’re buying all the delicious seafood and game meat considered staple foods in the state. Items like salmon and crab pulled right from the water, and reindeer, moose and caribou are as local as you can get.

Overall, food prices throughout sit above the national average by quite a bit.

  • Fairbanks is 22.1 percent above the national average
  • Anchorage is 26 percent above the national average
  • Juneau is 38.8 percent above the national average

These higher prices are also reflected in meals out. A typical three-course meal for two is $90 in Fairbanks, $75 in Anchorage and $54 in Juneau. It’s interesting to note, though, that the city with the least expensive food prices will cost you 17 percent more for a night out than the most expensive city for food on our list.

Utility prices

Electricity is the big utility in Alaska, and on average, monthly bills are pretty high. Juneau and Anchorage will cost you just over $100 per month, but in Fairbanks, average electric bills hit as high as $225.

Overall, utility prices in Alaska break down like this:

  • Anchorage is 20.5 percent above the national average
  • Juneau is 32.6 percent above the national average
  • Fairbanks is 109.2 percent above the national average

There are multiple sources generating electricity in Alaska, including natural gas and hydropower. In fact, rivers in Alaska offer some of the best hydroelectric power in the U.S. The state also has energy-producing capabilities through wind energy along the coast, and its many volcanic fields may lead to a source of geothermal energy.

Transportation prices

Although across the state, you’ll find a low walk score overall, most cities have highly walkable areas, especially those along the coast that cater to cruise ships. Some cities, weather permitting, provide for decent biking, but public transportation and your own car are pretty necessary.

When compared to the rest of the country, cities in Alaska all have transportation prices higher than the national average.

  • Fairbanks is 9.2 percent above the national average
  • Anchorage is 14.5 percent above the national average
  • Juneau is 17.3 percent above the national average

Not necessarily as high as other aspects that contribute to your overall cost of living, most cities supplement the cost of owning a car by providing adequate public transportation.

MACS in Fairbanks

The Metropolitan Area Commuter System or MACS in Fairbanks is a bus system consisting of eight routes. It focuses on the urban areas, North Pole, Farmers Loop and the airport.

You can purchase a single-way fare, if you’ve got the cash, for $1.50, but it’s much easier to go with a $ 3.00-day pass or a $40 monthly pass. The monthly passes are only good in the calendar year in which they’re purchased.

Muni in Anchorage

In Anchorage, the Muni system gets broken down by route type. You’ve got:

  • Frequent routes
  • Standard routes
  • Neighborhood routes
  • Commuter routes

They’re all pretty self-explanatory based on their name, so if you live close to the city center, you’re most likely using those frequent routes to get around town. A single-way fare on Muni is also cash only at $2.00. A day pass will cost you $5.00, and a monthly pass is $60.

Capital Transit in Juneau

Fifteen bus routes that come together to circle the city of Juneau make up Capital Transit. They hook around the University of Alaska at one end, and go slightly past the downtown area at the other, making a variety of stops in between.

A single-way fare, again cash only, is $2.00, but you can save some money and buy a $40 monthly pass, instead.

Healthcare prices

The cost of living in Alaska for healthcare is higher than anywhere else in the country. This impacts prices for medical visits, as well as medications.

  • Juneau is 49.4 percent above the national average
  • Fairbanks is 52.7 percent above the national average
  • Anchorage is 53.2 percent above the national average

Looking at the average cost of a doctor’s visit, all three of these cities are within $10 of each other regarding cost. It makes sense considering how close they rank in relation to their city-wide averages for healthcare, as well. The average trip to the doctor’s in Juneau is $227.67.

Goods and services costs

Consisting of all the things you like to have in your life, but don’t require to survive, goods and services can quickly suck up a large portion of your monthly budget. Understanding average pricing in this area can really help you create realistic expectations for your cost of living in a state like Alaska.

  • Juneau is 5.4 percent above the national average
  • Fairbanks is 18.4 percent above the national average
  • Anchorage is 24.5 percent above the national average

To see how this plays out in a few line items, check out this chart of key goods and services.

Vet bills may average out so high across the state thanks to a large number of working dogs in Alaska. Yes, people keep them as pets, but you’ve got sled dogs, working outside in the cold, as well.

Childcare costs

Another service people frequently need at some point in their lives is childcare. This service, in particular, can have a huge sticker shock when looking at the bill. Knowing what to expect in advance can not only make it easier to budget for this important service but enable you to look at the quality of the preschool over the price.

For a full-day, private preschool, it will cost you:

Taxes in Alaska

Alaska is one of only nine states with no state sales tax and no income tax. Instead, taxes get placed on other things like gas and cigarettes.

Local areas are able to impose a sales tax if they want. Totaling those up together, the average rate across the state is 1.76 percent. But, cities like Fairbanks and Anchorage are still at zero for sales tax. Juneau charges 5 percent.

That means that most of the time you’re out shopping, all the money you’re paying goes toward the cost of the goods you’re buying. You’re not having to deal with a markup related to sales tax (unless you’re shopping in Juneau).

How much do I need to earn to live in Alaska?

To align your budget perfectly with the cost of living in Alaska, it’s best to do some number crunching using our rent calculator. However, if you want to work through a quick estimate, it’s best to just look at rent. Since rent should take up about 30 percent of your income, a quick equation can help you figure out what your minimum salary.

So, the average rent in Alaska is $683, which means you need $27,320 for your minimum salary. This won’t create a problem since the average Alaskan’s salary is more than double at $62,700. While lower rents will cluster in the more rural areas, and some urban areas could have higher prices, it’s not problematic to fit Alaska housing into your budget with money left over for all the other costs of living.

Living in Alaska

Considered by some as America’s last frontier, living in Alaska is never boring. The natural beauty, outdoor activities and crazy amount of wildlife make even a trek to the store a potential adventure. And, while you may not have a ton of neighbors, there’s something about living a more chill life in a less populated area.

If you can weather the cold, and want to experience living in a place unlike any other in the country, Alaska is for you.

The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of June 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Source: rent.com

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From beer to barbecue to blues, Missouri has you covered when it comes to having a good time. There are so many reasons to make this scenic Midwestern state your home. For one thing, Missourans are incredibly kind and welcoming. You’ll be feeling like a local in no time.

For another, the arts, culture and history of this state are woefully overlooked. Missouri is the birthplace of famous musical styles like St. Louis Blues and Kansas City jazz. Many creative luminaries originally hail from Missouri, including the likes of Chuck Berry and Mark Twain. It’s the home of Anheuser-Busch, the biggest beer producer in the world, and is a hub for craft brewing. It’s also a foodie state, especially for the famed Kansas City barbecue. For nature lovers, Missouri’s many metropolitan cities are close to picturesque destinations like the Ozarks and the Missouri Rhineland.

All the above information would be reason enough to pack up and move to Missouri. But we haven’t even touched on the best part. Missouri is a very affordable state. Nearly all cost of living categories in Missouri falls below the national average. Some bigger cities and metro areas have higher prices, but by most “big city” standards, they’re entirely reasonable. So, whether you want to comfortably live close to nature or in a major city, Missouri could be the state for you. Here’s how the cost of living breaks down in different Missouri cities and metro areas around the state.

Missouri housing prices

Of our highlighted Missouri cities, nowhere exceeds the national average. With housing costs rising drastically around America, a state offering lower-than-average housing rates is a refreshing change of pace. There are plenty of affordable places to live around the state. Let’s zoom in and take a closer look at what you can expect to pay in average rents and home prices in some major Missouri cities, a cost of living, for sure.

Columbia

Home to the University of Missouri, the mid-sized city of Columbia in central Missouri is big on the college town vibes. That also means it’s a very affordable place to live. Housing costs here are 14 percent lower than the national average.

You can find a one-bedroom apartment around town for $800, up 10 percent from last year. But, for just over $100 more, you can size up and rent a two-bedroom apartment instead. The price for two bedrooms is up just 6 percent from last year.

Housing prices here are the highest of our highlighted Missouri cities. Rising 17.6 percent from last year, homes in Columbia have a median sales price of $300,000. So, while there are many affordable aspects of living in a college town, taking out a mortgage isn’t one of them.

Kansas City

Kansas City in western Missouri is famously split between Missouri and neighboring Kansas City, KS. Here, you’ll have access to everything from world-class barbecue to excellent live music. However, with so much to offer residents, housing costs in this popular city are barely below the national average. The cost of housing in Kansas City is only 0.4 percent below the national average. But there are plenty of affordable Kansas City neighborhoods to choose from.

Renting a one-bedroom apartment costs an average of $1,212 per month, up 7 percent from last year. Up slightly from last year, two-bedroom apartments will set renters back $1,493.

For such a buzzy city, Kansas City’s housing market isn’t terribly high. Here, the median sales price for a house is only $278,000. This figure has risen 12.6 percent from last year. This makes it the second-highest city for home buying costs on our list.

Springfield

This “Queen City of the Ozarks” in southwestern Missouri has the feel of a small town in a big city package. It’s Missouri’s third-largest city. The heart of town has great dining, shopping and museums. But just outside of town, you can explore an underground cave and go hiking or boating in local forests and lakes. Springfield has the lively feel of a larger city. But its friendly locals and a strong sense of community is one thing that screams “small town”. Another thing that screams smaller city? Attractively low rent prices.

Springfield is 25 percent below the national average for housing costs. A one-bedroom apartment costs $672 for the month, and a two-bedroom runs roughly $782. Both these rates are up 9 and 10 percent, respectively, from the previous year. So, there’s some small growth, but rates are still a steal.

Home prices are similarly appealing compared to the national average median sales price of $430,695. The median sales price for a home in Springfield is $244,000. However, this number has spiked 235.8 percent from last year. So, home prices here may not stay affordable forever.

St. Louis

Located along the banks of the Mississippi River, St. Louis is best known for cultural landmarks like its massive Arch. But it’s also an extremely friendly and safe city full of fun neighborhoods. Locals have access to everything from a robust craft beer scene to live sports like watching Cardinals games. As one of Missouri’s biggest and best-known cities, one would expect housing prices are up there. While they’re high by Missouri standards, they’re a steal elsewhere.

At 27.7 percent below the national average, St. Louis is actually the cheapest of our highlighted Missouri cities. The average rent for a one-bedroom apartment is $1,131 per month. Renting a two-bedroom apartment jumps up to $1,384. However, with the exception of studio apartments, rental unit prices are down across the city. One-bedrooms are down 12 percent and two-bedrooms are down 8 percent.

If you want to buy a home in Missouri, St. Louis is a great place to do so. The median sales price for a house here is $213,650, which is up only 1.7 percent from 2021. So, whether you want to rent or buy, the Gateway to the West is apparently also the gateway to affordable big city prices.

Food prices

Another cost of living in Missouri is food. Missouri comes in 12th place for the lowest food costs of all 50 states. Locals here spend between $2,400 and $2,800 per person annually for food. That comes out to between $200 and $233 per month. This ranks toward the low end of grocery spending around America. That means you’ll be paying even less for those delicious Missouri specialties like barbecue and St. Louis-style pizza.

On a city-by-city basis, the cost of food falls below the national average. Here’s how food spending in each city compares to the national average:

  • Kansas City is 7.8 percent below the national average
  • Springfield is 3.5 percent below the national average
  • St. Louis is 3.3 percent below the national average
  • Columbia is 2.3 percent below the national average

Out of these four major Missouri cities, Kansas City is where you’ll be paying the least for your grocery bill. But specific food costs can still vary by city. Even if one city has an overall lower rate for food, some items are more expensive. For example, in Kansas City, the price for a dozen eggs is $1.70. This is the highest of the four cities. The lowest price for a dozen eggs are found in Columbia at $1.36. As another example, a half-gallon of milk in Springfield will set you back $2.44. For this particular food item, that’s the highest you’ll pay in these four cities. The lowest is $1.89 in Springfield.

Food costs also come into play when dining out. St. Louis and Kansas City, in particular, are major foodie cities. Going out for date night to a nice sit-down restaurant for a three-course meal is higher in both St. Louis and Kansas City than in other cities around the state. You’ll be paying around $70 in Kansas City and $60 in St. Louis. In Springfield and Columbia, the same meal would only cost $50.

Utility prices

The biggest parts of a monthly utility budget go to electricity, water and internet, costs of living in Missouri. One downside of living in Missouri is that 74 percent of its electricity comes from coal-powered plants. However, renewable energy is on the rise, specifically wind power. So, more eco-friendly utilities may soon be more widely available around the state. But, it’s also hard to complain when utility costs are cheaper and below the national average. Here’s how the cost of utilities in different Missouri cities compares to the national average:

  • Springfield is 13.2 percent below the national average
  • St. Louis is 4.4 percent below the national average
  • Columbia is 2.9 percent below the national average
  • Kansas City is 2.6 percent above the national average

Kansas City is the most expensive city for utility costs. Here, you’ll be paying $178.88 for total energy costs compared to $130.64 in Springfield. For internet, you’ll pay the most in Springfield, though. Getting 60 megabits per second comes with a price tag of $74.12. But in St. Louis, internet only costs $58.50. Utility costs can vary widely by city.

Transportation prices

In keeping with its trademark-friendly and helpful image, Missouri offers public transportation throughout the state. Major cities and metro areas have extensive systems, and even rural communities have access to some form of mass transit. Missouri only notes that for rural areas, service may have limited hours and availability. So, no matter where you live in the state, there are ways to get around that don’t require a car.

Another benefit is that the cost of living in Missouri for transportation overall is lower than the national average. It’s a great way to save more money on gas, car insurance, vehicle repairs and other expenses related to owning a car. Of these four Missouri cities, St. Louis has the lowest transportation costs:

  • St. Louis is 16.5 percent below the national average
  • Kansas City is 13.4 percent below the national average
  • Springfield is 7.5 percent below the national average
  • Columbia is 4.2 percent below the national average

Let’s look into how three of Missouri’s most extensive public transportation systems operate and what they cost.

Sangamon Mass Transit District in Springfield

Servicing Springfield and the greater Springfield area in Sangamon County, the SMTD operates 17 fixed bus routes. A single adult fare is $1.25, with free transfers included when you request a transfer ticket. The price for a day pass is $3.00. Instead of a flat monthly pass, you can get 20 rides for $20.

Using public transit or having a car is important for getting around Springfield with ease. The city’s walk score is 44, and its bike score is 57. Outside of the downtown and city center areas, it’s not the most walkable small city.

Metro in St. Louis

Consisting of bus routes and light rail, Metro in St. Louis provides service to the greater St. Louis metropolitan area. Riders have 77 different bus routes to choose from, as well as two light rail lines. Respectively, the MetroBus and MetroLink.

Starting fare for a single ride is $1 for the bus and $2.50 for rail. Purchasing a monthly pass with access to the entire system is $78.

Even though Metro provides an affordable and efficient way to get around town, there are many places you can get to in St. Louis on foot or by bike. With a walk score of 60 and a bike score of 52, there are plenty of areas you can navigate without needing a car.

RideKC in Kansas City

Kansas City gets its public transit through RideKC, which provides a blend of bus and street car transportation. What is the cost to use this service? Zero. Through 2023, RideKC buses and the street car have zero fares. So, if you’re looking to save on commuting or getting around town, this is the place to do so.

However, Kansas City’s public transportation only has a transit score of 37. Its walk and bike scores are similarly low at 48 and 43, respectively. Even though certain areas of Kansas City are walkable or bikeable, a car is necessary to get around town.

Healthcare prices

It’s easy to look at the lower-than-national-average cost of living figures for MIssouri and get excited about the potential savings. But, there’s one cost of living category that comes with a huge asterisk. Healthcare is a very difficult category to quantify because it varies so widely. Particular regions or states may have more expensive healthcare due to environmental factors like air quality.

From person to person, healthcare costs vary widely, too. Your neighbor may pay much more for their doctor’s visits because they have a preexisting condition. Other factors that can drive up a person’s healthcare costs are prescription drug prices, insurance premiums and out-of-pocket expenditures.

That’s why healthcare averages should always be viewed with a grain of salt. But, in general, the cost of healthcare in many Missouri cities falls under the national average:

  • Kansas City is 9.7 percent below the national average
  • St. Louis is 8.9 percent below the national average
  • Columbia is 8.2 percent below the national average
  • Springfield is 1.7 percent above the national average

Kansas City has the lowest overall percentage of the four highlighted cities. Going to the doctor’s office there for a check-up costs $89.77. But this is a perfect illustration of the fact that healthcare is so subjective. Even though Kansas City has the lowest average, some individual costs are higher. A doctor’s visit actually costs less in St. Louis at $87.28. On the flip side, a bottle of Ibuprofen in St. Louis costs $11.91 compared to $9.55 in Columbia.

Unless you have specific healthcare needs, it’s a good idea to visit your doctors and dentist at least once a year. If you neglect your health in the short term to save money, it may backfire in the long term. So, it’s always better to get regular check-ups.

Goods and services prices

Say you went out for a heaping plate of delicious Kansas City barbecue and accidentally spilled some tangy barbecue sauce on your shirt. You take it into the dry cleaners to get the stain treated and cleaned. Or, perhaps the shirt is beyond repair and you need to go get a new one. These goods and services also are a part of how much you spend each month as part of your cost of living expenses in Missouri.

Some expenditures are more important, like getting your haircut. Others are more about leisure and enjoyment, like going to the movies. Either way, they all contribute to a well-balanced, happy life. But, all these little items and services do add up, so you need to watch your spending.

Similar to most other costs of living categories in Missouri, miscellaneous goods and services fall below the national average. The only exception is Columbia, which just peeks over the top of the national average:

  • St. Louis is 12.6 percent below the national average
  • Springfield is 9.1 percent below the national average
  • Kansas City is 8.7 percent below the national average
  • Columbia is 3 percent above the national average

You may find yourself paying more or less for particular items that do or don’t reflect the city’s overall higher or lower averages. Take the dry cleaning, for example. At its most expensive rate around Missouri, going to the dry cleaners costs $15.75 in Columbia. In St. Louis, it’s $13.44. But that’s not even the cheapest it gets. The cheapest is in Springfield at $12.35. In another example, Kansas City has the highest movie ticket prices at $11.61. In Columbia, they’re $10.74.

With such friendly residents and safe cities, Missouri is a very family-friendly state. So, you may find yourself in need of childcare. This monthly expense varies widely across the state. For sending your child to a full month of private preschool or kindergarten, the most expensive city is St. Louis. There, you’ll be shelling out $1,126.33 each month. Springfield offers the cheapest childcare, at a worryingly round number of $666.67.

Taxes in Missouri

Missouri has a statewide sales tax rate of 4.225 percent. If you go out and spend $1,000 on a Kansas City barbecue or tickets to fabulous musical shows, $42.25 goes to taxes.

But, cities and counties do add their own sales tax to the statewide rate. In these cities, you’ll be paying more in sales tax:

  • Columbia has a combined tax rate of 7.975 percent
  • Springfield has a combined tax rate of 8.1 percent
  • Kansas City has a combined tax rate of 8.85 percent
  • St. Louis has a combined tax rate of 9.679 percent

While Missouri’s statewide sales tax is reasonable, those city and county taxes definitely add up. You’ll be paying the most in additional sales tax living in St. Louis. For every $1,000 you spend, $96 will go to taxes.

How much do I need to earn to live in Missouri?

To comfortably live in any given place, experts recommend that you only spend 30 percent of your gross monthly income on rent. That leaves sufficient funds left over for groceries, savings, fun activities and more. In order to only spend 30 percent of your monthly budget on housing based on Missouri’s average rent of $1,245 for a one-bedroom apartment, you should make around $49,800 annually. That breaks down to $4,150 per month.

Since Missouri’s median household income is $57,290, most people can reasonably afford to live in Missouri.

If you’re unsure which Missouri cities could fit your budget, use our handy rent calculator to find out.

Living in Missouri

From the low cost of living to beautiful landscapes and friendly neighbors, there are so many reasons to consider Missouri for your next home base. You’ll be paying below the national average in most major categories like housing and groceries. You have a wide range of types of cities to decide between, from intimate smaller cities to sprawling metropolises. All kinds of lifestyles, price ranges and living experiences are on the table in Missouri.

Related articles:

The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of June 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Source: rent.com

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Are you dreaming of settling down in a charming small town? Look no further – in this article, we’ll take you on a journey through some of the most delightful small towns in Texas, each with its unique character and attractions. From affordable living to picturesque landscapes, these towns have something special to offer. 

We’ll explore their median sale prices and Walk Scores, giving you a glimpse into their real estate market and walkability. Join us as we uncover the beautiful towns of Sweetwater, Tuscola, Baird, and many more. 

1. Sweetwater, TX

Median Sale Price: $300,000

Walk Score: 51

Nestled in the heart of West Texas, Sweetwater boasts a perfect blend of small-town charm and vibrant community life. Sweetwater is known for hosting the largest Rattlesnake Roundup in the world, an event that draws visitors from all over the country. If you’re a history buff, don’t miss the Pioneer City County Museum, where you can delve into the region’s rich past. Enjoy a leisurely stroll through Newman Park, or satisfy your sweet tooth with a visit to a local bakery. 

Homes for sale in Sweetwater, TX

Apartments for rent in Sweetwater, TX

2. Tuscola, TX

Median Sale Price: $275,325 

Walk Score: 31

Tuscola is a small town that exudes tranquility. The scenic views and open spaces make it a perfect place for nature lovers. Take a leisurely hike in Jim Ned Creek Park, and you’ll find yourself immersed in the beauty of the Texas countryside. Tuscola is known for its friendly residents who warmly welcome newcomers. Be sure to explore the local shops and savor some homestyle Southern cuisine at the charming restaurants. 

Homes for sale in Tuscola, TX

Apartments for rent in Tuscola, TX

3. Baird, TX

Median Sale Price: $330,000 

Walk Score: 42

Baird is an attractive option for homebuyers seeking an affordable place to live in Texas without compromising on comfort. Baird’s pride lies in its memorable architecture and rich history, evident in the Baird Railroad and Historical Museum. For nature enthusiasts, Bonham Park is a great spot for a family picnic or a relaxing afternoon. With a welcoming community that embraces its past while moving towards the future, Baird embodies the true spirit of Texas hospitality.

Homes for sale in Baird, TX

Apartments for rent in Baird, TX

4. Potosi, TX

Median Sale Price: $408,000 

Walk Score: 5

This small town in Texas offers a slice of countryside living. Although the Walk Score of 5 indicates a car-dependent lifestyle, residents here relish the tranquility and open spaces that the town provides. Potosi is a paradise for those who love the outdoors, surrounded by picturesque landscapes and scenic trails. Enjoy a day at the Possum Kingdom State Park, where you can swim, hike, or simply bask in nature’s beauty. This town may be off the beaten path, but its charm is seen throughout the community.

Homes for sale in Potosi, TX

Apartments for rent in Potosi, TX

5. Bellaire, TX

Median Sale Price: $1,200,000

Walk Score: 67

Bellaire effortlessly blends urban sophistication with suburban tranquility. The Walk Score of 67 is a testament to the town’s pedestrian-friendly streets, encouraging residents to explore its diverse dining and shopping options. Known for its top-rated schools and lush green parks, Bellaire is a haven for people seeking a vibrant community with a strong focus on education and recreation. Don’t miss out on the charming Bellaire Town Square, where locals gather for various events and festivities throughout the year.

Homes for sale in Bellaire, TX

Apartments for rent in Bellaire, TX

6. Southside Place, TX

Median Sale Price: $1,725,000 

Walk Score: 85

From cozy coffee shops to high-end boutiques, Southside Place caters to a diverse range of tastes and preferences. Take a leisurely stroll through the immaculately maintained streets, and you’ll be charmed by the town’s architectural beauty. Southside Place is known for its strong sense of community, where neighbors come together for social gatherings and local events. For those seeking a sophisticated and upscale lifestyle, Southside Place is the epitome of refined living.

Homes for sale in Southside Place, TX

Apartments for rent in Southside Place, TX

7. Hedwig Village, TX

Median Sale Price: $1,560,000 

Walk Score: 67

Hedwig Village is known for its excellent schools and friendly environment, making it a great place to settle down. For a delightful afternoon, head to the Hedwig Village Park, where you can enjoy a picnic and watch children play. With a welcoming atmosphere and a myriad of recreational opportunities, Hedwig Village is an inviting destination for those seeking a balance between luxury and community life.

Homes for sale in Hedwig Village, TX

Apartments for rent in Hedwig Village, TX

8. Galena Park, TX

Median Sale Price: $184,000 

Walk Score: 35

Galena Park is dotted with parks and green spaces that make it a fantastic place for residents to enjoy outdoor activities. Explore the Galena Park Historical Museum, which showcases the town’s rich history and cultural heritage. The annual Galena Park Ole-Tyme Festival is a celebration of the town’s vibrant spirit, bringing together locals and visitors for a weekend of fun and festivities. Galena Park may be small, but its big heart makes it a wonderful place to call home.

Homes for sale in Galena Park, TX

Apartments for rent in Galena Park, TX

9. Bishop, TX

Median Sale Price: $176,000 

Walk Score: 33

This small town is renowned for its annual Cotton Festival, where visitors can experience the region’s agricultural heritage through parades, pageants, and more. Bishop’s warm climate makes it an ideal location for outdoor activities like fishing, hiking, and birdwatching. Experience the joy of small-town living in Bishop, where neighbors become lifelong friends.

Homes for sale in Bishop, TX

Apartments for rent in Bishop, TX

10. Agua Dulce, TX

Median Sale Price: $105,000 

Walk Score: 22

Agua Dulce is a paradise for outdoor enthusiasts, offering ample opportunities for horseback riding, hiking, and stargazing. Visit the Agua Dulce Vineyards for a taste of locally produced wine or explore the nearby Lake Corpus Christi State Park for a day of water-based fun. Agua Dulce’s friendly community and serene environment create an idyllic setting for those seeking a slower pace of life.

Homes for sale in Agua Dulce, TX

Apartments for rent in Agua Dulce, TX

11. Balch Springs, TX

Median Sale Price: $255,500 

Walk Score: 52

Balch Springs prides itself on its strong sense of community, with numerous events and gatherings throughout the year. Visit the Balch Springs Historical Park to learn about the town’s past and its cultural significance. Outdoor lovers will enjoy the area’s lush green spaces, providing the perfect backdrop for picnics, sports, and family gatherings. Balch Springs embodies the essence of small-town charm with all the amenities and conveniences of modern living.

Homes for sale in Balch Springs, TX

Apartments for rent in Balch Springs, TX

12. Lancaster, TX

Median Sale Price: $288,000 

Walk Score: 39

Lancaster, offers a thriving community with a rich historical heritage. Explore the Historic Town Square, where you’ll find charming boutiques, restaurants, and art galleries. The Lancaster Community Park offers a range of amenities, including playgrounds, sports fields, and walking trails. Lancaster is known for its commitment to the arts, with local theaters and community events celebrating creativity and culture. Discover the warmth and vibrancy of Lancaster, where past and present seamlessly coexist.

Homes for sale in Lancaster, TX

Apartments for rent in Lancaster, TX

13. Hutchins, TX

Median Sale Price: $281,000 

Walk Score: 43

Hutchins provides an affordable living option close to the bustling city of Dallas. The Walk Score of 43 suggests a car may be necessary for daily errands, but the town’s proximity to major highways makes commuting a breeze. 

Spend a relaxing afternoon at Grimes Park, or explore the nearby Trinity River Audubon Center, home to diverse wildlife and stunning landscapes. Hutchins offers the perfect balance between city conveniences and small-town charm, making it an attractive destination for those seeking a suburban lifestyle.

Homes for sale in Hutchins, TX

Apartments for rent in Hutchins, TX

14. Duncanville, TX

Median Sale Price: $340,000 

Walk Score: 84

Duncanville is home to numerous parks, ensuring that residents have ample opportunities for outdoor recreation. The city’s vibrant downtown district boasts an array of shops, restaurants, and cultural attractions. Duncanville’s commitment to community engagement and its focus on arts and culture make it a truly special place to call home.

Homes for sale in Duncanville, TX

Apartments for rent in Duncanville, TX

15. Highland Park, TX

Median Sale Price: $2,610,000

Walk Score: 33

This town’s exquisite architecture and lush landscapes make it a picturesque retreat. Highland Park is known for its affluent community and proximity to Dallas’ cultural and recreational offerings. Visit the Dallas Country Club for a round of golf or unwind at the Katy Trail, a popular spot for joggers and cyclists. The town’s commitment to preserving its natural beauty and architectural heritage has earned it a reputation as one of Texas’ most prestigious communities.

Homes for sale in Highland Park, TX

Apartments for rent in Highland Park, TX

Wrapping up the small towns in Texas

From the tranquil charm of Sweetwater to the luxurious allure of Highland Park, these small towns in Texas have something for everyone. Whether you seek affordable living, close-knit communities, or upscale amenities, these towns offer a diverse range of experiences. Embrace the unique character and attractions of each town, and you’ll discover the true essence of Texas hospitality.

Source: redfin.com

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After spending months researching and applying to colleges, you’ve finally decided on a school.

You should be proud of this achievement. But weighing and comparing schools isn’t the only decision you’ll be faced with. At some point, you’ll also need to choose a major.

Many college freshmen haven’t settled on a field of study, so you’re not alone if you’ve been wondering, “What should I major in?” Choosing what to study at college can feel nerve-racking, but it doesn’t have to be that way.

There are steps you can take to make an informed decision you’ll be happy with. One tool that can help you narrow your options? Taking a college major quiz.

Read on to learn more about choosing a major, take our college majors quiz, and then discover the strategies that will help you pick the right major.

When Is It Necessary to Declare a Major?

Schools usually require that you declare a major by the end of your sophomore year. Generally, there’s not a particular rush to declare. What’s more important is that you take a variety of classes if you’re still trying to figure out “what should I major in?,” to find the subjects that interest you most.

Just be aware that if your chosen field requires sequential classes, you may not be able to take quite as long to shop around for a major. For instance, it’s easier to switch out of being a science or engineering major than it is to switch into that field.

Why Choosing the Right Major Is Important

Your college major is the first stepping stone to your career. It won’t decide your entire career path, just as your first job won’t determine your entire career, but it will launch you on a particular trajectory and help you develop certain skills you’ll need to be successful.

Practically, you’ll want to choose a major with college program costs you can afford, that will pay you the kind of income you’re looking for, and has good employment prospects for the future.

On a more personal level, some of the most important considerations are: Is it something that truly engages you? Does it set you up for a career that you’ll enjoy? And does it suit your personality?

It seems obvious to say that you should choose a degree based on your interests, but it’s a consideration that you should respect. True engagement in a topic can have numerous ripple benefits. For instance, you’ll probably be more motivated and committed to lifelong learning and less likely to feel burnt out in school or later in your career.

College Major Quiz

Now that you understand why the right major is important, take this college major quiz to help answer the question, “which college major should I choose?”, and find the right area of study for you.

Satisfaction Survey Results

How do college graduates feel about the majors they chose? BestColleges.com conducted a survey to see how happy college graduates were with their choice of major. The survey asked numerous questions, with results tabulated for each question from each of the following generations: Millennials, Gen X, Baby Boomers, and the Silent Generation.

Here are three key findings:

•  61% of respondents would change their major if that were possible.

•  About 26% of participants would change their major to reflect their passions.

•  About 30% of the Millennials who participated said they should have chosen a major with better job opportunities.

It’s important to remember that this survey focused on people who graduated and were looking back at decisions they’d already made about their majors. As a current college student, you still have the ability to make the right decision.

6 Steps to Choosing Your College Major

Here are some key steps you can take to find the best college major for you.

1. Exploring

What’s tough about making a decision about which major to choose when you’re a teenager is that you haven’t tried a lot of things yet. The first year or two of college is a fine opportunity to explore, even if you think you know what major you’ll choose.

To begin, think about what you enjoy and what you’re good at. In addition to subjects, include skills such as leadership or organization. Next, consider the majors that match up with those interests. Branch out beyond the same subjects you took in high school.

Sign up for academic or pre-professional clubs—they’re a great way to learn more about career possibilities, create a support network as you’re enrolling in classes, seek out job-related opportunities, and meet people who share your interests. If you plan on working while you’re in college, find a job in a field you’re interested in.

2. Talking to People

As you’re thinking about, what major should I choose?, speak with other students, professors, and guest lecturers about their career experience. You’re likely to learn more about what a career is like by talking to someone with real-life experience.

Find a career counselor at your school who is willing to discuss with you options for majors and career opportunities.

It’s also no secret that we can have very skewed opinions of ourselves. Often, we’re too hard on ourselves or don’t recognize our own talents. It can help to have conversations with the people in your life (family, friends, teachers, coaches, and so on) whom you know will provide constructive observations and advice. It’s entirely possible that you’ll learn something about your strengths you never knew before.

3. Thinking About the Money

While no one expects that you have money figured out, you should have a general idea about how the decisions you make in college will affect you later in life.

First, investigate the starting salaries for different majors and entry-level jobs. This is an especially important exercise if you have student loans. As you’re choosing a major, it’s helpful to understand the basics of student loans and what they cover.

For instance, you’ll need to be aware of when you need to start putting money toward student loans, and how much your payments might be. Your loans can affect your financial future for many years, so make sure your major and career of choice will allow you to cover what you owe.

Even if you don’t have student loans, having a realistic idea about salaries, job availability, and cost of living in the area where you expect to live is important. Find a major that works within your budget and schedule.

It’s also important to look ahead. Is a career of choice expected to be in demand in the future? Is the demand expected to actually increase?

Recommended: Private Student Loans Guide

4. Getting Granular

At this point, it may be obvious to you which major is best. If not, and you’re still asking, “what major should I choose?”, a good strategy can be to create an in-depth list that includes:

•  Your strengths

•  Your weaknesses

•  Activities you enjoy

•  Tasks you dread

Also ask a college counselor if you can do aptitude testing. Are career fairs that you can attend coming to your school? Do some volunteer work or see if you can secure an internship in an area of special interest. Spread your net wide and take all you’ve listed and learned to make a choice that’s right for you.

5. Post-graduate Plans?

Is a bachelor’s degree what’s needed for the career you’re considering? Or will more schooling be required? Before finalizing your major, it makes sense to be clear about how much education you’ll need for a particular job.

If a master’s degree or more is required, is this something you’re interested in pursuing? And can you afford it?

And again, it makes sense to think about your student loans and the repayment terms they have. One thing to know is that you don’t necessarily have to stick to those terms if they won’t work for you. Refinancing student loans could help you get a more favorable rate and term, and possibly make your payments more affordable.

When you refinance, you replace your current loans with a brand-new private loan. It’s important to explore the advantages of refinancing student loans as well as the disadvantages.

One thing to know is that refinancing federal student loans makes them ineligible for federal programs and protections, like income-driven repayment plans. If you think you’ll need access to these benefits, refinancing may not be the best choice for you.

6. Filling in the Gaps

Once you choose a major, you might also want to select a minor. Having a minor opens up another academic discipline and can provide you with additional skills that can help you pursue your ideal career.

If, for example, you want to become a psychiatrist, it can make sense to have a business minor if you want to open a solo practice.

Whenever possible, it makes sense to choose a minor at the same time you declare your major. This allows you to strategically schedule classes so you can graduate within the planned time frame.

In the end, no matter what major and minor you decide on, know that your flexibility, creativity, and passion for life-long learning will have much to do with your success.

SoFi Private Student Loans

As you’re determining your major and also thinking about paying for college, student loans can help you cover some of the cost of college. If you’re exploring student loan options, shop around for the best rates and terms. SoFi private student loans have low fixed or variable interest rates and no fees. It’s easy to apply online and you can add a cosigner in just minutes. Additional benefits include exclusive member discounts and the flexibility to choose from multiple repayment options.

Students are encouraged to explore their federal student loan options before applying for any private loans. Federal student loans come with benefits that may not be offered by private lenders. Private student loans can also be more expensive than federal student loans.

If you have student loans and you’d like to lower your monthly payments, refinancing might be one way to do it. SoFi offers loans with low rates, flexible terms, and no fees. And you can find out if you prequalify in just two minutes.

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

SoFi Student Loan Refinance
NOTICE: The debt ceiling legislation passed on June 2, 2023, codifies into law that federal student loan borrowers will be reentering repayment. The US Department of Education or your student loan servicer, or lender if you have FFEL loans, will notify you directly when your payments will resume For more information, please go to https://docs.house.gov/billsthisweek/20230529/BILLS-118hrPIH-fiscalresponsibility.pdf https://studentaid.gov/announcements-events/covid-19

If you are a federal student loan borrower you should take time now to prepare for your payments to restart, including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income based repayment plans or extended repayment plans.

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Source: sofi.com

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There’s more to Nevada than Sin City. This western state is known for its mesmerizing desert landscapes, neon-tinged cities and lively entertainment and nightlife industries. The state offers plenty of great places to live and call home.

In equal measure, Nevada beckons to nature lovers and city-dwellers alike. Except for a handful of small towns and cities primarily centered around major interstates and highways, central Nevada is all nature. National parks like Death Valley and Great Basin offer a range of landscapes to discover and explore, from stark deserts to Colorado-esque mountain valleys. But cities like the legendary Las Vegas are hubs for endless entertainment, art, culture, dining and industry. Suffice it to say that Nevada has a bit of everything.

But, is it right for you? For the most part, Nevada offers residents a fairly affordable cost of living, Most areas of spending, like housing or groceries, are near or slightly above the national average. Some are even below the national average. Even though Nevada is known for its excess spending thanks to its many casinos, living here is achievable for the average budget. You could even bet on it. But you probably shouldn’t. This is what you can expect to pay for the cost of living expenses in Nevada like housing and groceries.

Nevada housing prices

Nevada’s housing costs are higher than the national average. Living in one of Nevada’s bigger metro areas like Las Vegas does come with higher prices. But with those higher rates, you also get access to city perks like fine dining, shows, entertainment and world-class shopping.

Here’s what the average rent looks like in two of Nevada’s biggest and most popular cities.

Las Vegas

This city needs almost no introduction. With a population of around 646,790, Vegas is a popular hub for entertainment, gambling, nightlife and glitz. But behind all the glamor and shine of The Strip is a real city full of unique neighborhoods, art, culture, multicultural cuisine and history. For being such a well-known vacation spot, housing prices here aren’t as inflated as they could be. The overall cost of housing is just 9.8 percent higher than the national average.

Renting a one-bedroom apartment around town will set you back $1,375 per month. This is down 3 percent from last year. But two-bedroom units are up 14 percent to $1,623 per month. Some neighborhoods will be more expensive than others. Luckily, there are tons of cheap but fun neighborhoods to choose from around Las Vegas.

If you want to buy a home in Nevada, Las Vegas is the more affordable option. Its median sale price for a house is $439,950, significantly less than in Reno. The housing market has been a big jump since last year, though, climbing 27.5 percent.

Reno

Known as the Littlest Big City in the World, Reno is a lively community of nearly 251,000 residents in northwest Nevada. It sits right alongside the California border. The overall cost of living here is reasonable, sitting only 4.9 percent higher than the national average. Housing prices here are the highest of our highlighted Nevada cities, sitting 18.7 percent above the national average.

Rents here are on the rise for all unit sizes. One-bedroom apartments cost an average of $1,547, which is up 5 percent from last year. A two-bedroom apartment averages $1,844 per month, also up 5 percent from 2021. These aren’t big increases, but they do point to an overall upwards trend.

However, Reno’s housing market is growing at a much faster pace. The median sale price for a house here is $580,000, which is up 18.5 percent from the previous year.

Food prices

Another cost of living in Nevada is dining and groceries. Residents spend between $2,801 and $3,200 per person in food costs each year. That comes out to between $233 and $266 per month. This puts Nevada’s food costs 10.8 percent above the national average. But those numbers are still on-par with more expensive states like California and New York. So, even though food costs here do exceed the national average, it’s still affordable to eat well here.

Thanks to all those bargain all-you-can-eat buffets, Vegas is the least expensive city in terms of food costs.

  • Reno is 4.8 percent above the national average
  • Las Vegas is 1.2 percent above the national average

However, just because Las Vegas has lower overall grocery costs, some food items here are still higher than in Reno. Picking up some steak will cost you $15.49 in Las Vegas but $13.68 in Reno. A half-gallon of milk is $3.07 in Reno compared to $2.34 in Vegas. Getting a dozen eggs will cost you $2.07 in Vegas but $1.81 in Reno.

With so many restaurants and buffets, both Reno and Vegas are great cities for dining out. While pricey, you’ll be paying about the same for a nice date night meal in both cities. Sitting down with your partner for a three-course meal at a nice restaurant will set you back $65 in Reno. The same kind of meal and outing in Vegas is slightly more affordable at $63.50.

Utility prices

Monthly utilities are another key consideration when deciding what state to live in. Every month, you’ll need to pay for essentials like electricity, water and internet. Utilities are one of the few costs of living areas in Nevada that are less than the national average. Looking at the cost of utilities around the state, you’ll be paying for your utilities in Reno than in Vegas.

  • Reno is 14.8 percent below the national average
  • Vegas is 2.4 percent below the national average

That being said, the cost of individual utilities doesn’t always reflect this. Reno residents pay around $134.45 for their total energy costs each month. Vegas residents pay far more at $173.88.

The average water bill in Nevada is $25. Nevada gets most of its water from the mighty Colorado River. However, most of the state is now in a severe drought, so most residents need to practice water-saving methods. Using less water in order to conserve water, it keeps the water bill down each month.

Transportation prices

In some ways, having a car is essential in Nevada. Its biggest metro areas are at opposite ends of the state from each other. Many Nevada residents also enjoy outdoorsy pursuits like hiking or climbing. This makes having a car a necessity. But if you mainly plan on staying around town, you can take advantage of public transit to save money.

According to the Nevada Department of Transportation, most communities around Nevada have access to some form of public transportation. Even many rural towns have transit options provided by local authorities. But while taking the car will save you money on gas and other car expenses, transportation costs around Nevada are higher than the national average. Here’s how these two Nevada cities stack up to the national average in terms of mass transit costs:

  • Reno is 17.9 percent above the national average
  • Las Vegas is 10.9 percent above the national average

As you can see, Reno is the more expensive option. Let’s take an in-depth look at public transportation options in both Reno and Vegas.

RTC in Reno

RTC Ride provides public transportation to the residents of Reno and Sparks in Washoe County. Their fleet of 70 buses operating 26 fixed routes has nearly 1,200 bus stops with their service area.

A single adult fare costs $2.00, but a full day pass only costs a dollar extra. A pre-purchased 31-day pass will set you back $65. Reduced fares are available for qualified residents like senior citizens, veterans and students at local colleges.

However, the majority of Reno residents still consider it necessary to have a car and easily get around. Even though RTC provides transit through the Reno metro area, it has a low transit score of 34. Similarly, the city’s walk and bike scores are only 52 and 59, respectively. While there are areas of Reno that are easy to navigate by foot, the overall city isn’t. So, whether you need to get across town or want to head to nearby Lake Tahoe, it’s a good idea to have a car in Reno.

RTC Southern Nevada in Las Vegas

Las Vegas and the greater Las Vegas Valley get their public transportation from RTC Southern Nevada. Its fleet of buses operates 38 fixed routes, servicing nearly 4,000 stops. Since Vegas is such a popular vacation spot, RTC offers both visitor and residential routes and fares. Take The Deuce, for example. So-called because the original buses servicing this route were double-deckers, this services the Las Vegas Strip and downtown. But, let’s focus on residential fares.

Bus tickets on residential routes cost $2 for a single ride, $3 for two hours and $5 for a full day. Students, veterans and other eligible citizens can get reduced fares for their rides.

If you plan on spending lots of time on the Strip, you can also use the Las Vegas Monorail. This 3.9-mile long monorail runs adjacent to the Strip, connecting many major casinos. It’s a great option for beating traffic. A 30-day unlimited pass costs $65. One ride costs $5. However, this option is primarily aimed at tourists.

Many Vegas residents still need a car to easily get around, though. Vegas’ transit score is a low 36. Apart from the Strip and downtown, Las Vegas is also not a very walkable city. Its walk score is 41 and its bike score is 46. You can get around neighborhoods or the Strip on foot or by bike, but the entire city is not accessible.

Healthcare prices

Due to its nature, it’s difficult to calculate healthcare averages. The cost of healthcare varies widely from person to person based on a variety of factors. These include the cost of prescription drugs, insurance premiums and out-of-pocket costs for doctor visits. Whether a person has a pre-existing condition or not can also affect their healthcare costs. It’s important to keep that in mind when looking at the average cost of healthcare in a given city. Just because one city is above or below the national average doesn’t mean the costs are exactly the same for each person.

Healthcare costs in Nevada vary widely by area. Some parts of the state are above the national average. Others rank below. Although it varies person-to-person, you’ll likely pay a bit more than the national average for healthcare in Reno.

  • Reno is 6.6 percent above the national average
  • Las Vegas is 3.9 percent below the national average

Unfortunately, Nevada doesn’t rank very well nationally in terms of healthcare. It’s considered one of the worst states when it comes to quality of healthcare. Going to the doctor’s office in Reno costs roughly $127.50 compared to $108.67 in Vegas. An over-the-counter bottle of Ibuprofen costs $15.04 in Reno. In Vegas, that same bottle would only cost you $10.83.

It’s important to plan doctor’s visits at least once a year. So, if the cost and quality of healthcare in Nevada don’t fit your needs, it’s not the best place for you.

Goods and services prices

Every month, it’s also important to budget for miscellaneous goods and services. These include basic things like going to get a haircut or seeing a movie. Some miscellaneous goods and services are essential, like getting new clothes or buying a toothbrush. Others are part of maintaining your personal lifestyle and doing things you enjoy. That can range from taking a yoga class to hanging out at a bar with friends and having a beer. With cities like Reno and Vegas that have active nightlife and entertainment scenes, budgeting for fun, out-on-the-town activities are essential.

Overall, the cost of goods and services in Nevada falls below the national average:

  • Reno is 6.3 percent below the national average
  • Las Vegas is 8.3 percent below the national average

However, just because one city has lower overall rates doesn’t mean everything will be cheaper. Getting a haircut in Vegas costs $24. But in Reno, you’ll only pay around $15.80 for that new ‘do. Going out to the movies will take $10.38 out of your pocket in Reno but $12.94 in Vegas.

Often, a big part of monthly goods and services spending goes toward childcare. For your child to attend a month of preschool or kindergarten at a private institution costs $835 in Vegas. The same kind of childcare in Reno is still costly, but slightly less so at $740. So, if you have a family and are looking for affordable childcare, Reno is the more budget-friendly option.

Taxes in Nevada

Nevada’s statewide sales tax is 6.85 percent. For every $1,000 you spend in Nevada, $68.50 will be going straight to taxes. But it’s also important to remember that individual cities and counties may also levy their own additional sales tax on top of the state rate. Both Reno and Nevada tack on additional sales tax. This is a great way for these touristy cities to bring in revenue, but it’s not so great for your wallet.

  • Reno has a combined tax rate of 8.27 percent
  • Las Vegas has a combined tax rate of 8.375 percent

As you can see, the combined sales tax in Reno and Vegas significantly hikes up the statewide rate. It’s not surprising that Vegas has the highest sales tax. $83.75 dollars goes to tax for every $1,000 you spend on those fabulous Vegas experiences. That adds up towards your cost of living in Nevada.

How much do I need to earn to live in Nevada?

Because it’s generally the biggest expense, housing is the cornerstone of most monthly budgets. Experts recommend that you only spend 30 percent of your gross monthly income on housing. That way, you have 70 percent left over for other essentials like utilities, as well as fun expenditures and savings.

Since the average rent in Nevada is $1,663 for a one-bedroom apartment, you’d need to make around $5,543 a month to fit into the 30 percent rule. That comes out to $66,516 per year. Since the median household income in Nevada is only $62,043, housing should fall comfortably within most people’s budgets.

If you need to crunch some numbers for the cost of living in Nevada to see what you can afford to pay in rent, use our handy rent calculator.

Living in Nevada

While some cost of living areas are more expensive than others, for the most part, Nevada is an affordable place to call home. With housing costs on the rise, you can likely find more affordable housing in towns and communities around or near major metro areas. That way, you can stay within budget but still live close to everything that Vegas and Reno have to offer. For both urbanites and nature lovers, Nevada offers a great mix of things to do and its cost of living can fit a variety of budgets and lifestyles.

Related articles

The Cost of Living Index comes from COLI.ORG.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of June 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Source: rent.com

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Want to learn how to get free Apple gift cards? Here are 13 ways.

Want to learn how to get free Apple gift cards?

Who wouldn’t want to receive Apple gift cards for free? After all, you can use an Apple gift card for buying a laptop, iPhone, iPad, Apple Watch, iCloud, and more. In this article, I’ll share several methods to help you earn Apple gift cards all from home.

Many websites allow you to earn free Apple gift cards by completing simple tasks, scanning your grocery receipt, or participating in market research. These platforms don’t only provide Apple gift cards; some also offer other free gift cards like Visa or Amazon.

Now, before you think this isn’t possible. I have personally earned over 100 free gift cards over the years and it’s always nice to use a free gift card to pay for something that I want.

Related content:

How to Earn Free Apple Gift Cards

Today, I will be talking about the different ways you can earn free Apple gift cards. By spending your time on these sites and apps, you can earn rewards and points that can be traded for gift cards.

Here’s a quick list before we begin:

1. Swagbucks

Swagbucks is a popular rewards platform where you can earn points (called Swagbucks or SBs) by completing tasks like taking surveys, watching videos, or playing games. The earned points can be redeemed for various gift cards, including Apple Store gift cards (and even Google Play gift cards).

I have been using Swagbucks for years, and I have earned over 105 gift cards for free so far. It is easy to earn points and the site is very easy to use.

How Swagbucks works:

  1. Click here to sign up for free for Swagbucks (and receive a $10 bonus).
  2. Start collecting points by answering surveys, using their search engine, playing games, using coupons, and more.
  3. After you’ve collected enough points, you can redeem them for Apple gift cards. (as well as many other options).

2. Fetch Rewards

Fetch Rewards is an app that allows you to earn points by scanning receipts from grocery stores. The points earned can be redeemed for Apple gift cards and other rewards.

I use Fetch Rewards every single time I go to the grocery store. It takes less than a minute to use and earn points, so it’s a no-brainer. My routine involves visiting the grocery store and shopping as usual. No need to open the Fetch Rewards app beforehand. After shopping, I check out, and upon getting home, I open the app on my phone and take a photo of my receipt. Fetch Rewards swiftly scans and credits my account with points – a quick and easy process!

Here is how Fetch Rewards works:

  1. Purchase items in your usual manner, whether online or in physical stores.
  2. Capture an image of your receipt using your phone when you’ve finished shopping.
  3. Accumulate points through Fetch Rewards.

You can sign up for Fetch Rewards by clicking here.

3. Honey

Honey is a browser extension that automatically applies coupon codes when you shop online.

Honey is a little secret weapon for online shopping. Imagine shopping like you usually do, and right at checkout, Honey swoops in to find and apply the best coupon codes for you.

Later on, you can turn those points into free Apple gift cards. And guess what? It’s super simple – just two clicks! Oh, and the best part? It won’t cost you a dime – it’s totally free!

You can learn more about Honey here.

4. American Consumer Opinion

American Consumer Opinion is a market research company that rewards users for sharing their opinions through online surveys. Once your earnings reach a certain threshold, you can redeem them for gift cards or cash.

Signing up won’t cost you a thing, and you can earn $1 to $5 (the longer surveys pay more!). They’ve given out a whopping $35 million+ to survey takers, with 20 million surveys posted. And guess what? They’ve got a massive community of 7 million+ members!

Click here to sign up for American Consumer Opinion.

5. Survey Junkie

Survey Junkie is a dedicated survey platform where you can earn points by taking part in daily surveys. These points can be exchanged for Apple gift card codes or other rewards like PayPal money or prepaid Visa debit cards.

Answering three surveys daily on Survey Junkie will earn you around $40 a month.

Companies pay for opinions and online surveys because they are trying to figure out what they can do to improve their products and company. Sometimes, they even use feedback to create whole new products to fill a need. Paid online surveys are extremely helpful for a company, as you can see.

You can sign up for Survey Junkie by clicking here.

6. Branded Surveys

Branded Surveys is another survey platform where you can earn points by answering questions, which can later be redeemed for free gift cards. The surveys typically take 5-15 minutes to complete, and your feedback helps improve a company and/or their product.

They’re all about online surveys that pay you, ranging from $0.50 to $5.00 per survey. And here’s the kicker: joining up is absolutely free, just like I always suggest.

Now, here’s the cool part – Branded Surveys has showered their members with over $39 million in rewards. Impressive, right? And the cherry on top? They’ve got a treasure trove of 100+ free gift card options, such as free Apple gift cards.

You can sign up for Branded Surveys by clicking here.

7. Prize Rebel

Prize Rebel is a platform that offers a wide array of tasks to complete for rewards points. These tasks include surveys, watching videos, and even signing up for offers. Once you accumulate enough points, you can redeem them for Apple gift cards or other rewards.

What makes Prize Rebel shine? It’s a global party! Whether you’re in the U.S. or beyond, they’ve got room for you. No more location troubles! You can use Prize Rebel from almost any country in the world. However, surveys are not available to every country, but there are still other ways to earn points on this website such as by completing offer walls and referring new members.

And the cherry on top? They’ve shared over $29 million in cash and free gift card rewards since 2007. Time to snag those rewards, my friend!

You can sign up for Prize Rebel by clicking here.

8. User Interviews

Listen up, because User Interviews is a standout in this lineup! It’s not your usual online survey spot – it’s a market research game changer. They pay much higher than the average survey site.

User Interviews is a platform that connects researchers with participants to conduct studies. By participating in these studies (usually in the form of interviews), you can earn cash, which can be used to buy Apple gift cards or other items.

You can earn $50 to $100 per hour or even more by sharing your insights on User Interviews on a variety of topics. Average payout? A sweet $65. These discussions happen over the phone or via video calls, with interviewers asking the questions. And guess what? They kickstart 2,000+ studies monthly, and they’ve rewarded over 87,000 folks in just the past year.

Click here to sign up for User Interviews.

9. Upside

Upside is a cash back rewards platform specifically for gas purchases. By using the app to find and purchase gas, you can earn cash back that can be redeemed for gift cards, such as for free iTunes gift cards.

This nifty phone app puts cash in your pocket whenever you hit up specific gas stations listed in their app. Now, not every single gas station will show up in the app, so you do need to do a little more work to get points (such as by going to a different gas station than normal).

Here’s how it works: Open the app to find nearby gas stations. Now, the fun part: you could score up to $0.25 per gallon cash back on gas! And the rewards don’t stop there. You can turn those earnings into cold hard cash in your bank or score awesome free gift cards.

You can sign up for Upside here.

10. InboxDollars

InboxDollars is another well-known platform that pays users for completing surveys, watching videos, reading emails, and even shopping online. You can cash out your earnings in the form of Apple gift cards or other popular options.

Most of their surveys pay around $0.50 to $5.00 and take 3 to 25 minutes to answer. The longer the survey, generally the more money it pays.

By signing up for InboxDollars via this link, you can get a free $5 sign-up bonus.

11. Ibotta App

Ibotta is a cash back app that gives you money when you shop, such as at a grocery store. By using the app and uploading your receipts after you’re done shopping, you can earn cash back on your purchases, which can be redeemed for Apple gift cards. I use Ibotta all the time and it is a great app!

Here’s how Ibotta works:

  • Step one: Get the app.
  • Step two: Browse available offers at the store you are planning to shop at.
  • Step three: Scan your receipt after you’re done shopping.

Ibotta is similar to Fetch Rewards, but there is a little more work involved. To get points on Ibotta, you will have to go to the app before you go to the grocery store and select the deals that you plan on buying. But, you are usually able to earn more points on Ibotta. The great thing about the two is that you can use the same receipts on both apps – so you can earn as many points as possible.

12. MyPoints

MyPoints is another rewards platform similar to Swagbucks, where you can earn points for shopping, playing games, and taking surveys. The points can be redeemed for Apple gift cards, Walmart gift cards, and more.

MyPoints has been featured in The New York Times, ABC News, Yahoo, and more.

They have given out more than $236 million in gift cards and PayPal cash since 1996.

Sign up for MyPoints here.

13. Referral Programs

By participating in various referral programs, usually by referring friends to a specific site or product, you can earn rewards points or cash that can be exchanged for Apple gift cards.

If you’re a fan of a website, service, or product, it’s worth checking if they have a referral program. You might score some awesome rewards while spreading the love!

How to Redeem Apple Gift Card Codes

So, you’ve redeemed your points and received an Apple gift card code. What’s next?

Apple Gift Cards can be used at the Apple Store, the Apple Store app, Apple.com, the App Store, iTunes, Apple Music, Apple TV, and Apple Books. So, you have a lot of options as you can see!

If it’s a physical gift card that you were given, then you will need to find the 16-digit code on the back of your Apple gift card or iTunes gift card. If your code is via email, you will have to simply just grab the code from the email that you receive. This code is important for redeeming the value of your gift card. Then, you will go to the App Store or the Apple website to redeem your gift card.

Also, quick note: you don’t need to have a current Apple account to use a free gift card. You can use your free gift card in-person at an Apple store (such as one at a mall near you).

But, if you want to redeem your free Apple gift card code via the online App Store, you will simply use your Apple device, such as a Mac, iPad, or iPhone and follow these instructions:

How to redeem a free Apple e-gift card on a Mac:

  1. Open the App Store on your computer.
  2. Click your name or the sign-in button.
  3. Click Redeem Gift Card and follow the instructions.
  4. If you have trouble redeeming the card with the camera, you can also enter your gift card code manually.

How to redeem a free Apple e-gift card on an iPad or iPhone:

  1. Open the App Store on your device.
  2. Click on your profile picture.
  3. Scroll down to Redeem Gift Card or Code and follow the instructions.

After you successfully redeem your gift card, the balance will automatically be added to your Apple ID account. You can now use this credit to purchase Apple products like Macs, iPads, AirPods, and accessories. This area will also show you your Apple account balance so that you know how much you have left.

Frequently Asked Questions About Free Apple Gift Cards

Here are answers to common questions about how to get an Apple gift card for free.

How can I get a free Apple gift card?

You can get a free Apple gift card by signing up on the websites above. These websites will pay you to complete a variety of tasks like answering paid surveys, watching videos and movies, or shopping online through their site. In return, they give you points that can be redeemed for Apple gift cards.

How can I get a $15 iTunes gift card code for free?

To get a $15 iTunes gift card for free, you can participate in tasks or activities on the many different sites above. These websites above give you rewards for shopping online, answering surveys, scanning your grocery receipts, and more. By earning points, you can redeem free Apple card codes for the amount you want, such as $15. Most websites will have a minimum that you can redeem as well.

What are some ways to earn free Apple gift cards online?

Some ways to earn free Apple gift cards online include participating in surveys, watching videos, shopping, or using cashback websites. Sites like Swagbucks, MyPoints, InboxDollars, and Rakuten can help you get free gift cards by earning points which you can redeem for Apple gift cards later.

Are there any apps that help in getting free iTunes gift card codes?

Yes, several apps help you to get free iTunes gift card codes. Swagbucks and Fetch Rewards are examples of apps that reward you with points for completing all different kinds of tasks. You can redeem your points for free iTunes gift card codes.

Where can I find free Apple gift card codes without taking surveys?

Okay, I get it – there are a lot of survey companies on this list! Finding free Apple gift card codes without signing up for a survey site can be a bit challenging, as most websites offering gift cards usually require participation in surveys, focus groups, or product testing. However, you can try using an app like Fetch Rewards, which gives you points for scanning your grocery receipts.

Do giveaways or contests offer a chance to win Apple gift cards?

Yes, you can win free Apple gift cards by entering giveaways and contests. These types of giveaways can be found on social media or websites, and participation often involves simple things that you need to do like following an account, sharing posts, or leaving a comment. You can start by simply searching #giveaway on social media. There are also giveaway websites that you can search for on Google that lists giveaways from around the web.

Are there any websites with free iTunes gift card email delivery?

When you earn a free iTunes gift card through many of the websites above, they typically give you the gift card code via email. Once you have enough points to redeem a gift card, the website will send you the gift card code through email, which you can use to add credit to your Apple account. Using your e-gift cards is very easy and quick! I have done it over 100 times.

How To Get Free Apple Gift Cards – Summary

I hope you enjoyed this article on how to get Apple gift cards for free. As you can see, there are many great options! Many of the sites above will give you several different gift card options other than Apple as well, such as free Visa gift cards, Amazon gift cards, and more.

Here’s a list of the different ways you can earn free Apple gift card codes:

Have you ever earned free Apple gift cards? Did you know that this was possible?

Source: makingsenseofcents.com

Apache is functioning normally

Join us on a journey through the small towns of Alaska, where wilderness meets community and adventures abound. From scenic landscapes to unique attractions, each town has its own story to tell. As we explore the charm of 12 small towns in Alaska, you’ll discover the heart and soul of Alaska’s small-town life.

1. Willow, AK

Median sale price: $332,500 

Walk Score: 5

Nestled against the backdrop of majestic mountains, Willow welcomes you with its tranquil beauty and outdoor adventures. This town is known for its connection to the world-famous Iditarod Trail Sled Dog Race, where you can experience the excitement of this iconic Alaskan event. Discover the nearby Nancy Lake State Recreation Area, offering opportunities for fishing, hiking, and camping. 

Homes for sale in Willow, AK

Apartments for rent in Willow, AK

2. Houston, AK

Median sale price: $215,500 

Walk Score: 1

Houston, a peaceful town surrounded by Alaskan wilderness, invites you to embrace its serene atmosphere and close-knit community. The town has many outdoor opportunities, offering access to hiking trails, fishing spots, and nature reserves. Houston hosts an annual Moose Pass Summer Solstice Festival, celebrating the state’s iconic wildlife. 

Homes for sale in Houston, AK

Apartments for rent in Houston, AK

3. Tok, AK

Median sale price: $100,000 

Walk Score: 23

At the crossroads of Alaska’s highways, you’ll find the small town of Tok. Tok is full of quirky attractions like the Mukluk Land theme park, where you can tour unique Alaskan oddities. Residents often endure extreme weather conditions, with temperatures plummeting to -40°F in winter, requiring careful preparation and resilience.

Homes for sale in Tok, AK

Apartments for rent in Tok, AK

4. Salamatof, AK

Median sale price: $397,500 

Walk Score: 6

Salamatof is a small hidden gem of Alaska. The town’s proximity to the Kenai River offers premier fishing opportunities, attracting anglers from around the world. Salamatof’s rich Native Alaskan heritage is celebrated at events like the Kenaitze Indian Tribe Powwow. With its picturesque landscapes and cultural connections, Salamatof provides a glimpse into Alaska’s extraordinary past.

Homes for sale in Salamatof, AK

Apartments for rent in Salamatof, AK

5. Farmers Loop, AK

Median sale price: $257,500 

Walk Score: 4

With numerous farms and gardens, Farmers Loop has opportunities for equestrian activities and trail riding. Navigate the Creamer’s Field Migratory Waterfowl Refuge, where you can observe migratory birds and enjoy peaceful walks. Or attend one of the many local events, fostering a sense of community and connection among residents. 

Homes for sale in Farmers Loop, AK

Apartments for rent in Farmers Loop, AK

6. Butte, AK

Median sale price: $1,195,000 

Walk Score: 18

In the Matanuska Valley, Butte is a blend of scenic beauty and agricultural heritage. Wander around the nearby Bodenburg Butte Trail, which leads to panoramic views of the surrounding landscape. Butte’s connection to farming is celebrated at local markets and festivals, showcasing the region’s bounty. 

Homes for sale in Butte, AK

Apartments for rent in Butte, AK

7. Seward, AK

Median sale price: $366,000 

Walk Score: 42

A coastal gem on the shores of Resurrection Bay is the small town of Seward. The town is close to Kenai Fjords National Park, where you can witness glaciers calving into the ocean and spot marine wildlife. Seward’s bustling waterfront boasts galleries, shops, and seafood eateries. Experience the excitement of the annual Seward Silver Salmon Derby or embark on a scenic boat tour to enjoy the bay’s hidden treasures. 

Homes for sale in Seward, AK

Apartments for rent in Seward, AK

8. Big Lake, AK

Median sale price: $228,000 

Walk Score: 24

Big Lake, a picturesque retreat surrounded by water and wilderness, welcomes you to experience its serene beauty and recreational opportunities. The community thrives on fishing, boating, and lakeside relaxation. Journey through the Matanuska-Susitna Valley’s vast landscapes with hiking, birdwatching, and wildlife spotting. 

Homes for sale in Big Lake, AK

Apartments for rent in Big Lake, AK

9. Fritz Creek, AK

Median sale price: $150,000 

Walk Score: 7

Located on the Kenai Peninsula, Fritz Creek invites you to savor its rural charm and artistic spirit. The town’s creative community is reflected in its art galleries, studios, and workshops. Head to the Homer Spit for the picturesque views, fishing charters, and local seafood offerings. 

Homes for sale in Fritz Creek, AK

Apartments for rent in Fritz Creek, AK

10. Anchor Point, AK

Median sale price: $247,500 

Walk Score: 24

Anchor Point is the westernmost point of the North American highway system. The stunning beachscape provides opportunities for beachcombing, fishing, and enjoying panoramic views of the ocean. Explore the Anchor River State Recreation Area, offering fishing and camping along the riverbanks. Anchor Point hosts events, celebrating its close-knit community and connection to the sea. 

Homes for sale in Anchor Point, AK

Apartments for rent in Anchor Point, AK

11. Lazy Mountain, AK

Median sale price: $787,100 

Walk Score: 3

In the Matanuska-Susitna Valley, you’ll find Lazy Mountain, known for its iconic mountain views. Embrace the peace and beauty of the natural surroundings, whether you’re exploring trails or admiring the Northern Lights. With its breathtaking landscapes and serene atmosphere, Lazy Mountain offers a true escape into Alaska’s wilderness.

Homes for sale in Lazy Mountain, AK

Apartments for rent in Lazy Mountain, AK

12. Healy, AK

Median sale price: $250,000 

Walk Score: 7

Healy is a gateway to Denali National Park, inviting you to experience its natural beauty and sense of adventure. This small town is close to North America’s tallest peak, Denali, offering opportunities for hiking, wildlife spotting, and exploring the park’s wilderness. Whether you’re marveling at the grandeur of Denali or partaking in outdoor activities, Healy captures the essence of Alaska’s rugged spirit.

Homes for sale in Healy, AK

Apartments for rent in Healy, AK

Wrapping up small towns in Alaska

The small towns of Alaska encapsulate the essence of a unique and rewarding lifestyle. Far from the urban hustle, these communities provide a haven of natural wonder and authentic human connections. Whether relishing outdoor pursuits, embracing artistic endeavors, or savoring the coastal ambiance, Alaska’s small towns hold the promise of unforgettable experiences, making them true gems within the Last Frontier’s majestic expanse.

Source: redfin.com

Apache is functioning normally

Michael Barr, vice chair for supervision at the Federal Reserve, from left, Martin Gruenberg, chairman of the Federal Deposit Insurance Corp. and Nellie Liang, under secretary for domestic finance at Treasury, during a House Financial Services Committee hearing in March. The American Bankers Association and Bank Policy Institute called on bank regulators to delay finalizing their Community Reinvestment Act rules until the upcoming capital rules are complete and the Supreme Court rules on the constitutionality of the Consumer Financial Protection Bureau’s funding structure.

Bloomberg News

WASHINGTON — The Bank Policy Institute and the American Bankers Association penned a joint letter Tuesday urging federal bank regulators to delay finalizing the most sweeping revisions to the Community Reinvestment Act — an anti-redlining bill — in decades.

The letter, sent by BPI and ABA to the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency suggested regulators should delay any final CRA rule until the agencies’ joint Basel III capital rules are finalized. They posited regulators had not considered how the new capital requirements lower the incentive for banks to engage in CRA activities like low down payment mortgages to low-income families.

“The proposed capital rules would reduce incentives to engage in mortgage lending, which is central to the CRA programs of many banks,” they said. “Many banks offer low down payment mortgages as a means of meeting the credit needs of low- and moderate-income families.”

In addition to asking regulators to pause the CRA rule to accommodate the likely reduction in mortgage lending, the letter also said that a constitutional challenge to the Consumer Financial Protection Bureau’s funding structure should give regulators pause as they move ahead with a final rule. The banking industry has previously expressed opposition to the CRA revamp on the grounds it oversteps congressional authority.

A Texas district court judge last month temporarily barred the CFPB from enforcing its 1071 rule until after the Supreme Court rules on the constitutionality of the CFPB’s funding structure sometime next year.

“The banking agencies should delay finalization of the CRA rules until a final determination is made regarding the status of the rules promulgated under Section 1071, which will affect how the agencies administer certain aspects of the CRA rules,” the banking groups said. 

While the necessity for a CRA update is widely acknowledged, the banking industry has expressed louder opposition as new Basel III endgame requirements and post-banking crisis reforms coincide with the new CRA standards.

In a comment letter in August, 2022 the Bank Policy Institute said the agencies’ joint proposed rule exceeded statutory mandate, added needless complexity and broad application and was overly punitive in its application toward banks. Another major trade group, the American Bankers Association, made similar claims in an August comment letter, saying the proposal missed the mark. ABA said they were concerned that significant numbers of banks would need to invest more in their retail lending departments to pass retail lending examinations under the new rule.

The Community Reinvestment Act was passed in 1977 to bar banks from accepting deposits from lower-income communities without making commensurate levels of loans to those communities — a problem for many communities of color in the first years since explicit racial discrimination in lending was outlawed. The law requires banks to make loans to low- and moderate- income borrowers in the institution’s “assessment area,” defined as areas where the bank has its headquarters, branches or deposit-taking ATMs.

Banks are assessed for compliance at least every five years by their primary regulator. Banks are graded in three areas: lending, investment and service, weighted as 50%, 25% and 25% of the examination respectively. Banks are then assigned a rating of “outstanding,” “satisfactory,” “needs to improve” or “noncompliant” based on their performance.

If a bank is deemed to have less than a “satisfactory” rating, then it may not merge with or acquire another banking institution or modify its charter until it achieves compliance. But critics have argued that most banks receive either an outstanding or satisfactory rating, meaning that virtually no banks face the regulatory burdens that the CRA can impose.

Former Comptroller of the Currency Joseph Otting sought to reform the implementation of the CRA during the Trump administration, but community advocates argued that his reforms were too favorable to banks and would yield little additional investment in the communities that need it the most. Bank regulators issued their revised proposal last year. 
— John Heltman contributed to this report

Source: nationalmortgagenews.com