Our experts answer readers’ home-buying questions and write unbiased product reviews (here’s how we assess mortgages). In some cases, we receive a commission from our partners; however, our opinions are our own.
After moderating somewhat in June, mortgage rates have spiked back up this month. Average 30-year mortgage rates are now the highest they’ve been since November 2022, when they topped 7% for the first time since 2002, according to Freddie Mac data. Currently, this rate is hovering in the 6.9% to 7% range.
Rates are up across the board, with some ARM rates and 30-year refinance rates spiking above 7%. However, FHA rates are currently still well below 6%, offering a bit more affordability for FHA borrowers.
“Surprisingly resilient” has been the phrase most commonly used to describe both the labor market and the larger economy, and this resilience is what’s keeping mortgage rates up. On Friday, the US Bureau of Labor Statistics released June’s jobs report. The report showed that while the labor market is cooling, it’s still running relatively hot, adding 209,000 jobs in June.
While a strong labor market is generally a good thing, there’s currently more jobs available than there are workers to fill them. This mismatch can be good for wage growth but bad for inflation, which is why the Federal Reserve has been watching this area of the economy so closely. Until the labor market becomes more balanced, the Fed is likely to keep hiking the federal funds rate. This will keep mortgage rates elevated.
The good news is that the economy is cooling, albeit slowly. Most major forecasts expect rates to recede at some point in the second half of 2023, which means we should start to see rates fall very soon.
Current Mortgage Rates
Mortgage type
Average rate today
This information has been provided by
Zillow. See more
mortgage rates on Zillow
Real Estate on Zillow
Current Refinance Rates
Mortgage type
Average rate today
This information has been provided by
Zillow. See more
mortgage rates on Zillow
Real Estate on Zillow
Mortgage Calculator
Use our free mortgage calculator to see how today’s mortgage rates would impact your monthly payments. By plugging in different rates and term lengths, you’ll also understand how much you’ll pay over the entire length of your mortgage.
Mortgage Calculator
$1,161 Your estimated monthly payment
Total paid$418,177
Principal paid$275,520
Interest paid$42,657
Paying a 25% higher down payment would save you $8,916.08 on interest charges
Lowering the interest rate by 1% would save you $51,562.03
Paying an additional $500 each month would reduce the loan length by 146 months
Click “More details” for tips on how to save money on your mortgage in the long run.
30-year Fixed Mortgage Rates
The current average 30-year fixed mortgage rate is 6.81%, according to Freddie Mac. This is an increase from the previous week.
The 30-year fixed-rate mortgage is the most common type of home loan. With this type of mortgage, you’ll pay back what you borrowed over 30 years, and your interest rate won’t change for the life of the loan.
The lengthy 30-year term allows you to spread out your payments over a long period of time, meaning you can keep your monthly payments lower and more manageable. The trade-off is that you’ll have a higher rate than you would with shorter terms or adjustable rates.
15-year Fixed Mortgage Rates
The average 15-year fixed mortgage rate is 6.24%, up from the prior week, according to Freddie Mac data.
If you want the predictability that comes with a fixed rate but are looking to spend less on interest over the life of your loan, a 15-year fixed-rate mortgage might be a good fit for you. Because these terms are shorter and have lower rates than 30-year fixed-rate mortgages, you could potentially save tens of thousands of dollars in interest. However, you’ll have a higher monthly payment than you would with a longer term.
When Will Mortgage Rates Go Down?
Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Though rates had initially been trending down this year, they’ve since ticked back up.
As inflation starts to come down, mortgage rates will recede somewhat as well. If we experience a recession, rates may drop a little faster. But average 30-year fixed rates will likely remain somewhere in the 6% to 7% range throughout 2023.
For homeowners looking to leverage their home’s value to cover a big purchase — such as a home renovation — a home equity line of credit (HELOC) may be a good option while we wait for mortgage rates to ease. Check out some of our best HELOC lenders to start your search for the right loan for you.
A HELOC is a line of credit that lets you borrow against the equity in your home. It works similarly to a credit card in that you borrow what you need rather than getting the full amount you’re borrowing in a lump sum. It also lets you tap into the money you have in your home without replacing your entire mortgage, like you’d do with a cash-out refinance.
Current HELOC rates are relatively low compared to other loan options, including credit cards and personal loans.
How Do Fed Rate Hikes Affect Mortgages?
The Federal Reserve has been increasing the federal funds rate this year to try to slow economic growth and get inflation under control. So far, inflation has slowed, but it’s still above the Fed’s 2% target rate.
Mortgage rates aren’t directly impacted by changes to the federal funds rate, but they often trend up or down ahead of Fed policy moves. This is because mortgage rates change based on investor demand for mortgage-backed securities, and this demand is often impacted by how investors expect Fed hikes to affect the broader economy.
As inflation starts to come down, mortgage rates should, too. But the Fed has indicated that it’s watching for sustained signs of slowing inflation.
Our experts answer readers’ home-buying questions and write unbiased product reviews (here’s how we assess mortgages). In some cases, we receive a commission from our partners; however, our opinions are our own.
After moderating somewhat in June, mortgage rates have spiked back up this month. Average 30-year mortgage rates are now the highest they’ve been since November 2022, when they topped 7% for the first time since 2002, according to Freddie Mac data. Currently, this rate is hovering in the 6.9% to 7% range.
Rates are up across the board, with some ARM rates and 30-year refinance rates spiking above 7%. However, FHA rates are currently still well below 6%, offering a bit more affordability for FHA borrowers.
“Surprisingly resilient” has been the phrase most commonly used to describe both the labor market and the larger economy, and this resilience is what’s keeping mortgage rates up. On Friday, the US Bureau of Labor Statistics released June’s jobs report. The report showed that while the labor market is cooling, it’s still running relatively hot, adding 209,000 jobs in June.
While a strong labor market is generally a good thing, there’s currently more jobs available than there are workers to fill them. This mismatch can be good for wage growth but bad for inflation, which is why the Federal Reserve has been watching this area of the economy so closely. Until the labor market becomes more balanced, the Fed is likely to keep hiking the federal funds rate. This will keep mortgage rates elevated.
The good news is that the economy is cooling, albeit slowly. Most major forecasts expect rates to recede at some point in the second half of 2023, which means we should start to see rates fall very soon.
Current Mortgage Rates
Mortgage type
Average rate today
This information has been provided by
Zillow. See more
mortgage rates on Zillow
Real Estate on Zillow
Current Refinance Rates
Mortgage type
Average rate today
This information has been provided by
Zillow. See more
mortgage rates on Zillow
Real Estate on Zillow
Mortgage Calculator
Use our free mortgage calculator to see how today’s mortgage rates would impact your monthly payments. By plugging in different rates and term lengths, you’ll also understand how much you’ll pay over the entire length of your mortgage.
Mortgage Calculator
$1,161 Your estimated monthly payment
Total paid$418,177
Principal paid$275,520
Interest paid$42,657
Paying a 25% higher down payment would save you $8,916.08 on interest charges
Lowering the interest rate by 1% would save you $51,562.03
Paying an additional $500 each month would reduce the loan length by 146 months
Click “More details” for tips on how to save money on your mortgage in the long run.
30-year Fixed Mortgage Rates
The current average 30-year fixed mortgage rate is 6.81%, according to Freddie Mac. This is an increase from the previous week.
The 30-year fixed-rate mortgage is the most common type of home loan. With this type of mortgage, you’ll pay back what you borrowed over 30 years, and your interest rate won’t change for the life of the loan.
The lengthy 30-year term allows you to spread out your payments over a long period of time, meaning you can keep your monthly payments lower and more manageable. The trade-off is that you’ll have a higher rate than you would with shorter terms or adjustable rates.
15-year Fixed Mortgage Rates
The average 15-year fixed mortgage rate is 6.24%, up from the prior week, according to Freddie Mac data.
If you want the predictability that comes with a fixed rate but are looking to spend less on interest over the life of your loan, a 15-year fixed-rate mortgage might be a good fit for you. Because these terms are shorter and have lower rates than 30-year fixed-rate mortgages, you could potentially save tens of thousands of dollars in interest. However, you’ll have a higher monthly payment than you would with a longer term.
When Will Mortgage Rates Go Down?
Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Though rates had initially been trending down this year, they’ve since ticked back up.
As inflation starts to come down, mortgage rates will recede somewhat as well. If we experience a recession, rates may drop a little faster. But average 30-year fixed rates will likely remain somewhere in the 6% to 7% range throughout 2023.
For homeowners looking to leverage their home’s value to cover a big purchase — such as a home renovation — a home equity line of credit (HELOC) may be a good option while we wait for mortgage rates to ease. Check out some of our best HELOC lenders to start your search for the right loan for you.
A HELOC is a line of credit that lets you borrow against the equity in your home. It works similarly to a credit card in that you borrow what you need rather than getting the full amount you’re borrowing in a lump sum. It also lets you tap into the money you have in your home without replacing your entire mortgage, like you’d do with a cash-out refinance.
Current HELOC rates are relatively low compared to other loan options, including credit cards and personal loans.
How Do Fed Rate Hikes Affect Mortgages?
The Federal Reserve has been increasing the federal funds rate this year to try to slow economic growth and get inflation under control. So far, inflation has slowed, but it’s still above the Fed’s 2% target rate.
Mortgage rates aren’t directly impacted by changes to the federal funds rate, but they often trend up or down ahead of Fed policy moves. This is because mortgage rates change based on investor demand for mortgage-backed securities, and this demand is often impacted by how investors expect Fed hikes to affect the broader economy.
As inflation starts to come down, mortgage rates should, too. But the Fed has indicated that it’s watching for sustained signs of slowing inflation.
As the pandemic shut down office life in Los Angeles’ downtown financial district, Claude Cognian tried to keep his gastropub Public School 213 open. But the evacuation of white-collar workers made way for an influx of homeless people and drug users — and more than a few troublemakers striding in the front door.
“It was hard to keep hostesses at the door, because they got scared,” said Cognian, chief executive of the restaurant’s parent company, Grill Concepts Inc.
Three break-ins cost as much as $12,000 each time just to repair the windows, all while the bottom line was cratering in the absence of the office employees who used to gather for lunch and after-work drinks. With sales down 75% from pre-pandemic days, his company closed the downtown gastropub in August and is not planning to return.
“Our bet was that downtown was going to come back, and it hasn’t,” Cognian said.
For decades the Los Angeles financial district was the beating heart of downtown, the corporate muscle that gave the city of sprawl a soaring glass skyline. But the pandemic and the wave of remote work hollowed out its skyscrapers and helped shut many restaurants and businesses that relied on crowds of workers. Though the neighborhood shows signs of recovery, few expect it to return to being the bustling hive of suits and ties that it was.
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To many insiders — the urban planners, real estate developers and business owners with interests in it — the area will recover only if its identity grows more textured than a zone of white-collar office space.
Desirable office addresses were already spreading beyond the financial district before the pandemic, as downtown experienced a renaissance in housing, art and entertainment on blocks previously shunned by investors and residents.
To the south, billions of dollars were spent improving the blocks around Crypto.com Arena with hotels, housing and entertainment venues. Obsolete century-old commercial and industrial buildings to the east were renovated into desirable housing and fashionably unconventional offices. Billions more were spent north on Bunker Hill where the Music Center including Walt Disney Concert Hall and office skyscrapers have been joined by museums, apartments and a high-rise hotel.
The housing boom drew residents to the financial district as well, and that has kept it from turning into a ghost town.
But for the area to truly come back to life, many say it will need to follow the path of Lower Manhattan. The financial capital of New York faced an exodus after 9/11, but city officials and investors staved it off by making it a place of more diverse uses. It is still an office district but is far more lively than it used to be since it also became a residential neighborhood with more shops, restaurants, parks and hotels than it had before the attacks. A performing arts center will open in September.
“Cities evolve. That’s what they do,” said downtown L.A. business representative Nick Griffin. “From natural disasters, wars and pandemics. They evolve with market changes, customer preferences and cultural shifts. Downtown has evolved pretty dramatically over the last 20 years and the next five or so are going to be very interesting.”
Many companies have returned to their offices, but on a limited basis as their employees work some days from home. “For Lease” signs clutter building fronts, tacked over restaurants and bars that once served lively hordes of office workers. Graffiti marks windows.
At Public School 213, the chairs are stacked neatly on tables as if it just closed for the night. Other former restaurants have been gutted by their landlords. Sidewalks are quiet, sometimes eerily so.
Downtown’s centers of gravity have shifted numerous times since its days as a remote Spanish pueblo.
The plaza by Olvera Street near the Los Angeles River was el centro until the late 19th century. When the railroads arrived in the American era, the business elite shifted the commercial district south from the plaza toward 1st Street in the Anglo section of the racially divided city, said Greg Fischer, an expert on the history of downtown who worked on planning matters for former City Councilwoman Jan Perry. Main, Spring, Broadway and Hill streets became the business hub.
In the early 20th century, elite social clubs such as the Jonathan Club, the California Club and the Los Angeles Athletic Club erected new buildings on the west side of downtown where property was relatively cheap. Soon the rooming houses, small apartment buildings and ramshackle Victorian homes there gave way. Richfield and other oil companies headquartered there, the seeds of today’s financial district.
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In “the Jetsons era,” as Fischer described the 1960s, corporate leaders viewed the Spring Street-centered office district as increasingly obsolete and passé and moved to newer buildings in the financial district. Downtown lost a lot of itslifeblood during that time, he said.
“In the years after World War II, downtown was a shopping, office and entertainment area,” Fischer said. “By the 1960s the office component had shifted west, most entertainment went to suburbs and housing just evaporated.”
Among the big businesses with offices in the west were the Richfield, Union, Signal, National and Superior oil companies. Pacific Mutual Life Insurance Co. was headquartered there and Bank of America had a big presence.
The boundaries of the financial district are not officially outlined, but property brokerage CBRE defines it as the office center south of Bunker Hill and 4th Street, flanked on the west by the 110 Freeway and on the east by Hill Street and extending south to 8th Street.
By the 1980s, much of downtown was moribund; buildings that once thrummed with commerce were dilapidated and vacant or underused. There were pockets of vibrancy, notably the Jewelry District and a Latino-centric shopping zone that emerged among aging buildings along Broadway in the Historic Core. The Civic Center around City Hallremained one of the largest concentrations of public administrative buildings in the country, employing thousands of workers.
But the financial district was the shinythriving part of the city, a high-rise office park for lawyers, bankers and accountants who piled into their cars for a mass exodus at the end of each workday.
To many, the neighborhood felt like a corporate fortress, invisibly walled off from the rest of downtown. Business leaders were painfully aware that downtown L.A. lacked the vibrancy of other big cities because it had so few residents, but was stuck in a chicken-and-egg dilemma: People didn’t want to live there because it lacked restaurants, grocery stores and other typical city-life amenities, but merchants didn’t want to set up shop because few lived there.
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The stalemate began to break around 2000 with an ordinance that made it easier to redevelop obsolete office buildings into housing. The relocation of the Lakers, Clippers and Kings pro sports teams to the new downtown arena then known as Staples Center brought thousands of sports and music fans and led a wave of development south of the financial district.
Decades of efforts to add rail service and thousands of apartments and condominiums helped create a more vibrant downtown that was taking on the flavor of other big cities before the pandemic.
“All of a sudden people were walking dogs and pushing baby carriages,” architect Martha Welborne said. “New restaurants came in, even destination restaurants that weren’t just for the people who worked downtown or lived there.”
Fortunately for downtown’s future prospects, its apartment towers remain nearly fully occupied. More than 35,000 units were built after 1999, when so few people lived there that downtown didn’t even have a big-chain grocery store.
Three new hotels have recently opened and a 42-story apartment tower will start leasing later this year. Bottega Louie, one of the region’s top-grossing restaurants before it shut down during the pandemic, reopened in 2021. A few blocks away, legendary Beverly Hills steakhouse Mastro’s also opened a seafood restaurant last year near Crypto.com Arena.
And last week, Metro opened its new Regional Connector, a 1.9-mile underground downtown track adding three stations and linking different lines to make travel more seamless.
Though some business owners have abandoned the financial district, others see an opportunity to get in at an affordable price during what they hope is a temporary economic dip.
Restaurateur Prince Riley recently leased a spot on Grand Avenue that was last home to the Red Herring restaurant. He grabbed it because he liked the location and it was already built-out for upscale dining.
“You can see all the love and care that went into this space,” he said. “They were a casualty of COVID.”
Riley and his wife plan to open their restaurant, named Joyce, in July, featuring a raw bar and Southern-style seafood such as crudo and ceviche. They moved into the apartment building upstairs to be close to it.
The couple like being near Bottega Louie, a popular Whole Foods grocery store and the recently opened Hotel Per La, which took over a lavishly refurbished 1920s building last occupied by another hotel that closed early in the pandemic.
“I can see business picking up,” Riley said. “This is an opportunity from a terrible tragedy like COVID. We wouldn’t have had this otherwise.”
A key factor keeping downtown teetering between recovery and a further downward slide appears to be discomfort with the streets and the sense that they are not as safe as they were before the pandemic.
The blocks close to Metro’s underground 7th Street/Metro Center station, where multiple light and heavy rail train lines meet, are among those that have changed the most since the pandemic as the Metro system struggles to combat rampant drug use and serious crimes such as robbery, rape and aggravated assault on its lines.
Thegrowing number of homeless people on the streets has been an issue in other cities too, said Cognian of Public School 213. His company also closed restaurants in Seattle and San Francisco because customers at their urban locations trickled away as unhoused people commandeered the sidewalks.
“Hopefully, we as a city, as a state, find a solution for the homeless,” he said. “If the homeless situation doesn’t get solved in some fashion that allows tourists, office workers and businesses to operate, it’s just going to bring down the area.”
Real estate broker Derrick Moore of CBRE, who specializes in matching restaurant and shop operators with landlords, said leasing of retail space downtown has improved in recent months, especially compared to the dark days of the 2020pandemic shutdown when downtown fell silent.
“It seems like ancient history,” Moore said, “but it was very devastating to one’s psyche.” And to downtown businesses.
In the wake of the COVID shutdown, downtown overall lost more than 100 food and beverage establishments with a combined footprint of more than 1 million square feet, Moore said.
“That’s restaurants, bars and lounges, juice bars, boutique coffee operators and even national brands,” Moore said. “A good portion of those remain vacant.”
Replacement tenants like Joyce restaurant are starting to come in, he said, with leasing and property showings picking up in the first quarter at a “resoundingly” busier pace than early 2022. Moore has taken potential tenants to the empty Public School space, where across the street the failed Standard Hotel just reopened under new management as the Delphi.
Faced with a challenging market, retail landlords have cut their asking rents as much as 50% from pre-COVID prices, Moore said, and more than doubled the amount they are willing to spend on tenant upgrades such as installing restaurant kitchens and restrooms, and providing periods of free rent.
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The financial district also faces a struggle of changing tastes, with many firms bypassing the gleaming skyscrapers that were the height of prestige in the late 20th century in favor of campus-style offices anda more laid-back vibe.
Even legal firms, long a stalwart in the financial district, are turning elsewhere in some cases. One firm established in February recently opted out of putting its office there.
“When we started to look at space it became very clear to us that locating in the financial district was a very different proposition than it used to be,” said Matt Umhofer, a partner at Umhofer, Mitchell & King. “Downtown has changed dramatically, and we wanted to rethink what it means to be a law firm in Los Angeles and let go of preconceived notions of needing to be in the financial district in order to be relevant.”
The fledgling firm opted instead for an office in Row DTLA, a campus of shops, restaurants and offices created out of century-old warehouses near the Arts District, east of the financial center, even though office rents in the Arts District are often higher than they are in the glitzy skyscrapers.
“The short version is, being in the financial district isn’t as cool as maybe it was in the past,” Umhofer said.
The spotty attendance of office workers has changed the character of business centers across the country, said Mark Grinis, leader of consulting firm EY‘s real estate, hospitality and construction practice.
An analysis by EY found that offices are being used at only 25% to 50% of the level they were before the pandemic.
“In some locations, three-quarters of the people that normally would have gone in, didn’t,” Grinis said. “People are not on the subway, ordering sandwiches at lunch or having a drink after work.”
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Vacant offices and storefronts can hinder recovery, he said, because people shy away from empty spaces.
“Three blocks of vacant houses in a residential neighborhood ultimately becomes a negative,” he said. “An office center is not that different.”
The physical appearance of vacancy becomes more alarming when graffiti, litter and grime follow and create a bad “multiplier effect,” Grinis said.
Stopping the spiral starts with making the streets safe and getting homeless residents into better housing, but there are also public policy decisions that could help landlords convert office buildings to housing if they are no longer competitive on the office leasing market.
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And the market has been brutal. Owners of some of downtown’s office high-rises have faced defaults, foreclosures and rushed sales in the face of falling demand, real estate data provider CoStar said.
The owner of two of the financial district’s premier office towers, 777 Tower and Gas Company Tower, said in February that it defaulted on loans tied to the buildings. Other high-rise owners are in similar straits.
In the face of rising vacancy rates, “those defaults could signal pain to come for the 69-million-square-foot downtown L.A. office market,” CoStar said.
Owners of buildings facing foreclosure sometimes don’t have enough money to build out new tenants’ offices, as is customary, which hinders strapped landlords from recovering financially.
Commercial landlords are getting hit on multiple fronts, said Jessica Lall, managing director of the downtown office of CBRE.
“What we’re seeing is a perfect storm when it comes to the office distress in downtown L.A.,” she said.
Loans on large-scale properties are maturing at a time when interest rates are high, making refinancing a challenge, Lall said. There is widespread uncertainty among tenants about how much space they will need to rent in the future if employees work remotely at least some of the time.
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Those issues are compounded by “the general perception around downtown being unsafe,” she said. “All urban centers are grappling with that issue right now.”
The downtown office vacancy rate — the share of total space that is unleased — climbed to 24% in the first quarter, up from 21.1% a year ago, according to CBRE. More empty space is coming, the brokerage said, pushing estimated availability to a daunting 30% as some companies shrink their offices or move away from downtown.
Law firm Skadden, for example, a large longtime tenant in downtown’s Bunker Hill district, has decided to move its offices to Century City .
The landlord of the U.S. Bank Tower, downtown’s tallest office tower at 72 stories, remains bullish on the market in spite of its troubles and recently spent $60 million to make the building more attractive to tenants by adding hotel-like amenities.
“People need offices,” said Marty Burger, chief executive of Silverstein Properties, which owns the tower. “Not every company in every industry needs an office, but the majority of them do.”
Among the reasons for offices are collaboration and education, he said. “How do you mentor the young folks who are coming up in your industry if the older people aren’t in the office for younger people to learn from? There is a whole ecosystem where you need people in an office now.”
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Companies may end up using their offices fewer days of the week than they used to as remote work and shortened schedules grow in popularity, he acknowledged: “Fridays may never be Fridays again.”
Burger says his optimism about downtown L.A.’s potential for improvement has a foundation in New York, where Silverstein built One World Trade Center on the site of the Twin Towers.
“After 9/11, everyone said that no one would ever live there or work there again,” Burger said.
In 2001, the neighborhood had about 20,000 residents and saw little activity after office hours. Now rebuilt, the neighborhood has about 75,000 residents and a greater mix of office tenants including businesses in tech and advertising in what was mostly a banking center before, Burger said.
“It’s a vibrant 24/7 community,” he said.
Many see this as the best future for L.A.’s financial district.
The city’s tight housing market combined with the downturn in office rentals opens the possibility to convert some office buildings into housing or hotels.
More residents and visitors would make the neighborhood more dynamic and better able to support restaurants, shops and nightlife, said Griffin, executive director of the privately funded Downtown Center Business Improvement District, a nonprofit coalition of more than 2,000 property owners.
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“If we trade some office for residential, that’s a good thing.”
The pandemic’s blow to the office market “is an opportunity that none of us ever imagined happening,” Welborne said, “transforming office buildings into residential buildings and reimagining our entire downtown.”
Spokane, WA, is rich in history, natural beauty, and unique attractions. Beyond its well-known features, there are plenty of fascinating and fun facts that make Spokane a great place to explore. From being the birthplace of Father’s Day to hosting the world’s largest 3-on-3 outdoor basketball tournament, Hoopfest, Spokane has a trove of intriguing stories and hidden gems waiting to be discovered.
In this Redfin article, we will delve into some surprising and fun facts about Spokane. So Whether you’re looking to rent an apartment in Spokane or purchase a home in the area, prepare to be entertained and enlightened by what makes this city truly special.
1. The city is named after a Native American Tribe
Spokane derives its name from the Spokane Tribe, an indigenous community that has inhabited the region for centuries. The word “Spokane” comes from the Salish language spoken by the tribe and means “Children of the Sun” or “Sun People.” The Spokane Tribe has a rich cultural heritage and historical significance in the area, and its influence is reflected in the city’s naming. By adopting the name of the tribe, Spokane acknowledges the indigenous roots of the land and pays tribute to the native peoples who have called the region home for generations.
2. Its nickname is the Lilac City
Affectionately known as the “Lilac City,” Spokane’s nickname stems from its long-standing association with the beautiful and fragrant lilac flower. The origin of this nickname can be traced back to the early 20th century when the Spokane Garden Expo showcased an abundance of lilac blooms. Inspired by the sight and aroma of the flowers, locals embraced the nickname “Lilac City” as a symbol of civic pride. Since then, Spokane has continued cultivating its reputation as a city of lilacs, hosting an annual Lilac Festival and Parade, where the community celebrates the blossoming of these vibrant flowers.
3. Spokane Falls is one of the largest urban waterfalls in the US
Spokane Falls holds the distinction of being one of the largest urban waterfalls in the United States. The Spokane River forms the falls as it cascades through large basalt rock formations. The main drop, known as the Upper Falls, measures around 100 feet in height and spans a width of over 500 feet.
4. The city is home to Hoopfest
Spokane is widely recognized as the home of Hoopfest, the largest 3-on-3 outdoor basketball tournament in the world. Every year, the streets of downtown Spokane are transformed into a basketball mecca as thousands of teams gather to participate. Hoopfest attracts players of all ages and skill levels, from amateurs to seasoned veterans. With over 450 courts spread across several city blocks, the tournament spans an impressive distance and showcases the love and passion for basketball that permeates the Spokane community.
5. It is the smallest city to host the World’s Fair
The city holds the distinction of being the smallest city to host a World’s Fair. In 1974, Spokane hosted Expo ’74, a prestigious international exposition recognized by the Bureau International des Expositions (BIE). The fair centered around the theme of environmental preservation and sustainability, focusing on the importance of clean water. The Expo ’74 site, situated along the banks of the Spokane River, was transformed into a sprawling fairground featuring numerous pavilions, exhibits, and attractions. The event not only showcased the natural beauty of the region but also highlighted Spokane’s commitment to environmental awareness and stewardship.
6. Spokane is the birthplace of Father’s Day
Spokane is the birthplace of Father’s Day. Father’s Day was first proposed by Sonora Smart Dodd, a Spokane native, in 1909. Inspired by the newly established Mother’s Day, Sonora sought to honor and recognize the significant role that fathers play in their children’s lives. With the support of local organizations and community leaders, Spokane celebrated the first official Father’s Day on June 19, 1910. The event gained popularity and gradually spread across the country, eventually becoming a nationally recognized holiday in 1972 when President Richard Nixon signed it into law.
7. The city is home to Bing Crosby
Spokane proudly claims Bing Crosby as one of its most famous native sons. Born as Harry Lillis Crosby Jr. in Tacoma, Washington, Crosby grew up in Spokane, where he discovered his passion for music and entertainment. Rising to international stardom, Crosby became one of the most iconic and influential entertainers of the 20th century, with a career that spanned over six decades. Renowned for his smooth baritone voice and charismatic stage presence, Crosby succeeded as a singer, actor, and radio personality. He recorded numerous hit songs, including the timeless holiday classic “White Christmas,” which remains one of the best-selling singles ever.
8. Spokane is home to Gonzaga University
Spokane is home to Gonzaga University, known for its academic excellence and basketball program. Founded in 1887 by Father Joseph Cataldo, an Italian-born Jesuit priest, the university offers various undergraduate and graduate programs. The campus is characterized by its beautiful architecture, blending historic buildings with modern facilities. Gonzaga University’s athletic program, the Gonzaga Bulldogs, has gained prominence in NCAA Division I sports, particularly basketball, where the team has consistently achieved national rankings and made numerous appearances in the NCAA tournament.
Welcome to Tampa, FL, a city renowned for its vibrant culture, stunning waterfront, and idyllic year-round weather. If you’re in the market for a luxury home in this thriving city, get ready to discover an array of exceptional features and amenities that will leave you captivated.
Whether you’re considering living in Tampa or currently looking at homes for sale in the city, Tampa’s luxury real estate market offers a diverse range of lavish homes, each boasting unique attributes that cater to the discerning tastes of potential homebuyers. From waterfront properties with private docks and panoramic views to expansive outdoor living spaces, cutting-edge smart home technologies, and luxurious interiors, this Redfin article unveils the extraordinary features that make luxury homes in Tampa truly stand out. Join us as we delve into the world of luxury home features in Tampa, where your dream residence awaits.
1. Waterfront property
One of the most coveted home features in Tampa is waterfront property. Living on the water offers a unique and desirable lifestyle that perfectly captures the essence of this coastal city. Whether it’s a residence situated directly on the waterfront or one with breathtaking water views, this feature instantly adds a touch of tranquility to any luxury home. Imagine waking up to stunning sunrises over the glistening waves, enjoying the gentle sea breeze from your own backyard, and having easy access to various water activities right from your doorstep.
Folding doors that provide unobstructed water views are a popular feature to create a sense of openness and connection to the natural environment. These expansive doors seamlessly blend indoor and outdoor living spaces, allowing residents to enjoy breathtaking vistas of the surrounding waterways.
2. New or updated homes
While the city embraces its charming historic architecture, there is a growing demand for modern amenities and contemporary design. New or recently updated homes offer the advantage of modern construction techniques, energy-efficient features, and the latest advancements in home technology.
These homes often boast open floor plans, gourmet kitchens with state-of-the-art appliances, luxurious master suites, and upgraded finishes throughout. From sleek finishes to smart home automation systems, every detail is carefully curated to meet the needs and preferences of today’s discerning homebuyers.
3. Boat dock
Another sought-after home feature in Tampa, Florida, is a boat dock with a lift. For those who enjoy boating and water sports, having a private dock with a lift adds convenience, security, and endless opportunities for aquatic adventures. When you’re not using the boat, you can use a lift to safely store your boat out of the water, protecting it from the elements and minimizing maintenance.
4. High-end finishes
In the luxury real estate market, there are several additional features and amenities that can truly elevate a home listing, setting it apart from other properties. High-end finishes, such as unique marble, granite, or quartz, add a touch of luxury to the home. These additional features and amenities not only enhance the aesthetic appeal but also contribute to an elevated living experience.
5. Newly remodeled kitchen
A luxury home feature that is quickly gaining popularity among homebuyers for Redfin Premier listings is a newly remodeled kitchen. In today’s real estate market, the kitchen has evolved into more than just a space for meal preparation—it’s the heart of the home and a focal point for socializing and entertaining.
A newly remodeled kitchen offers a fresh and modern aesthetic, with sleek countertops, high-end appliances, and custom cabinetry that exudes both style and functionality. It provides a seamless blend of form and function, catering to the needs and desires of discerning homeowners. With open-concept layouts, ample storage, and innovative design elements, these remodeled kitchens are perfect for hosting gatherings and creating culinary masterpieces.
6. Pool and spa
One of the quintessential luxury home features in Tampa is a pool and/or spa, often accompanied by a spacious lanai. The city’s warm climate and abundant sunshine make outdoor living a year-round delight, and a pool and spa area serves as a private oasis within your own property. Whether you prefer to take dips in the pool, relax in the spa, or simply bask in the sun on poolside loungers, a pool and spa offers endless opportunities for relaxation and recreation.
The addition of a lanai, a covered outdoor area, provides shade and protection from the elements while allowing you to enjoy the poolside ambiance. It serves as an extension of the living space, perfect for relaxing with a book, entertaining guests, or simply unwinding with family and friends.
7. Gated communities
Homebuyers in Tampa who are seeking exclusivity, security, and a sense of community often gravitate towards gated communities, especially those situated within prestigious golf communities.
A gated entry provides an extra layer of privacy and peace of mind, allowing residents to enjoy a heightened sense of security. Within these gated communities, golf enthusiasts have the advantage of convenient access to meticulously designed golf courses, where they can perfect their swing and indulge in their passion for the sport. Additionally, these communities often boast a range of amenities such as clubhouses, fitness centers, swimming pools, and tennis courts, providing a resort-like lifestyle right at your doorstep.
Top neighborhoods with luxury home features in Tampa
Notable neighborhoods that boast luxury home features include Belleair Beach, Belleair Bluffs, and Belleair Shore, as well as Palm Harbor. These areas are renowned for their exquisite residences and amenities that elevate the standard of luxury living. Bellaire Beach offers an exclusive coastal lifestyle with stunning waterfront properties, pristine beaches, and panoramic views of the Gulf of Mexico. Bellaire Bluffs exudes elegance with its tree-lined streets, upscale homes, and close proximity to boutique shops and fine dining. Bellaire Shores boasts a picturesque setting along the Intracoastal Waterway, offering residents unparalleled waterfront living and access to boating and fishing. Palm Harbor, known for its serene natural beauty and golf course communities, provides a tranquil retreat while still being conveniently located near shopping, dining, and cultural attractions.
Homebuyers are willing to pay premium prices to live in these neighborhoods, and Belleair Shore, in particular, had a median sale price of $5.92 million in December 2022, about 14x the median sale price of in Tampa.
A final note on luxury home features in Tampa
It’s no surprise that proximity to the water is a defining factor of luxury for many homes in Tampa. While it’s common for homes in Pinellas County to be situated on or near the water, what truly adds to the charm and allure is the fact that not all waterfront homes are created equal. The diversity in locations within the county ensures that each property holds its own unique appeal.
Some luxury homes may boast direct waterfront access, offering breathtaking views and easy navigation for boating enthusiasts. Others may be nestled in peaceful inland neighborhoods, where residents can still enjoy the coastal lifestyle and the beauty of nearby waterways. The variety of options means that luxury can be found in different settings, catering to the preferences and desires of discerning homebuyers. Whether it’s the tranquility of a waterfront retreat or the proximity to the water’s edge, Tampa offers a range of options that contribute to the overall charm and exclusivity of luxury living in the area.
A local Redfin Premier agent will provide invaluable insights into the market, including an in-depth understanding of the neighborhoods, pricing trends, and available luxury properties.
After extraordinary home value growth characterized a frenzied housing market in 2017 and 2018, this year’s slowdown felt like a welcome return to normalcy for many in the industry. And Zillow is predicting more of the same in 2020, with the market set to stabilize near historic norms.
Changing
tastes as millennials make up a growing share of home buyers will
impact the market. Homes will get smaller, bold colors and prints
will return to home designs and demand will stay high as more and
more people reach typical home buying age.
Here’s Zillow’s predictions for housing in 2020:
Homes will continue to shrink
The sprawling, suburban homes that Baby Boomers coveted will increasingly become a relic of the past in 2020 and into the next decade as the median square footage of newly built, single-family homes will fall for the fourth time in five years. The typical U.S. home has shrunk by more than 80 square feet since 2015i. Millennials, the largest group of buyers in 2020, are proving to be have much different tastes and lifestyles than their parents’ generation. Many prefer homes in urban areas with an abundance of amenities within walking distance over the mansions in the exurbs that boomers are vacating.
The U.S. will not enter a recession in 2020
As recently as July, half of experts surveyed by Zillow predicted a recession would begin in 2020. However, the U.S. economy has remained resilient to expected headwinds like ongoing trade volatility and the possibility of a stock market retreat. Consumer spending has picked back up – reflecting healthy consumer confidence – job creation is on a steady path and annual wage growth has stayed at or above 3% since October 2018. Economic and home value growth should continue into 2021, although perhaps at a slower pace than in recent years.
Home value and rent growth will be slower and steadier
Home value growth is expected to grow 2.8% from December 2019 to December 2020, according to a survey of more than 100 housing experts and economistsii. That’s down from 4.7% annual growth in October, the latest month for which data is available. Zillow expects rent growth to continue accelerating into the spring, before dipping below 2% by the end of 2020.
Mortgage rates will stay low, keeping housing demand high
Mortgage rates fell markedly in 2019 and are expected to remain low for the bulk of 2020. That will keep demand strong and continue to fuel decent price growth in the nation’s most broadly affordable markets. But low rates don’t help overcome the upfront hurdle of high down payment requirements, pushing buyers in expensive areas to fan out in search of areas they can better afford.
Sales will climb again after a downturn in 2018
For-sale inventory is near historic lows, but that doesn’t mean a dearth of sales. In fact, the low inventory is largely a result of high demand from buyers that snatch up homes as soon as they hit the market. There are more and more potential buyers as the large Millennial generation is reaching peak homebuying age in greater numbers each year, and they are benefiting from low mortgage rates, an increase in new construction permits and technology – such as Zillow Offers and other iBuyers – that is reducing friction in the market.
Color will make a comeback
Goodbye, Hygge. Hello, color! Fun will return to home design in the form of bold prints, lively wallpaper and brightly hued walls. After a decade of Scandinavian modern design that dominated retail and social media feeds as Americans embraced neutrals, minimalism and clutter-free living, expect a shift toward playful, creative design. Look for color to be injected in unexpected ways in kitchen cabinetry and appliances, in lighting fixtures and on interior doors and moldings.
“With the housing market stabilizing from the drama of the price recovery and the slowdown during 2019’s home shopping season, we have a rare moment of calm to reflect on what housing might look like in the year to come,” Zillow’s Director of Economic Research Skylar Olsen said in a statememt. “If current trends hold, then slower means healthier and smaller means more affordable. Yes, we expect a slower market than we’ve become accustomed to the last few years, but don’t mistake this for a buyer-friendly environment – consumers will continue to absorb available inventory and the market will remain competitive in much of the country. But while the national story is a confident one, housing in some manufacturing-heavy markets may see adversity. The struggle could be even more stark, since similarly affordable housing markets with a more balanced job profile may be 2020’s rising stars.”
Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected]
Living in a 1,400-square-foot home, Xiyin Tang and Paul Laskow wanted more space for their growing family. Now, they have it: A 320-square-foot prefab accessory dwelling unit, or ADU, that extends their floor plan while preserving their historic 1936 Streamline Moderne home.
The couple purchased the historic-cultural monument in the Fairfax District for $1.5 million in the summer of 2020 after it had sat on the market for several months.
The three-bedroom, two-bath home was designed by architect William Kesling as a Hollywood hideaway for actor Wallace Beery and was problematic for several reasons, including that it was tenant-occupied and has historic status, which could prove challenging for future renovations. And to top it off, it was small.
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However, small-space living was not a deal breaker for the former New Yorkers, who had rented an 850-square-foot apartment in Dimes Square before moving to an apartment in West Hollywood.
“It was big for two people by New York standards,” says Tang, 35, a professor at UCLA’s School of Law, about the house.
When the couple and their 2-year-old daughter, Catherine, finally moved in, Tang was pregnant with the couple’s second child.
Suddenly, with another baby on the way, the couple worried they couldn’t accommodate visits from their greatly missed parents who lived on the East Coast.
“We felt like we needed more space,” says Tang. “We intended to build something in the back, but the timeline changed when I got pregnant. We needed to build something very quickly.”
Because of the home’s historic status — it was designated a historic-cultural monument in 2018 after a developer purchased it and filed plans to build condos on the site — the couple was required to work with the Cultural Heritage Commission on exterior and interior alterations.
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They loved the home’s Streamline Moderne details and decided to preserve the house with minor changes, including a new roof and kitchen. They added the ADU behind their home on the spacious 7,000-square-foot lot.
Working with Los Angeles-based Cover, which specializes in one-story prefabricated ADUs manufactured in L.A., the couple wanted to install a custom ADU (priced between $275,000 and $295,000, depending on site-specific conditions) before Tang delivered their second daughter, Maggie, in November 2021.
For its part, Cover offers fixed pricing upfront and manages all aspects of the building process. But it could not contain the issues that arose during the pandemic.
“One of the advantages of a prefab ADU is that it can be built more quickly than a traditional ADU,” Tang says. “Unfortunately, we tried to build an ADU at the worst possible time because of COVID. There was a lumber shortage. Permitting took a year. Everything was back ordered.”
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After the permits were finally issued, the ADU was installed on site in 43 days using a panelized building system manufactured in Los Angeles. Seven months later, the permits for occupancy for the ADU were completed in time for Maggie’s first birthday party.
“One thing that is different about our prefab system is that we ship flat-packed panels from our Gardena factory rather than shipping large room-sized parts that require a massive crane,” says Alexis Rivas, co-founder and chief executive of Cover. “Overhead power lines and trees can prevent you from building with a big crane.”
The steel studio comprises an open-plan bedroom, kitchen and living area with a small desk between the kitchen and full-height built-in storage. A bathroom with a walk-in shower faces a stacked washer and dryer that is a hit with guests. A floor-to-ceiling sliding glass door allows easy access to the backyard, and narrow floor-to-ceiling windows look onto the main house and the pool, connecting the two homes. There are also integrated wall-mounted LED lights that add illumination and help keep lighting things simple.
“The main house has a lot of windows, and you can see people coming and going to the back house,” Tang says. “It’s nice to talk to your friends and family through the doors and windows.”
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Tang, who loves to cook, was drawn to Cover because of its high-end kitchen appliances, including an under-counter Sub-Zero refrigerator and a Wolf induction cooktop, oven and hood.
Sitting side by side, the austere square-box ADU, with its warm oak floors and white composite exterior, complements Kesling’s curved walls and ocean liner details.
“The main house is so distinctive,” Rivas says. “I think it’s much better to contrast it than try to match it.”
In an ideal world, one home would be able to accommodate multiple families, but that’s not always possible. Tang says one of the hardest things about moving to L.A. was leaving family. Now, the ADU allows everyone to stay close.
“Our parents have come out to stay with us multiple times,” she says. “The ADU allows us to put them up in the back, and everyone can go their separate ways. Catherine loves going out back and waking up our guests. Recently she went outside early in the morning in her rain boots and umbrella and brought my mom an umbrella to ensure she didn’t get wet. It’s a wonderful image in my mind. It’s so nice to be able to share those moments.”
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“About a third of our customers have put them in for their family members to live in full-time,” says Rivas, who lived in one of Cover’s 450-square-foot ADUs for a year.
Tang and Laskow also have a lot of friends from New York who come to stay in the ADU, which is in use every month. “This past month, we’ve had one friend, their dog and 2-year-old stay for a week — and another couple stay for three weeks,” says Laskow, 35, who heads transportation at online resale site the RealReal. “Our friends from New York always say, ‘Wow, this is so big. This ADU would be a covetable apartment in New York.’”
Despite the many challenges and delays because of COVID-19, the couple is happy with the outcome. Their modern ADU blends well in the historical context and allows them plenty of room to accommodate their family and work-from-home needs.
“It’s such a wonderful change,” Laskow says. “And not just the house. We love having outdoor space. We are so happy we could add the ADU and retain some patio space and grass for the kids.”
Some may joke that “Atlanta is full,” but that’s due to the recent influx of transplants around the country. Recently, Money named Atlanta the best place to live in the U.S. in 2022, so it’s not hard to understand why everyone flew south.
People are starting to notice the Georgia capital as a gem in the region. Steady job growth? You got it. Excellent live music and food? Yes, of course. There are many reasons why you’ll love living in Atlanta. The city knows how to capture the hearts of every visitor since the city is as versatile as it is beautiful. There’s a place for everyone here.
Here are 15 reasons to move to Atlanta.
1. There are plenty of green spaces
Atlanta is a city in a forest, no doubt. The tree canopy around the city will take you by surprise. It’s not just tree-lined streets. There are parks around every corner, shaded sidewalks and the trees embrace even the highway.
Nature is always nearby, with Piedmont Park being smack dab in the middle of Midtown Atlanta. Around the city, you can find walking trails like the Morningside Nature Preserve and Westside Park, or if you’re into kayaking, the Chattahoochee River National Recreation Area.
2. The mild weather is glorious
Winters in Atlanta are very mild, with infrequent snowfall. Bundling up, you can enjoy walks around the city and beat those winter blues without freezing. Additionally, on average, Atlanta gets 217 sunny days a year, and a lot of those are in winter.
Spring is unpredictable, with a few storms. But, the resulting blooms around town are worth the sneeze. The summers get hot and humid (its nickname is “Hotlanta” after all), but there are plenty of patios and spots to cool off, like city pools, the Chattahoochee River and Lake Lanier.
3. It’s truly one of the best food cities
Another reason to love Atlanta is the diversity of dining options within the city. Emerging chefs have set up pop-ups around the city to deliver creative offerings. Restaurants like Georgia Boy, Little Bear and Talat Market are pushing the envelope in the fine dining scene.
You can also find delicious seafood fare at Tio Lucho’s, Atlanta Fishmonger and Kimball House. The bar scene is growing, as well. Food halls, including Ponce City Market, have many options, from Szechuan to Italian to Cuban, all under one roof.
4. Southern hospitality is alive and well
Locals in Atlanta are incredibly warm and inviting. Atlanta is a big city with a small-town heart. Everyone truly knows each other, and you’ll get introduced to a handful of people anywhere you go. It’s easy to make friends and network for work.
The Southern hospitality shows up in friendly hellos everywhere you go and during parties and bars around town. You won’t encounter a stranger here.
5. Arts and culture are everywhere in the city
From the Atlanta Symphony Orchestra to the High Museum of Art to MODA, Atlanta has a thriving arts culture. Local art nonprofits create programs for families and children to boast their knowledge of the arts, music and more. Nonprofits like Living Walls beautify the city by bringing local and abroad artists to create murals around the city.
Other attractions in Atlanta that bring unexpected doses of culture are the Georgia Aquarium, the Center for Puppetry Arts and Zoo Atlanta.
6. Neighborhoods with different personalities
Every neighborhood in Atlanta has its own personality. Family-friendly Candler Park has beautiful tree-lined streets, playgrounds and family restaurants. While Little Five Points reaches a younger demographic with vintage stores, metal bars and new-age stores.
In East Atlanta, you can find nightlife and more millennial-leaning restaurants like Argosy and Banshee. On the Westside, you can find a higher concentration of rooftop bars, fine dining and spots like Ormby’s and The Painted Pin that offer games with food.
7. Access to food from many countries
Buford Highway, a state highway in Atlanta, is a place that just doesn’t exist anywhere else. Immigrant populations started settling along Buford Highway decades ago. Now, there are shopping centers filled with food from all over the world, from Korean to Mexican, Colombian, Chinese and more.
Cultural events also occur in one of the many event spaces in the area. It’s a great place to learn about other cultures and enjoy delicious food.
8. Live music and concerts 24/7
The city that gave you Usher, TLC, Outkast and the Indigo Girls — you can’t go wrong here. The Tabernacle, Variety Playhouse, Coca-Cola Roxy, Buckhead Theatre and The Earl bring all the popular acts to the stage and offer different levels of intimacy for the audience.
You’ll find free concerts at parks around the city and, of course, the world’s biggest stars rocking out at Mercedes-Benz Stadium. An obvious reason to fall in love with Atlanta.
9. Biking the Atlanta BeltLine
The Atlanta BeltLine, a network of multi-use trails, connects the city’s 45 in-town neighborhoods. You’ll find shops, restaurants, breweries and more along the BeltLine.
Each stretch also has a different feel depending on the neighborhood you’re passing. Get a bike or walk it with coffee in hand to enjoy Atlanta’s weather. It’s a great way to explore the city and how it has changed.
10. A mountain escape is just 90 minutes away
Sometimes, you need a break, right? Luckily, the Blue Ridge mountains are just 90 minutes from Atlanta. You can visit Ellijay and Blue Ridge for a quick 48-hour rejuvenating trip to the mountains.
Go apple picking, hike waterfalls, make a fire at your cabin or enjoy the view from a hot tub. The small town also has kitschy shops that are fun to visit and, of course, very good barbecue.
11. A thriving sports culture
Pick your sport — baseball, soccer, basketball or football. Atlanta’s got a fierce fan club for the Atlanta Braves (MLB), the Atlanta Falcons (NFL), the Atlanta Hawks (NBA) and Atlanta United (MLS).
If you’re into college football, both Georgia State University and Georgia Tech have excellent football teams that make home games an enjoyable time.
12. Atlanta is incredibly diverse
More than half of the city’s population identifies as Black, making it one of the largest majority-Black metro areas. It also takes the prize for the second friendliest city for those in the LGBTQ+ community, with an annual Pride Festival in October.
The city also hosts a large immigrant population from Latin America, Asia and Europe, about 14 percent of the total population. Between 2000 and 2010, metro Atlanta’s Latino population doubled.
13. Growing tech scene and job market
There’s a growing number of accelerators, incubators, venture capital firms and events like Atlanta Innovation Week and Venture Atlanta that together fuel a thriving start-up culture.
Headquarters for Microsoft, NCR, Alphabet’s Google and others have cemented their footprint in the city with new offices. The Atlanta Tech Village in Buckhead houses more than 600 startups and continues to nurture emerging founders through networking.
And, don’t forget that it’s home to Fortune 500 companies like Coca-Cola, UPS, Home Depot and Delta Air Lines.
14. There’s rich history around every corner
The Historic Auburn district, the National Center for Civil and Human Rights and the Martin Luther King, Jr. National Historic site offer insights into Atlanta’s robust history and key role during the Civil Rights era.
At the Atlanta History Center, you can learn more about Atlanta’s role in the Civil War through its exhibitions and the Cyclorama, one of the only ones left in the country. Markers around the city also show important battles. In Oakland Cemetery, you can see those fallen during past times.
15. The airport puts the world at your fingertips
The hype around the Atlanta airport is real. Busiest? Definitely. But, as an Atlanta local, you’ll also see it’s one of the most efficient in the world. The airport sees more than 100 million passengers a year.
As a Delta hub, you have the world at your fingertips with a direct flight to many destinations around the world. Don’t miss the many art installations by local artists in the terminals, including a crowd-favorite on Concourse C.
Thinking of moving to Atlanta?
You’ll undoubtedly love Atlanta as much as the locals do once you spend some time in town. From its food and history to its culture and sports teams, there are truly so many reasons to love Atlanta with something for everyone in one of its 45 in-town neighborhoods. Are you ready to make a move to Atlanta?
Living in Tennessee has tons of perks, from enjoying the dynamic music scene in Nashville to the delicious Southern cuisine. But, if bigger, better-known cities like Nashville and Memphis are out of your budget, you may want to turn your attention to Knoxville.
Located in the eastern part of the state along the Tennessee River, this city of around 192,648 has a rich history, higher education and access to the spectacular great outdoors of the nearby Great Smoky Mountains National Park. In the revitalized downtown area, residents and visitors can shop, dine, drink craft beer and explore while surrounded by 19th-century buildings.
As the home of the University of Tennessee’s flagship campus, Knoxville has a distinct college-town feel with active arts and culture. Thanks to the local U of T Volunteers sports teams, collegiate athletics are a big deal here, as well. Finally, being the gateway to the nearby national park and the Appalachian Mountains makes Knoxville a great base camp for outdoor adventures from canoeing to hiking. With all these accolades, it’s no wonder that Knoxville ranks as one of the best places to live in Tennessee.
Furthermore, Knoxville boasts an affordable cost of living that’s appealing to everyone from students to families. With an overall cost of living that’s 16.8 percent lower than the national average, it’s even one of Tennessee’s most affordable major cities to live in. Let’s dive into the different cost of living expenses here to see if Knoxville could be the right fit for your budget and lifestyle.
Knoxville housing prices
At 31.7 percent below the national average, housing prices in Knoxville are among the most affordable in the state. The cost of housing here is down 1.6 percent from last year. In comparison, housing costs in the capital city of Nashville are 4.4 percent higher than the national average.
But, those low housing costs are clearly catching people’s attention. Both the rental and homeowning markets have seen significant growth over the past year. The average monthly rent for a one-bedroom apartment is up 20 percent from last year to $1,310. Two-bedroom rental rates are up 30 percent to $1,474. While rates remain reasonable for now, that could change with the steady upward growth.
If you want to own a house in Knoxville, prices are also on the rise. The median sale price for a house here is $319,900, which is 23.1 percent higher than last year. For context, the national median sale price for a house is $406,074.
Food prices
One of the best parts of living in a Southern state is the fantastic food, and Knoxville is no exception. At restaurants around town, you can enjoy Tenneessee’s signature state barbecue, as well as other Southern staples like rich mac and cheese, collard greens, fried chicken and fried green tomatoes.
Along with the affordable housing, broke college students and budget-savvy families living in Knoxville will find that food costs here are also on the low side. Food prices are 9.6 percent below the national average, which is 1.6 percent higher than last year.
To put those figures into perspective, let’s look at the average food costs of some basic grocery items. Picking up a dozen eggs costs $1.80, a half-gallon of milk is $2.31 and a loaf of bread is $3.80. Proteins come out to $4.19 for a pound of ground beef and $12.98 for a nice steak.
Although Knoxville has some of the lowest food prices compared to the national average, individual prices in different cities are actually pretty similar. In Nashville, whose food prices are 4.4 percent below the national average, a dozen eggs are one cent cheaper at $1.79. A half-gallon of milk goes down to $2.22, but a pound of ground beef is more expensive at $5.33.
Utility prices
Of all the different cost of living categories, the cost of utilities in Knoxville is the closest to the national average, falling just 3.6 percent below. This is just 0.2 percent less than last year.
So, why are utility prices some of the highest cost of living expenses here? During the hot and humid summer months, those air conditioning units definitely get a workout. While winters are chilly and generally mild, it actually can get cold enough for snow to fall. So, Knoxville sees all four seasons, which leads to variations in utility usage throughout the year. But, in general, the average monthly energy bill is around $167.86.
Utility prices in Knoxville are actually among the most expensive in the state. In Nashville, the average monthly energy bill is $138.74 and utility costs are 10.7 percent below the national average. One of the few towns with higher utility prices than Knoxville is Morristown, which is one percent above the national average. There, the average monthly energy bill is $175.45.
Transportation prices
With a low walk score of 30 and an even lower bike score of 28, it’s a good idea to have a car when living in Knoxville. Not only does this make it easier to get around, but you can easily head out of town for adventures in the Great Smoky Mountains National Park and other parts of the scenic and the wild Appalachian Mountains. Some areas like downtown and the college campus are great to explore on foot, though.
Similar to other cost-of-living areas, transportation costs here are lower than the national average at 7.8 percent. This has gone up over the past year by 6.3 percent.
One benefit of having a car in Knoxville and Tennessee, in general, is that there are no toll roads. If you don’t want to use a car to get around Knoxville, you can use the local Knoxville Area Transit (KAT) bus system. Residents have 23 different routes to choose from that crisscross both the city center and branch out to the surrounding areas. A one-way pass costs $1, a full-day pass is $2 and a monthly 30-day pass costs $30.
Residents can also take advantage of the free trolley that offers rides around downtown Knoxville and the University of Tennessee campus area.
Healthcare prices
At 8.4 percent below the national average, healthcare costs in Knoxville are on the more affordable side. Rates here are down 0.4 percent from the previous year. Many other major Tennessee cities are in a similar ballpark. Nashville is 10 percent below the national average and Memphis is 9.4 percent below. Cookeville is 15 percent below the national average, so Knoxville sits nicely in the middle for healthcare costs. The university also has a well-regarded health sciences program.
It’s important to note that since healthcare needs vary by person and insurance, the average costs of different healthcare services in Knoxville won’t always apply to everyone. Your costs are higher or lower depending on your needs. For a rough overview, though, going to the doctor’s office for a check-up is $112. Getting your teeth checked out at the dentist is around $91.60 and having an eye appointment at the optometrist is $91.
For over-the-counter meds like ibuprofen, expect to pay around $9.38. If you need prescription medications, you’ll definitely want the benefit of having insurance since average prescriptions cost around $510.10.
Compared to other Tennessee cities, healthcare costs in Knoxville are pretty middle-ground. A doctor’s visit in Nashville is $99.14. But in Jackson, heading to the doctor’s office will set you back $137.33.
Goods and services prices
Living in a fun city like Knoxville, you want to take advantage of everything it has to offer. That means going out to the movies, meeting friends for pizza or doing other things out on the town. That’s where miscellaneous goods and services come into your monthly budget. This area of expense covers everything from fun activities and goods to necessary goods or services you need on a semi-regular basis like getting a haircut.
Goods and services are one of the lowest cost of living areas in Knoxville, falling 13.7 percent below the national average. This is 0.1 percent lower than last year, so prices have remained pretty consistent over the past year. In comparison, goods and services in Nashville are only 4.5 percent below the national average.
Getting your haircut in Knoxville is around $16 compared to $21.80 in Nashville. Movie tickets come out to $11.06 and taking your clothes to the dry cleaners sets you back $15.45.
Taxes in Knoxville
In Tennessee, the general state sales tax is 7 percent. Counties and cities have the option to add an additional local sales tax on top of the statewide rate. In Knoxville, the sales tax is 9.25. To put that in perspective, say you spend $1,000 throwing a giant backyard barbecue party. You’ll pay an additional $92.50 in sales tax.
Other cities in Tennessee have higher sales taxes, though. The highest sales tax is in Memphis and several other cities at 9.75 percent. The lowest sales tax is 8.5. So, Knoxville sits at a good middle point for sales tax rates.
How much do I need to earn to live in Knoxville?
In order to figure out if you can comfortably afford to live in Knoxville, you need to work backward from your biggest monthly expense. Housing costs like rent are typically your biggest expense each month. To ensure that you still have enough money for other expenses like food and utilities, experts recommend that you only spend 30 percent of your monthly income on rent.
Considering that the average one-bedroom apartment in Knoxville costs $1,299, you’ll need to make $4,330 each month. That comes out to $51,960 annually. The median household income in Knoxville is $41,598, which potentially gives you the option to scope out some of the cooler, more popular neighborhoods to live in.
If you’re unsure what you can afford in rent, use our rent calculator to do some calculations and figure out what fits your budget.
Free things to do
Although Knoxville is overall a fairly affordable place to live, it never hurts to take advantage of fun and free things to do around town.
If you love being outdoors, the Ijams Nature Center on the outskirts of town is a popular option with 10 miles of hiking trails and scenic boardwalks along wetlands and the Tennessee River. The Knoxville Botanical Garden and the University of Tennessee Gardens are other great places to get outdoors and learn about nature for free.
If you prefer more in-town fun, hit up the local farmer’s markets or wander around downtown looking for cool murals. History buffs can dig into genealogy records at the McClung Collection or visit the Marble Springs State Historic Site. The Knoxville Museum of Art also offers free admission to some exhibits.
Living in Knoxville
Whether you’re a sports fan or a nature lover who spends all your time hiking, Knoxville’s blend of mid-sized city fun and outdoor access appeals to a wide range of interests and lifestyles. Top it off with its affordable cost of living and it’s easy to see why everyone from young students to families enjoy the quality of life here.
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of October 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
Known for the Mississippi River, the state of Mississippi has many riverfront and beachfront cities located along the river and the Gulf Coast. With blue waves and sandy coves, boating and fishing, there are countless amazing Mississippi beach towns to check out. Whether you’re moving to the state or hoping to move to the coast, there’s a beach town for you in Mississippi.
But if you’re not sure where to start on your hunt for the best Mississippi beach town, we’re here to help. Redfin has put together a list of 10 Mississippi beach towns from Biloxi to Pascagoula. Let’s explore some of the state’s top beaches, listed in alphabetical order, and you might just be tempted to move there.
#1: Bay St. Louis
Median home price: $352,000 Average rent for a one-bedroom apartment: $975 Bay St. Louis, MS homes for sale Bay St. Louis, MS apartments for rent
First up on our list is Bay St. Louis, located along the Gulf Coast. Living in Bay St. Louis, you can take a riverboat tour, stroll through downtown, check out the Bay St. Louis Historic L & N Train Depot, or spend the afternoon at Bay St. Louis Beach.
#2: Biloxi
Median home price: $246,000 Average rent for a one-bedroom apartment: $937 Biloxi, MS homes for sale Biloxi, MS apartments for rent
Another one of Mississippi’s great coastal towns to consider buying a home in is Biloxi, where there are about 49,200 residents. There are plenty of beaches to visit like Biloxi Beach and Gulfport Scenic Byway. Living in Biloxi, you’ll want to explore the Deer Island Coastal Preserve, check out some of the museums in town, and stop by the Biloxi Lighthouse.
#3: D’Iberville
Median home price: $334,450 D’Iberville, MS homes for sale D’Iberville, MS apartments for rent
Just north of Biloxi is the bayfront town of D’Iberville. With about 13,200 residents living in the city, there are lots of beaches to explore on a sunny Mississippi day like Riverside Park. If you find yourself moving to D’Iberville, make sure to take a fishing charter and check out the charming downtown.
#4: Gautier
Median home price: $178,000 Gautier, MS homes for sale Gautier, MS apartments for rent
Home to beautiful beaches like Graveline Bay Coastal Preserve, there are countless places to spend a beach day in Gautier. With roughly 19,000 residents in Gautier, make sure to also spend the day exploring Mississippi Sandhill Crane National Wildlife Refuge, stop by some of the historic buildings throughout the town, and dine along the riverfront.
#5: Gulfport
Median home price: $215,000 Average rent for a one-bedroom apartment: $835 Gulfport, MS homes for sale Gulfport, MS apartments for rent
The picturesque coastal town of Gulfport has about 72,100 residents, making it another great option to consider if you’re looking to live by water. In Gulfport, you can take a cruise to historic landmarks like Fort Massachusetts, explore the downtown area, enjoy a beach day at Gulfport Beach, and spend the day at Ocean Adventures Marine Park.
#6: Long Beach
Median home price: $292,450 Long Beach, MS homes for sale Long Beach, MS apartments for rent
With roughly 16,860 residents, Long Beach is a great beach town to consider living in. There are lots of activities to do in this coastal city like checking out Long Beach Pier or grabbing a meal along the waterfront, among many other local favorites.
#7: Moss Point
Median home price: $197,500 Moss Point, MS homes for sale Moss Point, MS apartments for rent
Next up is Moss Point, located just north of Pascagoula. With a population of roughly 12,000, Moss Point is an amazing coastal town to live in where you can check out waterfront spots like Pascagoula River Audubon Center. Make sure to spend some time exploring the river views once moving to the area.
#8: Ocean Springs
Median home price: $285,000 Average rent for a one-bedroom apartment: $935 Ocean Springs, MS homes for sale Ocean Springs, MS apartments for rent
You’ll find beautiful beaches in Ocean Springs such as Davis Bayou and Ocean Springs Beach, all perfect for soaking up the sun. Be sure to explore the Davis Bayou Area, check out the local shops and restaurants, or hike along one of the nature trails once living in Ocean Springs.
#9: Pascagoula
Median home price: $136,000 Pascagoula, MS homes for sale Pascagoula, MS apartments for rent
Just about 21,800 people live in this city where you’ll find beaches like Pascagoula Beach Park. Other popular things to do in Pascagoula include checking out some of the museums and historic sites, visiting River Park, or fishing at one of the piers.
#10: Pass Christian
Median home price: $256,000 Pass Christian, MS homes for sale Pass Christian, MS apartments for rent
The seaside city of Pass Christian has a population of 5,900 and there are lots of beaches to spend time outside at like Pass Christian Beach. You’ll also have plenty of activities to explore during your free time, like take a fishing charter.
Note, this list is not comprehensive of all the beach towns in Mississippi. Median home sale price data from the Redfin Data Center during June 2023. Average rental data from Rent.com June 2023. Population data sourced from the United States Census Bureau.