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The vibrant city of Phoenix, AZ, is home to picturesque neighborhoods and stunning landscapes. With an average rent of $1,299 for a one-bedroom apartment, Phoenix offers a variety of neighborhoods to explore. If you’re looking to rent an apartment in Phoenix, you’ll find a range of options. ApartmentGuide has compiled a list of the most expensive Phoenix neighborhoods to help renters find their ideal home.

13 Most Expensive Neighborhoods in Phoenix

From the luxurious Paradise Valley to the trendy streets of Arcadia Lite, there are plenty of popular neighborhoods in Phoenix. Whether you’re looking for an adobe home to rent in Phoenix or wondering where to live in the city, read on to find out what neighborhoods made the list.

1. Evans-Churchill
2. Downtown
3. Desert Ridge
4. Deer Valley
5. Paradise Valley
6. Desert View
7. Central Avenue Corridor
8. Ahwatukee Foothills
9. Arcadia Lite
10. South Phoenix
11. Central City
12. Pierson Place
13. North Gateway

Let’s jump in and see what these neighborhoods have to offer.

1. Evans-Churchill

Average 1-bedroom rent: $1,866
Apartments for rent in Evans-Churchill

Evans-Churchill is the most expensive neighborhood in Phoenix, as the average rent for a one-bedroom unit is $1,866. There are plenty of reasons why this neighborhood draws residents. Evans-Churchill is near attractions like the Phoenix Art Museum and the Arizona Science Center, making it a prime location to explore the city. The area is home to a variety of shopping venues, including The Churchill, a trendy marketplace featuring local vendors and pop-up shops. Dining options abound, with popular spots like Cibo, known for its artisanal pizzas, and The Vig Fillmore, offering a vibrant social scene and upscale pub fare. Renters will enjoy Hance Park, a nearby urban park that hosts cultural events, festivals, and offers green spaces for recreation.

2. Downtown

Average 1-bedroom rent: $1,856
Apartments for rent in Downtown

Downtown is home to many of Phoenix’ top attractions such as the Phoenix Convention Center and Chase Field. Downtown is well-known for its green spaces like Margaret T. Hance Park and the charming shops and cafes along Central Avenue. The average rent for one-bedroom apartments is $1,856, which is about $550 above the city’s average, making it a pricier neighborhood. However, Downtown’s charm and amenities are well worth it. The area offers a variety of shopping experiences, including the CityScape Phoenix complex, which features numerous retail stores and entertainment options. Dining in downtown Phoenix is diverse, with popular spots like The Arrogant Butcher serving American cuisine. Architecturally, downtown Phoenix combines sleek, modern high-rise apartments with charming historic buildings, providing a range of housing options to suit different tastes and lifestyles.

3. Desert Ridge

Average 1-bedroom rent: $1,805
Apartments for rent in Desert Ridge

With an average one-bedroom rent of $1,805, Desert Ridge is the third most expensive neighborhood in Phoenix. This neighborhood has plenty of historic homes in the Spanish Colonial and Ranch styles. Desert Ridge is also near Highway 101, making it a convenient location for commuters. The neighborhood is home to Desert Ridge Marketplace, a premier shopping destination with a variety of retail stores, restaurants, and entertainment options. Dining in Desert Ridge is diverse, with popular spots like The Keg Steakhouse and Yard House offering a range of culinary experiences. Renters will appreciate the numerous parks, including Cashman Park and Reach 11 Sports Complex, which provide ample opportunities for outdoor recreation and sports activities.

4. Deer Valley

Average 1-bedroom rent: $1,716
Apartments for rent in Deer Valley

Deer Valley is the next most expensive neighborhood in Phoenix. This neighborhood is known for its central location near the Deer Valley Petroglyph Preserve and Adobe Dam Regional Park. One of Phoenix’s oldest neighborhoods, it’s no wonder this is a popular location. The area offers convenient shopping options, with the Deer Valley Towne Center featuring popular retail stores and dining establishments. Residents can enjoy diverse dining experiences at local favorites like The Vig, known for its relaxed atmosphere and American fare, and Oregano’s Pizza Bistro, famous for its hearty Italian dishes. Outdoor enthusiasts will appreciate the numerous parks, such as Deer Valley Park, which offers sports facilities, playgrounds, and scenic walking trails.

5. Paradise Valley

Average 1-bedroom rent: $1,710
Apartments for rent in Paradise Valley

Paradise Valley in Phoenix is known for its upscale ambiance and luxurious living, making it an attractive option for renters seeking a high-end lifestyle. The neighborhood offers premium shopping experiences at nearby destinations like Scottsdale Fashion Square, featuring a variety of high-end retailers and designer boutiques. Dining in Paradise Valley is top-notch, with renowned restaurants such as El Chorro, known for its Southwestern cuisine and breathtaking views, and Elements, offering gourmet dishes in an elegant setting. Outdoor enthusiasts will appreciate the proximity to Camelback Mountain and Echo Canyon Park, which provide excellent hiking trails and stunning desert landscapes. Architecturally, Paradise Valley showcases sprawling estates, modern luxury apartments, and elegant townhomes, catering to those who appreciate both style and comfort.

6. Desert View

Average 1-bedroom rent: $1,659
Apartments for rent in Desert View

Next up is Desert View, the sixth most expensive neighborhood in Phoenix. This neighborhood is known for its stunning desert landscapes and upscale amenities, making it an appealing choice for renters. The neighborhood offers a variety of shopping options, including Desert Ridge Marketplace, which features numerous retail stores, restaurants, and entertainment venues. Dining in Desert View is diverse and high-quality, with popular spots like Mastro’s Steakhouse serving up delectable dishes. Outdoor enthusiasts will appreciate the proximity to parks such as Reach 11 Recreation Area, offering extensive trails and beautiful natural scenery.

7. Central Avenue Corridor

Average 1-bedroom rent: $1,611
Apartments for rent in Central Avenue Corridor

Located north of downtown, Central Avenue Corridor has a friendly atmosphere and community-feeling, with plenty of local cafes and restaurants along Central Avenue, such as The Newton and Pane Bianco. The area also offers a variety of shopping experiences, with the nearby Biltmore Fashion Park providing upscale retail stores and eateries. Dining options abound, including popular spots like Durant’s for classic steakhouse fare. Renters will appreciate the proximity to beautiful parks such as Steele Indian School Park, which features serene walking paths, a dog park, and recreational facilities. Architecturally, the neighborhood showcases a mix of sleek modern apartments and well-preserved mid-century buildings, offering a diverse range of living options.

8. Ahwatukee Foothills

Average 1-bedroom rent: $1,602
Apartments for rent in Ahwatukee Foothills

Ahwatukee Foothills takes the eighth spot on our list of most expensive neighborhoods in Phoenix. The average rent for a one-bedroom unit is roughly $300 more than the city’s average. The area is known for its scenic beauty and tranquil suburban atmosphere, making it an attractive option for renters. The neighborhood offers excellent shopping options, including the Ahwatukee Foothills Towne Center, which features a variety of retail stores and dining establishments. Dining in Ahwatukee Foothills is diverse, with popular spots like Hillside Spot Cafe for casual fare and Va Bene for Italian cuisine. Outdoor enthusiasts will appreciate the numerous parks and recreational areas, such as South Mountain Park, which provides extensive hiking and biking trails. Architecturally, the area features a mix of contemporary homes, stylish apartments, and spacious townhouses, catering to various rental preferences.

9. Arcadia Lite

Average 1-bedroom rent: $1,571
Apartments for rent in Arcadia Lite

A well-loved Phoenix neighborhood, Arcadia Lite is the next area on our list. It’s known for its trendy vibe and central location, making it an attractive option for renters. The neighborhood offers diverse shopping experiences, including boutique stores and the bustling Biltmore Fashion Park nearby. Dining in Arcadia Lite is a highlight, with popular spots like La Grande Orange Grocery and Pizzeria for unique, locally-sourced dishes. Renters can enjoy outdoor activities at nearby parks such as Camelback Mountain and the Arizona Canal Trail, perfect for hiking and biking. Architecturally, Arcadia Lite features a mix of mid-century modern homes and contemporary apartments, providing a variety of stylish living options.

10. South Phoenix

Average 1-bedroom rent: $1,570
Apartments for rent in South Phoenix

The tenth most expensive neighborhood is South Phoenix, known for its rich cultural heritage and scenic desert landscapes. Dining in South Phoenix includes popular spots such as The Tamale Store, known for its handmade tamales, and Los Dos Molinos, offering flavorful New Mexican cuisine. Parks like South Mountain Park and Preserve provide residents with extensive hiking trails, picnic areas, and breathtaking views of the city. Architecturally, South Phoenix showcases a mix of traditional Southwestern-style homes, modern apartments, and ranch-style houses, offering diverse living options for renters.

11. Central City

Average 1-bedroom rent: $1,511
Apartments for rent in Central City

Number 11 on our list is Central City. This neighborhood is adjacent to downtown Phoenix. The area boasts a variety of shopping options, including the bustling Arizona Center, which features retail stores, entertainment venues, and dining establishments. Food enthusiasts will enjoy the diverse dining scene, with popular spots like The Arrogant Butcher offering contemporary American cuisine and Cibo serving artisanal pizzas. For outdoor activities, renters can explore Margaret T. Hance Park, which offers green spaces, playgrounds, and hosts cultural events. Architecturally, Central City showcases a mix of modern high-rise apartments, historic homes, and stylish condos, providing a range of housing options to suit different preferences.

12. Pierson Place

Average 1-bedroom rent: $1,390
Apartments for rent in Pierson Place

Taking the 12th spot is Pierson Place. The average rent for a one-bedroom apartment here is about $100 over the city’s average. Pierson Place is known for its charming mid-century architecture and convenient location, making it an attractive option for renters. The neighborhood is just a short distance from the bustling Uptown Plaza, which offers a variety of shopping options and popular dining spots like Flower Child and Lou Malnati’s Pizzeria. Renters can enjoy the nearby Steele Indian School Park, which provides ample green space, walking paths, and recreational facilities. Pierson Place features a mix of well-preserved historic homes and modernized apartments, catering to diverse housing preferences. Additionally, its close proximity to the light rail makes commuting to downtown Phoenix and other parts of the city easy and convenient.

13. North Gateway

Average 1-bedroom rent: $1,382
Apartments for rent in North Gateway

North Gateway is a popular area to consider living in in Phoenix. With attractions like the Musical Instrument Museum and the Cave Buttes Recreation Area, and an average one-bedroom rent of $1,382, there are many reasons this area may be for you. North Gateway is known for its serene desert landscapes and convenient suburban living. The area offers a variety of shopping options, including the nearby Shops at Norterra, which features numerous retail stores, restaurants, and entertainment venues. Dining in North Gateway includes popular spots like Pita Jungle, known for its healthy Mediterranean fare, and Ah-So Sushi & Steak, offering a delightful mix of Japanese cuisine and teppanyaki. Outdoor enthusiasts will appreciate the abundance of parks, such as the expansive Reach 11 Sports Complex, which provides sports fields, trails, and picnic areas. Architecturally, North Gateway features modern single-family homes, stylish townhouses, and contemporary apartment complexes, catering to diverse rental preferences.

Methodology: Whether a neighborhood has an average 1-bedroom rent price over the city’s average. Average rental data from Rent.com in June 2024.

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Inside: The decision on where you live is a big life choice. Learn how an HCOL vs LCOL area will impact you financially. Plus find the cost of living city that fits for you.

HCOL. LOCL. MCOL. What do these acronyms mean and why should I care?

Back when I was trying to decide where to live, there wasn’t a big discussion about the high cost of living or low cost of living areas.

You just picked a city close to family or branched out to a new area. Were you drawn to the big city or not? Plain and simple.

Today, there are many tools at our disposal to try and figure out what is the best city to live in based on income, expenses, and the lifestyle that you desire.

In this post, you will see how to analyze what type of city you want to live in and see if it makes financial sense for you.

Why such the price difference between HCOL and LCOL?

In a low cost of living city, you can buy a house for $50,000. In contrast, a median home price in a high cost of living city can cost $1.5 million. This is a correlation between supply and demand in the market.

The more people who want to live in a certain area that has less available space will naturally drive up prices. Whereas most low cost of living areas, the supply is abundant since there is plenty of space to spread out and find your own neck of the woods for much less.

Here’s a quick comparison of HCOL vs LCOL vs MCOL.

New York City has the highest cost of living at 100, followed by Los Angeles and San Francisco. This graph highlights the difference in cost of living in these example cities.

HCOL
Seattle, WA		 MCOL
Las Vegas, NV		 LCOL
Knoxville, TN
Cost of Living Index 85.57 69.33 63.26
2 Bed Apartment Rent $2,724 $1,176 $788
Median Home Price $826,200 $441,771 $256,188
Median Income $92,263  $56,354 $33,229
Data from Nerdwallet, Census.Gov, and Numbeo

What is HCOL area Mean?

Simply put, HCOL means a high cost of living.

This type of acronym is to describe certain areas or cities where expenses that impact your budget the most, such as housing, food, and transportation, are more expensive than other areas.

When defining an HCOL area, it is a comparison of the cost of living based on other areas around other cities, states, and countries.

There is no hard line to define high cost of living since it is compared to the other cities.

Is it possible to live in a high cost of living area? Absolutely, it all depends on how you choose to live, the income you make, your lifestyle choices, and your savings percentage.

VHCOL are VERY high cost of living areas, such as Manhattan, Honolulu, San Francisco, Singapore, or Hong Kong.

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Pros and Cons of HCOL

Just because an area is labeled HCOL does not mean that you shouldn’t call the city home and stay away from these areas.

There are plenty of advantages and disadvantages of living in a high cost city.

There are always drawbacks to living in a high cost of living area and you have to decide whether or not what works for you.

In order to make a solid decision on where the best place is for you to live, you need to know this information.

Advantages of HCOL City

  • Job Market is Solid

First of all, in HCOL cities, the job market is stronger, there are more jobs available, and typically those jobs have a higher paying threshold than other areas.

That is why many companies are attracted to these areas because they know the talent pool of potential employees is much stronger in high cost of living area versus other areas where there are not as many skilled workers.

  • Income is Higher

Since companies know they must pay their employees a fair wage living in a high cost of living area, incomes are higher to support the increased expenses.

This helps those municipalities collect more taxes, which feed back into the system to provide more for their residents.

  • More Opportunities

More opportunities abound in a high cost of living cities.

Not only in the job market but there is access to public amenities and conveniences. Some examples include museums, sporting events, transit, best medical services, endless entertainment options, quality restaurants, high-end shopping, and quick access to international airports.

Even better, you can find free entertainment each and every day that does not cost a penny. Here is a list of 101 things to do with no money.

There are many benefits of living in a high cost of living area just because their opportunities are endless. You will always find something to do and there is always stuff going on.

  • Better Schools

Typically, in your high cost of living cities, that is where you will find the better schools. This is in direct correlation to the job market and skilled workers.

These skilled workers tend to have a higher instance of college graduates and they tend to want the best for their children. As a result, the schools tend to be much better than you would find in other areas.

  • Higher Chance of Home Equity

Another advantage of big cities is the variety of neighborhoods you can find in a bigger city. You can find the type of house you want to live in and the diversity you crave.

While home costs are much higher, there is also a greater chance of income increasing your home equity much faster than other areas.

For example, in Michigan, you could pay $100,000 for the exact same house in 5-10 years since appreciation will not happen at the same rate as other cities. Whereas, if you look at some of the hot markets, like Denver, Phoenix, or Austin, the home prices have been skyrocketing.

Thus, if you live in those quickly appreciating housing areas, there is a higher chance to increase the value of your house.

Disadvantages Of HCOL Cities

  • Higher Basic Cost of Living – Specifically Housing

First, housing costs can break the bank. It is the biggest expense for any
household.

If you were unable to secure a salary to justify the housing cost, it makes it nearly impossible to be able to afford to live in a high cost of living area.

This is where you would have to get creative and look for housing subsidies or
other means to stretch your housing budget.

  • Harder to Find Houses

Another con of a high cost of living areas is it is much harder to find housing! House and rent prices are higher, jobs are tougher to find where there’s opportunities abound, and you may feel like you are searching for a needle in a haystack.

You need to have the right opportunity to find the proper house for you. If you are looking at buying, you need things to line up properly and in your favor.

  • Stretch Yourself Too Far Financially

Since incomes tend to be much higher, many people find the urge to spend more discretionary income.

In many cases, this means that the average household may stretch themselves a little bit further by keeping up with the Joneses. They tend to spend more frivolously and not live as frugal.

This is a trap to be aware of if you are in a high cost of living area. You can be savvy with your money and save, but you have to be cognizant of how you spend your hard-earned salary.

HCOL Cities…

These are the HCOL areas. Do you need to avoid them? No, but going into those areas, you must realize the cost of living will be higher.

Here’s a list of all of the cities that are the top 20 cities that are high cost of living areas according to Kiplinger:

1. Manhattan, New York  (145.7% above U.S. average)
2. San Francisco, California (94.7% above U.S. average)
3. Honolulu, Hawaii (97.6% above U.S. average)
4. Brooklyn, New York (80.5% above U.S. average)
5. Washington, D.C. (60.7% above U.S. average)
6. Seattle, Washington (56.7% above U.S. average)
7. Oakland, California (53.9% above U.S. average)
8. Arlington, Virginia (50.5% above U.S. average)
9. Orange County, California (50.2% above U.S. average)
10. Boston, Massachusetts (48.8% above U.S. average)
11. Queens, New York (47.8% above U.S. average)
12. Los Angeles, California (46.6% above U.S. average)
13. Bethesda, Maryland (45.5% above U.S. average)
14. San Diego, California (41.4% above U.S. average)
15. Alexandria, Virginia (40.0% above U.S. average)
16. Stamford, Connecticut (36.4% above U.S. average)
17. Portland, Oregon (34.3% above U.S. average)
18. Fairbanks, Alaska (27.9% above U.S. average)
19. Bergen County & Passaic County, NJ (26.6% above U.S. average)
20. Anchorage, Alaska (24.4% above U.S. average)
Source: Kiplinger

What Is LCOL Area Mean?

LCOL stands for lower cost of living.

These cities have a lower average cost of living versus the average.

Simply put…your ability to stretch your income goes much further in a low cost area compared to a high cost of living area. This is where you can get a bigger bang for your buck.

Pros and Cons of LCOL

The differences in the area where you can live can be vastly different. Thus, providing benefits or drawbacks of choosing to live there.

The cons are typically the reasons that most people want to stay away from these cities.

This is where personal preference tends to play the biggest reason for choosing one location over another.

Just like with a high cost of living area, you need to weigh the pros and cons of
living somewhere where expenses are not quite as high.

Advantages of LCOL –

  • Slower Pace of Life

One of the biggest benefits is a slower pace of living in low cost of living area.

Life doesn’t move as fast.

There is more time to breathe, there is more time to step back and take a bigger picture. It is not go, go, go, go 24/7. Time to enjoy the fresh air and slower pace.

  • Cheaper Housing

This is why people choose to live in a low cost of living area. Period.

You are able to afford much more house for much less.

That right there, over the long term can make or break somebody financially.

  • Lower Taxes

Many of the lower cost of living cities also benefit from lower taxes as well. They have lower income taxes, and even possibly, lower property taxes. So, this is something to take into consideration when looking at a low cost of living area.

Check what the difference would be from where you’re currently at to where you are considering moving.

  • Remote Work

This is the bread and butter spot! When you can take in a higher pay and still live in a LCOL city.

After 2020, remote work is becoming more and more popular. In addition, it is an added benefit companies are including to attract skilled employees.

This is one scenario where you can get the best of both worlds.

Disadvantages Of LCOL Cities

  • Less Opportunities

First of all, there are fewer opportunities. There are fewer things to do, there are less things going on. The airport is a further drive away.

In a big city, you can always find events happening. It may not be the same in other cities. However, some cities have created programs to draw in residents with the big city feel like Bellefontaine, Ohio.

  • Income Potential is Lower

The job market doesn’t have the high-paying jobs that you would find in the bigger cities. The income potential in one of these cities does not compare.

Let’s face it… a good majority of your working years are about built around making an income. With a lower cost of living city, the income limitations can be cumbersome and it takes longer to be able to reach your financial goals.

LCOL States and Countries with LCOL

Geographic arbitrage can give you great value for your money.

Arbitrage is the spread of differing prices for the same thing like rent, food, or transportation.

This means you can save more money by living in LCOL state or spend less of your nest egg by living in a LCOL countries.

These are the areas you can find the lower cost of living. There are many LCOL cities to be found as well.

LCOL States:

1. Mississippi (84.10% of U.S. average)
2. Kansas (86.67% of U.S. average)
3. Oklahoma (88.09% of U.S. average)
4. Alabama (88.80% of U.S. average)
5. Arkansas (89.16% of U.S.average)
6. Georgia (89.30% of U.S. average)
7. Tennessee (89.49% of U.S. average)
8. Missouri (89.75% of U.S. average)
9. Michigan (90.54% of U.S. average)
10. Indiana (90.57% of U.S. average)
Source: US News

LCOL Countries:

Listed in alphabetical order because there are many to chose from based on your personal preferences.

  • Brazil
  • Bulgaria
  • Columbia
  • Ecuador
  • Guatemala
  • India
  • Indonesia
  • Malaysia
  • Mexico
  • Morocco
  • Paraguay
  • Peru
  • Poland
  • Portugal
  • Romania
  • South Africa
  • Thailand
  • Turkey
  • Ukraine
  • Vietnam

Source: https://www.expatistan.com/cost-of-living/country/comparison

What Is MCOL Area Mean?

The definition of MCOL is any area that just has an medium cost of living.

There is not one extreme or another. These cities are just plain average. Maybe slightly above or below the median cost of living.

This can be a sweet spot of reaching your financial goals while enjoying a higher quality of life.

Benefits of MCOL Area

As you can read on Reddit personal finance threads, there are plenty of reasons to live in an MCOL area.

Mostly because these types of cities you can get the best bang for your buck, and still have the pros of living in a high cost of living area, as well as the pros of living in a low cost of living area.

This is where the job market may be very stable with good wages but the cost of living is not going to cost you a fortune.

Also, you can find tons of cities that meet the criteria of a MCOL city.

Cost of Living Varies within Cities

Regardless of whether you choose, HCOL, LCOL, or MCOL areas, the cost of living will be dramatically different between these cities.

Whether you are looking at the downtown area, the outlying suburbs, or maybe even the cities that have popped up around near the main city.

Just because the city is HCOL or LCOL, there will be neighborhoods that will be the outliers to the main part of the city.

So, when you are looking at cost of living, you must know the things that are most important to you and what type of neighborhood that you would want to live in because they can be found.

That is what I call hidden gems.

It is possible to find a cheaper house in a low cost of living or high cost of living area, you just have to do your homework and know what you’re looking for.

Vice versa, it is very possible to find a neighborhood in a low cost of living area that is much higher than the surrounding areas.

How can I buy a house in a high cost of living?

It is possible to be a homeowner in a in a high cost of living area. You just have to be able to afford the down payment on the house to make being a homeowner justifiable, if possible.

Before you decide to buy a house, here are some factors you need to take into consideration..

1. Does it make sense?

First, you have to make sure that it makes logical sense to buy a house. Especially in a high cost of living area because the house prices may not match up to what the income that you are bringing in.

Will you still be able to reach your money goals by purchasing a house? Or will you be house poor?

2. Compare rent to potential mortgage

Will it be cheaper to rent? Or cheaper to have a mortgage?

To figure this out, take what the average rent is in your neighborhood. Then, use a mortgage calculator to figure out the maximum amount you can afford.

Since those calculators will leave you house poor. Decide what you are able to justify in spending on a mortgage and figure out what the mortgage payment is.

Is the mortgage payment less than average rent in the area?

For example, it may cost in a high cost of living area, like San Diego, it may cost $3,000 a month to rent a house. Whereas you might be able to buy a similar home in the same neighborhood and have your mortgage payment of $2,259.

Thus, making buying makes more financial sense than continuing to rent.

3. Expand your horizons

Another tip to afford your dream house – do not be set on that one specific neighborhood in a high cost of living area.

Many times you can find an up-and-coming neighborhood that is much less than the trendier and hip current neighborhoods that you want to live in.

Thus, you can typically save a good chunk of money. Plus in the long run, you greatly increase the potential for home equity.

4. New Homebuyer Programs

If this is the first time you are buying a house, then look into first-time homebuyer programs and grants. (Hint… this is like free money!)

There are many out there because cities want their residents to buy in their neighborhood and their cities because that means they are going to be there for a longer-term.

Also, there are programs for the military, teachers, nurses, single moms, minorities, graduate students. You just have to look.

5. Save for Down Payment

When you are looking at buying a house, this is the time to become serious about saving for a down payment.

You may have to find ways to save more money each month.

This could include things like downsizing your lifestyle to make it possible. Living with friends or family while you save up more money. Or just spending less for a certain period of time until you reach your downpayment goal.

6. House Hacking

The last step is one of the best ways to reach financial independence in a high cost of living city. Plus the concept works well in any city… house hack.

Find a multi-family housing property that you were able to buy. For example, plan to live on one side of the duplex and rent out the other. This will help you pay for your mortgage, by using the rent collected from your renters.

Thus, lowing your overall housing cost, which is your biggest expense.

Where Does Your Income Go the Furthest?

This is a comparison that you may be surprised by the outcome. Thus, proving why you need to do cost comparisons to see what financially makes the most sense when deciding to move from one to the other area.

comparison of income, expenses, taxes, and potential savings!!!!!!!!!!!

Once again, this is personal to your situation. So, take a moment and use the cost of living calculator yourself.

Paying taxes is one option to increase what you take home in each paycheck.

No Income States

These are the states that don’t pay state income taxes on wages:

  • Alaska
  • Florida
  • Nevada
  • New Hampshire
  • South Dakota
  • Tennessee
  • Texas
  • Washington
  • Wyoming

For most people, that is an instant decrease in overall taxes!

Higher Taxed States

Also, if you live in one of the higher taxed states, then you may want to reconsider moving to a lower cost of living area.

The higher taxes income tax states include:

  • California
  • Hawaii
  • New Jersey
  • Oregon
  • Minnesota
  • The District of Columbia
  • New York
  • Vermont
  • Iowa
  • Wisconsin

These states tax income somewhere between 7.65% – 13.3%.

Property Taxes

Property taxes vary from state to state.

In some states with large property taxes, it may even out with no income taxes. While other states, like Illinois, where property taxes are high and income taxes are above the national average as well.

Moving From HCOL to LCOL

The reason that most people move from HCOL to LCOL area is to save money. They want to decrease their expenses – that is the primary driver. Other times, it may be that they’re looking for a different type of lifestyle.

But as you can read on Reddit, everybody has a different personal experience.

It may have been beneficial and may have been bad timing. It may have been the best choice. It may have been the worst decision.

Make sure to factor in the costs associated with the move. Also, any ongoing expenses like travel if you are moving away from family.

How to Choose HCOL or LCOL?

Deciding where you live is one of the most personal decisions that you can make. Nobody can make it for you. You know what you want in life, how you want to live, and where you would feel more comfortable.

So, let’s look primarily at the financial side of making this decision of what is best.

1. Lifestyle You Desire

There are massive differences between HCOL and LCOL cities!! In big cities, life moves at a faster pace. While most cheaper cities areas move at a slower pace, so you have to make the decision of what type of lifestyle.

Do you want you want the big city? Do you want suburbia? Or do you prefer more of a country lifestyle?

When looking at this first factor, your answer should not include money. This is where your heart is. This is where your home. This is the life that you plan on living. This doesn’t include the financial sense.

This includes what makes your heart happy.

2. Your Money Goals

One of the things that discussed the most on this site is the 10 Money Bliss Steps to Financial Freedom. That is where most of our readers find their current money goal. And for good reason, you must build a strong foundation with money one step at a time.

In order to achieve long term financial success, the decision on housing is critical as it is the biggest expense in any budget. And that is can have the greatest impact on your budget!

On the flip side, the amount of income you are capable of making can also make the biggest impact on what you can afford to spend.

You must decide on your current money goal as well as the longer term money vision. Maybe you are looking at wanting to retire early? Love to live a slower life in the future?

It is possible to live in HCOL area where you are able to live extremely frugally and save more money. This is what my friend did over at Tuppennys FIREplace. For them, it was a smarter decision. On the flip side, maybe you are happier living a slower pace of life. Income is not the primary driver and you just want to enjoy life more.

At the end of the day, you must prioritize what you want, how your budget and your expenses correlate, and how your saving rate is impacted in various cities.

3. Season of Life

For those in their younger years may not understand this as much, but as you go through seasons of life, you will realize that you have different goals, objectives, and desires along the way.

When deciding where to live, your current season of life will probably have a very high impact on what you are looking for.

If you have young kids, you probably want to find a neighborhood where you have other families nearby that your kids can interact with.

If you are close to retirement, you may look decide to move out of the good school district because you do not need to pay the premium of living here. You may choose to move to a lower cost of living area, so you have the freedom to travel and help my kids and grandkids.

4. Potential Income & Career Opportunities

The greatest benefit of a high cost of living area is the income potential and the career opportunities. Both are much greater in the bigger cities than you would find in the smaller cities.

If your primary goal is increasing your income and advancing your career, then looking at high cost of living areas an absolute must. Plus you might be able to find something on the outskirts of expensive neighborhoods, that would make the most financial sense.

Then, living in HCOL is justified and necessary and the income can justify the higher costs associated.

On the flip side, there is plenty of income potential as a small business owner in a low cost of living area. You just have to know the market, what your skills are in, and what the needs are in your area.

4. Fixed Expenses

Fixed expenses can be dramatically different in each area.

Write out a list of your top fixed expenses and make sure to compare those as well.

For example, child care costs and tuition are going to be much more expensive in a big city than in the suburbs. Maybe in certain neighborhoods, a car would not be needed; thus, eliminating another big cost and associated maintenance.

While some fixed expenses seem meniscal, over time, they can add up significantly. Thus, helping or hurting your financial picture.

Unspoken Price Tag to Live Somewhere

As we covered in this post, there is a lot to consider when deciding between HCOL, LCOL, or MCOL areas.

It is a highly personal decision that you must take the time to make the best decision for you!

Not someone else, but for you.

One thing to watch out for when looking at where to live is what I call the “price tag” of a beautiful city.

Many times, employers know that the city that people want to live in their city for whatever reason. Thus, you will experience what I like to call the “income hit” to living there.

For example, Fort Collins, Boulder, and Austin are highly desirable areas for postgraduates to live in because they fall in love with the town and they want to stay here for the long term. Thus, employers know that this!

As a result, income for jobs maybe 10 to 15% less than they could make in any other type of market or city. So, that is something just to be aware of when wanting to stay in the city that they have grown to love.

In conclusion, when you’re looking at a high cost of living area versus a low cost of living area, there are two sides to the coin.

One – what makes financial sense. Two – your home is where your heart is.

Consequently, you have to make the decision on what makes sense for you.

While it makes financial sense to move to a lower cost city, at the same time, it may move you away from your family and your support system, and everything that you enjoy, and you may not be as happy in the long run.

Enjoy weighing the alternatives between all of the options available.

Know someone else that needs this, too? Then, please share!!

Did the post resonate with you?

More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!

Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.

Source: moneybliss.org

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Today’s average refinance rates


Today’s average mortgage rates on Jun. 24, 2024, compared with one week ago. We use rate data collected by Bankrate as reported by lenders across the US.

Lower mortgage rates make buying a home more affordable. Experts recommend shopping around with different mortgage lenders to find the best deal. Enter your information below to get a custom quote from one of CNET’s partner lenders.

About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates from lenders that you can use when comparing multiple mortgage rates.

Refinance rate news

When mortgage rates hit historic lows during the pandemic, there was a refinancing boom, as homeowners were able to nab lower interest rates. But with current average mortgage rates around 7%, getting a new home loan isn’t as financially viable.

Early in the year, hopes were high for a summer rate cut from the Fed. But over the past few months, inflation has remained high and the labor market strong, making it clear to investors that the Fed will take longer than expected to lower rates.

Higher mortgage rates make refinancing less attractive to homeowners, making them more likely to hold onto their existing mortgages.

What to expect from refinance rates this year

“The odds are good that rates will end 2024 lower than they are now,” said Keith Gumbinger, vice president of mortgage site, HSH.com. But predicting exactly where mortgage rates will end up is difficult because it hinges on economic data we don’t yet have.

If inflation continues to improve and the Fed is able to cut rates, mortgage refinance rates could end the year between 6% and 6.5%.

But data showing higher inflation could cause investors to reconsider the likelihood of Fed rate cuts and send mortgage rates higher, according to Orphe Divounguy, senior economist at Zillow Home Loans.

If you’re considering a refinance, remember that you can’t time the economy: Interest rates fluctuate on an hourly, daily and weekly basis, and are influenced by an array of factors. Your best move is to keep an eye on day-to-day rate changes and have a game plan on how to capitalize on a big enough percentage drop, said Matt Graham of Mortgage News Daily.

What to know about refinancing

When you refinance your mortgage, you take out another home loan that pays off your initial mortgage. With a traditional refinance, your new home loan will have a different term and/or interest rate. With a cash-out refinance, you’ll tap into your equity with a new loan that’s bigger than your existing mortgage balance, allowing you to pocket the difference in cash.

Refinancing can be a great financial move if you score a low rate or can pay off your home loan in less time, but consider whether it’s the right choice for you. Reducing your interest rate by 1% or more is an incentive to refinance, allowing you to cut your monthly payment significantly.

How to find the best refinance rates

The rates advertised online often require specific conditions for eligibility. Your personal interest rate will be influenced by market conditions as well as your specific credit history, financial profile and application. Having a high credit score, a low credit utilization ratio and a history of consistent and on-time payments will generally help you get the best interest rates.

30-year fixed-rate refinance

The average rate for a 30-year fixed refinance loan is currently 6.94%, a decrease of 7 basis points from what we saw one week ago. (A basis point is equivalent to 0.01%.) A 30-year fixed refinance will typically have lower monthly payments than a 15-year or 10-year refinance, but it will take you longer to pay off and typically cost you more in interest over the long term.

15-year fixed-rate refinance

The average 15-year fixed refinance rate right now is 6.43%, a decrease of 7 basis points compared to one week ago. Though a 15-year fixed refinance will most likely raise your monthly payment compared to a 30-year loan, you’ll save more money over time because you’re paying off your loan quicker. Also, 15-year refinance rates are typically lower than 30-year refinance rates, which will help you save more in the long run.

10-year fixed-rate refinance

The average rate for a 10-year fixed refinance loan is currently 6.28%, a decrease of 14 basis points from what we saw the previous week. A 10-year refinance typically has the lowest interest rate but the highest monthly payment of all refinance terms. A 10-year refinance can help you pay off your house much quicker and save on interest, but make sure you can afford the steeper monthly payment.

To get the best refinance rates, make your application as strong as possible by getting your finances in order, using credit responsibly and monitoring your credit regularly. And don’t forget to speak with multiple lenders and shop around.

Reasons you might refinance your home

Homeowners usually refinance to save money, but there are other reasons to do so. Here are the most common reasons homeowners refinance:

  • To get a lower interest rate: If you can secure a rate that’s at least 1% lower than the one on your current mortgage, it could make sense to refinance.
  • To switch the type of mortgage: If you have an adjustable-rate mortgage and want greater security, you could refinance to a fixed-rate mortgage.
  • To eliminate mortgage insurance: If you have an FHA loan that requires mortgage insurance, you can refinance to a conventional loan once you have 20% equity.
  • To change the length of a loan term: Refinancing to a longer loan term could lower your monthly payment. Refinancing to a shorter term will save you interest in the long run.
  • To tap into your equity through a cash-out refinance: If you replace your mortgage with a larger loan, you can receive the difference in cash to cover a large expense.
  • To take someone off the mortgage: In case of divorce, you can apply for a new home loan in just your name and use the funds to pay off your existing mortgage.

Source: cnet.com

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When shopping for auto insurance in the First State, it makes sense to start by looking into the best car insurance companies in Delaware. But because so many different factors go into choosing an insurance company, it can be hard to know which “best” option is actually right for you.

To make the decision easier, NerdWallet analyzed 18 car insurance companies in Delaware to find the best car insurance for the following categories:

See what you could save on car insurance

Easily compare personalized rates to see how much switching car insurance could save you.

Best car insurance in Delaware overall: Travelers

Travelers earned the highest overall NerdWallet star rating out of the 18 car insurance companies we analyzed in Delaware. Its wide range of discounts and coverage options, along with the low record of complaints from its customers to regulators, make it a strong contender for drivers shopping for car insurance in Delaware.

One of the largest insurers in the country, Travelers has an expansive network of agents and a large variety of insurance products to choose from. This insurer stands out for its accident forgiveness plans and above and beyond coverage options including gap insurance and premier new car replacement.

Travelers

Travelers offers a broad range of coverage options and discounts to help you customize your car insurance policy.

Great set of discounts

Ease of use

Above average

NAIC complaints

Fewer than expected

Travelers

Travelers offers a broad range of coverage options and discounts to help you customize your car insurance policy.

Great set of discounts

Ease of use

Above average

NAIC complaints

Fewer than expected

Best Delaware auto insurance for your budget: Travelers

Delaware drivers looking for a top-rated insurer that’s also good for their wallet are in luck. Travelers, NerdWallet’s pick for the overall best auto insurer in Delaware, is also the most affordable among insurers with NerdWallet star ratings of 4.5 and above.

Our June 2024 analysis showed that the average rate for full coverage insurance from Travelers is $1,145 per year or $95 per month for Delaware drivers. However, these are median rates and your rate may be different. Travelers also offers a wide variety of discounts, which may help you cut your premium down even further.

Travelers

Travelers offers a broad range of coverage options and discounts to help you customize your car insurance policy.

Great set of discounts

Ease of use

Above average

NAIC complaints

Fewer than expected

Travelers

Travelers offers a broad range of coverage options and discounts to help you customize your car insurance policy.

Great set of discounts

Ease of use

Above average

NAIC complaints

Fewer than expected

🤓Nerdy Tip

We don’t have data for every single company that offers coverage in Delaware, so Travelers may not actually be the best Delaware car insurance provider for you. Compare car insurance rates from several companies to find the company cheapest for you.

Best car insurance in Delaware for customer complaints: Travelers

Travelers is also the best car insurance company for Delaware drivers when it comes to customer satisfaction, based on the low number of complaints to state regulators compared to companies of similar size. This is based on a comparison across auto insurers in Delaware with a 4.5 NerdWallet star rating or above. Travelers’ high level of customer satisfaction is part of the reason why it also ranks as the best overall car insurance company in Delaware.

Travelers

Travelers offers a broad range of coverage options and discounts to help you customize your car insurance policy.

Great set of discounts

Ease of use

Above average

NAIC complaints

Fewer than expected

Travelers

Travelers offers a broad range of coverage options and discounts to help you customize your car insurance policy.

Great set of discounts

Ease of use

Above average

NAIC complaints

Fewer than expected

Best Delaware car insurance for ease of use: State Farm

State Farm is the best car insurance company in Delaware for ease of use. State Farm customers can manage their policy and submit claims online, and the mobile app has excellent user ratings for both iOS and Android devices. While offering robust online tools and services, State Farm also pairs all its customers with a dedicated agent for more personalized attention.

State Farm

State Farm offers numerous discounts and extras including travel expense coverage, making it a good choice for most drivers.

Average set of discounts

Ease of use

Above average

NAIC complaints

Fewer than expected

State Farm

State Farm offers numerous discounts and extras including travel expense coverage, making it a good choice for most drivers.

Average set of discounts

Ease of use

Above average

NAIC complaints

Fewer than expected

Full list of the top auto insurance companies in Delaware

Out of all 18 car insurers NerdWallet analyzed, here is the full list of the companies that provide the best car insurance in Delaware. Only companies with a NerdWallet star rating of 4.5 or higher were considered.

How to get the best car insurance in Delaware

Still not sure which company to go with? Try these tips:

  • Assess your needs. Evaluate your own needs and preferences before deciding on a car insurance company, since everyone’s needs are different. For example, one person might prioritize a company with strong customer service and a low-mileage discount, while another may prize affordability and a well-polished mobile app.

  • Do your research. While the companies on this page represent solid choices, you may want to explore other options. Whichever insurer you go with, make sure they’re financially stable, have few customer complaints and offer the coverage you need at a competitive price. You can also check out our full list of auto insurance reviews.

  • Consider small insurance companies. Small, regional insurers may provide a better price and customer service than the big companies you see advertised on TV. You might have to recruit the help of a local independent car insurance agent to find them.

  • Shop around once a year. Make a practice of shopping for car insurance quotes about once a year — especially if price is important to you. Insurers adjust car insurance rates regularly, so a company that gave you the best rate last year might no longer be a bargain this year. Be sure to get quotes from at least three insurers, and for the most accurate comparison, use the same or similar coverage options and deductibles while shopping around.

Why you can trust NerdWallet

Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage so you can choose the insurance company that works best for you. Our ratings are specific to auto insurance; a company’s rating for other products may be different on our site. See our criteria for evaluating auto insurance companies.

Source: nerdwallet.com

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Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate mortgages to write unbiased product reviews.

Last week, 30-year mortgage rates averaged around 6.58%, according to Zillow data. Mortgage rates ticked down a bit following the release of May’s Consumer Price Index data, which showed that inflation cooled off last month. 

Mortgage rates are expected to fall further later this year, but how much they’ll go down depends on how inflation trends in the coming months. If inflation is slow to come down, rates might not improve significantly.

If you’re planning to buy a home soon, you can lessen the impact of high rates by shopping around and getting quotes from multiple mortgage lenders. This will help you find the lowest rate available, saving you money in the long term.

Today’s mortgage rates

Mortgage type Average rate today
This information has been provided by
Zillow. See more
mortgage rates on Zillow

Real Estate on Zillow

Today’s 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 interest rates will affect your monthly payments:

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

By clicking on “More details,” you’ll also see how much you’ll pay over the entire length of your mortgage, including how much goes toward the principal vs. interest.

Mortgage Rate Projection for 2024

Mortgage rates started ticking up from historic lows in the second half of 2021 and increased dramatically in 2022 and throughout most of 2023.

Many forecasts expect rates to fall this year now that inflation has been coming down. In the last 12 months, the Consumer Price Index rose by 3.3%. This is a significant slowdown compared when it peaked at 9.1% in 2022, but we’ll likely need to see more slowing before rates can drop substantially.

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. 

When Will House Prices Come Down?

We aren’t likely to see home prices drop this year. In fact, they’ll probably rise.

Fannie Mae researchers expect prices to increase 4.8% in 2024 and 1.5% in 2025, while the Mortgage Bankers Association expects a 4.3% increase in 2024 and a 3.3% increase in 2024.

Sky high mortgage rates have pushed many hopeful buyers out of the market, slowing homebuying demand and putting downward pressure on home prices. But rates have since eased, removing some of that pressure. The current supply of homes is also historically low, which will likely push prices up.

What Happens to House Prices in a Recession?

House prices usually drop during a recession, but not always. When it does happen, it’s generally because fewer people can afford to purchase homes, and the low demand forces sellers to lower their prices.

How Much Mortgage Can I Afford?

A mortgage calculator like the one above can help you determine how much house you can afford. Play around with different home prices and down payment amounts to see how much your monthly payment could be, and think about how that fits in with your overall budget.

Typically, experts recommend spending no more than 28% of your gross monthly income on housing expenses. This means your entire monthly mortgage payment, including taxes and insurance, shouldn’t exceed 28% of your pre-tax monthly income.

The lower your rate, the more you’ll be able to borrow, so shop around and get preapproved with multiple mortgage lenders to see who can offer you the best rate. But remember not to borrow more than what your budget can comfortably handle.

Molly Grace

Mortgage Reporter

Source: businessinsider.com

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For Dinner Parties

Our Place

Now 19% Off

At Our Place, co-founder Shiza Shahid’s mission is to make sure everyone has a seat at the table, especially at mealtime. The brand honors those of multicultural backgrounds with cookware and utensils that bring heirloom recipes to life at the table. This ceramic set will help you do just that, with essentials like serving platters and bowls and mini bowls for sauces and sides.

For Lighting

Afternoon Light

Now 10% Off

Before launching Afternoon Light, Deirdre Maloney and Minya Quirk worked as business partners for nearly two decades in fashion. They turned to home decor as a way to streamline shopping for “hard-to-find great stuff.” You can find items like this Knit-Wit High Floor Lamp by Iskos Berlin, which is featured in their Made by Hand series.

For Joanna Gaines Fans

Magnolia

Now 20% Off

Joanna Gaines fans need no introduction to Magnolia. The co-founder, alongside her husband Chip Gaines, created the brand over 20 years ago as a mantra that symbolizes home as their favorite place to be. Today, she curates the likes of furniture, rugs, art, and decor in their collection to help accent every area of your house. The intricate, gilded gold design on this mirror will add an elegant touch to your interiors.

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For Bucolic Style Lovers

Sweet July

Now 40% Off

For Ayesha Curry, the month of July holds a special place in her heart, so she named her home and lifestyle company Sweet July. (She was married on July 2011 and had her children on the same month in the years following!) Available in stunning earth tones, these linen throw pillows offer subtle rustic appeal so take your pick while shopping them.

For a Coastal Aesthetic

Serena & Lily

Now 20% Off

Founded two decades ago by textile designer Serena Dugan and former tech company executive Lily Kanter, Serena & Lily was born out of their desire to build home with character. Within the company’s collection, you’ll find nods to California style (aka: coastal and casual home design), like this seaside-inspired outdoor bistro set.

For Art Lovers

54kibo

Now 10% Off

Founder Nana Quagraine is a native of Ghana and South Africa, and she channels both locales through her love of design. After noticing the lack of access to African design on a global scale, she launched the 54kibo marketplace with a mission to spread the creativity of Africa and its diaspora to the world. This adjustable wall mirror is inspired by a traditional Ndebele necklace.

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For Self-Care

Parachute Home

Parachute Home founder Ariel Kaye saw a hole in the market for quality and accessible bedding. Using her advertising and brand development career expertise, Kaye launched her own ethical, direct-to-consumer company with that exact ethos in mind. Also known for its loungewear, the brand’s best-selling robe is made with 100 percent long-staple Turkish cotton for a soft, relaxed fit.

For Minimalists

Johanna Howard x Burrow

Johanna Howard has been designing ever since she watched her mom create handmade dresses at her atelier while growing up in Sweden. After fine-tuning her creative eye in her career, Howard began creating home decor pieces inspired by Scandinavian design. In partnership with Burrow, Howard designed this classic ottoman tray with a lip to seamlessly keep decor, charcuterie, or anything else organized.

For Vibrant Accessories

Brother Vellies

Now 35% Off

Brother Vellies founder Aurora James is also the founder of the 15 Percent Pledge, a nonprofit that calls on big-name retailers to allocate 15 percent of their shelf space to Black-owned businesses. Her luxury home and fashion brand include handmade goodies like this statement checkerboard dish you’ll want to keep on display.

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For Plant Parents

Palette Pots

Now 37% Off

Latrice Thompson’s mission is simple: To make the plant industry more sustainable and colorful with her Palette Pots brand. Inspired by a coffee mug, this functional planter has a beautiful glossy finish and a drainage hole for small plants.

For Green Thumbs

The Sill

Eliza Blank founded The Sill back in 2012 after combining her love of gardening from her family’s Filipino roots with the need to refresh her own apartment. While the brand has a wide offering of healthy plants to shop, they also sell creative decor for greenery. The Landscape Growframe doubles as art and a planter with its sleek, mountable design and built-in grow lights.

For Abstract Pieces

Vivee Home

Vivee Home co-founders Katya Warm and Meryl Ware create fine and modern art-driven home decor that’s both stunning and sustainable. They utilized their backgrounds in art and marketing to launch the brand and channel their joy for life (vivee translates “to live”) in their collections. Plus, five percent of Vivee Home’s profits go to The Art Therapy Project.

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For Stylish Pet Parents

Approved by Fritz

After adopting her dog, Fritz, in 2021, Danielle Heeren combined her love for canines and design to launch a dog- and planet-friendly lifestyle brand. Her Approved by Fritz collection includes sustainable, modern home goods that can seamlessly fit in your space, like this fully recycled dog bed.

For Luxurious Lounging

Yellow Leaf Hammocks

Now 20% Off

Yellow Leaf Hammocks’s co-founder Rachel Connors pitched her brand alongside husband Joe Demin on Shark Tank in 2020. With their million-dollar deal, they launched the brand with the help of craftswomen of the Mlabri Tribe in Northern Thailand, also known as “the people of the yellow leaves.” The co-founders’ Hammock Throne is one of the most luxurious hammocks you can buy, thanks to its 360-degree swivel design and “extremely comfortable” and “customizable” qualities.

For Harlem Residents

Harlem Candle Company

Teri Johnson founded her candle brand, the Harlem Candle Company, to pay homage to the Harlem Renaissance and the iconic figures of the ’20s and ’30s who defined the era. This iteration is inspired by entertainer Josephine Baker, also known as the bronze goddess of the Harlem Renaissance, with its sensual blend of rose, jasmine, warm amber, tonka bean, and sandalwood notes.

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For Modern Furniture

Lulu and Georgia

For founder Sara Sugarman, home decor has always been a family business, thanks to loved ones who worked in hotel, residence, and interior design industries. When building Lulu and Georgia, she kept community and family in the brand’s DNA, even down to naming her company after her grandfather, Lou, and her father, George. This Harlowe swivel chair’s sculpted arm rests give it a modern, cozy feel designed for a corner nook or family room.

For Tea Lovers

The Qi

Translating to “life energy,” Lisa Li’s brand The Qi is rooted in providing energy to all its customers via sensory-based teas. In addition to offering flowering herbs, which helped the founder recover from work burnout, her collection includes heat-resistant glass cups and saucers to help you see your beverage in full bloom.

For Backyard Barbecues

Crow Canyon Home

Founded in 1977 and owned by Cara Barde, Crow Canyon Home is known as an originator of splatter enamelware. The brand offers kitchenware like this durable tray that’s safe to use on the stovetop, grill, and in the oven.

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For Cocktail Parties

Material

Material CEO Eunice Byun and co-founder David Nguyen create stylish and functional kitchen tools like prepware and cookware to help unite people over cooking and sharing a meal. She partnered with Death & Co. to create this cool pitcher with a wavy handle that’s easy to stir and pour.

For Eclectic Home Decorators

Annie Selke

Founder Annie Selke’s self-titled home decor brand started with rugs, thanks to her love of textiles. It has since expanded to feature everything from colorful and coastal to bohemian and modern furniture and decor. This jute rug will bring a textural element to your home with its all-natural, braided top-weave design.

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Source: housebeautiful.com

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Taking off from the Zayed International Airport’s recently opened Terminal A in Abu Dhabi, United Arab Emirates, was a special treat, especially considering I was flying on an Airbus A350-1000 in Etihad Airways’ business class, which offered sliding doors at each seat.

From on demand a la carte dining to a new triple-level lounge in the airport, traveling aboard Etihad, one of the national airlines of the UAE, is a unique way to learn about Emirati culture while also enjoying top-notch service.

Etihad’s many partnerships with other airlines puts award flights more easily within reach for those who want to redeem their points and miles. Here is what to expect when traveling business class with Etihad.

The airport experience

Etihad offers chauffeur service in Abu Dhabi for business class passengers, which was easy to book online. My personal driver arrived right on time to take me from my city-center hotel to the new terminal. The driver dropped me off at the business class check-in area, which was bright and airy.

(Photo by Ramsey Qubein)

There was a short wait, and an agent from the first class check-in area flagged me over to check me in. All in all, check-in took two minutes. In addition, there were comfortable seating areas and even refreshments to enjoy before heading through security.

(Photo by Ramsey Qubein)

Terminal A, which just opened in November 2023, is bright and airy. It showcases enormous windows and an undulating roof sculpture that looks like the shape of the region’s desert sand dunes.

After a little shopping, I made my way to the terminal’s new Etihad business class lounge, which has three floors.

Etihad business lounge in Abu Dhabi

Once I arrived at the Etihad Airways lounge for business class passengers, I asked the friendly check-in agent which floor they recommended and made my way to the suggested top floor. A full-service bar and buffet setup proved an interesting way to pass the time.

My flight was departing at 3:05 a.m., which was a difficult time to stay awake for, but surprisingly, I was hungry and helped myself to the large selection of salads and curries on offer. When it was time to board, there was no extra security check, and I was in my seat in minutes.

The business class seat

The 1-2-1 layout in Etihad’s business class meant the seats have spacious side counters and wireless charging surfaces, which worked brilliantly.

(Photo by Ramsey Qubein)

Several storage compartments allowed me to keep my belongings in order, and the enormous touch-screen monitor in front had a wide range of movies and TV shows. Even with a flight duration of 14 hours and 30 minutes, I had barely enough time to even scratch the surface of entertainment options.

(Photo courtesy of Etihad Airways)

The best part of the seat was the sliding privacy door that was unlocked by the crew after takeoff. This keeps movement in the aisle from disturbing passengers while trying to rest. I kept mine closed most of the flight except when eating.

(Photo by Ramsey Qubein)

Waiting near my seat was a large pillow, padded seat cover, blanket and beige Acqua di Parma amenity kit. It had hand lotion, lip balm, eyeshades and socks. Cushioned noise-reducing headphones were wrapped in a compartment to one side with a bottle of water.

I appreciated how often the crew offered to refill my water bottle, as I prefer to stay hydrated in flight.

Meal service

Etihad offers a dine-on-demand service, and I struggled to decide when I wanted to eat and when I wanted to sleep.

Not wanting to miss out, I decided to try a light snack after takeoff and ordered the Arabic mezze with a glass of Chardonnay plus an acai bowl for dessert.

Just what you want at 4 a.m., right?

(Photo by Ramsey Qubein)

It was quite tasty, and I liked how my flight attendant brought out a bowl of warm nuts before serving my food.

After the light snack, I reclined my seat into bed mode and slept for four hours. My plan was to sleep for eight or nine hours and then have a larger meal before landing, but I could not stay asleep.

So what do you do on an Etihad flight when you can’t sleep? Eat again!

I went to the galley to see if there were snacks available. Sure enough, a display of potato chips, chocolate bars and fruit was laid out. I grabbed a few snacks and informed the flight attendant I also wanted to order something more substantial.

Another glass of wine soon arrived along with a tray of lentil soup and a side salad. It was served at the perfect temperature and with a slice of lemon to squeeze onto it.

After this, my next course arrived, Indian paneer curry. Other options on the menu included a roasted chicken dish and local Emirati grouper fish.

(Photo by Ramsey Qubein)

Etihad has a new partnership with Armani Casa to supply its cutlery, dishes and glassware from the brand. It was very elegant and had the appearance of a fine restaurant.

🤓Nerdy Tip

Interestingly, Etihad uses trays in business class rather than putting the dishes one by one on the table like its peers. Still, this made the service more efficient for the flight attendants and did not detract from the presentation.

For dessert, I ordered the cheese plate, which had cheddar, brie and blue cheeses with fresh fruit. After working a little on my laptop, I reclined my seat again to doze until landing.

(Photo by Ramsey Qubein)

The details

I loved how the crew was from different parts of the world. In addition to the Lebanese flight attendant who took care of me, the purser was from Thailand, another flight attendant in my aisle was from Egypt and the pilot was from Ireland.

Etihad has a very international crew, and its uniforms, in hues of beige and purple, made them look like runway fashion models.

The bathrooms were clean and tidy the entire flight, and they had Armani Casa toiletries, although I was surprised and disappointed there were not more products like shaving or dental kits on display.

Another bummer was the lack of air nozzles at each seat, as the cabin was rather warm.

(Photo courtesy of Etihad Airways)

One unique feature about U.S.-bound flights from Abu Dhabi is that the airport has a preclearance facility. This means passengers complete U.S. customs and immigration formalities before boarding, allowing them to land in the U.S. as a domestic passenger.

Unfortunately, the new airport terminal meant that not all U.S. flights were eligible yet for this service, as the U.S. officers worked only during the morning hours. This added some extra time to my itinerary when arriving at Chicago O’Hare International Airport, but normally, this is an excellent reason to connect on Etihad in Abu Dhabi versus other area airports.

How to book Etihad business class

Redeem points and miles

In addition to paying cash for Etihad’s premium cabin, members of its own Etihad Guest loyalty program can redeem miles for the experience.

The airline uses a distance-based chart, which means the number of miles you need varies by flight. This flight clocks in at more than 7,000 miles, which means a business class seat requires 110,000 miles in each direction.

Transfer travel rewards from airline partners

Another popular way to enjoy business class is by redeeming American Airlines AAdvantage miles, as Etihad is one of the carrier’s partners. A one-way business class flight from the U.S. to Abu Dhabi costs 70,000 miles based on its partner award chart.

Smart cards for Etihad flights

The Platinum Card® from American Express

Citi Premier® Card

Capital One Venture Rewards Credit Card

Annual fee

Earning rates

• 5 points per $1 on flights booked directly with airlines or with American Express Travel, on up to $500,000 spent per year.

• 5 points per $1 on prepaid hotels booked with American Express Travel.

• 1 point per $1 on other eligible purchases.

Terms apply.

• 10 ThankYou® points per $1 spent on hotels, car rentals and attractions booked through the Citi Travel site.

• 3 points per $1 on air travel and other hotel purchases.

• 3 points per $1 on supermarkets.

• 3 points per $1 on gas stations and EV charging stations.

• 3 points per $1 on restaurants.

• 1 point per $1 on all other purchases.

• 5 miles per $1 on hotels and rental cars booked through Capital One Travel.

• 2 miles per $1 on all other purchases.

Learn more

Etihad impresses on ultra-long-haul flights

Etihad offers an impressive business class product on the A350-1000. If you can’t redeem miles to fly on one of the airline’s first class A380 flights (complete with in-flight shower), this is the next best thing.

To view rates and fees of The Platinum Card® from American Express, see this page.

The information related to Citi Premier® Card has been collected by NerdWallet and has not been reviewed or provided by the issuer or provider of this product or service.”

How to maximize your rewards

Source: nerdwallet.com

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Want to know what the best businesses that run themselves are? Have you ever dreamed of having a business that runs by itself? Whether you want extra income or a full-time job, these businesses make money without needing you all the time. Having a business that runs itself means more time for you to do…

Want to know what the best businesses that run themselves are?

Have you ever dreamed of having a business that runs by itself? Whether you want extra income or a full-time job, these businesses make money without needing you all the time.

Having a business that runs itself means more time for you to do what you love. This could be more family time, traveling, pursuing passions, or starting another venture. These kinds of businesses are perfect for making your dreams a reality.

Now, that doesn’t mean that all of the businesses below will require zero hours of work from you – they will need varying amounts of time dedicated to them. Maybe some time in the beginning to get it started, some time to maintain it, or even hiring an employee to keep it going or check in occasionally.

Recommended reading: 18 Passive Income Ideas To Earn $1,000+ Each Month

Businesses That Run Themselves

Below are the best businesses that run themselves.

1. Self-service laundromat

A laundromat business can be a great business idea if you want something that mostly runs itself.

With the right setup, you might only need to check in occasionally. Laundromats can give you a steady source of income because people always need clean clothes.

The day-to-day operations of a laundromat include opening the business up in the morning, maintaining machines (the washers and dryers) and keeping the business clean, stocking detergents, and having someone handle the finances. The average self-service laundromat has 2 employees or less, so this is a business where you can outsource that job even.

Running a laundromat can be rewarding and mostly hands-off, making it a popular choice among business owners. If you’re looking for a steady income with minimal daily effort, this could be the option for you.

Recommended reading: Are Laundromats Profitable? How Much Do Laundromats Make?

2. Sell printables

Digital products, such as printables, can be a great way to have a business that runs itself.

Making printables on Etsy can be a great idea because you just need to create one digital file per product, which you can then sell an unlimited number of times. This is what makes it a great passive income opportunity, plus, you can make printables without anything other than just your laptop/computer and internet connection.

Printables are digital products that customers can download and print themselves at home. Examples of printables include:

  • Grocery shopping checklists
  • Gift tags
  • Candy bar wrappers
  • Printable quotes for wall art
  • Patterns
  • Planners
  • Coloring sheets
  • Stickers

These items are designed to be easily printed from a computer or other devices, being convenient for buyers who want to customize and use them right away.

Recommended reading: How I Make Money Selling Printables On Etsy

Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.

3. Blogging

Blogging can be a business that runs itself mostly, but it’s not passive, especially at the beginning. It requires a lot of hard work and can take up most of your time when you’re starting out. Over the years, I’ve automated much of my blog so that it runs with about 10 hours of maintenance from me each week.

Starting a successful blog is challenging – it’s not something everyone can easily do!

That said, learning how to start a blog has been one of the best decisions I’ve made. It’s a great way to earn semi-passive income and extra money.

I think it’s one of the best businesses that run themselves, and it’s something that I have been doing for years. I can take weeks off at a time and still earn a great income during that time.

Blogging can generate passive income because you can create a blog post (high-quality content is key) and continue to earn money from it for years. This income can come from affiliate marketing or display advertising. Unlike traditional jobs where you have to work daily to earn money, a blog allows you to make money around the clock – even while you sleep – thanks to the work you’ve already done in the past.

I have a free training that you can take – How To Start A Blog FREE Course. Want to see how I built a $5,000,000 blog? In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.

4. Affiliate marketing

Affiliate marketing is a great way to make money with a business that mostly runs itself and can make money in your sleep.

Among these businesses that practically run themselves, this one is my favorite. I’ve earned more than $2,000,000 through affiliate marketing over the years, and much of it is semi-passive. I can earn money while I’m on vacation, without internet, while I’m sleeping, and more.

Affiliate marketing is when you earn money by placing a special link on your website or social media. When people buy something through your link, you get a commission. For example, if you link to a book on Amazon (after joining the Amazon affiliate program) from your website and someone buys it through your link, you earn a commission. Companies like Amazon value good affiliates because they help promote their products and services.

You earn a commission by promoting other companies’ products or services. When someone buys through your link, you get paid.

Now, this doesn’t mean that affiliate marketing completely runs itself. You will need to write the content that draws readers in and find ways to get page views. But, once you get things started, you can earn money without always actively working for it.

Recommended reading: Affiliate Marketing Tips For Beginners – Free eBook

5. Rental real estate and rental properties

Being a property owner and managing properties can be a great way to run a business that makes money on its own.

One way to earn extra money is by listing your property on Airbnb or another short-term rental platform. You can rent out your entire house, apartment, or just a room to travelers looking for short stays.

Another way to earn money is through long-term rentals. Long-term rentals involve renting out a property for an extended period, typically six months to a year or more. For example, you might rent out an apartment or house to a family who will live there full-time.

One advantage of long-term rentals is the stable and consistent income they provide. By leasing your property to tenants for a longer duration, you establish a steady stream of rental payments. This reliability can be particularly appealing for those seeking a reliable source of passive income. Plus, managing a long-term rental is usually less demanding than a short-term rental since you don’t need to clean the property frequently or find new renters regularly.

Whether you rent out your property short-term or long-term, you can lessen your involvement by hiring a property manager to do any of the day-to-day work that may be needed. This can make your rental property business more of a hands-off business model.

Recommended reading: 23 Best Real Estate Side Hustles To Make Extra Money

6. Online courses

Creating and selling online courses can be a great way to earn passive income. Once you develop the content and put it on a platform like Teachable, it mostly takes care of itself.

With an online course, you share what you know with others. Maybe you’re good at math, photography, or playing guitar. You can turn those skills into a course.

Creating online courses is a smart way to take what you know and turn it into a business that runs almost by itself. It can be fun too, and you can help a lot of people at once.

I created Making Sense of Affiliate Marketing, my first online course, several years ago and have earned over $2,000,000 from it.

Creating a course is not the easiest way to start a business that runs itself, but it can be a great way to earn an income around the clock. Most of the work is done in the very beginning, and then there is some maintenance along the way to keep the course updated, help students, and so on.

Recommended reading: How I’ve Made Over $1,000,000 From My First Course Without a Big Launch.

7. Storage facility

Running a storage facility is a great way to have a business that can largely manage itself. Plus, this can be a steady income stream, and many storage facilities have long waiting lists and are in high demand.

Self-storage facilities are places where people store their belongings, like boxes of their keepsakes, vehicles, RVs, and more, in storage units or in a big lot.

Owning a self-storage business can be a way to earn money with low expenses. These businesses usually only need a couple of employees.

Often, when I visit a self-storage lot, it’s just the owner or one employee working, and there are very few customers around. Sometimes, no one is working and I just use a code to go in and out.

Another idea similar to this is to rent out your storage space on Neighbor.

Neighbor.com is a platform where you can rent out your space to people who need storage for their belongings such as boxes, furniture, and even cars. You can list spaces like your driveway, garage, closet, and more on Neighbor.com. It’s similar to Airbnb but for storage – no one stays overnight, just their belongings! Depending on demand in your area and the type of storage space you have, you can earn between $100 to $400 or more each month.

Recommended reading: How To Invest In Self-Storage For Beginners

8. Stock photography

Stock photography is a great way to start a business that will eventually run itself. With this type of business, you take photos and upload them to stock photo websites. When someone buys your photo, you get paid.

Once your photos are online, they can sell again and again too.

Stock photos have many different purposes for websites, companies, blogs, and more. Businesses use stock photos because they may not have the resources to photograph everything they need. Instead, they can use stock photos to improve the visual appeal of their content, website, or business.

I personally use stock photos in my blog posts, as do many others. All the photos in this article are stock photos, actually.

There are several well-known stock photo websites such as Shutterstock, iStock by Getty Images, Adobe Stock, and Dreamstime.

To sell photos on these sites, you’ll need to create a contributor account and upload your images following the site’s rules. Each time someone downloads your photos, you earn a commission.

On stock photo websites, having high-quality photos is very important, but having a larger portfolio also matters. The more pictures you have in your stock photo collection, the more potential income you can generate.

Recommended reading: 18 Ways To Get Paid To Take Pictures

9. Car washes

Running a car wash business can be a great way to earn money with minimal effort. Automatic and self-serve car washes are especially popular because they require less work to manage day-to-day.

A self-service car wash is a place where customers pay to use equipment to wash their own cars.

An automatic car wash is a place where customers drive through a tunnel where machines do all the cleaning.

Starting a car wash can be cost-effective over time. The equipment can handle many customers with little human help. You just need to check the machines and refill supplies.

10. Write ebooks

Creating ebooks can be a great way to generate passive income streams. Once you write and publish an ebook, it can keep earning you money with very little effort.

Writing a book can provide passive income because you only need to write it once, yet you can continue to earn money from it for years. While you may need to do some promotion to keep readers engaged, the writing itself is a one-time effort. This makes it possible for the income to be passive over time.

Plus, you can start by self-publishing an ebook and selling it directly on Amazon or on your own website.

11. Dropshipping

Dropshipping is a popular business model that lets you sell products without keeping any inventory. You simply partner with a supplier who ships the items directly to your customers.

Dropshipping can be a great choice because there are low start-up costs as you don’t need to buy stock or rent a warehouse. This keeps costs down at the beginning.

Plus, there’s a lot of flexibility. You can run your dropshipping business from anywhere with an internet connection. This makes it perfect for those who like to travel or work from home.

There are many different things you can sell in a dropshipping business, such as T-shirts (you could even have a print-on-demand business), home decor, mugs, kitchen tools, pet supplies, and baby items.

12. Run a membership website

Membership websites are a great way to run a business that can almost take care of itself. These are websites where people pay regularly to access exclusive content or services.

Now, these will require work and some maintenance. But, you can earn recurring income 24/7, without actively needing to work.

Plus, as more people join, your income grows without adding lots more work.

Some examples of membership sites can include running a Patreon for your YouTube channel, a stock photo membership site, a paid forum, and an online school.

13. ATM business

If you want a low-maintenance business idea that almost runs itself, you may want to look into ATMs.

ATMs can be great because they don’t need much daily work. Once set up, you just need to check them regularly and refill cash.

To start, you’ll need one or more ATM machines (these typically cost around $2,000 to $10,000), you’ll need to find locations (such as convenience stores, malls, gas stations, etc.), set up the ATM (connect it to a network), and monitor and maintain it.

You would earn money through the ATM transaction fees that people are charged when they withdraw money.

Using ATMs can be a good way to make extra money without a lot of effort. They need some work at first but can become a reliable source of income.

14. Parking lots

Parking lots can be great businesses that mostly run themselves.

People always need places to park, such as in cities, near popular venues, at airports, and at shopping centers. If you can find a good location, your parking lot can bring in steady income without much daily work from you.

To get started, all you need is a plot of land. You can set up pay stations to handle money collection. Some lots even use apps for payments, making the process easier for everyone.

And, with the right setup, you can keep things running smoothly with just occasional cleaning and repairs.

15. App development

If you have technical skills, developing and selling an app can be a way to start a business that operates autonomously.

Creating your own app, whether it’s a useful tool, a fun game, or something else, can be profitable.

Although it requires initial effort and investment, once your app is available in app stores, it can generate revenue around the clock through in-app purchases or with the initial download.

You can create mobile apps like a budget tracker, meal planner, fitness tracker, meditation guide, travel planner, and others that cater to specific needs or interests.

16. Billboards

A billboard business is a great way to make passive income. Once set up, it needs little maintenance. You can rent the advertising space to companies for their ads.

Now, building new billboards isn’t allowed everywhere, but in many places, you can still add them onto your own land or buy one that already exists. You’ll want to check local laws to know more before you begin.

Billboards require minimal upkeep, which makes it a great business that runs itself. Regular checks and occasional repairs are needed. Digital billboards need more maintenance, but they can display multiple ads and increase income.

17. Sell on Amazon

Amazon FBA (Fulfillment by Amazon) allows sellers to store their products in Amazon’s warehouses. Amazon takes care of shipping to customers, handling returns, and managing customer service for the seller. This setup frees sellers from storing inventory or dealing with shipping logistics.

While you still need to find products to sell, Amazon FBA makes it possible for anyone, even without experience, to earn money selling items like household goods, toys, books, electronics, and more through their platform.

Recommended reading: How To Work From Home Selling On Amazon FBA

18. Vending machine business

A vending machine business can be a great way to earn passive income. With some initial investment and a bit of planning, you can start making money with minimal effort. Vending machines typically need minimal upkeep and the hours are low.

You can start with as little as $1,500 to $3,000, and even buy used or refurbished vending machines to save money.

Vending machines can be placed in high-traffic areas (with permission and an agreement, of course), such as schools, offices, gyms, hospitals, and more. You may need to pay 5% to 25% of your earnings to use their space.

Vending machines run on their own for the most part. You will have to refill the machines regularly and make any needed repairs.

A vending machine business can be a smart way to generate passive income while requiring little hands-on work. With the right location and products, you can see steady profits.

Recommended reading: How To Start A Vending Machine Business – How I Make $7,000 Monthly

Frequently Asked Questions

If you are thinking about having a self-running business, here are some common questions and helpful answers that might guide you in the right direction.

How can I start a business that doesn’t need me to be there all the time?

To start a business that doesn’t need you to be there all the time, I recommend finding a business model that can be easily automated. Examples include online stores using dropshipping or print-on-demand services. These models let you automate order processing and inventory management, reducing your need to be involved in daily operations. Other businesses include running a laundromat, selling printables on Etsy, blogging, rental real estate, and stock photography.

What are some top businesses known for making money while the owner sleeps?

The best businesses known for making money while the owner sleeps include rental real estate, blogging, stock photography, dropshipping, ATMs, developing an app, and selling an online course. These businesses have systems in place that handle most tasks automatically, allowing you to earn money with minimal hands-on management.

How to have a business that runs itself?

To have a business that runs itself, you need to try something like vending machines, ATMs, blogging, stock photography, dropshipping, and more. Then, you can either automate as much as you can, or outsource the hours where something needs to be done (such as refilling the vending machine).

What is the easiest business to start and run?

Among the easiest businesses to start are online stores using dropshipping, vending machines, and digital products like printables. These business ventures require low upfront investment and minimal ongoing management, making them accessible for beginners.

How do you find a self running business for sale?

To find a self-running business for sale, you can look for listings on business-for-sale websites or contact business brokers. Many websites list businesses for sale, such as BizBuySell and LoopNet. Always research and vet any business thoroughly before buying.

Businesses That Run Themselves – Summary

I hope you enjoyed this article on the best businesses that run themselves.

Self-sustaining business examples include online businesses like blogging and affiliate marketing, where you create content or promote products and enjoy passive income.

Even offline options like laundromats and car washes can be mostly self-sustaining, needing only occasional maintenance. Another good example is a vending machine business. You just put your machines in good spots and let them do the work.

Managing a rental business can be another way to have a business plan that doesn’t require a lot of active hours from you.

For me, I have a business that I work a low amount of hours and can run itself for the most part. I have automated a lot to make this possible, as well as have worked a lot of hours in the beginning. I love having a business that can run itself, as it means that I have more time for other things in life.

What do you think are the best businesses that run themselves?

Recommended reading:

Source: makingsenseofcents.com