Personal loan amounts range from $2,000 to $100,000, which may not be enough to buy a regular home but could work if you need a small mortgage for a tiny or mobile home.
Personal loan interest isn’t tax deductible like a mortgage.
You can typically receive faster funding with a personal loan than a mortgage.
With median home sale prices approaching $400,000 at the end of 2023, a personal loan typically won’t give you the borrowing power you need to buy a home compared to a regular mortgage, However, if you’re in the market for a tiny home or a manufactured home, a personal loan may be a great financing choice. If not, a personal loan can help you tidy up your finances so you can qualify for a mortgage to buy your dream home.
Can you use a personal loan to buy a house?
Yes, if you can find a home at a price within standard personal loan amount limits (typically between $2,000 and $100,000) and can afford the payment timeline. That’s probably not enough to buy a regular home, but it may be perfect if you need a small mortgage for a tiny home or a mobile home.
Using a personal loan to buy a tiny home
Personal loans may be the right financing fit to buy tiny homes with prices averaging between $30,000 and $70,000. Mortgage lenders often shy away from loans below $100,000 because they aren’t profitable. In other cases, tiny homes don’t fit minimum property requirements. For example, tiny homes are typically less than 400 square feet, which is less than the Federal Housing Administration’s minimum.
Personal loans are typically unsecured, which means you won’t risk losing your home if you can’t make the payments. One disadvantage of a loan versus a mortgage is you can’t write off personal loan interest because it’s not tax-deductible like mortgage interest.
Using a personal loan to finance a manufactured home
On average, you’ll pay between $86,100 and $158,633 to buy a manufactured home, which means you could use a personal loan to buy one on the lower end of the price range. If you don’t plan to attach your home to land that you own, you may not be able to get mortgage financing, which makes personal loans a good option.
A personal loan may also be cheaper than a chattel loan, an expensive type of financing used to buy mobile homes that aren’t considered real estate.
6 ways you can use a personal loan to buy a house
If you’re buying a standard family home, you can use a personal loan to spruce up your finances to help you qualify for a home loan.
If you’re saddled with multiple credit card payments at high interest rates, you can use a personal loan for debt consolidation to combine them all into one monthly payment. Rates are typically lower than credit cards, and you’ll reduce your credit utilization ratio, which has a major impact on your credit score.
If your scores improve, lower monthly payments could help you qualify for a higher sales price or a better interest rate. Having fewer monthly payments reduces the chances of a late payment, which can really damage your credit score.
You’ll need a credit score of 780 or higher to get the best mortgage interest rates with the lowest closing costs. You could see a big boost to your credit score if you pay off maxed-out credit cards with a debt consolidation loan.
Besides allowing you to qualify for a higher-priced house, a lower interest rate can save you thousands of dollars in interest charges over the life of a 30-year mortgage.
If you took out an auto loan with a short term (12 to 36 months) to buy a new car, the payment will affect your debt-to-income (DTI) ratio, which measures how much total debt you have compared to your income. The higher your DTI ratio, the lower the mortgage amount you can qualify for.
If you’ve found your forever home but have been told your mortgage DTI ratio is too high, consider replacing your short-term auto loan with a longer-term personal loan. Keep in mind that you’ll end up paying more in interest if you choose a longer loan term than the loan you’re paying off.
If you don’t have enough saved up for a down payment for a house, consider putting the savings from steps one and two above into a down payment savings account. The more you put down, the lower your monthly mortgage payment will be. If you can swing a 20% down payment, you’ll avoid monthly mortgage insurance on a conventional mortgage.
Mortgage underwriting guidelines don’t allow you to use money from an unsecured loan like a credit card or personal loan toward your down payment or closing cost requirement to buy a home. However, there is an exception if your loan is secured to an asset like a car.
Mortgage lenders will allow you to use funds from a secured personal loan to qualify if you meet the DTI ratio requirements with the new payment. You’ll also need to provide paperwork to prove you own the asset and document the value of the asset with some third-party service (like Kelly Blue Book for a car loan).
If you’re trying to buy a home in a competitive market, your agent may recommend an all-cash offer, which may involve bidding more than the asking price on the home. If you’re short of funds to make an offer and need a quick path to extra cash, a personal loan may be worth a look.
Many personal loan lenders can get you cash within a day or two, which keeps you in the running against other cash buyers. If you want to pay the personal loan off once you’ve purchased the home, you borrow the funds against your home’s equity with a home equity loan, HELOC or a cash-out refinance.
Pros and cons of using a personal loan to buy a house
Pros
Replace multiple debts with one easy-to-remember monthly payment.
Improve your credit scores by paying off revolving credit card debt.
No assets are required for collateral.
Faster funding times than most mortgage products.
Can use debt consolidation savings to build a down payment fund.
Cons
Payment may affect your DTI ratio.
Rates are often higher than home equity loan and HELOC rates.
Shorter terms mean higher monthly payments than home equity products.
Potential prepayment penalties and high origination fees.
Personal loan interest isn’t tax-deductible for a home purchase.
Can you use a personal loan for a down payment?
The answer is a definite no if it’s an unsecured personal loan. However, as mentioned above, if the personal loan is secured by an asset like a car, collectible, artwork or other asset, then lenders will usually allow the borrowed funds to count toward your down payment. You’ll need to qualify with the extra payment and prove you own the secured asset.
Blue Business Cash $100 |Blue Business Plus 15,000 | Business Platinum 15,000 | Business Gold 15,000
American Express is offering Blue Business Plus cardholders 15,000 when they add an employee card and the employee card spends $4,000 within six months.
American Express is offering Business Platinum cardholders 15,000 when they add an employee card and the employee card spends $4,000 within six months.
American Express is offering Business Gold cardholders 15,000 when they add an employee card and the employee card spends $4,000 within six months.
American Express is offering Blue Business Cash cardholders $100 when they add an employee card and the employee card spends $4,000 within six months.
You can get the bonus for up to 5 employee cards – total bonus of 75,000 points/$500.
Our Verdict
This isn’t as good as the targeted 20,000 points offer on other business cards, but still could be a nice offer for someone doing the spend anyway. These links might work for everyone (?). You don’t need to supply a SSN when adding an employee card, but the employee needs to add it within 60 days otherwise the account will be closed. (One comment reports they are now stricter with business cards and require SSN immediately upon receipt. YMMV.)
Discover the transformative power of wallpapers for walls. Explore a diverse range of patterns, colors, and textures to redefine your living or working space.
This collection caters to every taste, providing options for easy installation, removal and repositioning. Elevate your interior design with these versatile and stylish wall coverings. The application is a breeze—simply peel and stick on any smooth, clean, and dry surface. Grid Lines on the back ensure easy measurement and cutting. Plus, it leaves no sticky mess when removed or repositioned.
List of best-selling wallpapers for walls online
Name
Amazon Rating
Amazon Price
Wolpin Wall Sticker – Textured Butterfly Leave
4.0 / 5
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Wolpin Wallpaper Stripe Living Room – Decal Silver
3.7 / 5
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Wolpin Wall Stickers DIY Wallpaper Pink Damask
4.1 / 5
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Wolpin Wall Stickers Textured Embossed
3.9 / 5
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Wolpin Wallpaper 3D Stone DIY
4.0 / 5
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Wolpin Wall Stickers DIY 3D Brick Ivy Vine
4.2 / 5
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Wolpin DIY Wallpaper Decal 3D Brick
4.1 / 5
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Wolpin Wall Stickers DIY Black Damask Luxury
4.1 / 5
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Wolpin DIY Wallpaper Floral Damask
4.1 / 5
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Wolpin Wall Stickers Floral Damask
4.1 / 5
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Wolpin Wallpaper DIY 3D Frames PVC
4.1 / 5
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Wolpin Wood Wallpaper
4.0 / 5
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Read more about other Home & Decor products on the Top Trending Products page. Read further for wallpapers for walls.
1. Wolpin Wall Sticker – Textured Butterfly Leave
Use Wolpin’s Textured Butterfly Leaves Wallpaper to liven up your interiors. This self-adhesive wonder is ideal for kitchens, living rooms, bedrooms, and other spaces as it brings a little bit of nature indoors. The wallpaper is not only aesthetically pleasing but also heat-resistant, waterproof, and made of premium PVC vinyl. Big rolls (45 x 300 cm) provide you plenty of coverage; a 10 ft by 10 ft wall only needs 7 rolls.
2. Wolpin Wallpaper Stripe Living Room – Decal Silver
Wolpin’s Home Renovation Stripe Wallpaper will bring life back into your living areas. This self-adhesive marvel works well in a variety of spaces, including offices, kitchens, and living rooms. The wallpaper is not only aesthetically pleasing but also heat-resistant, waterproof, and made of high-quality PVC vinyl. Extra-large 45 x 500 cm rolls provide a lot of covering; a 10 ft by 10 foot wall only needs 5 rolls.
Color options – 1
Material – Vinyl
Size options – 45 x 500 cm, 45 x 1000 cm, 45
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3. Wolpin Wall Stickers DIY Wallpaper Pink Damask
The Pink Damask Self-Adhesive Wallpaper from Wolpin will completely change your house. This wallpaper, which is made of high-quality PVC vinyl, is a great option for improving the walls of bedrooms, living rooms, kitchens, and other spaces. Furniture, counters, and even tiles get a sophisticated touch from the pink floral damask pattern.Five rolls, each measuring 45 x 500 cm, will suffice to cover a wall measuring 10 feet by 10 feet. In addition to being elegant, this decorative contact paper is heat-resistant, waterproof and detachable.
Wolpin’s Gold Damask Self-Adhesive Wallpaper will breathe new life into your house. With its embossed damask floral pattern, this decorative PVC wallpaper is a great option for a kitchen, living room, bedroom, and more. With ease, give tiles, cabinets, and furniture a textured, elegant appearance. A wall of ten feet by ten feet will require seven rolls, each measuring 45 x 300 cm.
Coloroptions – 3
Material – Polyvinyl Chloride
Size options – 45 x 300 cm, 45 x 600 cm, 45 x 1000 cm
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5. Wolpin Wallpaper 3D Stone DIY
With the 3D Stone Self-Adhesive Wallpaper from Wolpin, you can easily update your house. This natural stone-colored PVC vinyl wallpaper gives a sophisticated touch to any space. This wallpaper beautifully combines modern design with natural elements, making it ideal for use in bedrooms, living rooms, kitchens, and other spaces. A wall of ten feet by ten feet needs six rolls, each measuring 45 x 300 cm. With its removable, waterproof, and heat-resistant 3D stone wallpaper, Wolpin guarantees the safety of your walls. With the help of gridlines for simple cutting and measurement, just peel and stick on any smooth, clean, and dry surface.
Color options – 1
Material – Vinyl (PVC)
Size options – 45 x 300 cm, 45 x 1000 cm
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6. Wolpin Wall Stickers DIY 3D Brick Ivy Vine
Wolpin’s 3D Brick Vine Self-Adhesive Wallpaper will enhance the look of your home decor.A wall of ten feet by ten feet needs five rolls, each measuring 45 x 500 cm. Made from premium PVC vinyl, this wallpaper is heat-resistant, waterproof, reusable, and environmentally friendly. Your interiors will look more sophisticated with the white vine motif. Straightforward cutting and measuring are made easier by the gridlines on the back. Wolpin guarantees easy removal or reuse without leaving behind tacky residue.
Color options – 2
Material – Vinyl (PVC)
Size options – 45 x 500 cm, 45 x 1000 cm
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7. Wolpin DIY Wallpaper Decal 3D Brick
Upgrade the look of your house or place of business with Wolpin’s Smokin Red 3D Brick Self-Adhesive Wallpaper. Suitable for several areas such as living rooms, kitchens, bedrooms, and more, this wallpaper adds a striking and lively element to any home. Five rolls, each measuring 45 x 500 cm, are required to cover a wall measuring 10 feet by 10 feet. Made from premium PVC vinyl, this wallpaper is heat-resistant, waterproof, reusable, and environmentally friendly. Your interiors will have more life and character with the smokin’ red color. Applying is simple—just peel and attach to any dry, clean and flat surface.
Color options – 4
Material – Vinyl (PVC)
Size options – 45 x 500 cm, 45 x 1000 cm
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8. Wolpin Wall Stickers DIY Black Damask Luxury
Wolpin’s Black Damask Luxury Self-Adhesive Wallpaper will improve the visual appeal of your living areas. This elegant damask floral pattern is ideal for bedrooms, living rooms, kitchens, and other spaces as it lends refinement to walls. A wall of ten feet by ten feet needs five rolls, each measuring 45 x 500 cm. This wallpaper is made of premium PVC vinyl and is not only reusable but also heat-resistant, waterproof and environmentally friendly.
Color options – 1
Material – Vinyl
Size options – 45 x 500 cm, 45 x 1000 cm
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9. Wolpin DIY Wallpaper Floral Damask
The luxurious beauty of Wolpin’s Floral Damask Self-Adhesive Wallpaper will transform your room. This elegant damask floral pattern is perfect for bedrooms, living rooms, kitchens, and more. It gives walls a sophisticated touch. Five rolls, each measuring 45 x 500 cm, are required to cover a wall measuring 10 feet by 10 feet. This wallpaper is made of premium PVC vinyl and is not only reusable but also heat-resistant, waterproof, and environmentally friendly.
Color options – 2
Material – Vinyl
Size options – 45 x 500 cm, 45 x 1000 cm
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10. Wolpin Wall Stickers Floral Damask
The classic appeal of Wolpin’s Mustard Yellow Damask Self-Adhesive Wallpaper will elevate your living areas. Kitchens, living rooms, bedrooms, and other spaces are made more ambiance-enhancing by this lovely damask floral pattern. Five rolls, each measuring 45 by 500 cm, are enough to cover a wall that is 10 feet by 10 feet. The wallpaper is made of high-quality PVC vinyl and is not only reusable but also heat-resistant, waterproof, and environmentally friendly. Applying is simple—just peel and apply to any dry, clean, and smooth surface.
Color options – 2
Material – Vinyl
Size options – 45 x 500 cm, 45 x 1000 cm
Buy Wolpin Wall Stickers Floral Damask
11. Wolpin Wallpaper DIY 3D Frames PVC
Wolpin’s Active Blue 3D Frames Self-Adhesive Wallpaper is a multipurpose option that can be used to transform living areas such as kitchens, living rooms, and bedrooms. Five rolls, each measuring 45 x 500 cm, are enough to cover a wall that is 10 feet by 10 feet. This wallpaper is made from high-quality PVC vinyl and is waterproof, heat-resistant, and environmentally friendly. Applying is simple—just peel and apply to any dry, clean, and smooth surface. Easy cutting and measuring are ensured by the grid lines on the back. Wolpin ensures simple removal or reusing without producing gooey residue.
Color options – 5
Material – Polyvinyl Chloride
Size options – 45 x 500 cm, 45 x 1000 cm, 45 x 2000 cm
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12. Wolpin Wood Wallpaper
Wolpin’s Mahogany Brown Wood Self-Adhesive Wallpaper will revitalize your living areas; it’s the ideal replacement for cabinets, refrigerators, furniture, and more. Seven rolls, each measuring 45 x 300 cm, are enough to cover a wall that is 10 feet by 10 feet. Made from premium PVC vinyl, this wallpaper is heat-resistant, waterproof, reusable, and environmentally friendly. Wolpin’s Mahogany Brown Wood Wallpaper will elevate your décor and infuse your house with a sense of warmth and refinement.
Color options – 3
Material – Polyvinyl Chloride
Size options – 45 x 300 cm, 45 x 600 cm, 45 x 1200 cm
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FAQs about wallpapers for wall
Q1. Are wallpapers suitable for all wall types?
Ans. Wallpapers can be applied to various surfaces, including drywall and plaster. However, it’s essential to ensure the wall is smooth, clean, and prepared according to the wallpaper manufacturer’s recommendations.
Q2. Can wallpapers be used in high-moisture areas like bathrooms?
Ans. Moisture-resistant wallpapers are suitable for bathrooms. However, direct water exposure should be avoided. Vinyl or washable wallpapers are recommended for better durability in humid conditions.
Q3. How do I clean and maintain wallpapered walls?
Ans. Cleaning methods vary based on the wallpaper type. Most wallpapers can be lightly dusted or wiped with a damp cloth. Always follow the specific cleaning instructions provided by the manufacturer.
Disclaimer : The above content is non-editorial and produced by a third party advertiser. Times Internet Limited/ Economic Times does not guarantee, vouch for or endorse any of the content or its genuineness. The product prices mentioned in the article are subject to change including depending upon offers given by Amazon.
For those who love winter sports and other year-round outdoor recreation, it’s worthwhile to consider Salt Lake City as a potential home. An attractive destination, full of ski resorts and some of the “greatest snow on earth,” the city and its surrounding area provides mass appeal making it worth getting to know.
Even as you’re busy skiing in the winter and hiking through canyons and over mountains in the summer, you do still need to consider whether the cost of living in Salt Lake City will fit into your budget. At 8.4 percent above the national average, it’s one of the more expensive Utah cities, coming in slightly above Provo and almost 10 percent above Ogden.
Although most likely still affordable to most, here’s how the Salt Lake City cost of living breaks down by the most important necessities.
Housing costs in SLC
One of the biggest cost of living areas impacted by the influx in residents to Salt Lake City, Utah, is the real estate market. At 21.8 percent above the national average, prices have increased by almost 6 percent over last year.
The city’s housing costs, overall, are significantly higher than other Utah metros. They’re 10.6 percent above Provo and 25.3 percent above Cedar City. This puts specific apartment averages a little higher as well — a one-bedroom apartment averages around $1,440 per month, up 8 percent since last year, and a two-bedroom apartment averages $1,760 per month, up 5 percent.
Home prices are also on the rise, up 7.7 percent over last year. This increases the median sale price in Salt Lake City to $550,000.
Apartment hunting in Salt Lake City
There are a lot of options when it comes to finding an apartment in the best neighborhoods in Salt Lake City.
People’s Freeway is a popular area just south of Downtown for renters. A one-bedroom apartment in this laidback neighborhood averages out at $2,032 per month. Also attractive, Downtown Salt Lake gives you that urban feel with ample bars, restaurants and parks. Living here though costs you an average of around $1,900 per month for a one bed.
To stick more closely to the citywide average price, consider looking for rentals in Glendale. This neighborhood isn’t far from Downtown, and a one-bedroom rental here averages out at $1,444 per month.
Food costs in Salt Lake City
This city boasts a lot of diversity when it comes to food, offering up a variety of cuisines both in restaurants and at local grocery stores and global markets. Some of the city’s signature items though include fry sauce, the signature condiment of the city, and pastrami burgers. You’ll also get amazing honey from here. Utah is after all, the Beehive State.
Overall, the cost of living here when it comes to groceries is 3.5 percent above the national average. This is less than a one percent increase over last year, which hopefully means food prices haven’t seen too big of a price hike.
As it stands, you can expect to pay around $4.91 for a pound of ground beef and $2.13 for a dozen eggs. If you’re a coffee drinker, grocery store prices come out to about $5.35, while those who love orange juice in the morning will most likely shell out $4.67 for a container. Many of these prices sit on the higher side when compared with other Utah cities.
Utility costs
The only piece to your cost of living puzzle that’s below average are utilities. In Salt Lake City, they’re 6.4 percent below the national average. This is good news since you’ll most likely run your heater pretty hard once it gets cold. It’s common to see temperatures get below freezing for most of the winter.
Averages are also low enough to knock Salt Lake City out of the most expensive Utah city in this category. It’s still on the high end, but you’ll pay more in Cedar City, where costs are 2.1 percent below the national average.
When it comes to your monthly power bills, these averages mean you can expect to pay about $151 per month in utilities in Salt Lake City, and $166 per month in Cedar City.
Transportation costs
Transportation costs in SLC are 13.1 percent above the national average. This means that potentially the best way to save a little on this particular cost of living piece is to mix things up.
If you need to get around by car, remember to take into account the cost of parking. Salt Lake City has meters that average around $2 per hour. There are also plenty of parking garages that vary in cost.
If you’re able to tap into public transportation, TRAX, an electric light rail system, runs three different lines to get you where you need to go. There are the blue, red and green lines moving through 50 stations, including the airport. The city is also part of a comprehensive bus system with more than 120 routes. Seasonal ski service is another form of public transportation you can take advantage of from November/December through March/April.
Fares include the local bus, TRAX and the city’s streetcar. A one-way fare is $2.50, and a day pass is $5. It’s $85 to purchase a monthly pass.
When the weather is nice, you can save on transportation by taking advantage of the fresh air and going about on foot or by bike. Salt Lake City boasts a 67 walk score and a 73 bike score.
Healthcare costs
Paying for healthcare is never an easy line item in your budget. Costs can vary greatly between people based on your own health needs, prescription costs and history. Although the city itself has healthcare costs that are 2.1 percent above the national average, what you pay out-of-pocket won’t always align with averages.
Salt Lake City healthcare costs are the highest in Utah by a significant amount. Most other major cities are below the national average, with the lowest being Cedar City at 10.1 percent below. Even Provo, the closest city in price to Salt Lake, is still 6.5 percent lower than the national average.
This may impact what you pay when you go see your doctor, although this cost is highly dependent on your insurance coverage. If you don’t have insurance though, expect to spend, on average, $121.40 at the doctor, $94.80 at the dentist and $114.19 when seeing the eye doctor. The average spend in prescription medications, without insurance, reaches up to $510.44.
Goods and services costs
The cost of living in Salt Lake City has many moving parts, but one of the best ones is anything in the goods and services category. These are all the extras you work into your monthly budget. Both fun and functional, it’s what you hope to get to do each month, but are also often willing to cut if money gets tight.
Overall, goods and services in Salt Lake City are 2.2 percent above the national average. This is a 2.2 percent decrease over last year. That’s good news, and may mean prices for things like a movie ticket ($12.95), a haircut ($19.40) or even a bottle of wine ($8.99) are going down.
Taxes
When it comes to budgeting for shopping, it’s good to know that Salt Lake City has a 7.75 percent sales tax rate. That means for every $1,000 you spend on furnishing your new apartment, for example, $77.50 will go straight to taxes.
This rate is calculated by combining the 4.85 percent statewide rate with a county tax, city tax and special tax.
Taxes will hit you again when it’s time to file your annual return, however, the state of Utah has a standard income tax rate of 4.85 percent. You pay this no matter your income.
How much do I need to earn to live in Salt Lake City
Setting aside 30 percent of your gross income is one of the best ways to budget for rent. If you align your estimated monthly costs with this number, you should still be able to afford all the other pieces that make up the cost of living in Salt Lake City.
Working backward, if the average one-bedroom apartment here is $1,475, you’d need to earn at least $57,960 a year to make the 30 percent rule work.
This is good news for many residents, where, the median household income is $63,156, slightly higher than what you’d need.
To best figure out how much you can afford in rent, check out our rent calculator to see what you have to work with.
Free things to do in SLC
Being a state capital, the first free activities that come to mind include touring the Utah State Capitol and the Governor’s Mansion. While you can tour the capitol building any day it’s open, the Governor’s Mansion only has tours on the first Wednesday of every month, from 2 to 4 p.m.
The scenic backdrops around Salt Lake City make the parks all over town another freebie that’s extra special. Some favorites to check out include:
Sugar House Park, the largest park in Salt Lake at 110 acres
Liberty Park, one of the shadiest parks in the city
Memory Grove Park, with its Liberty Bell replica
Canyon Rim Park, a popular festival location
Other popular spots in Salt Lake that are also easy on the wallet include the Clark Planetarium. Admission to the exhibits is always free, though you will have to buy tickets if you’re going to see a special film. For a free annual event, check out the Living Traditions Festival each May. This special event celebrates the city’s diverse ethnic communities and traditions.
Living in Salt Lake City
There are so many good reasons leading people to flock to this beautiful Utah city; what will yours be? From its proximity to the mountains and many national parks to its unique culture and young, vibrant vibes, there’s something for everyone here. It’s no wonder Salt Lake is one of the best cities in Utah.
So, if you’re craving a little snow, with plenty of skiing, and want to live in a fun spot that continues to grow and thrive, it’s time to start planning your move to Salt Lake City today.
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of November 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
Columbus, Ohio, stands out as a stellar city to Buckeyes and folks from all over the Midwest. This article aims to highlight just a few of the many attributes that make Columbus a unique and appealing place to lay down roots, especially for those on the hunt for an apartment in the city. But what is Columbus, Ohio, actually known for? Let’s take a look beyond the stereotypes and find the heart of this underrated gem.
Whether you’re a theater aficionado hoping to stay plugged into the live performance scene or a sports nut looking to spend all Saturday tailgating in a frozen parking lot, Columbus has something special for everyone, including you.
Employment opportunities
Columbus is a hub for employment opportunities in Ohio. It’s a powerhouse in a range of industries, including education, healthcare, technology and finance, just to name a few. The city is the headquarters of several major corporations, like Nationwide Insurance and L Brands. Additionally, The Ohio State University, located here, is not only a major employer but also a center for research and innovation.
The five largest employers in Columbus
Entertainment
Let’s talk entertainment. To put it simply, Columbus has a lot to offer. The city has a thriving arts scene, with performances and exhibitions year-round. Sports nuts can cheer on the Columbus Crew soccer team and Columbus Blue Jackets hockey squad. The city also has a lively nightlife with plenty of bars, clubs and restaurants.
Five great spots to see a live show in Columbus
History
Columbus has an interesting history that is worth getting to know. This history is represented in its architecture and can be found in its many museums. The Ohio History Center and the Columbus Museum of Art house exhibits that showcase the state’s past. The city’s German Village neighborhood, with its well-preserved 19th-century buildings, offers a small but delightful glimpse into its past.
Natural resources
The city is blessed with some beautiful scenery as well. The Scioto River runs through Columbus, providing a picturesque backdrop and opportunities for activities like kayaking and fishing. The city’s parks, like the Franklin Park Conservatory and Botanical Gardens, offer beautiful green spaces for kicking back and unplugging from the urban sprawl.
Food scene
Columbus’s food scene is, in a word, exciting, with a range of cuisines to choose from on any given night. From food trucks to fine dining, the city caters to all tastes. North Market, a local landmark, is a food lover’s paradise with a smorgasbord of culinary masters selling everything from artisan bread to international dishes.
Five of the best bars and restaurants in Columbus
More highlights
Columbus is also known for its commitment to education and community. The presence of The Ohio State University contributes to an atmosphere of learning and intellectual exchange. The city is also involved in more than a few sustainability and green initiatives, showing a strong commitment to environmental stewardship.
Columbus is a cool spot
For anyone moving to Columbus, it’s easy to see that the city offers a whole heck of a lot. From employment opportunities to live entertainment and more, there’s something for everyone in Columbus, you just have to know where to find it.
Columbus, Ohio is a city where history, nature, art and innovation come together, making it an ideal place for renters seeking the perfect apartment in the perfect place.
In the first week of 2024, mortgage rates continued to stick around the mid 6% mark.
The 30-year fixed-rate mortgage averaged 6.62% as of Jan. 4, a slight increase from the 6.61% rate recorded on Dec. 28, according to Freddie Mac‘s Primary Mortgage Market Survey released on Thursday. The 15-year fixed-rate mortgage averaged 5.89% this week, down from 5.93% the prior week. HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate on conventional loans at 6.68% on Thursday, up from 6.56% recorded at the same time last week.
“Between late October and mid-December, the 30-year fixed-rate mortgage plummeted more than a percentage point,” Freddie Mac Chief Economist Sam Khater said in a statement. “However, since then rates have moved sideways as the market digests incoming economic data.”
Given the expectation of rate cuts this year from the Federal Reserve, Khater expects mortgage rates to continue drifting downward.
“While lower mortgage rates are welcome news, potential homebuyers are still dealing with the dual challenges of low inventory and high home prices that continue to rise,” he added.
One year ago this week, the 30-year fixed-rate mortgage stood at 6.48%, while the 15-year rate stood at 5.73%.
Lower rates attract homebuyers back to the market but difficulties persist
According to a Realtor.com survey, 11% of surveyed prospective homebuyers said that they would be able to buy a home if rates went below the 7% threshold. Another 12% of surveyed homebuyers said that rates would need to dip below 6% for them to be able to buy a home. Meanwhile, more than a quarter (28%) said rates would need to dip below 4% to bring them into the market.
Currently, the typical outstanding mortgage rate is still under 4%. This discrepancy is not creating any incentive for sellers to sell their homes in the current rate environment, according to Realtor.com Economic Research Analyst Hannah Jones.
However, the cost of buying a home did come down in December, sending an encouraging signal to the market. As per a Redfin study, the median U.S. mortgage payment was $2,361 during the four weeks ending December 31, down $372 (-14%) from October.
According to Bright MLS Chief Economist Lisa Sturtevant, the lack of inventory remains the main issue, keeping home prices elevated.
“Young buyers are having to delay buying a home as it takes them longer to save for a down payment and they often have to make offers on multiple homes before they are successful,” Sturtevant said. “Many first-time homebuyers have been priced out of the market altogether.”
Sturtevant expects the lack of inventory to remain a challenge this year even as mortgage rates fall.
You can sense it in the ubiquitous “Help Wanted” posters in artsy shops and restaurants, in the ranks of university students living out of their cars and in the outsize percentage of locals camping on the streets.
This seaside county known for its windswept beauty and easy living is in the midst of one of the most serious housing crises anywhere in home-starved California. Santa Cruz County, home to a beloved surf break and a bohemian University of California campus, also claims the state’s highest rate of homelessness and, by one measure based on local incomes, its least affordable housing.
Leaders in the city of Santa Cruz have responded to this hardship in a land of plenty — and to new state laws demanding construction of more affordable housing — with a plan to build up rather than out.
A downtown long centered on quaint sycamore-lined Pacific Avenue has boomed with new construction in recent years. Shining glass and metal apartment complexes sprout in multiple locations, across a streetscape once dominated by 20th century classics like the Art Deco-inspired Palomar Inn apartments.
And the City Council and planning department envision building even bigger and higher, with high-rise apartments of up to 12 stories in the southern section of downtown that comes closest to the city’s boardwalk and the landmark wooden roller coaster known as the Giant Dipper.
“It’s on everybody’s lips now, this talk about our housing challenge,” said Don Lane, a former mayor and an activist for homeless people. “The old resistance to development is breaking down, at least among a lot of people.”
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Said current Mayor Fred Keeley, a former state assemblyman: “It’s not a question of ‘no growth’ anymore. It’s a question of where are you going to do this. You can spread it all over the city, or you can make the urban core more dense.”
But not everyone in famously tolerant Santa Cruz is going along. The high-rise push has spawned a backlash, exposing sharp divisions over growth and underscoring the complexities, even in a city known for its progressive politics, of trying to keep desirable communities affordable for the teachers, waiters, firefighters and store clerks who provide the bulk of services.
A group originally called Stop the Skyscrapers — now Housing for People — protests that a proposed city “housing element” needlessly clears the way for more apartments than state housing officials demand, while providing too few truly affordable units.
City officials say the plan they hope to finalize in the coming weeks, with its greater height limits, only creates a path for new construction. The intentions of individual property owners and the vicissitudes of the market will continue to make it challenging to build the 3,736 additional units the state has mandated for the city.
“We’ve talked to a lot of people, going door to door, and the feeling is it’s just too much, too fast,” said Frank Barron, a retired county planner and Housing for People co-founder. “The six- and seven-story buildings that they’re building now are already freaking people out. When they hear what [the city is] proposing now could go twice as high, they’re completely aghast.”
Susan Monheit, a former state water official and another Housing for People co-founder, calls 12-story buildings “completely out of the human scale,” adding: “It’s out of scale with Santa Cruz’s branding.”
Housing for People has gathered enough signatures to put a measure on the March 2024 ballot that, if approved, would require a vote of the people for development anywhere in the city that would exceed the zoning restrictions codified in the current general plan, which include a cap of roughly seven or eight stories downtown.
The activists say that they are trying to restore the voices of everyday Santa Cruzans and that city leaders are giving in to out-of-town builders and “developer overreach laws.”
The nascent campaign has generated spirited debate. Opponents contend the slow-growth measure would slam on the brakes, just as the city is overcoming decades of construction inertia. They say Santa Cruz should be a proud outlier in a long string of wealthy coastal cities that have defied the state’s push to add housing and bring down exorbitant home prices and rental costs.
Diana Alfaro, who works for a Santa Cruz development company, said many of the complaints about high-rise construction sound like veiled NIMBYism.
“We always hear, ‘I support affordable housing, but just not next to me. Not here. Not there. Not really anywhere,’ ” said Alfaro, an activist with the national political group YIMBY [Yes In My Back Yard] Action. “Is that really being inclusive?”
The dispute has divided Santa Cruz’s progressive political universe. What does it mean to be a “good liberal” on land-use issues in an era when UC Santa Cruz students commonly triple up in small rooms and Zillow reports a median rent of $3,425 that is higher than San Francisco’s?
Beginning in the 1970s, left-leaning students at the new UC campus helped power a slow-growth movement that limited construction across broad swaths of Santa Cruz County. Over the decades, the need for affordable housing was a recurring discussion. The county was a leader in requiring that builders who put up five units of housing or more set aside 15% of the units at below-market rates.
But Mayor Keeley said local officials gave only a “head nod” to the issue when it came to approving specific projects. “Well, here we are, 30 or 40 years later,” Keeley said, “and these communities are not affordable.”
Today, with 265,000 residents, the county is substantially wealthy and white.
An annual survey this year found Santa Cruz County pushed past San Francisco to be the least affordable rental market in the country, given income levels in both places. And many observers say UC Santa Cruz students contend with the toughest housing market of any college town in the state.
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State legislators have crafted dozens of laws in recent years to encourage construction of more homes, particularly apartments. While California has long required local governments to draft “housing elements” to demonstrate their commitment to affordable housing, state officials only recently passed other measures to actually push cities to put the plans into practice.
Regional government associations draw up a Regional Housing Needs Assessment, designating how many housing units — including affordable ones — should be built during an eight-year cycle. The state Department of Housing and Community Development can reject plans it deems inadequate.
For years 2024 to 2031, Santa Cruz was told it should build at least 3,736 units, on top of its existing 24,036.
Santa Cruz and other cities have been motivated, at least in part, by a heavy “stick”: In cases when cities fail to produce adequate housing plans, the state’s so-called “builder’s remedy” essentially allows developers to propose building whatever they want, provided some of the housing is set aside for low- or middle-income families. In cities like Santa Monica and La Cañada-Flintridge, builders have invoked the builder’s remedy to push ahead with large housing projects, over the objections of city leaders.
The Santa Cruz City Council resolved to avoid losing control of planning decisions. A key part of their plan envisions putting up to 1,800 units in a sleepy downtown neighborhood of auto shops, stores and low-rise apartments south of Laurel Street. Initial concepts suggested one block could go as high as 175 feet (roughly 16 stories), but council members later proposed a 12-story height limit, substantially taller than the stately eight-story Palomar, which remains the city’s tallest building.
City planners say focusing growth in the downtown neighborhood makes sense, because bus lines converge there at a transit center and residents can walk to shops and services.
“The demand for housing is not going away,” said Lee Butler, the city’s director of planning and community development, “and this means we will have less development pressure in other areas of the city and county, where it is less sustainable to grow.”
A public survey found support for a variety of other proposed improvements to make the downtown more attractive to walkers, bikers and tourists. Among other features, the plan would concentrate new restaurants and shops around the San Lorenzo River Walk; replace the fabric-topped 2,400-seat Kaiser Permanente Arena, which hosts the Santa Cruz Warriors (the G-league affiliate of the NBA’s Golden State Warriors), with a bigger entertainment and sports venue; and better connect downtown with the beach and boardwalk.
Business owners say they favor the housing plan for a couple of reasons: They hope new residents will bring new commerce, and they want some of the affordable apartments to go to their workers, who frequently commute well over an hour from places such as Gilroy and Salinas.
Restaurateur Zach Davis called the high cost of housing “the No. 1 factor” that led to the 2018 closure of Assembly, a popular farm-to-table restaurant he co-owned.
“How do we keep our community intact, if the people who make it all happen, the workers who make Santa Cruz what it is, can’t afford to live here anymore?” Davis asked.
The city’s plan indicates that 859 of the units built over the next eight years will be for “very low income” families. But the term is relative, tied to a community’s median income, which in Santa Cruz is $132,800 for a family of four. Families bringing home between $58,000 and $82,000 would qualify as very low income. Tenants in that bracket would pay $1,800 a month for a three-bedroom apartment in one recently completed complex, built under the city’s requirement that 20% of units be rented for below-market rents.
The people pushing for high-rise development say expanding the housing supply will stem ever-rising rents. Opponents counter that the continued growth of UC Santa Cruz, which hopes to add 8,500 students by 2040, and a new surge of highly paid Silicon Valley “tech bros” looking to put down roots in beachy Santa Cruz would quickly gobble up whatever number of new units are built.
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“They say that if you just build more housing, the prices will come down. Which is, of course, not true,” said Gary Patton, a former county supervisor and an original leader in the slow-growth movement. “So we’ll have lots more housing, with lots more traffic, less parking, more neighborhood impacts and more rich people moving into Santa Cruz.”
Leaders on Santa Cruz’s political left say new construction only touches one aspect of the housing crisis. Some of the leaders of Tenant Sanctuary, a renters’ rights group, would like to see Santa Cruz tamp down rents by creating complexes owned by the state or cooperatives and enacting a rent control law capping annual increases.
“No matter what they build, we need housing where the price is not tied to market swings and how much money can be squeezed out of a given area of land,” said Zav Hershfield, a board member for the group.
The up-zoning of downtown parcels has won the support of much of the city’s establishment, including the county Chamber of Commerce, whose chief executive said exorbitant housing prices are excluding blue-collar workers and even some well-paid professionals. “The question is, do you want a lively, vital, economically thriving community?” said Casey Beyer, CEO of the business group. “Or do you want to be a sleepy retirement community?”
Just days after the anti-high-rise measure qualified for the March ballot, the two sides began bickering over what impact it would have.
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Lane, the former mayor, and two affordable housing developers wrote an op-ed for the Lookout Santa Cruz news site that said the ballot measure is crafted so broadly it would apply to all “development projects.” They contend that could trigger the need for citywide votes for projects as modest as raising a fence from 6 feet to 7 feet, adding an ADU to a residential property or building a shelter for the homeless, if the projects exceed current practices in a given neighborhood.
The authors accused ballot measure proponents of faux environmentalism. “If we don’t go up,” they wrote, “we have less housing near jobs — and more people driving longer distances to get to work.”
The ballot measure proponents countered that their critics were misrepresenting facts. They said the measure would not necessitate voter approval for mundane improvements and would come into play in relatively few circumstances, for projects that require amendments to the city’s General Plan.
While not staking out a formal position on the ballot measure, the city’s planning staff has concluded the measure could force citizen votes for relatively modest construction projects.
The two sides also can’t agree on the impact of a second provision of the ballot measure. It would increase from 20% to 25% the percentage of “inclusionary” (below-market-rate) units that developers would have to include in complexes of 30 units or more.
The ballot measure writers say such an increase signals their intent to assure that as much new housing as possible goes to the less affluent. But their opponents say that when cities try to force developers to include too many sub-market apartments, the builders end up walking away.
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Santa Cruz’s housing inventory shows that the city has the potential to add as many as 8,364 units in the next eight years, when factoring in proposals such as the downtown high-rises and UC Santa Cruz’s plan to add about 1,200 units of student housing. That’s more than double the number required by the state. But the Department of Housing and Community Development requires this sort of “buffer,” because the reality is that many properties zoned for denser housing won’t get developed during the eight-year cycle.
As with many aspects of the downtown up-zoning, the two sides are at odds over whether incorporating the potential for extra development amounts to judicious planning or developer-friendly overkill.
The city’s voters have rejected housing-related measures three times in recent years. In 2018, they decisively turned down a rent control proposal. Last year, they said no to taxing owners who leave homes in the community sitting empty. But they also rejected a measure that would have blocked a plan to relocate the city’s central library while also building 124 below-market-rate apartment units.
The last time locals got this worked up about their downtown may have been at the start of the new millennium, when the City Council considered cracking down on street performers. That prompted the owner of Bookshop Santa Cruz, another local landmark, to print T-shirts and bumper stickers entreating fellow residents to “Keep Santa Cruz Weird.”
Santa Cruzans once again are being asked to consider the look and feel of their downtown and whether its future should be left to the City Council, or voters themselves. The measure provokes myriad questions, including these: Can funky, earnest, compassionate Santa Cruz remain that way, even with high-rise apartments? And, with so little housing for students and working folks, has it already lost its charm?
The surge in inflation may have slowed, but the cost of everyday items is still high enough to put a strain on your travel budget. If winter already has you dreaming of a luxury beach vacation, it’s worth finding a destination where the U.S. dollar delivers more bang for your buck. Fortunately, there are several options around the world where five-star accommodations are surprisingly affordable, even without using travel rewards.
Travel search engines Skyscanner and Kayak both analyzed data on their platforms to rank the cities where you can book the cheapest five-star hotels. How cheap are we talking? All of the cities in this combined list feature five-star hotels for less than $200 per night.
Skyscanner looked at the average price per night for a five-star hotel room booked on its portal from January through June 2023. Kayak looked at average prices based on searches conducted across all its portfolio domains from July 2022 through June 2023 for travel from November 2022 through October 2023.
Here are the top five cities to consider for your next luxury getaway.
1. Kuala Lumpur, Malaysia
The Malaysian capital topped Skyscanner’s list at $102 a night for five-star accommodation and came in second on Kayak’s list at $175 a night. Five-star hotels in the city include chains such as Hyatt and Hilton, as well as high-end properties such as the St. Regis and Banyan Tree.
Known for its delicious cuisine, cultural attractions, street food markets, shopping, nightlife, skyscrapers and theme parks, Kuala Lumpur offers a mix of luxury and budget-friendly activities for all travelers.
2. Hoi An, Vietnam
This ancient port city on Vietnam’s central coast offers five-star luxury for $117 per night, according to Skyscanner data. Boutique luxury hotels include Little Riverside, Anantara and Amina Lantana.
Because of its trading history, Hoi An has a unique blend of Japanese, Chinese and European influences. At this offbeat Vietnam destination, you can enjoy everything from beautiful architecture in the Old Town neighborhood to seventh-century temples, farm-fresh cuisine, lush countryside and pristine beaches.
3. Tirana, Albania
The Albanian capital comes in third on Skyscanner’s list, with five-star accommodations available for $140 per night. Although not as popular as its European neighbor Greece, Albania is slowly opening up to more tourism.
Tirana, the largest city, is a haven for art and history lovers, featuring a bustling town square, an underground Cold War bunker converted into an art museum, mosques, palaces and fortresses.
Although it has a few big hotel chains, including a Marriott and a Radisson, most of Tirana’s five-star hotels are lesser-known, such as the Xheko Imperial and Mak Albania.
4. Chiang Mai, Thailand
It’s no surprise that Thailand is a popular destination for travelers looking for both luxury and affordability. At $146 per night according to Skyscanner data, Chiang Mai boasts a large collection of five-star properties.
Marriott, InterContinental and Shangri-La are a few of the big hotel chains with locations in the northern Thai city. High-end boutique hotels include Chala Number 6, Cross Chiang Mai Riverside and Villa Mahabhirom.
The mountainous city of Chiang Mai offers a different landscape from Thailand’s famous beach destinations. Attractions include the country’s highest peak at Doi Inthanon National Park, Buddhist temples, botanical gardens and traditional villages against a backdrop of rice fields.
5. Hammamet, Tunisia
Kayak’s top affordable five-star destination is Hammamet, a beach town in the African country of Tunisia. A luxury stay here will set you back $151 a night, according to Skyscanner data.
Sheraton and Radisson Blu are two of the only chain hotels in this town. Luxury properties include The Sindbad, Medina Solaria & Thalasso, La Badira and Les Orangers.
Located about 40 miles from the capital of Tunis, Hammamet’s namesake beach features sparkling blue waters suitable for snorkeling and diving. History lovers can soak in cultural attractions from the ancient medina, a maze of alleyways bustling with shops and Islamic architecture, to fortresses and mosques. There’s even something for amusement park enthusiasts: Carthageland, a theme park inspired by the Carthage empire.
Other cities where you can find affordable luxury
Here are the other destinations that made it into Kayak’s top five:
Bogotá, Colombia: $192 per night.
Colombo, Sri Lanka: $210 per night.
Side, Turkey: $212 per night.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024, including those best for:
SoMa San Francisco, which stands for South of Market San Francisco, represents the most central part of the city. The area is home to techies, Michelin-starred restaurants and high-rise apartment buildings. The location and close proximity to downtown, public transportation, entertainment and restaurants make SoMa a highly walkable and convenient place to live.
Where is SoMa in San Francisco?
As its name suggests, SoMa is nestled south of San Francisco’s main street, also known as Market Street. The area includes a few smaller neighborhoods as well, including South Beach, Yerba Buena and Rincon Hill.
SoMa stretches all the way down to 11th Street, and along the way, you can find plenty of shopping, dining, museums and San Francisco’s famous Moscone Center. The neighborhood is also adjacent to Embarcadero, which is the city’s famous waterfront that faces the Bay Bridge and further down, the city’s tourist attraction, Fisherman’s Wharf.
Source: Rent.
Like many neighborhoods in San Francisco, SoMa has withstood earthquakes, financial fallout and now a pandemic. It has survived and thrived and is now a destination for both techies and tourists.
SOMA has about 12,000 residents, compared to the general San Francisco population of 881,549.
Studio average rent: $3,040
One-bedroom average rent: $3,635
Two-bedroom average rent: $4,692
Walk score: 97
Bike score: 83
Transit score: 85
Living in SoMa San Francisco
SoMa represents a complete spectrum of San Francisco, with accessibility and comforts of the city just a short walk away. Here are a few things to know about living in SoMa San Francisco.
Crime and safety in SoMa
Like parts of any big city, SoMa is perfectly safe to walk around during the day. Because the area is always bustling with lots of people and activity, it’s considered safe. There are, however, parts of Market Street that can get dicey, including going past 6th Street.
You may encounter some of San Francisco’s homeless population, which tends to gather in this area. If you need to go through this area at night, the best thing to do would be to either avoid Market Street or take public transportation if you need to go beyond 6th Street.
Entertainment and shopping in SoMa
If you’re in search of shopping or entertainment, SoMa is trendy and has plenty to offer. The most popular destination is Union Square and San Francisco’s Westfield Centre. At this mall you’ll find high-end brands like Bloomingdales and Nordstrom. The shopping continues in the outdoor part of Union Square, with the famous cable trolley available to ride, right outside of The Gap.
For more of a local shopping experience, there’s also the city’s beloved Alexander Book Company, Foto-Grafix Books and The Green Arcade.
Like the rest of the city, SoMa has its fair share of parks and places to relax. Locals enjoy the lawn outside of the Metreon, Salesforce Park and — just a short walk away — the Embarcadero.
Dining and restaurants
Although the pandemic has caused a shift in the way restaurants serve their food, there’s still plenty of ways to enjoy a nice takeout meal and beverage from local eateries and artisan coffee shops. The neighborhood’s dining scene offers delicious food at every price point, craft cocktail bars and incredible bakeries.
Here’s a glimpse into SoMa’s food and drink scene:
The Bird: There’s often a line out the door for this hotspot that offers fried chicken and slaw. Top it off with a beer and curly fries.
Dottie’s True Blue Cafe: If brunch is more your thing, Dottie’s is a staple in SoMa. Get a ginormous order of pancakes and settle in at this San Francisco institution.
Birdsong: For some fine dining and a look at an open kitchen, check out Birdsong. The chefs prepare delicious chicken-based meals in front of you. Try any of the perfectly crispy fried chicken sandwiches and don’t forget to eat the huge flakes of batter that fall out of the sandwich with each bite.
The View Lounge: For one of the best hotel rooftops in the U.S., make your way to the 39th floor of the Marriott Marquis Hotel in SoMa. It’s a fantastic way to soak up the city’s stunning views with a delicious cocktail and light meal.
Transportation
Fact: The trolley is definitely not the best way to get around San Francisco but is a blast to ride.
One of the best things about being in SoMa is that you have any number of public transportation options to get to your destination. From jumping on the ferry from Embarcadero to get across the bay to Marin or taking BART to shuttle down to the East Bay, SoMa offers it all.
If you have a car, you can easily hop on the 101 Freeway or take Interstate 80 to get to the East Bay or Sacramento.
The main forms of transportation include:
Bus: 14, 14R, 5, KBUS, LBUS, NBUS
MUNI: To get anywhere within the city, including Ocean Beach and Dogpatch
BART: Subway that goes south to SFO or to the East Bay
Ferry: East Bay or north of San Francisco, such as Sausalito or Marin
Scooters and public bikes: They’re everywhere!
Education
Although for the moment, many schools are offering online courses only, there are a number of continued educational institutions housed in the heart of SoMa.
The SoMa area offers a number of universities, art schools, and trade colleges that are conveniently located for people living in the area. These include:
The California Institute of Studies (CIIS)
San Francisco State University Downtown
Golden Gate University
City College of San Francisco – Downtown Center
Academy of Art University
Wharton School – University of Pennsylvania
Weather in SoMa
SoMa has arguably the best weather in San Francisco — which is known for its micro-climates. Generally speaking, SoMa is slightly warmer and has more sun than other parts of the city, such as Ingleside or Oceanview, which both get an average of 12 hours of fog, daily! The fog is such a prominent force in the city, it’s called Karl and has its own Twitter account, @KarlTheFog.
San Francisco weather is mild, with moist winters, dry summers and an average temperature around 60 degrees. If you’re not familiar with San Francisco weather, prepare for foggy, chilly summers. The summer doesn’t really start until September, also known as San Francisco’s Indian Summer.
10 things to do in SoMa
From shopping, checking out local eateries, and soaking in the picturesque waterfront, there is so much to do and see in SoMa.
SFMOMA: Spend a day browsing through 30,000 pieces of modern artwork across seven gallery floors and 45,000 square feet of free, art-filled public space open to all.
Press Club: In the mood for a full-bodied glass of wine with dinner? Count on Press Club to offer an incredible selection of tastings and wines.
Yerba Buena Gardens: Take advantage of San Francisco’s fantastic weather by spending an afternoon on the lush green grass.
Salesforce Park: Stroll along a 5.4-acre elevated park, four stories above the streets on top of the Salesforce Transit Tower. Enjoy the view and check out the botanical gardens and public art.
Oracle Park: This is where the Giants play! Even if you’re not into baseball games, you’ll still appreciate the beautiful view of the bay and can take a behind-the-scenes tour of the stadium.
Alice Street Community Gardens: This is a small but surprisingly serene urban garden that is kept and manicured by seniors and younger disabled people from the neighborhood. Each person gets a plot for creative expression.
California Historical Society: This organization has galleries that showcase the history of California through photography, manuscripts, posters and artwork.
Walk the Barbary Coast: This is a four-mile walking tour connecting 20 historic sites and local history museums. There are approximately 180 bronze medallions and arrows embedded in the sidewalk mark the trail.
Deli Board: This SoMa staple will satisfy your sandwich cravings with plenty of surprises to boot. The menu changes daily and includes piles of delicious meats spilling out of fluffy, hot rolls.
Ice skate or bowl: Near the Yerba Buena Center for the Arts, there’s a year-round ice skating rink and bowling center.
Finding an apartment in SoMa
Finding an apartment in SoMa starts with your budget for rent and what kind of building you want to live in. On smaller side streets you’ll occasionally find a Victorian or a modern condominium. Brick walk-ups are common, as are high-rises—these are more common the further west you go.
SoMa isn’t the most car-friendly part of San Francisco, but the newer high rises offer parking, usually with a monthly fee.
Convenience is the main theme when living in SoMa, but if a balcony overlooking a beautiful, innovative city appeals to you, then it may just be your next place to live.
Rent prices are based on a rolling weighted average from Apartment Guide and Rent.’s multifamily rental property inventory of one-bedroom apartments. We pulled our data in May 2021, and it goes back for one year. Our team uses a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets.
The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.
Claire Tak is a writer who previously served as head of content and chief editor for FinTech companies in New York and San Francisco. Her work has appeared on FOX Business, Bloomberg and Forbes. She writes regularly about travel, money and being a good human. Traveling and snowboarding are her two favorite things to do.
The cost of living in Boston is one of the highest in the country at 50.8 percent above the national average.
Prices are a bit higher all around, but Boston costs less in general than major cities like New York City’s Manhattan or San Francisco. Other cities, like Seattle and Los Angeles, are more Boston’s equal when it comes to the overall cost of living.
Monthly costs really vary depending on where you live in Boston and what you love to do. If you need tickets to every Red Sox game, living expenses are going to go up. If you can’t resist the pull of the North End for dinner every Saturday night, your need a bigger budget.
Regardless of your indulgences, though, the cost of living in Boston is manageable if you understand what you’re getting into before you make the move. Check out how all the estimated monthly costs break down to see if this amazing but expensive city is right for you.
Boston housing prices
As is the case with other major metros across the U.S., the housing market — both for-sale and for-rent — is hot in Boston, with no signs of slowing down. Rentals are in demand, and with the huge influx of college students every fall, affordable units are hard to find.
Housing costs in Boston are 120.9 percent higher than the national average. That puts monthly rent up there with cities known for outrageous prices like San Francisco and New York City.
Although in Boston, rents only increased a little over last year. Still, the total price is high for both one-bed and two-bed units. An average one-bedroom apartment will cost you $3,922 per month, up 9 percent from last year. A two-bedroom comes in at $4,952 per month, up 5 percent over last year.
Of course, living further away from the city center helps bring prices down, but it’s still a challenge, especially as a single person, to find solid housing. You might have to settle for something a little small, or look for monthly rents slightly outside the city, but close to public transportation.
If you’re brave enough to try to buy in Boston, the median home price is $796,250, up 9.1 percent over last year. Homes stay on the market for about three weeks, which is not very long.
Boston cost by neighborhood
There are plenty of amazing neighborhoods to live in throughout Boston, and you can find one that works for you at almost any price point.
Of course, the most expensive neighborhoods are in the very heart of the city. They’ll give you a sweet address and put you in proximity to everything, but they’ll heavily impact your cost of living index. An average one-bedroom right in Downtown has a monthly cost of $4,463. Getting closer to Boston Common, Back Bay East is $4,383 for an average one-bed, an 83 percent price increase over last year.
Getting closer to the city’s average one-bed cost is Fenway-Kenmore and the South End.
Boston University and Northeastern University students flock to the cheaper neighborhoods once they move off campus for housing. They’re most interested in places like North Allston with one-beds at $2,175. They’ll even venture outside of the Boston metropolitan area to find a deal in places like Brighton.
Boston food prices
Boston has evolved into a foodie’s paradise over the last decade. In addition to its revered Irish pubs, lobster rolls and clam chowder, James Beard-award-winning chefs have opened esteemed eateries in just about every corner of the city specializing in a wide variety of cuisines.
Restaurant meals in Boston can vary, so there are affordable options for food. At an inexpensive restaurant, your average meal only costs $20, but if you’re on a date, a three-course meal for two rounds out to $83.
When it comes to groceries and home cooking, you can expect to spend slightly more as Boston’s food costs are 16 percent higher than the national average. That’s about the same as where prices stood last year.
How does this translate when you’re looking at food expenses? A steak is going to run you about $17.92. A half-gallon of milk and a box of cereal is $8.35. That six-pack of beer (preferably Sam Adams) rings out to about $10.99.
All of these are affordable items, but with a long grocery list, the money totals up fast. It’s why budgeting is so important to maintaining a solid quality of life.
Boston utility prices
Boston gives you all four seasons in the extremes. From red-hot summers to windy and snowy winters, you’ll definitely get some variety weather-wise.
This also means utilities are a big item on your list of expenses. Though many apartments you rent don’t come with central air, they all have heaters that you’ll run full blast through most of the winter. For AC, opt for a window unit, even though it will raise your electricity bill. In an average size apartment, you’ll need at least one per bedroom (a fan could work in the living area).
With all this, your utility cost in Boston is 23.5 percent above the national average. This is pretty on par with most New England cities. Your energy bill each month will cost you around $250.47.
Boston transportation prices
One of the great things about living in Boston is you don’t need a car. Public transit via the Massachusetts Bay Transportation Authority (a.k.a. the MBTA or The T) is so convenient. It also makes transportation expenses really a combination of traveling on The T and car care, if you decide to own one. Overall, transportation costs are 21.1 percent above the national average.
Being a driver in Boston does come with a hefty expense. Most apartments don’t have parking spaces as part of the rent, so you have to pay extra. Parking is almost always paid either in a garage or via meters, and any free spots fill up quickly and are hard to find.
Renting a monthly parking spot in Boston will cost you around $300 on average, and metered parking ranges from $2 to $3.75 per hour.
However, once you park in the city, it’s easy to cut back on transportation costs thanks to a highly walkable layout in this eastern Massachusetts town. All in all, Boston ranks high in terms of walking (an 89 walk score,) and is pretty friendly for bike riders (77 bike score), as well.
The Massachusetts Bay Transportation Authority
Bostonians may not love the MBTA, but they sure take advantage of The T when living in or near the city. This intricate subway system goes everywhere thanks to the Blue, Red, Green and Orange lines. There are also buses and the Silver Line to get locals everywhere a train doesn’t already go.
A one-way subway ride is $2.40, and bus fares are $1.70 per way. Using a CharlieTicket is the easiest way to ride, and this pass gives you access to commuter rail trips and ferry rides, as well.
Boston healthcare prices
Although it’s difficult to nail down specific healthcare costs because individuals have their own healthcare needs, the healthcare system in Boston is top tier.
The overall cost of healthcare in the city is 17 percent higher than the national average, a 2.5 percent dip over last year. This is less than in other large cities like Chicago, San Francisco and Seattle.
Even with this piece of your cost of living on the high side, individual medical visits aren’t too bad, even without insurance.
Doctor’s visits are around $182.50
Eye doctor visits are around $115.88
Dentist visits are around $131.50
And, with good insurance coverage, these prices go down even more, allowing a person to afford the care they need to stay healthy.
Boston goods and services prices
When it comes to quality of life, goods and services are a huge piece. This is everything in your budget each month you want to do but could live without if it became necessary.
Overall, goods and services are 19.9 percent above the national average. This means entertainment costs are usually higher for all the fun things you do out in the city like waiting to grab a pizza ($12.99) in the North End or going to see a movie ($14.96) off Boston Common.
Even with Boston’s higher prices, there are plenty of things to do in the city for free. Wander through the Public Garden or walk the Freedom Trail. It doesn’t cost anything to take in the history of this amazing place.
Taxes in Boston
Massachusetts has a state-wide sales tax only. Individual cities cannot add on to it. This means you’ll pay 6.25 percent on things you buy everywhere in the state. It also means that when you wrack up a $1,000 bill shopping on Newbury Street or around Quincy Market at Faneuil Hall, $62.50 goes straight to taxes.
To make Boston life a little easier, the state offers an annual sales tax holiday, usually in August. This is a tax-exempt weekend for retail items and a big shopping weekend for many.
How much do I need to earn to live in Boston?
Taking it from the experts, 30 percent of your salary should go toward rent. But, when talking about the cost of living in Boston, that number gets pretty high. Taking the average one-bedroom rent as the base ($3,863), you’d need to have an average salary of $154,520.
Even with a solid job market, the median household income is only $76,298. Most likely, your average salary is not going to make it possible to live alone in the heart of the city. But, you’ve got options. To get specific, use our rent calculator to compare your current budget and savings with the cost of living averages.
Living in Boston
Living in Boston certainly comes with the expectation you’ll shell out a lot of money to settle in. But, this is a place so worth considering. There are passionate people, a booming business climate, countless cultural institutions and world-class colleges and universities.
This information and more are things that every Bostonian knows. It’s what you’ll discover if you can make the cost of living in Boston work within your budget.
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of August 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.