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“A national secondary market for construction financing could allow lenders, like state housing finance agencies and banks, to provide the investment capital needed to get multifamily housing projects built and keys in families’ hands.”

This is the conclusion of a new report published by the Center for Public Enterprise, a nonprofit organization that promotes the expansion of public sector projects.

Such lenders, the report states, could underwrite mezzanine construction loans under the assumption that a national housing construction fund would have the ability to buy these loans on the secondary market. This could make the overall cost to entry — which is already low — more digestible.

“The size of the investments needed to get typical multifamily housing projects moving is small: mezzanine loans covering less than 20% of project costs could bring average costs of capital down significantly, allowing shovels to get into the ground,” the report reads.

Due to the well-documented issues facing housing supply across the U.S., and coupled with high home prices and persistently high interest rates, multifamily housing starts have slowed despite low vacancy rates nationwide. But when demand comes back, new housing that “should have been built has not been, starting another price cycle,” the report explained.

Establishing a national housing construction fund has the potential to reduce burdens on builders and lenders caused by higher rates. It could also potentially create “an economic environment where housing production achieves a degree of insulation from the business cycle factors that are not indicative of housing demand,” the report said. This could lead to a situation where housing production becomes “smoother and more stable across time.”

Since policy proposals tailored to the needs of housing construction haven’t materialized to any meaningful degree, stakeholders are reliant on monetary policy — a “broadsword, not a scalpel” when it comes to the interests of the housing industry. Price pressures are addressed primarily by making it more difficult to conduct business operations as opposed to addressing the root issues specific to a particular industry.

“If monetary policy is successful in reducing demand — often by inducing a recession — then eventually, interest rates normalize and, theoretically, demand comes back,” the report states. “And herein lies the problem: housing stock, particularly multifamily housing, takes time to build — far more time than it takes to produce most other goods and services Americans use on a daily basis.

“When the economy comes back, the new units which should have been available for a resurgent consumer market are not available because construction did not occur during the trough of the cycle.”

These actions also serve to teach builders that should there be a monetary policy instrument used to impact the economy, it will also likely be bad for them, leading to a pullback in construction activity in preparation for a policy change. This necessitates federal tools that can help to more precisely alleviate these burdens on housing construction, the report suggests.

“National housing researchers, including Freddie Mac, estimate that the housing supply shortfall across the country is between 1 million and 5 million homes. There are many policy levers that must be pulled to get there,” the report reads.

“A financing lever with the ability to partially insulate housing investment from the volatility of the business cycle has been, until now, a missing piece among the array of tools and interventions. We hope that a housing construction fund, as outlined here, can fill that gap.”

Source: housingwire.com

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Considering moving to Tennessee? This state is full of picturesque landscapes, dynamic urban areas, and a growing tech industry, making it a prime choice for relocation. With its iconic cities, scenic mountain views, and a rich cultural scene, Tennessee offers a diverse living experience. Whether you’re looking at houses for sale in Knoxville, renting in Chattanooga, or exploring houses for rent in Nashville, here’s what you should know about moving to Tennessee.

Tennessee at a glance

The state’s landscapes range from the majestic peaks of the Smoky Mountains to the serene rolling hills of the Cumberland Plateau, providing a variety of outdoor activities. Large cities like Memphis and Nashville are cultural hubs, renowned for their lively music scenes, history, and entertainment options. Major sectors driving Tennessee’s economy include energy, technology, and healthcare, with prominent companies such as FedEx and HCA Healthcare headquartered here.

Culturally, Tennessee is rich with world-class museums like the Country Music Hall of Fame and the National Civil Rights Museum, alongside notable music festivals such as Bonnaroo and Memphis in May. The state’s culinary scene is equally diverse, featuring everything from Memphis barbecue to Nashville hot chicken. Educational opportunities are robust with institutions like the University of Tennessee and Vanderbilt University adding to the state’s atmosphere. For those seeking affordable places to live, cities like Clarksville and Johnson City offer lower living costs while maintaining a high quality of life.

1. Tennessee has a significant musical heritage

Tennessee’s musical heritage is renowned worldwide, with Nashville earning the nickname “Music City” for its pivotal role in country music. The Grand Ole Opry, the Ryman Auditorium, and the Country Music Hall of Fame attract music lovers from across the globe. Memphis also has a rich musical history, being the birthplace of rock ‘n’ roll at Sun Studio and home to the legendary Beale Street, where blues musicians like B.B. King and Elvis Presley once performed. Additionally, cities like Bristol, recognized as the birthplace of country music, and Dollywood in Pigeon Forge celebrate the state’s deep musical roots through festivals and performances that honor Tennessee’s enduring influence on American music.

2. The state has a low cost of living

Tennessee’s lower cost of living is a major draw, with the median home sale price of $400,900 and average rental prices for a one-bedroom apartment in cities like Memphis hovering around $978 per month. While Nashville and Knoxville offer more urban amenities, cities like Chattanooga and Clarksville provide more affordable housing options without sacrificing quality of life. In fact, the cost of living in Chattanooga is 9% lower than the cost of living in Nashville. Beyond housing, Tennessee residents benefit from lower costs in utilities, groceries, and healthcare compared to the national average. This overall affordability makes Tennessee an attractive choice for those looking to maximize their budget without compromising on lifestyle.

3. Hot chicken is a local delicacy

Nashville hot chicken is a fiery local delicacy that has gained nationwide fame. This spicy fried chicken, typically served with pickles and bread, originated at Prince’s Hot Chicken Shack in Nashville. Today, you can savor this culinary treat at numerous local eateries, including Hattie B’s and Bolton’s Spicy Chicken & Fish, each offering their own unique twist on the dish.

Insider scoop: For a truly local experience, visit during the Nashville Hot Chicken Festival held every Fourth of July, where you can sample the best hot chicken from various vendors and enjoy live music and various activities.

4. There’s no state income tax

One of the financial perks of moving to Tennessee is the absence of state income tax, allowing residents to keep more of their earnings. This policy makes Tennessee particularly attractive to individuals seeking lower overall tax burdens. The savings on state income tax can be significant, especially compared to neighboring states with higher tax rates. For budget-friendly individuals, this means more disposable income for everyday expenses, savings, or investments, enhancing their overall financial well-being. Considering the pros and cons of living in Tennessee, this tax advantage is a notable benefit that can positively impact your financial planning.

5. The state is known for its Tennessee whiskey 

Tennessee is renowned for its Tennessee whiskey, a distinct style of whiskey that follows a specific production process unique to the state. This includes the Lincoln County Process, where the whiskey is filtered through charcoal before aging, giving it a smooth, mellow flavor. The most famous brand is Jack Daniel’s, whose distillery in Lynchburg is one of the oldest registered distilleries in the United States. This iconic site offers guided tours where visitors can learn about the whiskey-making process and the history of Jack Daniel’s, ending with a tasting of their renowned products.

Travel tip: Plan your visit to the distillery during the annual Jack Daniel’s World Championship Invitational Barbecue in October, a festival that combines delicious barbecue, live music, and, of course, plenty of Tennessee whiskey.

6. The internet is fast in Chattanooga

Tennessee has some of the fastest internet speeds in the country, thanks to initiatives like Chattanooga’s EPB Fiber Optics network. This gigabit-speed internet service has positioned Chattanooga as a tech-friendly city, attracting startups and tech companies. Whether you’re working from home or streaming your favorite shows, you’ll appreciate the robust and reliable internet connectivity.

7. Smoky Mountains National Park is the most visited national park in the U.S.

The Great Smoky Mountains National Park, straddling the border between Tennessee and North Carolina, is the most visited national park in the U.S., attracting millions of visitors each year. This expansive park features over 800 miles of hiking trails, including the challenging Alum Cave Trail and the scenic Clingmans Dome, the highest peak in the park. Visitors can explore diverse ecosystems, from lush hardwood forests to rolling mountain meadows, and observe a wide range of wildlife such as black bears, elk, and deer. The park also boasts historic sites like Cades Cove, where preserved log cabins and barns offer a glimpse into early Appalachian life.

Travel tip: For a less crowded experience, visit during the shoulder seasons of spring and fall, when the park’s natural beauty is at its peak and parking is more accessible, allowing for a more serene exploration of the trails and overlooks.

8. There’s a theme park dedicated to Dolly Parton here

Dollywood, located in Pigeon Forge, is a popular theme park founded by country music legend Dolly Parton. The park offers a mix of thrilling rides, live entertainment, and traditional crafts, all set against the backdrop of the Smoky Mountains. Dollywood also hosts seasonal festivals and events, making it a year-round destination for fun. 

Insider scoop: To make the most of your visit, arrive early and head straight to the most popular attractions like the Lightning Rod roller coaster and the Wild Eagle flight ride before the lines get long.

9. The BBQ in Tennessee is distinctive

Moving to Tennessee, you’ll become familiar to its distinctive barbecue, with Memphis standing out as a premier destination for this culinary tradition. Memphis-style BBQ is characterized by its dry-rubbed ribs, which are seasoned with a blend of spices before being slow-cooked to perfection, and pulled pork, which is often served with a tangy, tomato-based sauce known for its unique sweet and spicy flavor. Notable BBQ joints include Charlie Vergos’ Rendezvous, known for its iconic dry-rubbed ribs and secret seasoning blend; and Interstate Bar-B-Q, which offers a variety of smoked meats.

10. The state is filled with Civil Rights history

Tennessee is deeply embedded in Civil Rights history, with several key locations marking pivotal moments in the struggle for racial equality. In Memphis, the National Civil Rights Museum is housed in the Lorraine Motel, where Dr. Martin Luther King Jr. was assassinated in 1968, offering comprehensive exhibits. In Nashville, the historic Fisk University is renowned for its role in early civil rights activism, and the city was a center of the 1960s sit-in movement. These sites, among others, provide insight into the state’s significant tie with the movement.

11. You’ll need to prepare for the tornados

Tennessee’s location in the southeastern United States means it is susceptible to tornadoes, especially during the spring and fall seasons. The state’s flat terrain and warm, moist air make it a frequent target for tornado activity. It’s crucial for residents to have emergency plans, including knowing local shelter locations and having a weather radio for alerts. Many homes are equipped with storm shelters or safe rooms to offer protection during severe weather events. Communities often have tornado sirens and conduct regular drills to prepare residents for potential emergencies.

Methodology

Population data sourced from the United States Census Bureau, while median home sale prices, average monthly rent, and data on affordable and largest cities are sourced from Redfin.

Source: rent.com

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Thinking about calling the Ocean State home? Rhode Island boasts beautiful coastal landscapes, lively urban areas, and a growing tech industry, making it a popular choice for newcomers. Whether you’re searching for homes for sale in Providence, looking to rent in Newport, or considering houses for rent in Warwick, here’s what you need to know before moving to Rhode Island.

Rhode Island at a glance

Rhode Island, known as the Ocean State, provides coastal beauty, lively culture, and economic diversity. Its humid continental climate brings warm summers and cold winters, perfect for enjoying its 400 miles of coastline. Providence, the capital, anchors the state’s largest cities, alongside Warwick and Cranston, each offering a mix of urban amenities and residential charm. Major industries include healthcare, education, manufacturing (especially jewelry), and a growing tech sector. Renowned educational institutions like Brown University and the Rhode Island School of Design contribute to a rich cultural landscape, highlighted by festivals, museums like the RISD Museum, and events like WaterFire. Affordable places to live are particularly found in smaller towns and coastal communities, making Rhode Island an appealing choice for those seeking a balanced lifestyle of culture, education, and coastal living.

1. Rhode Island is well-known for its WaterFire event

Rhode Island is renowned for its spectacular WaterFire event, an experience that transforms Providence’s rivers into a glowing spectacle. Held from late spring through autumn, WaterFire features over 80 braziers set alight along the rivers, accompanied by music. Performers, including fire twirlers, musicians, and dancers, enhance the atmosphere, creating a multi-sensory experience for attendees. You can walk along the riverbanks, enjoy the scents of wood smoke and seasonal blooms, and explore art installations and local vendor stalls that appear during the event.

Travel tip: Arrive early to secure a good viewing spot, and consider bringing a blanket or portable chair for comfort. For an even more memorable experience, book a gondola ride to enjoy the illuminated rivers from the water and gain a unique perspective of the event.

2. It’s expensive to live here

Living in Rhode Island comes with a high cost of living, particularly in sought-after areas like Providence and Newport. The median home sale price in Rhode Island is around $522,100, with rental averages for a one-bedroom apartment in Providence hovering around $2,075 per month. Groceries, utilities, and general expenses also surpass the national average, making day-to-day living more expensive. In fact, the cost of living in Providence is 12% higher than the national average. Comparatively, cities like Coventry and Cranston offer more affordable options, though they still reflect the overall higher cost of the state. 

When considering a move, it’s essential to weigh the pros and cons of living in Rhode Island. The state offers stunning coastal landscapes, making it an attractive place to live. However, the high cost of living and elevated property taxes can be significant drawbacks.

3. Rhode Island has many seafood specialities

You’ll find a rich seafood heritage in Rhode Island, with many local specialties that seafood lovers will enjoy. Clam cakes and clam chowder are regional favorites, with the creamy, flavorful chowder often distinguished by its unique, clear broth. Another local delicacy is the stuffed quahog, a savory clam-filled dish that’s a staple at many seafood restaurants.

Insider scoop: For an authentic taste of Rhode Island, visit the iconic Monahan’s Clam Shack in Narragansett for some of the best clam cakes and chowder in the state.

4. Get ready to hear many different accents

In Rhode Island, you’ll encounter a fascinating array of accents that reflect the state’s diverse cultural and historical influences. In Providence, the accent tends to blend elements of Boston and New York speech patterns, featuring distinctive pronunciations and local slang. Venture to the coastal towns, and you might notice a more laid-back, maritime lilt in the speech, influenced by the state’s rich seafaring history. In contrast, the southern regions, such as Newport, exhibit a more neutral accent with subtle regional variations. 

5. Rhode Island is less than 40 minutes wide

As the smallest state in the nation, Rhode Island spans less than 40 minutes from east to west, making it remarkably compact. Living in Rhode Island means enjoying a tiny yet vibrant state that packs a lot into its limited space, from the scenic coastal beauty of its beaches to the historic charm of its colonial-era towns. You can easily explore a range of experiences in a single day, whether it’s strolling through Providence’s bustling downtown, relaxing on the shores of Newport, or enjoying the quaint atmosphere of Wickford.

6. There are many quaint towns to explore 

Rhode Island is dotted with charming, small towns that each offer their own unique appeal. Places like Newport, with its historic mansions and stunning coastal views, and Bristol, known for its well-preserved colonial architecture and Main Street, provide a quintessential New England experience. Additionally, towns like Narragansett and Wickford provide beautiful waterfronts and a relaxed, small-town atmosphere.

7. The property taxes are among the highest in the nation

Property taxes in Rhode Island are among the highest in the nation, a significant consideration for anyone planning to become a homeowner. With an effective property tax rate of about 1.30%, Rhode Island ranks in the top tier for tax burden on homeowners. For renters thinking of becoming homebuyers, it’s crucial to factor in these additional costs when budgeting for a home purchase.

8. The state’s infrastructure faces challenges

Rhode Island’s infrastructure faces significant challenges, a factor that should be carefully considered by anyone planning to move to the state. Issues such as aging roadways, frequent traffic congestion, and outdated public transportation systems can pose daily inconveniences for residents. The state’s road conditions are often cited as some of the worst in the country, with potholes and ongoing construction projects causing delays and damage to vehicles. 

9. Independence day is a big deal

Independence Day is a major event in Rhode Island, celebrated with unparalleled enthusiasm and community spirit. The town of Bristol is especially renowned for its Fourth of July festivities, hosting the oldest continuous Independence Day celebration in the United States, dating back to 1785. The celebration includes a spectacular parade, fireworks, concerts, and various activities, drawing visitors from across the state to celebrate.

Methodology

Population data sourced from the United States Census Bureau, while median home sale prices, average monthly rent, and data on affordable and largest cities are sourced from Redfin.

Source: rent.com

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Knoxville, nestled in the heart of East Tennessee, is known for its rich history, vibrant arts scene, and close proximity to the Great Smoky Mountains. With its blend of Southern charm and modern amenities, Knoxville attracts people from all walks of life. However, living in this dynamic city comes with its own set of advantages and challenges. Whether you’re considering a historic apartment in Old North Knoxville or a modern apartment downtown Knoxville, this Redfin article will help you weigh the pros and cons of living in Knoxville.

Fast facts about living in Knoxville

  • Population: Approximately 190,000 residents
  • Average rent: $1,320 per month for a one-bedroom apartment
  • Median home sale price: $334,800
  • Public transit: Knoxville Area Transit (KAT) provides bus services throughout the city
  • Public parks: Over 100 parks and green spaces for recreation and relaxation
  • Annual tourists: Approximately 13 million visitors each year
  • Restaurants: Over 700, offering a variety of cuisines from around the world

1. Pro: Proximity to nature

Knoxville’s location near the Great Smoky Mountains National Park provides residents with easy access to outdoor activities like hiking, camping, and fishing. The city’s numerous parks and greenways, such as Ijams Nature Center and the Knoxville Urban Wilderness, offer plenty of opportunities for recreation and relaxation. This close connection to nature makes Knoxville a haven for outdoor enthusiasts.

Popular outdoor spots in Knoxville

  • House Mountain State Natural Area
  • Concord Park
  • Mead’s Quarry Lake
  • Seven Islands State Birding Park
  • Victor Ashe Park

2. Con: Limited public transportation

While Knoxville Area Transit (KAT) provides essential bus services, the public transportation system in Knoxville is limited compared to larger cities. The city has a transit score of 27, a walk score of 31, and a bike score of 30. This means that most daily errands require a car, which can be inconvenient for those who prefer not to drive or do not own a vehicle. The spread-out nature of the city and limited service hours can make commuting challenging without a car.

3. Pro: Affordable cost of living

Knoxville is known for its affordable cost of living, which is about 24% lower than the national average. Housing, in particular, is reasonably priced, with the median sale price for a home in Knoxville around $334,800 and the average rent for a one-bedroom apartment in Knoxville about $1,320 per month. Utilities are 9% less, transportation costs are 11% less, and healthcare expenses are 12% less than the national average. This lower cost of living in Knoxville makes it an attractive option for individuals looking to stretch their budgets further.

4. Con: Weather variability

Knoxville experiences a range of weather conditions, from hot and humid summers to cold winters with occasional snowfall. The city’s weather can be unpredictable, with sudden changes in temperature and frequent rain during the spring and fall. This variability can be challenging for residents to adjust to and requires preparation for different weather scenarios throughout the year.

5. Pro: Strong educational institutions

Knoxville is home to several respected educational institutions, including the University of Tennessee (UT), which is a major research university with a wide range of programs. The presence of UT contributes to a vibrant academic atmosphere and provides numerous cultural and sporting events. Additionally, there are various public and private schools offering quality education for locals.

6. Con: Limited job market diversity

While Knoxville has a growing economy, the job market is somewhat limited in diversity compared to larger metropolitan areas. The city’s economy is heavily influenced by the University of Tennessee and industries such as manufacturing, healthcare, and retail. While these sectors provide job opportunities, those seeking employment in more specialized fields may find fewer options available.

7. Pro: Vibrant arts and culture scene

Knoxville boasts a vibrant arts and culture scene, with numerous galleries, theaters, and music venues. The city is home to the Knoxville Museum of Art, the historic Tennessee Theatre, and the Bijou Theatre, which host a variety of performances and exhibitions. Knoxville also has a thriving music scene, with live performances ranging from bluegrass and country to rock and jazz. This cultural richness provides residents with plenty of opportunities for entertainment and artistic engagement.

8. Con: High humidity

Knoxville’s climate, while generally pleasant, comes with high humidity levels, especially during the summer months. The humidity can be uncomfortable and make outdoor activities less enjoyable. High humidity can also affect indoor comfort and increase the reliance on air conditioning, leading to higher utility costs. Residents need to be prepared for the humid conditions and take measures to stay cool and hydrated.

9. Pro: Community-friendly environment

Knoxville is known for its strong sense of community and Southern hospitality. The city hosts numerous events and festivals throughout the year, such as the Dogwood Arts Festival and the Big Ears Festival, which bring residents together and foster a sense of camaraderie. Knoxville’s neighborhoods, such as Sequoyah Hills, Bearden, and Fountain City, offer a variety of living environments with active community associations and local initiatives that enhance the quality of life.

10. Con: Limited nightlife

While Knoxville offers a variety of dining and entertainment options, its nightlife scene is not as vibrant as larger cities. The city has a more laid-back atmosphere, with fewer late-night venues and entertainment options. Residents seeking a bustling nightlife might find the options limited, though there are still plenty of local bars, breweries, and restaurants to enjoy. For those who crave more excitement, larger cities like Nashville and Atlanta are within driving distance.

11. Pro: Historic charm

Knoxville’s rich history is reflected in its architecture and historic districts. The city is home to several well-preserved historic neighborhoods, such as Old North Knoxville and Fourth & Gill, which feature beautiful homes and tree-lined streets. Downtown Knoxville also boasts historic buildings and landmarks, including the Market Square and the Sunsphere, adding to the city’s unique character and charm.

13. Pro: Growing job market

Knoxville has a growing job market, with opportunities in various sectors such as education, healthcare, and manufacturing. The University of Tennessee, Knoxville, is a major employer, along with Oak Ridge National Laboratory and several healthcare providers. The city’s economy is expanding, attracting new businesses and industries, which enhances job prospects and economic stability.

Top employers in Knoxville

  • University of Tennessee, Knoxville
  • Oak Ridge National Laboratory
  • Tennessee Valley Authority (TVA)
  • Pilot Flying J
  • Covenant Health

14. Pro: Iconic landmarks

Living in Knoxville means having iconic landmarks and attractions at your doorstep. From the historic Market Square to the picturesque Sunsphere, these sites contribute to the city’s unique character and charm.

Popular landmarks in Knoxville

  • Ijams Nature Center
  • Knoxville Zoo
  • World’s Fair Park
  • Tennessee Theatre
  • James White Fort

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Thinking of making Louisiana your new home? The Pelican State provides beautiful natural landscapes like the bayous and swamps and vibrant communities with a strong sense of tradition. Whether you’re browsing homes for sale in New Orleans, considering renting in Baton Rouge, or exploring houses for rent in Lafayette, you’ll find a state brimming with Cajun and Creole cuisine, lively music scenes, and festive celebrations like Mardi Gras.

Louisiana at a glance

From the enchanting swamps and bayous to the scenic beauty of the Mississippi River and the Gulf Coast, Louisiana caters to every adventurer. The largest cities in Louisiana, New Orleans, Baton Rouge, and Shreveport, are full of cultural activities and economic opportunities. Louisiana’s economy thrives on sectors such as energy, petrochemicals, agriculture, and tourism, with major companies like Entergy, CenturyLink, and ExxonMobil having significant operations here.

The state’s cultural scene is rich, featuring world-class museums, renowned music festivals like the New Orleans Jazz & Heritage Festival, and a diverse culinary heritage with Creole and Cajun cuisine. Educational excellence is anchored by institutions like Louisiana State University and Tulane University. Affordable places to live can be found in cities such as Lafayette and Monroe, making Louisiana an enticing choice for those on a budget. Whether you’re exploring the Atchafalaya Basin, hiking in Kisatchie National Forest, or experiencing the lively culture, Louisiana offers an exciting lifestyle.

1. Mardi Gras is just as iconic as you think

Mardi Gras in Louisiana is a vibrant celebration that transforms the streets into a festive wonderland. New Orleans leads the charge with its iconic parades, elaborate floats, and lively music, drawing millions of visitors each year. Each parade is organized by a different “krewe,” with the Krewe of Endymion, Krewe of Bacchus, and Krewe of Zulu being some of the most famous. The parades feature grand floats, often decorated with intricate themes and led by masked riders who throw beads and trinkets to the cheering crowds.

Mardi Gras season officially begins on Twelfth Night (January 6) and culminates on Fat Tuesday, the day before Ash Wednesday. Beyond New Orleans, cities like Baton Rouge and Lafayette also host their own unique Mardi Gras celebrations, each with distinct local flavors and traditions.

Travel tip: Arrive early to secure a good viewing spot for the parades along St. Charles Avenue or in the French Quarter. Don’t forget to bring a bag for collecting beads and a small chair for comfort while waiting.

2. There’s a lot of Cajun & Creole Cuisine

Louisiana is known for its rich fusion of flavors and cultures, primarily influenced by Cajun and Creole traditions. Dishes like gumbo, which blends seafood, sausage, and okra in a savory broth, and jambalaya, a hearty rice dish with meat and vegetables, are must-tries. Don’t forget to explore local favorites like crawfish étouffée and beignets, which are fluffy pastries dusted with powdered sugar. With food festivals and farmers’ markets abundant, you’ll never run out of delicious dining experiences.

Insider scoop: At the famous Commander’s Palace in New Orleans, try the turtle soup and the bread pudding soufflé for a taste of true local flavor.

3. Louisiana has a low cost of living

Louisiana has a low cost of living compared to many other states, making it an attractive option for newcomers. For instance, the median home sale price in cities like Baton Rouge is around $227,750, significantly lower than the national median of $438,441. This affordability makes Baton Rouge one of the best places to live in Louisiana. Additionally, average rental rates in Lafayette hover around $1,200 per month, and with a cost of living that is 13% lower than the national average, everyday expenses, such as groceries and utilities, are generally more affordable, allowing residents to enjoy a higher quality of life without breaking the bank.

If you’re considering moving to Louisiana, you’ll want to weigh the pros and cons of living in the Pelican State to decide if this state is right for you.

4. There are many unique dialects

Louisiana is a melting pot of languages and dialects, reflecting its diverse cultural heritage. You might hear a mix of English, French, and Creole in daily conversations, especially in Acadiana, where Cajun French is still spoken. This linguistic variety adds a unique flavor to interactions and community gatherings. 

5. You’ll want to take a swamp tour

Exploring Louisiana’s swamps offers an unforgettable adventure into the state’s unique ecosystems. Guided swamp tours provide opportunities to see alligators lounging in the sun, herons gracefully flying overhead, and the mesmerizing cypress trees draped in Spanish moss. Many tours also delve into the local folklore and history of the bayou, providing insights into the region’s natural beauty and wildlife.

Travel tip: Opt for smaller, eco-friendly tour operators for a more intimate experience. Early morning or late afternoon tours often provide the best wildlife sightings, as animals are more active during these times.

6. The state has significant history

Louisiana’s rich history is integral to its unique cultural identity, shaped by French, Spanish, African, and Native American influences. Exploring historic sites like the French Quarter in New Orleans, with its stunning 18th-century architecture and landmarks such as Jackson Square and St. Louis Cathedral, provides a glimpse into the colonial past. The historic homes along the Mississippi River, like Oak Alley, offer tours that delve into the complexities of the pre-Civil War era. Understanding this history enriches the experience of living in Louisiana, providing context for its diverse communities, cuisine, and lively festivals

7. You’ll experience live music everywhere

Music is the heartbeat of Louisiana, especially in cities like New Orleans and Lafayette. Jazz, blues, zydeco, and Cajun tunes fill the air, creating a lively atmosphere that invites participation. Local bars, street corners, and festivals are always alive with performances, and you might even catch an impromptu jam session at a neighborhood cafe. Joining in on the music scene allows you to experience the state’s vibrant culture firsthand.

Insider scoop: Check out local music calendars or apps like Songkick to discover lesser-known artists and impromptu jam sessions. Look for spots like Frenchmen Street in New Orleans, where you can catch multiple live shows in one night.

8. Be prepared for the hurricane season

If you’re moving to Louisiana, gearing up for hurricane season is a must. From June to November, tropical storms and hurricanes can sweep through the region, bringing high winds and heavy rains. Embrace your inner Louisianan by creating a rock-solid emergency plan: know your local evacuation routes by heart, stock up on essentials like water, non-perishable foods, and batteries, and keep important documents in a waterproof container. Stay connected by downloading local weather apps and tuning into trusted sources like the National Hurricane Center.

9. Louisiana has many festivals each year

Louisiana hosts over 400 festivals each year, showcasing its vibrant culture and traditions. Highlights include the French Quarter Festival, where local musicians perform across the historic streets, and the Louisiana Seafood Festival, which celebrates the state’s rich seafood heritage with dishes like shrimp po’boys and fried catfish. Many festivals also feature stunning art displays from local artists and craftspeople, creating a true feast for the senses. Don’t miss the Bayou Country Superfest, where top country music stars perform, or the Mardi Gras celebrations, filled with colorful parades and dazzling floats.

10. Boudin is a must in Louisiana

Boudin is a beloved sausage that showcases the unique flavors of Louisiana. Made from pork, rice, and spices, it’s a perfect snack or meal on the go. You can find boudin at local markets, roadside stands, and specialty shops, each with its own recipe and twist. Sampling this local delicacy is a rite of passage for anyone wanting to embrace the culinary culture of Louisiana.

11. Sport games are a big deal here

College football, especially LSU Tigers games, draws passionate fans clad in purple and gold, creating a sea of vibrant color at Tiger Stadium in Baton Rouge, one of the loudest venues in college football. The atmosphere is electric, with the iconic “Tiger Band” performing and fans gathering for lively tailgating parties featuring mouthwatering dishes like jambalaya, gumbo, and BBQ ribs. Meanwhile, the New Orleans Saints boast a dedicated following in the NFL, with the Superdome buzzing with energy during home games, where the “Who Dat” chant resonates through the crowd.

Methodology

Population data sourced from the United States Census Bureau, while median home sale prices, average monthly rent, and data on affordable and largest cities are sourced from Redfin.

Source: rent.com

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Raleigh, the capital of North Carolina, is known for its thriving tech industry, vibrant cultural scene, and beautiful green spaces. With a mix of Southern charm and modern amenities, Raleigh attracts people from all over the country. However, living in this bustling city comes with its own set of advantages and challenges.

Whether you’re looking at a cozy apartment in Five Points or a sleek apartment in Downtown Raleigh, this article will help you weigh the pros and cons of living in Raleigh.

Fast facts about living in Raleigh

  • Population: Approximately 470,000 residents
  • Average rent: $1,368 per month for a one-bedroom apartment
  • Median home sale price: $441,000
  • Public transit: GoRaleigh provides bus services throughout the city
  • Public parks: Over 200 parks and green spaces for recreation and relaxation
  • Annual tourists: Approximately 16 million visitors each year
  • Restaurants: Over 1,300, offering a variety of cuisines from around the world

1. Pro: Thriving tech industry

Raleigh is part of the Research Triangle, one of the largest research parks in the world, which includes nearby Durham and Chapel Hill. This area is a hub for technology, research, and innovation, attracting major companies like IBM, Cisco, and SAS. The presence of these tech giants, along with numerous startups, provides ample job opportunities and drives economic growth in the region.

2. Con: Mixed cost of living

Overall, the cost of living in Raleigh is about 2% less than the national average, making it relatively affordable. However, there are variations within different expense categories. Housing costs are about 4% less than the national average, with the average rent for a one-bedroom apartment in Raleigh around $1,368 per month and a median home sale price of $441,000. Utilities are approximately 3% less than the national average, providing some relief in monthly expenses. Groceries are about 1% less than the national average, which can help reduce the overall cost of living. However, health care costs are significantly higher, about 12% more than the national average, which can be a notable expense for residents.

3. Pro: Excellent education

Raleigh is home to several esteemed educational institutions, including North Carolina State University (NCSU), Meredith College, and Shaw University. These institutions offer a wide range of programs and contribute to the city’s vibrant academic atmosphere. Additionally, there are various public and charter schools providing diverse educational options, including top-rated schools like Raleigh Charter High School and Wake Early College of Health and Sciences.

Raleigh also boasts a number of research centers and specialized training programs, fostering innovation and continuous learning within the community. This strong emphasis on education not only benefits students but also supports the city’s growing economy and attracts a highly skilled workforce.

4. Con: Limited nightlife options

While Raleigh offers a variety of dining and entertainment options, its nightlife scene is not as vibrant as larger cities like New York or Los Angeles. The city has a more laid-back atmosphere, with fewer late-night venues and entertainment options. Residents seeking a bustling nightlife might find the options limited, though there are still plenty of local bars, breweries, and restaurants to enjoy. For those who crave more excitement, cities like Durham and Chapel Hill offer additional nightlife options but still require a short drive.

5. Pro: Green spaces and parks

Raleigh boasts numerous parks and green spaces where residents can enjoy outdoor activities. The city is home to expansive areas like Umstead State Park and Pullen Park, providing a wide range of recreational opportunities, including hiking, biking, picnicking, and more. The city’s commitment to maintaining and expanding its green spaces contributes to a high quality of life for its residents.

Parks and trails in Raleigh

  • William B. Umstead State Park
  • Pullen Park
  • Dorothea Dix Park
  • Lake Johnson Park
  • Neuse River Trail
  • Shelley Lake Park

6. Con: Limited public transportation

While Raleigh has made improvements to its public transportation system, it still lags behind other major cities. The GoRaleigh bus system provides essential services, but the routes and schedules may not be convenient for all residents. The city has a transit score of 29, a walk score of 31, and a bike score of 39. This means that public transportation options are limited, and most daily errands require a car. This limitation can be inconvenient for those who prefer not to drive or do not own a vehicle.

7. Pro: Vibrant arts and culture scene

Raleigh offers a thriving arts and culture scene, making it an appealing destination for those who appreciate creativity and the arts. The city is home to numerous galleries, theaters, and cultural institutions, such as the North Carolina Museum of Art and the Duke Energy Center for the Performing Arts. Residents can enjoy a wide range of cultural events, including art exhibitions, live performances, and music festivals throughout the year. This vibrant cultural environment not only enriches the community but also provides ample opportunities for personal enrichment and entertainment.

8. Con: Weather extremes

Raleigh experiences all four seasons, which can mean hot, humid summers and cold, occasionally snowy winters. While some residents appreciate the variety, others may find the weather extremes challenging to manage. Summer heat waves can be uncomfortable, and winter storms can disrupt daily life, affecting transportation and causing school and work closures. The transition seasons, spring and fall, can also be unpredictable, with sudden changes in temperature and weather conditions.

9. Pro: Strong sense of community

Raleigh is known for its strong sense of community, with numerous events and festivals that bring residents together. The city hosts a variety of cultural and social events, such as the Raleigh Arts Festival and the International Festival of Raleigh, which celebrate the city’s diversity and promote community engagement. Neighborhoods in Raleigh often have active community associations and local initiatives that foster a sense of belonging and camaraderie among residents.

Neighborhoods in Raleigh

  • Downtown Raleigh
  • North Hills
  • Glenwood South
  • Cameron Village
  • Brier Creek

10. Con: High humidity

Raleigh’s climate, while providing beautiful weather, also means high humidity levels. The humidity can be uncomfortable, especially during the summer months when temperatures can soar. High humidity can make outdoor activities less enjoyable and lead to increased reliance on air conditioning, which can raise energy costs. Even with air conditioning as a standard feature in most homes and buildings, the persistent humidity can still be a challenge, making it harder to stay comfortable and maintain certain household items like electronics and wooden furniture.

11. Pro: Diverse food scene

Raleigh’s food scene is diverse and innovative, with a wide range of restaurants offering various cuisines. From Southern comfort food to international delights, the city has something to offer every palate. The downtown area and surrounding neighborhoods are known for their trendy eateries, food trucks, and craft breweries. Additionally, Raleigh hosts several food festivals, such as the Downtown Raleigh Food Truck Rodeo and the International Food Festival, showcasing the city’s culinary talent and diversity.

12. Con: High taxes

While North Carolina has a relatively moderate tax rate, Raleigh’s local taxes and cost of living can still be a financial consideration for residents. Property taxes in Wake County are higher than in some other parts of the state, impacting homeowners significantly. The combined state and local sales tax rate is 7.25%, which can add to the overall cost of living. Residents need to consider these factors when planning their budgets, as they can affect everything from housing affordability to daily expenses.

13. Pro: Iconic landmarks

Living in Raleigh means having iconic landmarks and cultural institutions at your doorstep. From the historic North Carolina State Capitol to the contemporary North Carolina Museum of Art, these sites contribute to the city’s unique character and charm. These landmarks offer a wealth of educational opportunities, recreational activities, and aesthetic enjoyment, making the city a delightful place to live and explore.

Iconic landmarks in Raleigh

  • North Carolina Museum of Natural Sciences
  • Historic Yates Mill County Park
  • Pullen Park
  • Duke Energy Center for the Performing Arts
  • JC Raulston Arboretum

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So, pretend you’re wanting to rent an apartment in Phoenix, considering renting a house in Denver, or looking to move into a brand-new condo in Portland – and it’s time to submit your rental application. However, your poor credit history doesn’t qualify you to sign the dotted line alone, or maybe your income doesn’t meet the required threshold.

Depending on your circumstances, you might need someone else to co-sign your lease to qualify for the apartment. This ApartmentGuide article will help you understand the situations where a co-signer might be necessary and explain how having one can help you secure the rental you want.

What is a co-signer for an apartment?

A co-signer is a third-party, usually a person closest to you or a friend, who co-signs the lease with you. This person typically has a stronger financial standing,, has a robust credit history, and a good credit score.

As a co-signer, this third party has a legal obligation to pay if you default on your monthly rent. They don’t have to live in the apartment, but their name will be on the lease.

This arrangement serves as insurance for your potential landlord, especially if your credit check reveals a low credit score or an eviction history. It’s important to note that a co-signer is different from a guarantor, who merely promises to cover the rent if you fail to pay.

What does it mean to co-sign an apartment?

Co-signing an apartment means that you, as the co-signer, agree to share legal responsibility for the lease along with the primary tenant. As a co-signer, you are vouching for the tenant’s ability to pay rent and adhere to the lease terms. This includes covering any missed rent payments and potentially any damages to the property. Although you won’t reside in the apartment, your credit and financial history will be assessed during the application process.

Co-signing is a significant commitment because it involves a serious financial obligation to support the tenant and provide assurance to the landlord. If the tenant fails to pay rent or damages the property, you will be responsible for covering these costs. This means that any default by the tenant can affect your credit score and financial standing. Therefore, it’s essential to fully understand the risks and responsibilities before agreeing to co-sign an apartment lease.

When do you need a co-signer for an apartment?

But when exactly do you need a co-signer to secure your lease? Let’s explore the scenarios where having a co-signer might be necessary. 

You might need a co-signer to secure an apartment lease if:

  • Low credit score: A credit score that falls below the landlord’s minimum requirement.
  • Insufficient income: Monthly income that doesn’t meet the landlord’s criteria, often less than three times the rent.
  • Lack of rental history: Little to no previous rental experience, especially for first-time renters.
  • Past evictions: A history of evictions on your rental record.
  • Unstable employment: Short-term employment history or frequent job changes.
  • High debt levels: Significant existing debt that impacts your ability to pay rent.
  • Citizenship: New to the country with no established credit or rental history.
  • Self-employment: Income that is harder to verify, such as being self-employed or freelance work.

Who should you ask to co-sign your apartment

The first people to approach are loved ones or close friends, who would be willing to do it.

It’s vital that they trust you, but you also trust them. They will have the same legal right as you to the apartment. This includes the ability to access the space, transfer the lease, and potentially live there if they choose.

It’s important to have an open and honest conversation with potential co-signers about your financial situation and the responsibilities they will be taking on. This ensures that they are fully aware of the obligations and risks associated with co-signing your lease. These risks include being held liable for missed rent payments and potential damage to the property, which could impact their own credit score and financial stability..

You should also discuss every scenario you can think of with your potential co-signer to ensure this won’t destroy your relationship. Signing a legal agreement to take on someone else’s significant amount of debt isn’t a simple favor.

What is needed from a co-signer for an apartment?

Now that you found someone to offer support and help you pay your rent, what do they need to complete the process?

The property manager will require the co-signer to submit a rental application, a background check, proof of income, and a report from at least one of the credit bureaus for a credit check.

Proof of income will include at least two documents to verify that the co-signer’s income covers their own housing and the tenant’s. They will confirm the co-signer paid all previous bills, there are no past evictions or issues with their credit.

What’s the difference between a co-signer and a guarantor?

You may hear these terms interchangeably, but there are some fundamental differences. Think of co-signing as just another person who has access to the apartment and is held responsible for the rent. Every month, both the co-signer and the tenant are equally accountable for the money as they are both on the lease.

A guarantor, however, does not have access to the apartment and is really just a “guarantee” that the landlord will get their money. Guarantors are responsible for the rent money only after the tenant defaulted on the rental property payments. A guarantor is there to alleviate the financial burden when you fall short.

The guarantor can take you to court for not paying your rent, as well.

What to do if you can’t find a co-signer

So, you’ve gone through everyone you know and no one can or will co-sign for you. You’re not entirely out of luck yet.

You can still make a case for yourself with the property manager. For instance, try explaining why you have this issue in your credit score and what you’re doing to fix it. If you try this, it’s important to show proof, like recent payment streaks on your credit report.

If that doesn’t work, see if you can negotiate with your landlord. Offer to pay more rent upfront or a larger security deposit. 

What about co-signer services?

Be careful before signing anything if you’re considering co-signing companies. The service can act as a co-signer, but adds on a hefty fee to your monthly rent.Some services charge a one-time percentage of your rent, around 10 percent. While others charge a monthly fee that can equal up to 110 percent of rent payment.

Co-signing FAQs

Is it bad to co-sign for an apartment?

The short answer is no – as long as rent payments are made in full every month. For tenants, having a co-signer can help you secure a lease that you might not qualify for on your own. For co-signers, it’s important to understand that while co-signing itself doesn’t negatively impact your credit report, any missed or late payments by the tenant will. As long as the rent is paid on time, there will be no adverse effects on either party’s credit score.

Is it easier to get an apartment with a co-signer?

Absolutely. If the rental property accepts co-signers, it will be much easier for you to move in. Not guaranteed, but definitely much easier. This is particularly applicable for first-time renters (think college students), people on a credit-building journey, people with low credit scores or an eviction that was outside their control.

Are there alternatives to having a co-signer?

Some alternatives include offering a larger security deposit, paying several months’ rent upfront, or providing references from previous landlords or employers.

How to get around needing a co-signer for an apartment? 

You can offer a larger security deposit, pay several months’ rent upfront, provide strong references, or look for properties with more lenient rental requirements.

How does co-signing affect your credit?

As the co-signer, co-signing can impact your credit positively or negatively. If the primary tenant pays on time, it can improve your credit. However, if they default, it can negatively affect your credit score.

How to take a co-signer out of your lease?

To remove a co-signer from your lease, you typically need to prove financial stability on your own, such as demonstrating a good credit score, stable income, and positive rental history. You will also need to get the landlord’s approval and possibly sign a new lease agreement.

Do you need a co-signer if you’re legally an adult? 

You might need a co-signer if you’re legally an adult, especially if you have no credit history, limited income, or no prior rental history. Landlords often require a co-signer to mitigate the risk associated with younger tenants.

The information contained in this article is for educational purposes only and does not, and is not intended to, constitute legal or financial advice. Readers are encouraged to seek professional legal or financial advice as they may deem it necessary.

Source: apartmentguide.com

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Looking for ways to make money by driving? There are many opportunities to make money just by driving your car. Whether you prefer delivering packages, giving rides, or even doing tasks for others, there are many gig apps and services that can help you get started. A lot of people are earning good money just…

Looking for ways to make money by driving?

There are many opportunities to make money just by driving your car. Whether you prefer delivering packages, giving rides, or even doing tasks for others, there are many gig apps and services that can help you get started.

A lot of people are earning good money just by using their own cars for different jobs. You can pick your hours and choose the kind of work you like, so driving can be a great way to earn extra income without messing up your daily schedule.

Best Ways To Make Money Driving

Below are the best ways to make money driving.

1. HopSkipDrive

HopSkipDrive is a great way to make money if you like driving and working with kids. HopSkipDrive provides safe and reliable rides for schools and families. They help schools meet their needs for school transportation as well as help with school bus driver shortages. This app is designed for students who cannot use regular bus routes or need extra help with transportation.

The company pays much more than other ride-sharing services.

You can earn around $50 per hour as a CareDriver. This is higher compared to Uber or Lyft. HopSkipDrive sometimes has special promotions where new drivers can earn $500 for 10 trips in their first 14 days, completing a certain number of rides before 8 a.m. and so on.

Becoming a driver has many steps, but it’s for good reasons. You’ll need to complete online orientation, background checks, and a vehicle inspection. This process makes sure drivers are safe and reliable for the children that they are driving.

The company has flexible hours. You can choose when you want to work. This makes it easy to fit into your schedule.

HopSkipDrive is currently available in many states such as Colorado, California, Washington, and Texas.

2. Deliver groceries with Instacart

Delivering groceries with Instacart is a great way to make money driving. You can work as a full-service shopper or an in-store shopper. Full-service shoppers both shop and deliver the groceries. In-store shoppers stay inside the store and prepare orders for pick-up.

To start, you must be at least 18 years old. You’ll need a smartphone to use the Instacart app. You’ll also need a car to deliver groceries if you choose the full-service option.

When you sign up, Instacart will send you a payment card. You’ll use this card at the store to pay for groceries. This card arrives about 5 to 7 days after you complete the sign-up.

Flexibility is a huge perk because you can choose when and how much you want to work. This makes it easy to fit around your schedule. You could work a few hours on weekends or even fill gaps between your main job hours.

Being an Instacart shopper means that attention to detail is important. Customers count on you to pick the best items, like fresh produce and correctly labeled products. Good service can lead to better tips and higher ratings. It’s not as easy as just throwing items in a cart and buying them – I have had careless shoppers in the past, and when that happens, it’s just a waste of my time because I still have to go to the grocery store to fix their mistakes.

You can learn more at Instacart Shopper Review: How much do Instacart Shoppers earn?

Another popular option for grocery deliveries is Shipt. I have not used this before, but it is owned by Target and many people like it.

3. Deliver with DoorDash

Delivering with DoorDash is a popular way to make extra money driving. As a Dasher, you can work whenever you want. There are no set hours, so you can fit it around your schedule.

You can use any car or even a bike (in certain cities). This gives you a lot of flexibility. Plus, it’s easy to sign up and start delivering quickly.

Dashers earn money through base pay, tips, and extra incentives. The base pay is what you earn for each delivery. You also keep 100% of your tips, which can add up.

Many Dashers earn around $15 to $20 per hour. This can vary depending on where you live and how busy it is.

Delivering food to customers is simple. You just have to pick up the order from a restaurant and drop it off at the customer’s address. DoorDash provides you with all the instructions and directions you need.

If you enjoy driving and want to make some extra cash, DoorDash is a great option. It’s simple, flexible, and you can start earning quickly.

Please click here to sign up for DoorDash.

Note: There are many other food delivery apps such as Grubhub, Uber Eats, and Gopuff (mainly snack delivery) that you can also do food delivery service with too.

4. Ridesharing

Ridesharing can be a great way to make extra money. Apps like Uber and Lyft let you use your car to give people rides.

The best part is that rideshare drivers can work whenever they want. This flexibility means you can drive in your spare time or make it a full-time job.

To get started with rideshare apps, you need to sign up and create an account. You’ll need to provide some information and upload documents like your driver’s license and insurance.

One way to earn more is by driving during peak hours. These are times when people need more rides, so prices go up. Friday and Saturday nights are some of the busiest times.

Another way to earn more is by driving in busy areas or near popular events because this can help you get more rides in less time.

5. Work for Amazon Flex

Amazon Flex is a great way to make money by delivering packages. Amazon Flex drivers can earn between $18 and $25 an hour, and this depends on where you live and demand.

You use your own vehicle to deliver packages (you need a 4-door, midsize sedan or a larger vehicle, such as an SUV). This means you will need a reliable car and a smartphone to use the Amazon Flex app.

You pick your own schedule with Amazon Flex so this makes it perfect for busy people. You can reserve blocks of time in advance or choose them each day.

To work for Amazon Flex, you need to be 21 or older. You also need a valid driver’s license and insurance.

6. Deliver RVs

Delivering RVs can be a fun way to make money while seeing the country. You get to travel to different places, driving different types of RVs from one location to another.

To start, look for companies that specialize in RV transportation. These companies need drivers to move their RVs around. You can also check with RV dealerships because they sometimes post job listings for delivery drivers.

Many companies require you to have a Commercial Driver’s License (CDL). This is important because many RVs are large and need skilled drivers. Check your state’s requirements and whoever you would be working for to see what you need.

After you’re hired, you will be transporting RVs to different places. This might include taking new RVs to buyers or moving rental RVs to different locations. Make sure you know how to handle the RV you’re driving, whether it’s a small campervan or a large motorhome.

Delivering RVs gives you the chance to make money while traveling. You’ll get to see new places and have some fun experiences along the way.

We have met and seen many people transporting RVs over the years (we RVed full-time for many years, and now we RV part-time!), and it has always seemed like a nice gig. In fact, someone drove our newest RV to deliver it to the dealership that we bought it from!

Recommended reading: 11 Ways To Get Paid To Drive A Car Across The Country

7. Work as a medical courier

Becoming a medical courier is a great way to make money while helping people. Medical couriers deliver important items like medication, medical supplies, and lab samples.

Many places hire medical couriers. These include:

  • Hospitals have couriers to move medical samples, documents, and medications between buildings.
  • Pharmacies hire couriers to deliver prescriptions to patients who can’t come in.
  • Labs need couriers to pick up and drop off medical samples for testing.
  • Home healthcare agencies use couriers to bring medical supplies and medications to patients at home.
  • Medical supply companies need couriers to deliver equipment and supplies to healthcare places and patients.

8. Drive for a rental car company

Driving for a rental car company is a great way to make money driving. Companies need help moving their cars from one location to another.

Sometimes, rental companies need cars moved across the country. For example, they might need more cars in Florida during the winter.

You can also help by delivering cars to repair shops. After repairs, you can drive them back to the rental office.

9. Advertise with Wrapify

You can make extra money by advertising on your car with Wrapify.

It’s simple and easy! First, you sign up on the Wrapify app. After passing a background check, you’re ready to start earning.

With Wrapify, you drive your usual routes and the app tracks your mileage. The more you drive, the more you can earn.

Full car wraps pay the most, up to $452 a month. Partial wraps pay less, about $196 to $280 each month. It’s passive income for just driving your car.

There are many other car advertisements platforms, such as Carvertise, Nickelytics, StickerRide, and Stickr.

Recommended reading: 6 Best Ways To Get Paid to Advertise On Your Car

10. Truck driver

Driving a truck across the U.S. is a way to make money while driving. The demand for safe truck drivers keeps growing.

To get started, you need a Commercial Driver’s License (CDL). It’s required for all truck driving jobs. You can apply to trucking companies to work as a company driver.

Starting salaries for truck drivers range from $30,000 to $45,000 per year. Experienced drivers can make up to $80,000 or more annually.

Owning your own truck can increase your earnings even more. Owner-operators tend to make higher rates since they take jobs as needed.

11. Rent out your car

You can make money by renting out your car when you’re not using it. Many car-sharing platforms make it easy to get started. Some popular options include Turo and Getaround, which help you earn extra cash by renting your car to people in your area.

You just need to list your car, set your price, and wait for renters. It’s a simple way to turn your car into an income source.

You do want to remember to check your insurance and make sure it covers rentals. You want to be protected in case anything happens while someone else is driving your car.

12. Help people move

Moving can be very stressful for many people, and they tend to need help to move boxes and furniture. This is where you come in.

If you have a pickup truck or cargo van and some muscle, you can sell moving services. People are willing to pay for the convenience of having someone else do the heavy lifting.

I know for me, I hate moving, so I much prefer to pay someone to help me with this.

13. Deliver with Roadie

Roadie is a great platform to make money with your car, and it is owned by UPS. The company partners with businesses for same-day and local next-day deliveries, using regular passenger vehicles. You can deliver a wide variety of items, from luggage to lawn mowers and more.

Roadie gives you the flexibility to choose deliveries that fit your schedule. You can decide when and how often you want to work. The app is easy to use, and you can see real-time tracking for your deliveries. This helps you manage your time effectively and plan your route.

Some deliveries pay more if the items are larger or heavier. You can earn an average of $12 per trip on local deliveries, and more on multi-stop trips. Plus, this is one of the best driving apps to make money on the same day.

14. Taxi driver

Becoming a taxi driver can be a good way to make money driving. You’ll need a clean driving record and a reliable car. In most places, you’ll also need a special license. This usually means passing an exam and possibly a background check.

Working for a taxi company means they might provide the car. You’ll just drive and get paid. If you drive your own car, you keep more of the money but pay for gas and maintenance.

Some drivers make even more by working during busy times. Think weekends, holidays, and big local events. The faster you get passengers to where they need to go, the more passengers you can pick up.

Frequently Asked Questions

There are many ways to make money driving, from delivering food to ridesharing. Here are answers to common questions about how to make money driving.

Can you make money driving?

Yes, you can make money driving by delivering groceries with Instacart, driving for apps like HopSkipDrive, or delivering with DoorDash. You can also choose ridesharing or working for services like Amazon Flex.

What app pays you to drive?

Several apps pay you to drive such as Uber and Uber Eats, which let you drive passengers or deliver food. The Roadie app lets you deliver items on your chosen routes. There are many more apps that pay you to drive, such as Instacart and Turo too.

How to make a living as a driver?

To make a living as a driver, consistency is key. You can combine multiple apps like Uber, DoorDash, and Amazon Flex. Each app has different opportunities and peak hours. Working during busy times can increase your earnings.

How can I make money on the road?

There are many ways to make a living on the road, such as by delivering RVs to RV dealerships, wrapping your car with an advertisement, or even becoming a truck driver.

How can you make extra money by driving your car across the country?

Driving your car across the country can also make you money. Services like Roadie let you deliver long-distance items. You can also start a moving company and help people relocate. Each trip can be a paid gig, making it a good way to earn while traveling.

How To Make Money Driving – Summary

I hope you enjoyed this article on how to make money driving.

There are many ways to make money while driving such as with apps to make money with your car like HopSkipDrive, Instacart, DoorDash, Uber, Lyft, Amazon Flex, and Roadie.

There are also ways to make money driving that don’t involve an app, such as delivering RVs to dealerships, working as a medical courier, driving for a rental car company, placing an advertisement on your car, becoming a truck driver, helping people move, and becoming a taxi driver.

Whether you’re looking for driving side hustles in the gig economy or if you are looking for a full-time career, there are many ways to make money driving.

Do you want to learn how to make money driving?

Recommended reading:

Source: makingsenseofcents.com

Apache is functioning normally

Favorable economic trends are helping mortgage rates continue the downward trend they’ve been on for the past few months.

HousingWire‘s Mortgage Rates Center showed that the average 30-year conforming loan rate was 7.06% on Tuesday, down from 7.11% a week earlier. The 15-year conforming loan rate showed an even larger pullback, declining from 6.90% to 6.79% during the week.

That data comes on the heels of cooling inflation numbers. Last week, the Consumer Price Index (CPI) showed that prices for goods and services declined by 0.1% from May to June. They rose 3% on an annualized basis, the slowest rate of growth in more than three years.

More good news for the housing and mortgage industries arrived Monday through remarks delivered by Federal Reserve Chair Jerome Powell. At an event in Washington, D.C., Powell indicated that policymakers would not wait for inflation to reach 2% before making cuts to benchmark rates. The federal funds rate has been in a target range of 5.25% to 5.5% since July 2023.

“The implication of that is that if you wait until inflation gets all the way down to 2%, you’ve probably waited too long, because the tightening that you’re doing, or the level of tightness that you have, is still having effects which will probably drive inflation below 2%,” Powell said, according to reporting by CNBC.

According to the CME Group‘s FedWatch tool, analysts believe there is a 93% chance that rates will remain unchanged after the Fed’s meeting at the end of July. But 100% of analysts have penciled in a cut in September.

HousingWire Lead Analyst Logan Mohtashami believes that mortgage rates could fall to 6% if the 10-year Treasury yield continues to recede. The spread between the 10-year yield and the 30-year rate narrowed to 2.62% last week, down from a recent peak of 3.1% in June 2023.

Mohtashami said that mortgage rates would be 0.48% higher today if the highest levels of spreads from last year were incorporated today. The shrinking spreads are correlating with a rise in purchase mortgage applications.

“The last time we saw 12 weeks of positive trending purchase app growth was when mortgage rates reached 6%,“ Mohtashami wrote Saturday. “Purchase apps have been positive for four out of the last five weeks and mortgage rates aren’t even near 6%. Now, context is critical because we are working from the lowest bar ever, so it doesn’t take much to move the needle higher with purchase apps, as the last five weeks have shown.“

With mortgage rates stubbornly remaining above 7% for all of 2024, home-price growth has cooled and supply has increased in many areas of the country.

According to data released Tuesday by First American, U.S. home prices grew by 5.6% year over year in June. It marked the sixth straight month that the annualized appreciation rate has slowed.

Anaheim, California, led the way among the metro areas analyzed by First American with 10.2% price growth compared to June 2023. Miami (8.9%), Pittsburgh (6.5%), Las Vegas (6.4%) and San Diego (6.2%) each exceeded the national average rate of appreciation.

“Elevated mortgage rates continue to keep homeowners rate locked-in, while reducing affordability for potential first-time home buyers,” Mark Fleming, chief economist for First American, said in a statement. “The resulting pullback in demand coincided with an uptick in supply, which is cooling price growth. However, housing remains fundamentally undersupplied nationally, which will keep a floor on how low house price appreciation can fall.”

Data from Altos Research shows that the supply of single-family homes for sale shrank slightly last week to 651,000. That figure is up 38.5% year over year but is still 32% below the pre-pandemic figure of July 2019. Altos also noted that the share of listings with a price cut has grown to 38.3%.

“If we get lucky and mortgage rates ease from here on out for the rest of the year, then one place we’ll measure a rebound in demand will be fewer price cuts,“ Mike Simonsen, president of Altos Research, wrote on Monday. “When you list your home, if you don’t get the offers, you cut your price. But when a few more offers are made by newly affordably mortgages for buyers, then this stat will plateau and even tick down.“ 

Source: housingwire.com