Nearly 60 percent of future retirees think they will need a paycheck in retirement that’s as big or bigger than what they receive today to live comfortably As retirement looms, the majority of Gen X Americans say their retirement nest egg is just three times their annual salary or less While nearly two-thirds of Gen … [Read more…]
If you pay your credit card balance in full each month, then your card’s ongoing interest rate (aka its annual percentage rate, or APR) is irrelevant, since you’ll never owe any interest.
But if you tend to carry a balance from month to month, knowing where your interest rate stands is key to saving money, especially if you’re revolving several balances.
Credit card APRs can change periodically based on a variety of factors, such as the general state of the economy and your own creditworthiness, so it’s not always easy to keep up with. (A credit card issuer has the right to change a card’s interest rate on future purchases, but it must generally notify you 45 days in advance.)
But here’s why it’s helpful to be aware of the figure and how to use it to your advantage.
Understanding your credit card’s interest rate can help you in spotting better ones. Locate your credit card’s APR on the card’s statement or by logging into the account online or in the app.
For context, the average interest rate for credit card accounts assessed interest charges as of August 2024 was 23.37%, according to data from the Federal Reserve. That kind of interest can get costly in a hurry, although rates will vary widely depending on the type of card.
Rewards credit cards and store credit cards, for instance, tend to have higher interest rates, so they’re ideal only for those who can pay off the balance in full every month, ensuring that interest charges don’t eat into the value of any rewards or perks the card offers.
If your interest rate is significantly higher than average, or simply too high for your liking, you may have a few options, depending on your credit:
Consolidation options, such as a balance transfer credit card or a personal loan, can bring down the cost of your debt. The ideal offer for a balance transfer credit card is a 0% intro APR promotion for a lengthy window of time, giving you breathing room to chip away at the debt without incurring interest charges. It’s important to factor in the cost of any balance transfer fee to determine if it will save money compared to the interest charges you’re expected to pay over time. If you have debt across several credit cards, a personal loan can consolidate balances into a single lower-interest fixed payment.
These kinds of options will typically require good credit (typically FICO scores of 690 or higher) to get the most affordable rates. Another option for those with less-than-ideal credit is to see whether you qualify for a debt management plan at a nonprofit credit counseling agency. These plans consolidate eligible debts into a single fixed payment at a lower rate, usually regardless of your credit scores.
“In our latest analysis, the interest rates have gone from an average of 28% down to 7.3%, so that can actually give people the opportunity to handle that,” says Andy Manthei, a former financial counselor and currently a change cultivator through new partnerships and advocacy for marginalized communities at GreenPath, a nonprofit credit counseling agency.
Regardless of which option you choose, avoid adding new purchases to your credit card while you’re paying down debt. Switch to a payment method like cash or debit to make more progress toward your goals.
Debt consolidation will save more money on hefty balances that require a long term to pay down. For lower short-term balances that can be paid off relatively quickly, though, consider calling your credit card issuer to see whether negotiating a lower interest rate is possible.
It can help to have an account that is in good standing, and you may have to talk to several people before making progress, but it may be worth it if saves you money. Also consider this option if your credit scores have increased since you last received the card, Manthei says.
Alternately, if a financial hardship might get in the way of making payments, ask your issuer whether it offers a hardship plan. This option could lower your interest rate for a short window, depending on the terms the issuer offers. The types of hardships that might qualify include circumstances beyond your control: a pay cut, unemployment, a serious illness, a family emergency or a natural disaster, among others.
Once you’ve paid down existing debt, contemplate whether you want to return to spending with credit cards at all. The key is knowing yourself and whether you can manage cards differently the next time around. If you know you’re still likely to carry a balance over time — even though it’s not ideal — explore low-interest credit cards that can prevent your bill from becoming too expensive.
Some credit card issuers offer pre-qualification options that not only help you determine your odds of approval, but in some cases may even show you your “offer” — including your APR and/or credit limit — before you officially apply, meaning there won’t be any impact on your credit scores unless you decide to accept.
“You could even look at local credit unions or banks … and see what is their range of rates,” Manthei says.
Credit unions require a membership to join based on different criteria like where you live or work, but joining one could be worth the extra steps. Federal law caps the interest rates on most loans and credit cards at federally chartered credit unions. As of this writing, interest rates on those products don’t exceed 18%.
Source: nerdwallet.com
Both Fannie Mae and Freddie Mac announced newly expanded appraisal waivers to reduce costs and help more first-time home buyers purchase a property.
The pair already offer appraisal waivers on some of the loans they guarantee, but the loan-to-value ratio (LTV) is currently capped at 80%.
This means you must come in with a least a 20% down payment to avoid the cost and potential hassle of a traditional appraisal.
To further streamline this process and ease the burden on lower-income borrowers, this number will increase to 90% LTV beginning in the first quarter of 2025.
And it will be expanded to the program limits (e.g. 97% LTV) for their more robust inspection-based appraisal waivers.
While appraisal waivers aren’t all that new; they were introduced by Fannie Mae in 2016 for refinance transactions and later expanded to home purchases in 2017, they’re limited in reach.
In other words, many home buyers still need to pay for an appraisal when they apply for a mortgage.
This results in an added cost, which can range from say $400 to $1,000 or more. And a longer home loan process as the appraisal is ordered, conducted, and submitted.
It can also lead to uncertainty regarding the collateral value, possibly jeopardizing the loan late in the game if the human appraiser returns with a value below the purchase price.
For these reasons, receiving an appraisal waiver can be a blessing. What’s not to like? A faster, lower-stress loan approval and reduced borrowing costs.
But as mentioned, these only applied to loans where borrowers were able to come in with a 20% down payment.
This clearly didn’t help those most in need, namely first-time home buyers and/or lower-income borrowers who could only muster 3-5% down.
Well, beginning in the first quarter of 2025, these money-saving waivers will be expanded from an 80% maximum LTV to 90% LTV/TLTV.
So if you come in with just 10% down on your home purchase, you might soon be able to skip the appraisal too.
And the maximum LTV ratio for purchase loans eligible for inspection-based appraisal waivers will jump from 80% all the way to 97%.
This means borrowers will be able to get a 3% down Home Possible loan from Freddie Mac, or a Fannie Mae HomeReady mortgage without the appraisal.
First off, I should note that these appraisal waivers apply to conventional loans, not government loans such as FHA loans or VA loans.
So only conforming loans backed by Fannie Mae and Freddie Mac qualify for an appraisal waiver.
Secondly, there are two different types of appraisal waivers. Let’s talk about the straight up waivers that rely solely on data and technology to accept the lender-provided value.
These typically require that a prior appraisal that was conducted on the subject property be found in the database.
They are also limited to one-unit properties (including condos) for primary residences and second homes.
In addition, there is a $1 million maximum estimated value (or sales price) for properties to receive the waiver.
The good news is there is no fee to the borrower for these options, which could save them several hundred dollars or more.
There are also so-called inspection-based appraisal waivers, which will see their maximum LTV increase from 80% to 97%.
These more robust appraisal alternatives require property information to be physically collected on-site by trained data collectors.
Similar to an appraisal, the originating lender arranges for property data collection, but the result should be decreased costs and faster turn-times.
The cost of an inspection-based appraisal might be half the cost of a traditional appraisal, so perhaps $200 or so vs. $400 or more.
While these changes will likely be welcomed with open arms by mortgage lenders (and not so much by appraisers), there is the question of risk.
The collateral value of the property is a huge part of the equation when underwriting and approving a loan.
If home appraisals are waived, one could argue that the loan is inherently riskier.
However, this is actually why Fannie Mae stopped using the phrase “appraisal waiver” and replaced it with Value Acceptance.
That change was implemented to better reflect the actual process, which relies upon data collection and technology to accept the lender-provided value.
This isn’t dissimilar from a human appraiser, who also uses data collection to come up with an appropriate value that supports the entered price.
But my guess is there will be some scrutiny, especially as the changes are being introduced at a time when housing affordability has rarely been worse.
Allowing a home buyer to forgo an appraisal when putting just 3% down sounds a little scary when home prices are at/near all-time highs and have increased ~50% in just the past few years.
It also widens the gap between conventional loans and government-backed loans, the latter of which are already known to be more difficult to get approved for due to inspection/appraisal requirements.
(photo: m kasahara)
Source: thetruthaboutmortgage.com
When people think of Fort Wayne, they might first picture its bustling downtown and rich industrial history. However, the true essence of living in Fort Wayne extends well beyond the city center. The suburbs of Fort Wayne offer a peaceful, laid-back lifestyle with convenient access to the city’s amenities and charm. These Fort Wayne suburbs span across different parts of the region, each with its unique character and appeal.
In this ApartmentGuide article, we’ll explore some of the most notable Fort Wayne suburbs—from friendly neighborhoods to scenic communities along the Maumee River—highlighting key aspects like population, average rent, and what makes each area stand out. Whether you’re searching for the perfect apartment in Fort Wayne or simply curious about the different neighborhoods, let’s discover the best parts of Fort Wayne to call home.
Before we dive into the top Fort Wayne suburbs, let’s look at the overall cost of living in Fort Wayne. The cost of living here is about 9% lower than the national average, making it an affordable choice for many residents. Housing plays a major role in this affordability, with the median sale price for a home in Fort Wayne at $225,900, which is 48% lower than the national average of $432,657. Rent is also affordable, with the average rent for a one-bedroom apartment in Fort Wayne at $1,142, about 25% less than the national average of $1,514.
While some Fort Wayne suburbs provide budget-friendly options, others may offer premium amenities and conveniences. In this guide, we’ll explore a range of top suburbs, offering different lifestyle and housing opportunities to match your budget and preferences.
Known for: Friendly atmosphere, local parks, and small-town charm
New Haven, located just east of Fort Wayne, offers a cozy, small-town feel with a tight-knit community. Known for its well-maintained parks like Moser Park and the scenic Maumee River, it’s ideal for outdoor enthusiasts. New Haven’s main street area has a mix of local shops, cafes, and annual events like the Canal Days Festival, giving it a welcoming atmosphere. Housing here varies from older single-family homes to newer developments, making it accessible for a wide range of residents.
Population: 16,000
Median home sale price: $350,000
New Haven transportation scores: Walk Score 70, Bike Score 46
Apartments for rent in New Haven, IN | Houses for rent in New Haven, IN | Homes for sale in New Haven, IN
Known for: Upscale neighborhoods, schools, and suburban convenience
Aboite Township is a desirable suburb in Fort Wayne known for its high-quality schools, parks, and a variety of upscale residential options. The area features beautiful subdivisions with well-maintained homes, local parks, and easy access to shopping and dining along Jefferson Boulevard. Aboite’s access to major highways also provides convenience for commuters. The housing market includes larger single-family homes with spacious yards, appealing to those seeking a suburban lifestyle.
Population: 39,000
Median home sale price: $479,900
Aboite Township transportation scores: Walk Score 4, Bike Score 51
Known for: Peaceful living, new developments, and community events
Located north of Fort Wayne, Huntertown is a growing community that combines rural charm with modern amenities. It has seen significant development over recent years, with new residential neighborhoods and local amenities emerging. Known for its quiet, country feel, Huntertown appeals to those looking for a peaceful environment while being a short drive from Fort Wayne’s urban conveniences.
Population: 6,000
Median home sale price: $350,900
Huntertown transportation scores: Walk Score 37, Bike Score 36
Apartments for rent in Huntertown, IN | Houses for rent in Huntertown, IN | Homes for sale in Huntertown, IN
Known for: Scenic river views, close-knit community, and outdoor recreation
Leo-Cedarville, northeast of Fort Wayne, is known for its picturesque surroundings along the St. Joseph River. The suburb offers ample opportunities for outdoor activities, with popular spots like Riverside Gardens Park and Cedarville Reservoir. The area has a rural feel with access to necessary amenities, making it attractive to those seeking a quieter lifestyle. The housing market includes spacious properties with large yards, ideal for those who enjoy a scenic, serene environment.
Population: 4,000
Average rent for a one-bedroom apartment: $875
Median home sale price: $316,950
Leo-Cedarville transportation scores: Walk Score 16, Bike Score 31
Apartments for rent in Leo-Cedarville, IN | Houses for rent in Leo-Cedarville, IN | Homes for sale in Leo-Cedarville, IN
Methodology: The suburbs included in this list were selected based on their overall popularity, determined by search trends and housing demand in the Fort Wayne area. Average rent and home sale price data were sourced from Redfin and Rent.com as of October 2024. Transportation data, including Walk Scores, Bike Scores, and Transit Scores, was sourced from Walk Score.
Fraud is another critical issue that the mortgage industry is grappling with, and it’s one that technology could help solve. Sherman acknowledges the increasing risk of fraud in the business, particularly as the volume of digital transactions grows. “Every big business, no matter how big, is at risk in terms of data security,” he told … [Read more…]
When people think of New York, they often picture the bustling streets of Manhattan, but the true essence of living in the greater New York City area extends beyond the urban core. The suburbs of New Rochelle offer diverse residential areas that provide a quieter, more relaxed lifestyle while still offering easy access to the vibrant amenities of the city. These New Rochelle suburbs are spread across the surrounding regions, each with its own unique character and appeal.
In this ApartmentGuide article, we’ll explore some of the most notable New Rochelle suburbs—from serene lakeside communities to bustling town centers—highlighting key aspects such as population, average rent, and what makes each area stand out. Whether you’re searching for the perfect apartment in New Rochelle or curious about the different New York neighborhoods, let’s discover the best parts of New Rochelle to call home.
Before we dive into the top New Rochelle suburbs, let’s cover how much it costs to live in New Rochelle. The overall cost of living in New Rochelle is higher than the national average, driven largely by the high housing costs typical of the greater New York area. The median sale price for a home in New Rochelle is around $700,000, which is significantly higher than the national average of $432,657. Rent follows a similar trend, with the average rent for a one-bedroom apartment in New Rochelle at $2,742, also well above the national average of $1,514.
While some suburbs around New Rochelle offer more affordable options, others can be just as expensive, if not more. Here, we’ll explore a range of top suburbs, providing different lifestyle and housing opportunities depending on your budget and preferences.
Known for: Waterfront charm, historic homes, and quaint village atmosphere.
Larchmont is a picturesque waterfront suburb located just south of New Rochelle. It offers a blend of historic homes, beautiful parks, and a charming downtown area that features local shops and restaurants. Residents love the village-like feel combined with easy access to New York City via the Metro-North Railroad. Housing options include a variety of architectural styles, from Victorian to Colonial, making it a highly desirable area for those who appreciate classic charm and modern convenience.
Population: 6,000
Median home sale price: $1,325,000
Larchmont transportation scores: Walk Score 92, Bike Score 53
Apartments for rent in Larchmont, NY | Houses for rent in Larchmont, NY | Homes for sale in Larchmont, NY
Known for: Small-town vibe, highly walkable, and easy access to NYC.
Pelham, just north of the Bronx and adjacent to New Rochelle, is a highly sought-after suburb due to its walkability and close-knit community feel. Its historic homes, vibrant local businesses, and proximity to the city make it an attractive choice for commuters. Pelham’s downtown area has a variety of shops, restaurants, and entertainment options, making it a lively area with plenty to offer. Pelham is known for its older homes with charming architectural features, giving the area a distinctive look.
Population: 12,000
Median home sale price: $1,320,000
Pelham transportation scores: Walk Score 87, Bike Score 43
Apartments for rent in Pelham, NY | Houses for rent in Pelham, NY | Homes for sale in Pelham, NY
Known for: Waterfront parks, vibrant downtown, and a mix of urban-suburban living.
Mamaroneck offers a perfect mix of urban and suburban lifestyles. Known for its waterfront parks and bustling downtown, residents enjoy the amenities of city living while still feeling connected to the natural beauty of Long Island Sound. Mamaroneck Avenue is the heart of the town, offering a wide range of dining, shopping, and entertainment options. The housing market includes a mix of single-family homes, townhouses, and apartments, providing options for a variety of budgets.
Population: 19,000
Average rent for a one-bedroom apartment: $3,435
Median home sale price: $875,000
Mamaroneck transportation scores: Walk Score 66, Bike Score 49, Transit Score 39
Apartments for rent in Mamaroneck, NY | Houses for rent in Mamaroneck, NY | Homes for sale in Mamaroneck, NY
Known for: Affluence, top-rated schools, and elegant homes.
Scarsdale is one of Westchester County’s most affluent suburbs, offering sprawling estates and upscale amenities. Known for its high-end real estate and prestigious schools, Scarsdale is a premier destination for those seeking luxury living. Its historic town center features Tudor-style architecture, boutique shopping, and gourmet dining. Housing options consist mostly of large single-family homes, with many properties featuring expansive lawns and manicured gardens.
Population: 17,000
Median home sale price: $1,877,500
Scarsdale transportation scores: Walk Score 40, Bike Score 36, Transit Score 35
Apartments for rent in Scarsdale, NY | Houses for rent in Scarsdale, NY | Homes for sale in Scarsdale, NY
Known for: Historic charm, high-end living, and a walkable downtown.
Bronxville is a small yet affluent village with a strong sense of history. It is known for its beautiful homes, upscale shops, and a close-knit community vibe. Residents enjoy walking through the scenic streets lined with Tudor and Colonial-style homes, as well as visiting the local boutiques and restaurants in the village center. Bronxville is also a popular choice for commuters due to its proximity to the city and access to the Metro-North.
Population: 6,500
Average rent for a one-bedroom apartment: $1,950
Median home sale price: $700,000
Bronxville transportation scores: Walk Score 94, Bike Score 54
Apartments for rent in Bronxville, NY | Houses for rent in Bronxville, NY | Homes for sale in Bronxville, NY
Methodology: The suburbs included in this list were selected based on their overall popularity, determined by search trends and housing demand in the New Rochelle area. Average rent and home sale price data were sourced from Redfin and Rent.com as of October 2024. Transportation data, including Walk Scores, Bike Scores, and Transit Scores, was sourced from Walk Score.
When people think of Bakersfield, they often picture its agricultural roots and vast landscapes, but the true essence of living in Bakersfield extends beyond its farming heritage. The suburbs of Bakersfield are diverse residential areas that offer a quieter, more relaxed lifestyle while still providing easy access to the city’s growing amenities. These Bakersfield suburbs are spread across different parts of the region, each with its own unique character and appeal.
In this ApartmentGuide article, we’ll explore some of the most notable Bakersfield suburbs—from the scenic neighborhoods to the friendly communities—highlighting key aspects such as population, average rent, and what makes each area stand out. Whether you’re searching for the perfect apartment in Bakersfield or curious about the different Bakersfield neighborhoods, let’s discover the best parts of Bakersfield to call home.
Before we dive into the top Bakersfield suburbs, let’s cover how much it costs to live in Bakersfield. The overall cost of living in Bakersfield is about 12% higher than the national average, making it a moderately affordable place to live compared to other parts of California. Housing is a key factor, with the median sale price for a home in Bakersfield at $415,000, which is slightly lower than the national average of $432,657. Rent follows a similar trend, with the average rent for a one-bedroom apartment in Bakersfield at $1,487, also more affordable than the national average of $1,514.
While some suburbs around Bakersfield offer even more affordable options, others can be slightly more expensive, depending on amenities and proximity to the city. Here, we’ll explore a range of top suburbs, providing different lifestyle and housing opportunities based on your budget and preferences.
Known for: Friendly atmosphere, suburban amenities, and growing community
Rosedale, located in northwest Bakersfield, is a fast-growing suburb known for its community-oriented vibe and abundant suburban amenities. The area offers various housing options, from modern subdivisions to larger single-family homes with spacious yards. With its growing number of shopping centers, schools, and recreational facilities, Rosedale attracts those looking for a peaceful suburban lifestyle. The nearby Riverlakes Ranch Golf Course adds to the area’s appeal for outdoor enthusiasts, while its convenient access to major highways makes commuting to Bakersfield’s downtown area easy.
Population: 20,000
Median home sale price: $730,000
Rosedale transportation scores: Walk Score 60, Bike Score 43
Apartments for rent in Rosedale, CA | Houses for rent in Rosedale, CA | Homes for sale in Rosedale, CA
Known for: Upscale living, golf courses, and gated communities
Seven Oaks is an upscale neighborhood in southwest Bakersfield, known for its luxury homes, golf courses, and exclusive gated communities. The Seven Oaks Country Club is a highlight, offering residents access to a championship golf course, tennis courts, and upscale dining. The area boasts beautifully manicured landscapes and quiet streets, making it a sought-after location for those seeking suburban luxury. Residents can enjoy nearby parks, shopping centers, and quality schools, contributing to Seven Oaks’ status as one of the most desirable neighborhoods in Bakersfield.
Population: 10,000
Seven Oaks transportation scores: Walk Score 24, Bike Score 38, Transit Score 18
Apartments for rent in Seven Oaks, CA | Houses for rent in Seven Oaks, CA | Homes for sale in Seven Oaks, CA
Known for: Historic charm, eclectic vibe, and walkable streets
Oleander/Sunset, located just south of downtown Bakersfield, is a historic neighborhood known for its charming older homes and tree-lined streets. The area has an eclectic, artistic vibe, with residents enjoying its proximity to downtown, local parks, and a variety of shops and cafes. The community’s small-town feel, mixed with its urban convenience, makes Oleander/Sunset a unique option for those looking to live near the heart of the city while maintaining a quieter, suburban lifestyle.
Population: 15,000
Median home sale price: $270,000
Oleander/Sunset transportation scores: Walk Score 70, Bike Score 57, Transit Score 36
Apartments for rent in Oleander/Sunset, CA | Houses for rent in Oleander/Sunset, CA | Homes for sale in Oleander/Sunset, CA
Known for: Community parks, schools, and friendly vibe
Tevis Ranch is a peaceful residential neighborhood in southwest Bakersfield, popular for its community parks, top-rated schools, and friendly environment. The area features well-kept homes and beautifully landscaped streets, with amenities like the Tevis Park offering plenty of recreational opportunities. Tevis Ranch has easy access to nearby shopping centers, making it a convenient and desirable location for all individuals.
Population: 12,000
Median home sale price: $432,500
Tevis Ranch transportation scores: Walk Score 20, Bike Score 38
Apartments for rent in Tevis Ranch, CA | Houses for rent in Tevis Ranch, CA | Homes for sale in Tevis Ranch, CA
Known for: Established community, larger homes, and proximity to amenities
Stockdale Estates is an established neighborhood located in west Bakersfield, known for its spacious homes, mature landscaping, and convenient access to local amenities. The neighborhood is home to Stockdale Country Club, a popular spot for golf enthusiasts. Residents enjoy being close to restaurants, shopping, and schools, while the quiet, suburban environment makes it a great place for those looking for more space and tranquility.
Population: 9,000
Average rent for a one-bedroom apartment: $1,800
Median home sale price: $589,000
Stockdale Estates transportation scores: Walk Score 12, Bike Score 40
Apartments for rent in Stockdale Estates, CA | Houses for rent in Stockdale Estates, CA | Homes for sale in Stockdale Estates, CA
Methodology: The suburbs included in this list were selected based on their overall popularity, determined by search trends and housing demand in the Bakersfield area. Average rent and home sale price data were sourced from Redfin and Rent.com as of October 2024. Transportation data, including Walk Scores, Bike Scores, and Transit Scores, was sourced from Walk Score.
When people think of Honolulu, they often picture its vibrant city center and famous beaches, but the true essence of living in Honolulu extends beyond the urban core. The suburbs of Honolulu are diverse residential areas that offer a quieter, more laid-back lifestyle while still providing easy access to the city’s world-class amenities and natural beauty. These Honolulu suburbs are spread across various parts of the island, each with its own unique character and charm.
In this ApartmentGuide article, we’ll explore some of the most notable Honolulu suburbs—from the scenic coastal communities to the lush inland retreats—highlighting key aspects such as population, average rent, and what makes each area stand out. Whether you’re searching for the perfect apartment in Honolulu or curious about the different Honolulu neighborhoods, let’s discover the best places around Honolulu to call home.
Before we dive into the top Honolulu suburbs, let’s cover how much it costs to live in Honolulu. The overall cost of living in Honolulu is about 85% higher than the national average. Housing is a major factor, with the median sale price for a home in Honolulu at $607,500, which is significantly higher than the national average of $432,657. Rent follows a similar trend, with the average rent for a one-bedroom apartment in Honolulu at $2,050, which is about 35% more than the national average of $1,514.
While some suburbs around Honolulu offer more affordable options, others can be just as expensive, if not more. Here, we’ll explore a range of top suburbs, providing different lifestyle and housing opportunities depending on your budget and preferences.
Known for: Beach town vibe, outdoor activities, and laid-back lifestyle
Kailua, located on Oahu’s windward coast, is a picturesque beach town known for its stunning white-sand beaches and laid-back atmosphere. Kailua Beach and Lanikai Beach are popular spots for water sports, including kayaking, paddleboarding, and snorkeling. The town also offers a charming downtown area with local boutiques, restaurants, and cafes. Housing in Kailua ranges from beachfront properties to cozy homes tucked into the hills, making it a desirable location for those seeking a coastal lifestyle close to nature.
Population: 38,000
Median home sale price: $1,425,000
Kailua transportation scores: Walk Score 40, Bike Score 44, Transit Score 35
Apartments for rent in Kailua, HI | Houses for rent in Kailua, HI | Homes for sale in Kailua, HI
Known for: Marina lifestyle, outdoor adventures, and suburban luxury
Hawaii Kai is an affluent suburb located in southeast Honolulu, known for its marina, luxury homes, and outdoor activities. Residents of Hawaii Kai enjoy a wide range of water-based activities, including boating, fishing, and snorkeling. The area also offers beautiful hiking trails, such as the famous Koko Head Crater Trail, which provides panoramic views of the island. Hawaii Kai’s mix of suburban tranquility and outdoor adventure makes it a popular choice for those seeking an upscale, active lifestyle.
Population: 30,000
Median home sale price: $1,350,000
Hawaii Kai transportation scores: Walk Score 22, Bike Score 21, Transit Score 35
Apartments for rent in Hawaii Kai, HI | Houses for rent in Hawaii Kai, HI | Homes for sale in Hawaii Kai, HI
Known for: Growing community, friendly environment, and new developments
Kapolei, often referred to as Oahu’s “Second City,” is a rapidly growing suburb located on the island’s west side. The area has seen significant development in recent years, with new housing communities, shopping centers, and schools popping up. Kapolei offers a welcoming environment with access to parks, recreational facilities, and beaches nearby. Its continued growth makes it an attractive location for those seeking more space while still being connected to Honolulu’s amenities.
Population: 45,000
Median home sale price: $750,000
Kapolei transportation scores: Walk Score 48, Bike Score 45
Apartments for rent in Kapolei, HI | Houses for rent in Kapolei, HI | Homes for sale in Kapolei, HI
Known for: Central location, community-oriented atmosphere, and local amenities
Mililani is a centrally located suburb in Honolulu County, known for its well-planned neighborhoods and strong sense of community. The area offers a range of amenities, including parks, pools, shopping centers, and schools, making it a popular place for those looking for a suburban lifestyle with all the conveniences. Mililani’s central location on the island provides easy access to both Honolulu and the North Shore, making it ideal for those who want to explore all that Oahu has to offer.
Population: 28,000
Average rent for a one-bedroom apartment: $2,100
Median home sale price: $610,000
Mililani transportation scores: Walk Score 35, Bike Score 30, Transit Score 36
Apartments for rent in Mililani, HI | Houses for rent in Mililani, HI | Homes for sale in Mililani, HI
Known for: Beachfront living, golf courses, and growing developments
Ewa Beach is a rapidly developing suburb on Oahu’s west side, known for its scenic coastline, golf courses, and new housing developments. The area offers a blend of old and new, with established neighborhoods alongside modern communities. Ewa Beach is also home to several golf courses, including the Hawaii Prince Golf Club, making it a popular spot for golf enthusiasts. The area’s beachside location and access to amenities make it an attractive option for those seeking a suburban, beachfront lifestyle.
Population: 16,000
Median home sale price: $550,000
Ewa Beach transportation scores: Walk Score 47, Bike Score 55
Apartments for rent in Ewa Beach, HI | Houses for rent in Ewa Beach, HI | Homes for sale in Ewa Beach, HI
Methodology: The suburbs included in this list were selected based on their overall popularity, determined by search trends and housing demand in the Honolulu area. Average rent and home sale price data were sourced from Redfin and Rent.com as of October 2024. Transportation data, including Walk Scores, Bike Scores, and Transit Scores, was sourced from Walk Score.
Maryland may be known for its charming coastal cities along the Atlantic Ocean and Chesapeake Bay, but the state is also home to rolling mountains like the Appalachian range. With quaint mountain towns to match the landscape, there are plenty of reasons to consider moving to Maryland’s wilderness.
To help you get started, Rent. has curated a list of the best mountain towns in Maryland to call home. Whether you’re looking for a village with history, a mid-sized city with amenities, or a town near a national park, there’s a spot for every lifestyle on our list. Read on to find out what mountain town you want to move to.
Mountain range: South Mountain
Average rent price: $1,463
Population: 3,490
Houses for rent in Boonsboro, MD
Apartments for rent in Boonsboro, MD
Homes for sale in Boonsboro, MD
Boonsboro is situated at the base of South Mountain, surrounded by several major parks. Some of the popular parks include Greenbrier State Park, popular for swimming and fishing, Greenbrier State Park featuring nature trails, and White Rocks Trail Overlook which has a variety of hiking areas. This small town, with a population of just under 3,500, is perfect for those who love the outdoors.
Boonsboro is a treasure trove of history, home to attractions such as the Washington Monument State Park, which predates the more famous monument in D.C. and is part of the Appalachian Trail. You can also check out historic spots like Crystal Grottoes Caverns, Boonsboro Historical Society, and South Mountain State Battlefield. Boonsboro’s quaint downtown area with a variety of local shops and eateries adds to its charm.
Mountain range: Appalachian Mountains
Average rent price: $3,400
Population: 5,610
Houses for rent in Brunswick, MD
Apartments for rent in Brunswick, MD
Homes for sale in Brunswick, MD
Brunswick is located within the breathtaking Appalachian Mountains and near Gathland State Park. Residents enjoy access to a variety of outdoor activities, including hiking, fishing, and camping. You can check out spots like the Rivers Edge Trails, Catoctin Creek Park & Nature Center, the Gathland Trailhead, and Weverton Cliffs a gorgeous lookout along the Appalachian Trail.
Brunswick’s rich history is evident in its charming downtown area, which features antique shops, local dining options, and the Brunswick Railroad Museum, highlighting the town’s railroad heritage. You can also explore the riverfront area, where you’ll find views of the Potomac River. Its proximity to natural attractions and its vibrant community make Brunswick a top choice for those seeking a mountain town lifestyle.
Mountain range: Allegheny Mountains
Average rent price: $942
Population: 19,240
Houses for rent in Cumberland, MD
Apartments for rent in Cumberland, MD
Homes for sale in Cumberland, MD
Cumberland offers a unique blend of natural beauty and history, set against the backdrop of the Allegheny Mountains. The town’s location provides easy access to outdoor activities such as hiking, biking, and exploring the scenic beauty of the surrounding mountains. It’s close to areas like Rocky Gap State Park, Helmstetter’s Curve, and Zumbrun Overlook.
Cumberland is known for its vibrant downtown area, which features the Western Maryland Scenic Railroad, historical sites like George Washington’s Headquarters in Riverside Park, and museums like the Allegany Museum. There are also plenty of cafes, restaurants, and local shops throughout downtown and the waterfront area. Cumberland’s rich heritage and welcoming community make it an attractive place for residents seeking a historic mountain town.
Mountain range: Appalachian Mountains
Average rent price: $1,883
Population: 16,000
Houses for rent in Elkton, MD
Apartments for rent in Elkton, MD
Homes for sale in Elkton, MD
Elkton is situated within the Appalachian Mountains along the border with Delaware. Elkton’s proximity to natural attractions, including nearby trails and waterways, makes it a great location for those who enjoy outdoor adventures. Be sure to explore places like Elk River Park, Elk Neck State Forest, and Hatchery Park.
Home to about 16,000 residents, Elkton has a blend of small-town charm and modern conveniences. The town is known for its beautiful parks, local boutiques, and eateries that cater to a variety of tastes. Elkton also has a variety of historic places and landmarks like the Hollingsworth House-Fort Hollingsworth Historic Site, the Elkton Music Hall, and The Historical Society of Cecil County.
Mountain range: Appalachian Mountains
Average rent price: $2,473
Population: 69,940
Houses for rent in Frederick, MD
Apartments for rent in Frederick, MD
Homes for sale in Frederick, MD
Fifth on our list is Frederick, located in the Appalachian Mountains near state parks like Gambrill State Park. This park is well-known for its scenic overlooks, biking, hiking, and horseback riding trails, fishing areas, and campgrounds. You can also enjoy the outdoors at spots like Monocacy National Battlefield, Frederick Municipal Forest, and Catoctin Mountain Park.
With a population of 69,940, Frederick is celebrated for its vibrant arts scene, historic architecture, and diverse culinary offerings. This city is home to a wide range of historic landmarks like the Schifferstadt Architectural Museum, the National Museum of Civil War Medicine, Heritage Frederick, and the Rose Hill Manor Park & Museums. Frederick’s bustling downtown area, filled with shops, restaurants, and landmarks, combined with its scenic surroundings, makes it a top choice.
Mountain range: Appalachian Mountains
Average rent price: $1,916
Population: 8,260
Houses for rent in Frostburg, MD
Apartments for rent in Frostburg, MD
Homes for sale in Frostburg, MD
Frostburg is another gem within the Appalachian Mountains, located about 8 miles west of Cumberland. The town’s location is perfect for those who love winter sports, hiking, and enjoying the great outdoors. Whether you visit St. John’s Rock ORV Trail, Dans Rock Overlook, Dans Mountain Wildlife Management Area, or New Germany State Park, there are plenty of places to check out in and around Frostburg.
Frostburg’s downtown area is a blend of historic charm and modern conveniences, with local shops, cafes, and entertainment options. This town is a hub for students and outdoor enthusiasts alike, thanks to Frostburg State University and its proximity to natural attractions. Frostburg’s community spirit and scenic beauty make it an appealing choice for anyone looking to experience mountain town living.
Mountain range: Allegheny Mountains
Average rent price: $1,119
Population: 1,760
Houses for rent in Oakland, MD
Apartments for rent in Oakland, MD
Homes for sale in Oakland, MD
Oakland is a hidden treasure within the Allegheny Mountains. A gateway to Herrington Manor State Park and Garrett State Forest, these parks are great for hiking, fishing, and camping. The town’s historic downtown area provides a glimpse into its past, with well-preserved buildings and local businesses that add to its charm. Some historic landmarks include the Oakland B & O Railroad Museum and the Garrett County Historical Society Museums. Oakland’s community is tight-knit and welcoming, making it an ideal place for those looking to escape the hustle and bustle of city life.
Mountain range: Appalachian Mountains
Average rent price: $2,533
Population: 4,150
Houses for rent in Sykesville, MD
Apartments for rent in Sykesville, MD
Homes for sale in Sykesville, MD
Sykesville, set within the Appalachian Mountains, offers a blend of small-town charm and natural beauty. It’s a well-known Baltimore suburb, known for its proximity to Piney Run Park, Patapsco Valley State Park, and Liberty Reservoir. These spots are great for hiking, picnicking, and enjoying the water.
The town features a variety of local shops, restaurants, and parks, alongside landmarks like the Sykesville Historic District and Freedom Park. Sykesville’s proximity to larger cities, combined with its scenic setting, provides residents with the best of both worlds. The town’s commitment to preserving its historical character, while also embracing the future, makes Sykesville a great mountain town to live in.
Mountain range: Appalachian Mountains
Average rent price: $1,200
Population: 1,960
Houses for rent in Williamsport, MD
Apartments for rent in Williamsport, MD
Homes for sale in Williamsport, MD
Williamsport is located near the Appalachian Mountains, north of the Chesapeake and Ohio Canal National Historical Park. Williamsport’s proximity to the historical park provides easy access to outdoor activities such as hiking, biking, and kayaking. Other outdoor spaces to check out include Williamsport C&O Canal Trail, Williamsport Park, and McMahon’s Mill Recreation Area.
The town’s downtown area is home to a variety of local businesses and restaurants, adding to its charm. You can also find a variety of historic landmarks like Canal Lockhouse 44, The Historic Springfield Barn, the C&O Canal Lock, and Williamsport’s Banking Mansion. With its small-town feel combined with outdoor recreational opportunities, make sure to add Williamsport to your list.
Note, this list is not comprehensive of all the mountain towns in Maryland. Towns must have average rental data to be included on the list. Average rental data from Rent.com during September 2024. Population data is sourced from the United States Census Bureau.
Source: rent.com
With over 20 years of experience as a realtor and real estate investor, I’ve been tracking housing report patterns closely, and today’s data reveals some interesting developments that we should all pay attention to. In this post, I’ll cover my take on the housing market and what may be in store for us over the next few months.
The national active listing count has been steadily climbing throughout 2024, though it remains significantly below pre-COVID levels. While this increase might concern some market watchers, it’s important to note that:
One of the most surprising developments in the September report is the unusual uptick in new listings. Typically, new listings decrease during this time of year, but we’re seeing an increase that breaks from historical patterns. This could be related to:
Residential-detached homes for sale in my market.
The relationship between Fed rates and mortgage rates continues to be complex:
Rental Property Cash Flow Calculator
Despite increased inventory, the days-on-market metric remains lower than pre-COVID levels, indicating continued market strength. This metric shows:
The median listing price is showing typical seasonal patterns:
Here’s a view of residential-detached house prices in my market from 2014 until now.
The new construction data provides valuable forward-looking indicators:
Recent data shows interesting developments in housing occupancy:
Is There Really a Record Number of Houses Being Built Right Now?
Based on current data and historical trends, several key factors suggest continued market stability:
While we’re seeing some unusual patterns in new listings and inventory, the fundamental market indicators remain strong. The combination of limited supply, steady demand, and population growth continues to support market stability.
As we monitor these trends, it’s crucial to remember that short-term fluctuations are normal in real estate markets, and the overall structural factors supporting housing demand remain intact.
Where do you think we’ll be in a few months? Let me know in the comments below!
Source: investfourmore.com