Average rent: $1,451 per month for a one-bedroom apartment
Median home sale price: $564,000
Public transit: Capital Metropolitan Transportation Authority (CapMetro) provides bus and rail services throughout the city
Public parks: Over 300 parks and green spaces for recreation and relaxation
Annual tourists: Approximately 30 million visitors each year
Restaurants: Over 4,000, offering a variety of cuisines from around the world
1. Pro: Thriving music scene
Austin is famously known as the “Live Music Capital of the World.” The city boasts a vibrant music scene with numerous live music venues, ranging from small bars and clubs to large concert halls. Events like South by Southwest (SXSW) and Austin City Limits (ACL) draw international attention and provide endless entertainment options for residents and visitors alike. The city’s rich musical heritage and active live music scene make it a haven for music lovers.
2. Con: High housing costs
While Austin offers many amenities and a high quality of life, housing costs are relatively high. Housing costs have risen significantly and are now about 9% more than the national average. The median sale price for a home in Austin is around $564,000, and the average rent for a one-bedroom apartment in Austin is about $1,451 per month. Residents need to budget carefully to manage these expenses effectively.
3. Pro: Strong job market
Austin has a robust and diverse job market, particularly in the technology, healthcare, and education sectors. The city is home to numerous tech companies, including major players like Dell, Apple, and Google, earning it the nickname “Silicon Hills.” The presence of these companies, along with a growing number of startups, provides ample job opportunities and contributes to the city’s economic stability. Additionally, the University of Texas at Austin is a major employer and fosters a strong academic environment.
Top employers in Austin
IBM
National Instruments
Ascension Seton
Amazon
Samsung Austin Semiconductor
4. Con: Hot summers
Austin experiences hot summers, with temperatures often soaring into the 90s and sometimes reaching triple digits. The intense heat can be uncomfortable and limit outdoor activities during the peak summer months. Residents need to be prepared for the weather with proper cooling systems and hydration strategies. While the city enjoys mild winters, the summer heat can be a challenge for those not accustomed to such conditions.
5. Pro: Affordable cost of living
Despite high housing costs, the overall cost of living in Austin is about 1% lower than the national average. Utilities are 4% lower, groceries are 2% less expensive, transportation costs are 10% below average, and healthcare costs are 2% less than the national average. These lower costs in other areas can help balance out the high housing expenses, making it easier for residents to manage their overall budgets.
6. Pro: Outdoor recreational activities
Austin offers a wide range of outdoor recreational activities, thanks to its extensive park system and proximity to natural attractions like the Hill Country. Residents can enjoy hiking, biking, kayaking, and swimming in the numerous parks and natural areas. The city’s mild winters and long summers make it possible to enjoy outdoor activities year-round, and the diverse landscape provides opportunities for both leisurely and adventurous pursuits.
Popular outdoor spots in Austin
Zilker Park
Lady Bird Lake
Barton Springs Pool
McKinney Falls State Park
Mount Bonnell
7. Pro: Culinary diversity
Austin features a diverse culinary scene, with a wide range of restaurants offering cuisines from around the world. From farm-to-table establishments and fine dining to food trucks and casual eateries, the city has something to satisfy every palate. Austin is particularly known for its barbecue and Tex-Mex cuisine, which are integral parts of the local food culture. Additionally, food festivals, such as the Texas Monthly BBQ Fest and the Austin Food + Wine Festival, showcase the city’s culinary creativity and provide opportunities for residents to explore new flavors.
Popular restaurants in Austin
Franklin Barbecue
Uchi
Odd Duck
Veracruz All Natural
Launderette
8. Con: Limited public transportation options
While CapMetro provides essential bus and rail services, the public transportation system in Austin is limited compared to larger metropolitan areas. The city has a transit score of 35, a walk score of 42, and a bike score of 54. While biking and walking are viable options for many residents, those who rely on public transit may find the system lacking in convenience and coverage, particularly in suburban areas. Investing in a personal vehicle is often necessary for more extensive commuting.
9. Pro: Cultural and arts scene
Austin boasts a rich cultural and arts scene, with numerous theaters, galleries, and music venues. The city is home to the Blanton Museum of Art, the Contemporary Austin, and the Zach Theatre. Additionally, Austin hosts a variety of cultural festivals and events throughout the year, such as the South by Southwest (SXSW) festival, the Austin City Limits Music Festival, and the Pecan Street Festival. These events celebrate the city’s artistic diversity and provide residents with ample opportunities for cultural enrichment and entertainment.
10. Pro: Strong sense of community
Austin is known for its strong sense of community and civic engagement. Residents are often involved in neighborhood associations, community events, and local initiatives that promote a sense of belonging and collaboration. The city’s diverse neighborhoods, such as South Congress, East Austin, and Hyde Park, each have their own unique character and charm, fostering tight-knit communities where residents support one another. This strong community spirit enhances the quality of life and makes Austin a welcoming place to live.
11. Con: Rising property values and housing demand
As Austin continues to grow and develop, rising property values and increased demand for housing have become significant concerns in many neighborhoods. These trends have led to the displacement of long-time residents and changes in the character of historic communities. The increasing property values can result in a loss of cultural diversity and affordable housing options in certain areas. Efforts are being made to address these issues through community initiatives and affordable housing programs, but the rapid growth and development remain challenges for the city.
12. Pro: Sports and entertainment
Austin has a vibrant sports and entertainment scene, with professional teams, collegiate athletics, and numerous live events. Residents can cheer on Austin FC, the city’s Major League Soccer team, at the state-of-the-art Q2 Stadium. The University of Texas at Austin also has a strong athletic program, with popular sports like football, basketball, and baseball. Additionally, Austin’s music venues, theaters, and event spaces host a wide range of concerts, performances, and festivals, providing a rich array of entertainment options for residents.
Welcome to the vibrant city of Minneapolis, where the beautiful Mississippi River flows and the Twin Cities’ unique charm shines through. Known for its thriving arts and culture scene, diverse neighborhoods, and stunning natural landscapes, Minneapolis offers a dynamic and welcoming environment for residents. So whether you’re searching for the perfect apartment in Minneapolis or a cozy home for rent in a quiet suburb, you’ve come to the right place.
In this ApartmentGuide article, we’ll cut to the chase, breaking down the pros and cons of living in Minneapolis. Let’s get started and see what awaits in this vibrant and lively city.
Fast facts about living in Minneapolis
Population: Approximately 430,000 residents
Average rent: $1,435 per month for a one-bedroom apartment
Median home sale price: $351,000
Public transit: Metro Transit provides bus, light rail, and commuter rail services throughout the city
Public parks: Over 180 parks and green spaces for recreation and relaxation
Languages spoken: Multiple, reflecting the city’s diverse population
Annual tourists: Approximately 31 million visitors each year
Restaurants: Over 1,900, offering a variety of cuisines from around the world
1. Pro: Affordable cost of living
The cost of living in Minneapolis is about 6% lower than the national average, making it a more affordable place to live compared to other major cities. Housing costs, in particular, are 14% less than the national average, with the median sale price for a home in Minneapolis around $351,000 and the average rent for a one-bedroom apartment in Minneapolis about $1,435 per month. Utilities are about 5% lower than the national average, groceries are approximately 1% lower, and healthcare costs are about 3% less. This affordability makes Minneapolis an attractive option for individuals looking to enjoy a vibrant urban lifestyle without breaking the bank.
2. Con: High property taxes
Property taxes in Minneapolis can be relatively high, adding to the overall cost of homeownership. The city’s property tax rate is around .99%, which aligns with the national average. This higher rate can significantly impact homeowners’ budgets. While these taxes contribute to funding essential services and maintaining the city’s infrastructure, they can be a financial burden for some residents. For a home valued at $320,000, this translates to an annual property tax bill of approximately $3,168. Prospective homeowners need to factor in property taxes when planning their budgets.
3. Pro: Robust economy
Minneapolis boasts a robust and diverse economy, with strong job opportunities in various sectors such as finance, healthcare, technology, and manufacturing. The city is home to several Fortune 500 companies, including Target, U.S. Bancorp, and General Mills. Additionally, the Twin Cities area, which includes Minneapolis and its neighboring city, St. Paul, has a thriving startup scene and is known for its innovation and entrepreneurship. This economic diversity provides residents with a wide range of career opportunities and job stability.
Top employers in Minneapolis
Target Corporation
U.S. Bancorp
General Mills
Medtronic
University of Minnesota
4. Con: Harsh winters
Minneapolis is known for its harsh winters, with temperatures often dropping below freezing and significant snowfall. The winter season can be long and challenging, requiring residents to be well-prepared for cold weather and icy conditions. While the city is equipped to handle snow removal and winter maintenance, the extreme cold can be a downside for those who prefer milder climates. Residents often invest in high-quality winter clothing and vehicles with good traction to navigate the snowy roads.
5. Pro: Abundance of green spaces
Minneapolis is renowned for its extensive park system and abundance of green spaces. The city features over 180 parks, providing ample opportunities for outdoor activities such as hiking, biking, picnicking, and kayaking. The Chain of Lakes, including Lake Harriet, Lake Calhoun (Bde Maka Ska), and Lake of the Isles, offers beautiful scenic spots for recreation and relaxation. Minneapolis’ commitment to maintaining its parks and green spaces makes it an ideal place for nature lovers and outdoor enthusiasts.
6. Con: Limited housing inventory
Minneapolis has experienced a tight housing market in recent years, with limited inventory and high demand driving up prices. This can make it challenging for prospective homebuyers to find affordable housing options. The competitive market also means that homes can sell quickly, requiring buyers to act fast and be prepared with financing. While there are efforts to increase housing availability, the current shortage can be a significant obstacle for those looking to purchase a home in the city.
7. Pro: Rich cultural scene
Minneapolis boasts a rich cultural scene, with numerous theaters, museums, and music venues. The city is home to the renowned Guthrie Theater, the Walker Art Center, and the Minneapolis Institute of Art. Additionally, Minneapolis has a vibrant music scene, with a history rooted in genres such as rock, hip-hop, and Prince’s signature sound. The city’s cultural diversity is celebrated through various festivals and events, such as the Minnesota Fringe Festival and the MayDay Parade, offering residents ample opportunities for artistic and cultural engagement.
8. Pro: Strong sense of community
Minneapolis is known for its strong sense of community and civic engagement. Residents are often involved in neighborhood associations, community events, and local initiatives that promote a sense of belonging and collaboration. The city’s diverse neighborhoods, such as Uptown, Northeast, and Powderhorn, each have their own unique character and charm, fostering tight-knit communities where residents support one another. This strong community spirit enhances the quality of life and makes Minneapolis a welcoming place to live.
9. Con: Construction and roadwork
Minneapolis is undergoing significant development and infrastructure improvements, which can lead to frequent construction and roadwork. While these projects aim to enhance the city’s facilities and transportation networks, they can cause temporary disruptions and inconveniences for residents. Road closures, detours, and construction noise can impact daily life and commute times. Staying informed about ongoing projects and planning alternative routes can help mitigate some of these challenges.
10. Pro: Culinary diversity
Minneapolis features a diverse culinary scene, with a wide range of restaurants offering cuisines from around the world. From farm-to-table establishments and fine dining to food trucks and casual eateries, the city has something to satisfy every palate. Minneapolis is known for its craft beer scene, with numerous breweries offering locally brewed beers. Additionally, food festivals, such as the Twin Cities Burger Battle and the Minnesota State Fair, showcase the city’s culinary creativity and provide opportunities for residents to explore new flavors.
Popular restaurants in Minneapolis
Spoon and Stable
Hai Hai
The Bachelor Farmer
Young Joni
Surly Brewing Company
11. Con: Limited public transportation options
While Metro Transit provides essential bus and light rail services, the public transportation system in Minneapolis is limited compared to larger metropolitan areas. The city has a transit score of 55, a walk score of 71, and a bike score of 83. While biking and walking are viable options for many residents, those who rely on public transit may find the system lacking in convenience and coverage, particularly in suburban areas. Investing in a personal vehicle is often necessary for more extensive commuting.
12. Pro: Healthcare facilities
Minneapolis is home to several top-notch healthcare facilities, offering high-quality medical care to residents. The city has a number of renowned hospitals and clinics, including the University of Minnesota Medical Center, Abbott Northwestern Hospital, and Hennepin Healthcare. These institutions provide comprehensive healthcare services and are known for their research and innovation in medical treatments. Access to excellent healthcare enhances the overall quality of life for residents.
13. Pro: Sports and entertainment
Minneapolis has a vibrant sports scene, with professional teams in football, baseball, basketball, and hockey. Residents can cheer on the Minnesota Vikings (NFL), the Minnesota Twins (MLB), the Minnesota Timberwolves (NBA), and the Minnesota Wild (NHL). The city’s sports venues, such as U.S. Bank Stadium and Target Field, host a variety of events, including concerts and other entertainment. Additionally, Minneapolis has numerous theaters, music venues, and art galleries, providing a rich array of entertainment options for residents.
Looking for ways to make money by driving? There are many opportunities to make money just by driving your car. Whether you prefer delivering packages, giving rides, or even doing tasks for others, there are many gig apps and services that can help you get started. A lot of people are earning good money just…
Looking for ways to make money by driving?
There are many opportunities to make money just by driving your car. Whether you prefer delivering packages, giving rides, or even doing tasks for others, there are many gig apps and services that can help you get started.
A lot of people are earning good money just by using their own cars for different jobs. You can pick your hours and choose the kind of work you like, so driving can be a great way to earn extra income without messing up your daily schedule.
Best Ways To Make Money Driving
Below are the best ways to make money driving.
1. HopSkipDrive
HopSkipDrive is a great way to make money if you like driving and working with kids. HopSkipDrive provides safe and reliable rides for schools and families. They help schools meet their needs for school transportation as well as help with school bus driver shortages. This app is designed for students who cannot use regular bus routes or need extra help with transportation.
The company pays much more than other ride-sharing services.
You can earn around $50 per hour as a CareDriver. This is higher compared to Uber or Lyft. HopSkipDrive sometimes has special promotions where new drivers can earn $500 for 10 trips in their first 14 days, completing a certain number of rides before 8 a.m. and so on.
Becoming a driver has many steps, but it’s for good reasons. You’ll need to complete online orientation, background checks, and a vehicle inspection. This process makes sure drivers are safe and reliable for the children that they are driving.
The company has flexible hours. You can choose when you want to work. This makes it easy to fit into your schedule.
HopSkipDrive is currently available in many states such as Colorado, California, Washington, and Texas.
2. Deliver groceries with Instacart
Delivering groceries with Instacart is a great way to make money driving. You can work as a full-service shopper or an in-store shopper. Full-service shoppers both shop and deliver the groceries. In-store shoppers stay inside the store and prepare orders for pick-up.
To start, you must be at least 18 years old. You’ll need a smartphone to use the Instacart app. You’ll also need a car to deliver groceries if you choose the full-service option.
When you sign up, Instacart will send you a payment card. You’ll use this card at the store to pay for groceries. This card arrives about 5 to 7 days after you complete the sign-up.
Flexibility is a huge perk because you can choose when and how much you want to work. This makes it easy to fit around your schedule. You could work a few hours on weekends or even fill gaps between your main job hours.
Being an Instacart shopper means that attention to detail is important. Customers count on you to pick the best items, like fresh produce and correctly labeled products. Good service can lead to better tips and higher ratings. It’s not as easy as just throwing items in a cart and buying them – I have had careless shoppers in the past, and when that happens, it’s just a waste of my time because I still have to go to the grocery store to fix their mistakes.
You can learn more at Instacart Shopper Review: How much do Instacart Shoppers earn?
Another popular option for grocery deliveries is Shipt. I have not used this before, but it is owned by Target and many people like it.
3. Deliver with DoorDash
Delivering with DoorDash is a popular way to make extra money driving. As a Dasher, you can work whenever you want. There are no set hours, so you can fit it around your schedule.
You can use any car or even a bike (in certain cities). This gives you a lot of flexibility. Plus, it’s easy to sign up and start delivering quickly.
Dashers earn money through base pay, tips, and extra incentives. The base pay is what you earn for each delivery. You also keep 100% of your tips, which can add up.
Many Dashers earn around $15 to $20 per hour. This can vary depending on where you live and how busy it is.
Delivering food to customers is simple. You just have to pick up the order from a restaurant and drop it off at the customer’s address. DoorDash provides you with all the instructions and directions you need.
If you enjoy driving and want to make some extra cash, DoorDash is a great option. It’s simple, flexible, and you can start earning quickly.
Please click here to sign up for DoorDash.
Note: There are many other food delivery apps such as Grubhub, Uber Eats, and Gopuff (mainly snack delivery) that you can also do food delivery service with too.
4. Ridesharing
Ridesharing can be a great way to make extra money. Apps like Uber and Lyft let you use your car to give people rides.
The best part is that rideshare drivers can work whenever they want. This flexibility means you can drive in your spare time or make it a full-time job.
To get started with rideshare apps, you need to sign up and create an account. You’ll need to provide some information and upload documents like your driver’s license and insurance.
One way to earn more is by driving during peak hours. These are times when people need more rides, so prices go up. Friday and Saturday nights are some of the busiest times.
Another way to earn more is by driving in busy areas or near popular events because this can help you get more rides in less time.
5. Work for Amazon Flex
Amazon Flex is a great way to make money by delivering packages. Amazon Flex drivers can earn between $18 and $25 an hour, and this depends on where you live and demand.
You use your own vehicle to deliver packages (you need a 4-door, midsize sedan or a larger vehicle, such as an SUV). This means you will need a reliable car and a smartphone to use the Amazon Flex app.
You pick your own schedule with Amazon Flex so this makes it perfect for busy people. You can reserve blocks of time in advance or choose them each day.
To work for Amazon Flex, you need to be 21 or older. You also need a valid driver’s license and insurance.
6. Deliver RVs
Delivering RVs can be a fun way to make money while seeing the country. You get to travel to different places, driving different types of RVs from one location to another.
To start, look for companies that specialize in RV transportation. These companies need drivers to move their RVs around. You can also check with RV dealerships because they sometimes post job listings for delivery drivers.
Many companies require you to have a Commercial Driver’s License (CDL). This is important because many RVs are large and need skilled drivers. Check your state’s requirements and whoever you would be working for to see what you need.
After you’re hired, you will be transporting RVs to different places. This might include taking new RVs to buyers or moving rental RVs to different locations. Make sure you know how to handle the RV you’re driving, whether it’s a small campervan or a large motorhome.
Delivering RVs gives you the chance to make money while traveling. You’ll get to see new places and have some fun experiences along the way.
We have met and seen many people transporting RVs over the years (we RVed full-time for many years, and now we RV part-time!), and it has always seemed like a nice gig. In fact, someone drove our newest RV to deliver it to the dealership that we bought it from!
Recommended reading: 11 Ways To Get Paid To Drive A Car Across The Country
7. Work as a medical courier
Becoming a medical courier is a great way to make money while helping people. Medical couriers deliver important items like medication, medical supplies, and lab samples.
Many places hire medical couriers. These include:
Hospitals have couriers to move medical samples, documents, and medications between buildings.
Pharmacies hire couriers to deliver prescriptions to patients who can’t come in.
Labs need couriers to pick up and drop off medical samples for testing.
Home healthcare agencies use couriers to bring medical supplies and medications to patients at home.
Medical supply companies need couriers to deliver equipment and supplies to healthcare places and patients.
8. Drive for a rental car company
Driving for a rental car company is a great way to make money driving. Companies need help moving their cars from one location to another.
Sometimes, rental companies need cars moved across the country. For example, they might need more cars in Florida during the winter.
You can also help by delivering cars to repair shops. After repairs, you can drive them back to the rental office.
9. Advertise with Wrapify
You can make extra money by advertising on your car with Wrapify.
It’s simple and easy! First, you sign up on the Wrapify app. After passing a background check, you’re ready to start earning.
With Wrapify, you drive your usual routes and the app tracks your mileage. The more you drive, the more you can earn.
Full car wraps pay the most, up to $452 a month. Partial wraps pay less, about $196 to $280 each month. It’s passive income for just driving your car.
There are many other car advertisements platforms, such as Carvertise, Nickelytics, StickerRide, and Stickr.
Recommended reading: 6 Best Ways To Get Paid to Advertise On Your Car
10. Truck driver
Driving a truck across the U.S. is a way to make money while driving. The demand for safe truck drivers keeps growing.
To get started, you need a Commercial Driver’s License (CDL). It’s required for all truck driving jobs. You can apply to trucking companies to work as a company driver.
Starting salaries for truck drivers range from $30,000 to $45,000 per year. Experienced drivers can make up to $80,000 or more annually.
Owning your own truck can increase your earnings even more. Owner-operators tend to make higher rates since they take jobs as needed.
11. Rent out your car
You can make money by renting out your car when you’re not using it. Many car-sharing platforms make it easy to get started. Some popular options include Turo and Getaround, which help you earn extra cash by renting your car to people in your area.
You just need to list your car, set your price, and wait for renters. It’s a simple way to turn your car into an income source.
You do want to remember to check your insurance and make sure it covers rentals. You want to be protected in case anything happens while someone else is driving your car.
12. Help people move
Moving can be very stressful for many people, and they tend to need help to move boxes and furniture. This is where you come in.
If you have a pickup truck or cargo van and some muscle, you can sell moving services. People are willing to pay for the convenience of having someone else do the heavy lifting.
I know for me, I hate moving, so I much prefer to pay someone to help me with this.
13. Deliver with Roadie
Roadie is a great platform to make money with your car, and it is owned by UPS. The company partners with businesses for same-day and local next-day deliveries, using regular passenger vehicles. You can deliver a wide variety of items, from luggage to lawn mowers and more.
Roadie gives you the flexibility to choose deliveries that fit your schedule. You can decide when and how often you want to work. The app is easy to use, and you can see real-time tracking for your deliveries. This helps you manage your time effectively and plan your route.
Some deliveries pay more if the items are larger or heavier. You can earn an average of $12 per trip on local deliveries, and more on multi-stop trips. Plus, this is one of the best driving apps to make money on the same day.
14. Taxi driver
Becoming a taxi driver can be a good way to make money driving. You’ll need a clean driving record and a reliable car. In most places, you’ll also need a special license. This usually means passing an exam and possibly a background check.
Working for a taxi company means they might provide the car. You’ll just drive and get paid. If you drive your own car, you keep more of the money but pay for gas and maintenance.
Some drivers make even more by working during busy times. Think weekends, holidays, and big local events. The faster you get passengers to where they need to go, the more passengers you can pick up.
Frequently Asked Questions
There are many ways to make money driving, from delivering food to ridesharing. Here are answers to common questions about how to make money driving.
Can you make money driving?
Yes, you can make money driving by delivering groceries with Instacart, driving for apps like HopSkipDrive, or delivering with DoorDash. You can also choose ridesharing or working for services like Amazon Flex.
What app pays you to drive?
Several apps pay you to drive such as Uber and Uber Eats, which let you drive passengers or deliver food. The Roadie app lets you deliver items on your chosen routes. There are many more apps that pay you to drive, such as Instacart and Turo too.
How to make a living as a driver?
To make a living as a driver, consistency is key. You can combine multiple apps like Uber, DoorDash, and Amazon Flex. Each app has different opportunities and peak hours. Working during busy times can increase your earnings.
How can I make money on the road?
There are many ways to make a living on the road, such as by delivering RVs to RV dealerships, wrapping your car with an advertisement, or even becoming a truck driver.
How can you make extra money by driving your car across the country?
Driving your car across the country can also make you money. Services like Roadie let you deliver long-distance items. You can also start a moving company and help people relocate. Each trip can be a paid gig, making it a good way to earn while traveling.
How To Make Money Driving – Summary
I hope you enjoyed this article on how to make money driving.
There are many ways to make money while driving such as with apps to make money with your car like HopSkipDrive, Instacart, DoorDash, Uber, Lyft, Amazon Flex, and Roadie.
There are also ways to make money driving that don’t involve an app, such as delivering RVs to dealerships, working as a medical courier, driving for a rental car company, placing an advertisement on your car, becoming a truck driver, helping people move, and becoming a taxi driver.
Whether you’re looking for driving side hustles in the gig economy or if you are looking for a full-time career, there are many ways to make money driving.
Thinking of making the Beaver State your new home? Oregon offers residents breathtaking natural scenery, vibrant urban centers, and a flourishing tech industry, making it a top destination for movers. Whether you’re looking at homes for sale in Portland, considering renting a home in Bend, or touring apartments for rent in Eugene, here’s what you need to know before moving to Oregon.
Oregon at a glance
Oregon provides a mix of natural beauty and urban life. From the stunning Crater Lake to the lush forests of the Willamette Valley, the state is perfect for both outdoor enthusiasts and city lovers. The largest cities in Oregon, Portland, Eugene, and Salem, are bustling hubs of activity. Oregon’s economy is driven by technology, agriculture, and manufacturing, with companies like Nike, and Columbia Sportswear headquartered here.
The state’s cultural scene includes vibrant music, arts, and culinary delights, while its strong educational institutions and job market make it an attractive place to live. For those seeking affordability, cities like Gresham, Springfield, and Salem offer more budget-friendly living options. Whether exploring the Oregon Coast, hiking around Mount Hood, or visiting the Portland Saturday Market, moving to Oregon is a great consideration.
1. The national parks in Oregon are stunning
Oregon’s national parks are stunning natural treasures, offering diverse landscapes and unparalleled beauty. Crater Lake National Park showcases the deepest lake in the U.S., known for its vivid blue waters and surrounding volcanic peaks. Further north, the lush forests and cascading waterfalls of Mount Hood National Forest attract hikers and outdoor enthusiasts seeking adventure in a picturesque setting. Additionally, the rugged coastline and sea stacks of Oregon’s coastal parks, like Cape Perpetua Scenic Area, provide dramatic vistas and opportunities for coastal exploration and wildlife viewing.
Travel tip: To make the most of your visit to Crater Lake, aim to arrive before 9 am or after 4 pm to avoid waiting in long lines at the entrance stations. For further details about this stunning National Park, visit the National Park Service page.
2. Oregon has diverse climates throughout the state
Oregon’s diverse climates range from the lush, temperate rainforests of the western coast, where cities like Astoria receive over 70 inches of rain annually, to the arid high desert regions of the eastern part of the state, such as Bend, which gets less than 12 inches of rain per year. Additionally, Salem and Portland are among the rainiest cities in the U.S., contributing to the state’s reputation for varied and sometimes wet weather patterns.
The Willamette Valley, including cities like Eugene and Salem, experiences a mild, Mediterranean climate with warm, dry summers and cool, wet winters, ideal for growing wine grapes and other agriculture. In contrast, the southern part of the state, around Medford, enjoys a more temperate climate with hot, dry summers and mild, wet winters, supporting a variety of fruit orchards and vineyards.
3. There’s no sales tax in the state
Oregon is one of the few states in the U.S. that does not impose a sales tax, which can be beneficial for residents as it reduces the overall cost of goods and services. This tax policy can attract people looking to save money on everyday purchases, making it an appealing destination for those considering relocation. Additionally, the absence of sales tax can simplify financial planning and budgeting for households.
4. Oregon has amazing vineyards
Oregon’s Willamette Valley stands out globally for its stunning vineyards and production of world-class Pinot Noir wines. This is exemplified by acclaimed wineries like Domaine Serene and Archery Summit. The region’s diverse climate and fertile soil create optimal conditions for cultivating exceptional grape varietals, making it a mecca for wine enthusiasts. Additionally, the Columbia Gorge area complements this reputation with its own distinct vineyards, such as Maryhill Winery, contributing to Oregon’s acclaimed wine industry.
Travel tip: The sprawling vineyards make walking impractical, so planning your transportation ahead of time is essential when visiting the Willamette Valley for wine tasting. Uber and Lyft availability in the region can be inconsistent, so arranging a designated driver or booking a wine tour service in advance is advisable.
5. There’s people to help pump your gas
In Oregon, it’s common to find attendants at gas stations who pump your gas for you, making it a convenient service for drivers. This practice eliminates the need to leave your car, especially in bad weather or if you’re in a hurry. Additionally, the service provides an added level of safety and convenience, particularly for those who may have difficulty with self-service pumps.
6. There are plenty of unique festivals and cultural events
Oregon hosts a wide array of unique festivals and cultural events, offering something for everyone to enjoy. The renowned Oregon Shakespeare Festival in Ashland draws theater enthusiasts from around the world, featuring an extensive lineup of classic and contemporary plays performed in multiple theaters. Meanwhile, Portland’s annual Rose Festival pays homage to the city’s heritage with vibrant parades, exhilarating dragon boat races, and breathtaking floral exhibitions.
Travel tip: For budget-conscious visitors with flexible schedules, consider purchasing discounted day-of tickets for performances at the Oregon Shakespeare Festival.
7. Oregon is very environmentally-friendly
Oregon is renowned for its strong commitment to environmental sustainability, with cities like Portland and Eugene leading the way in green initiatives. Portland, for example, has implemented extensive public transportation options such as the MAX light rail and streetcars, significantly reducing carbon emissions. Meanwhile, Eugene is recognized for its widespread use of renewable energy sources like hydroelectric power and geothermal heating, alongside innovative community recycling programs aimed at minimizing waste and promoting recycling efforts.
Discover the pros and cons of living in Oregon to gain insight into the state’s unique lifestyle.
8. Biking is a popular mode of transportation
Biking is a popular mode of transportation for residents in Oregon, especially in cities like Portland, known for its extensive network of over 400 miles of bike lanes and trails. The state’s commitment to promoting cycling is evident through its bike-friendly policies and infrastructure. This makes Portland one of the most bikeable cities in the nation. Additionally, events like Portland’s annual Pedalpalooza festival celebrate the vibrant cycling community and advocate for safer streets for all riders, further enhancing the city’s reputation as a cyclist-friendly destination.
9. Although there’s no sales tax, the income taxes are high
Oregon has one of the highest state income tax rates in the country ranging from 4.75%-9.9%, which can significantly impact residents’ take-home pay. The state’s progressive tax system means higher earners face steep rates, making it essential for potential movers to consider this in their financial planning. Despite the absence of sales tax, the high income tax rate can be a notable factor in the overall cost of living in Oregon.
10. The cost of living can be high in popular metros
The cost of living in Oregon varies widely across the state, with significant differences in housing prices. For example, in Portland, the median home sale price is around $539,500, while average rental prices hover around $1,812 per month for a two-bedroom apartment. In contrast, cities like Medford offer relatively lower housing costs, with median home prices averaging around $400,000 and rental prices averaging approximately $1,520 per month. These variations reflect regional differences in demand, amenities, and overall economic factors impacting housing markets across Oregon.
When choosing the best place to live in Oregon, it’s important to factor in considerations like affordability, amenities, and lifestyle preferences.
11. You’ll find a variety of different food throughout the state
Oregon offers a vibrant culinary scene celebrated for its diverse and farm-fresh food offerings. Cities like Portland are renowned for their bustling food cart pods, where locals and visitors can savor a variety of international cuisines. From Korean BBQ tacos to gourmet grilled cheese sandwiches, there’s plenty to try. Additionally, the state’s abundant farmlands contribute to a thriving farm-to-table movement, with restaurants across Oregon showcasing seasonal ingredients like Oregon hazelnuts, Willamette Valley wines, and fresh Pacific Northwest seafood.
Insider scoop: If you’re in Portland, be sure to visit the Barley Pod, where you’ll discover ample seating, charming string lights, and a central brewery hub.
12. The summers are hot and smoky
Summers in Oregon can be characterized by hot temperatures and occasional wildfire smoke, particularly in regions like the Willamette Valley and Central Oregon. High temperatures often reach into the 80s and 90s Fahrenheit, making it essential for residents and visitors to stay hydrated and seek shade during peak heat hours. Additionally, wildfire season, typically from late summer through early fall, can occasionally lead to reduced air quality due to smoke drifting from nearby forest fires, prompting advisories and precautions from local authorities.
13. Oregon has a beautiful coast
Oregon is renowned for its stunning coastline, which spans over 360 miles along the Pacific Ocean. The state’s rugged shoreline is dotted with picturesque sea stacks, sandy beaches, and dramatic cliffs, offering breathtaking vistas and opportunities for outdoor recreation such as hiking, whale watching, and beachcombing. Popular coastal destinations like Cannon Beach with its iconic Haystack Rock and the quaint town of Newport with its historic bayfront further highlight Oregon’s natural coastal beauty.
Fun fact: Cannon Beach is home to a surprisingly large population of bunnies. If you choose to camp at one of the nearby campgrounds, you can expect to encounter these adorable furry residents.
14. Mount Hood is an hour away from Portland
Oregon is home to majestic Mount Hood, a prominent landmark and popular outdoor destination for residents and visitors alike. Standing at over 11,200 feet, Mount Hood offers year-round recreational opportunities such as skiing, snowboarding, hiking, and camping. Its proximity to Portland, just about 60 miles away, makes it a convenient escape into nature, showcasing Oregon’s diverse landscapes and outdoor lifestyle that attracts outdoor enthusiasts and adventurers.
Methodology
Population data sourced from the United States Census Bureau, while median home sale prices, average monthly rent, and data on affordable and largest cities are sourced from Redfin.
IMARC Group has recently released a new research study titled “In Vitro Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global home decor market size reached US$ 749.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,087.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032. The market is experiencing stable growth driven by the increasing focus on health and wellness, rising preferences for personalized and aesthetically pleasing interior designs, and integration of smart technology in decor products to provide enhanced experiences to individuals.
Global Home Decor Market Trends:
The rising influence of current fashion and design trends in home decor is positively impacting the market growth. Along with this, the burgeoning integration of augmented reality (AR) and virtual reality (VR) in the shopping process to enhance the shopping experience by allowing consumers to visualize products in their own spaces before purchase is acting as a growth-inducing factor. Apart from this, the increasing awareness of wellness, boosting the use of biophilic design principles that integrate natural elements into indoor spaces to enhance mental and emotional well-being, is creating a positive outlook for the market growth.
Request to Get the Sample Report: https://www.imarcgroup.com/home-decorative-materials-market/requestsample
Factors Affecting the Growth of the Home Decor Industry:
Changing Consumer Lifestyle and Preferences:
The changing consumer lifestyle as societal norms, economic conditions, and cultural shifts evolve, is one of the major factors boosting the market growth. Moreover, the rising adoption of remote work and flexible schedules, leading to increased demand for home office setups and ergonomic furniture is acting as a growth-inducing factor. Additionally, the growing preference for functional and aesthetically pleasing decor solutions that complement the home workspaces is fueling the market growth. Furthermore, the rising urbanization and compact living spaces, boosting the demand for multifunctional and space-saving furniture and decor, is contributing to the market growth.
Rapid Technological Advancements:
The rapid technological advancements and innovation that drive continuous evolution, thereby influencing product design, manufacturing processes, distribution channels, and consumer experiences, is enhancing the market growth. in line with this, the burgeoning integration of the Internet of Things (IoT) devices and smart home systems that revolutionize the way consumers interact with their living spaces, is propelling the market growth. Smart lighting systems, automated window treatments, and voice-controlled assistants enhance convenience and functionality while contributing to energy efficiency and environmental sustainability. Furthermore, the rising advancements in manufacturing technologies such as three-dimensional (3D) printing and automated production processes that enable greater design flexibility and customization in home decor products, is catalyzing the market growth.
Growing Focus on Environmental Sustainability and Ethical Consumerism:
The increasing awareness of environmental issues, coupled with a growing preference for ethically sourced and sustainable products, is positively impacting the market growth. in line with this, the heightened mindfulness among consumers of the environmental impact of their purchases, prompting them to seek home decor products made from renewable resources, recycled materials, and non-toxic substances, is acting as a growth-inducing factor. Moreover, the rising adoption of ethical sourcing and fair-trade practices as these have become important considerations for consumers when choosing home decor items, is promoting the market growth. Furthermore, the rising preference among consumers who are looking for home decor items that are durable, repairable, and recyclable at the end of their use, is providing a thrust to the market growth.
Key Companies:
Ashley Furniture Industries Inc. Duresta Upholstery Ltd. Forbo Holding AG Hanssem Co. Ltd. Herman Miller Inc. Inter IKEA Systems B.V. Kimball International Inc. (HNI Corporation) Koninklijke Philips N.V. Mannington Mills Inc. Mohawk Industries Inc. Samson Holding Ltd. Shaw Industries Group Inc. (Berkshire Hathaway Inc.) Sophia Home Springs Window Fashions Suofeiya Home Collection Co. Ltd.
Home Decor Market Report Segmentation:
By Product Type:
Home Furniture Home Textiles Flooring Wall Decor Lighting Others
Home furniture represents the largest segment by product type due to the increasing demand for functional and stylish furniture pieces that cater to diverse consumer preferences and lifestyles.
By Distribution Channel:
Home Decor Stores Supermarkets and Hypermarkets Online Store Gift Shops Others
Home decor stores account for the majority of the market share because they offer a wide range of curated decor items, personalized shopping experiences, and expert advice.
Regional Insights:
North America Europe Asia Pacific Middle East and Africa Latin America
North America leads the market owing to factors such as high disposable income levels, a strong housing market, and a culture that values interior design and home improvement.
Speak to An Analyst: https://www.imarcgroup.com/request?type=report&id=1122&flag=C
Key Highlights of the Report:
Market Performance (2018-2023) Market Outlook (2024-2032) Market Trends Market Drivers and Success Factors Impact of COVID-19 Value Chain Analysis Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Once upon a time, people had to fit their schedules around the limited “bankers’ hours” of bank branches. Today, it’s easy to take care of almost all of your banking needs without ever stepping inside a physical branch. As long as you have your smartphone and a wifi connection, you’re good to go.
The rise of mobile banking has boosted convenience without sacrificing the features you come to expect with a bank account. It’s no wonder that one recent survey found that 78% of respondents use their bank’s mobile app weekly and 62% said they couldn’t live without it. Read on to learn more about what’s available in the world of mobile banking — and what’s ahead.
Key Features of Mobile Banking Apps
Mobile banking apps offer tools that are increasingly becoming more personalized and sophisticated. While nearly every major bank allows customers to do some business on their website and/or through their mobile app, the exact mobile banking features will vary depending on the bank.
Here are a few of the most common mobile banking app features:
• Account opening and closing
• Bill pay, including instant payments
• Mobile check deposit
• ATM and branch locator
• Low balance notifications
• Transaction history
• Budgeting and planning tools
• Direct deposit
Check your bank or credit union’s app or website to see what mobile banking features are available to you.
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How Mobile Banking Simplifies Your Finances
Mobile banking can truly makes it much easier to monitor your checking account and other account balances so that you can keep your budget on track. You can quickly transfer money from your checking to your savings account to meet your financial goals, for example, or potentially automate that process so that a portion of your paycheck is funneled to your savings. You can also set up recurring payments to make sure bills are automatically handled on time.
As mentioned above, some mobile banking platforms include budgeting tools you can use to plan your spending and saving. Some also include the ability to save money in vaults, or subaccounts, that earmark funds for specific goals, such as vacations, holiday spending, or emergency funds.
Many banks have mobile banking account alerts that will notify you if your balance drops below a certain threshold. (This can help you avoid pricey overdraft fees.) You can generally customize these alerts, both by setting the amount that triggers the alert as well as indicating how you want to be notified.
You can also typically access options for sending money quickly to others, whether through an integrated payment platform or possibly via a wire transfer that is initiated on your phone.
There are, of course, both mobile banking pros and cons, but most people find that the benefits of using mobile banking apps outweigh any potential negatives.
Mobile Banking & Security
One of the biggest questions that many people have about mobile banking is whether mobile banking is safe.
It’s reassuring to know that most major banks and financial institutions follow state-of-the-art encryption, security, and fraud protection best practices, such as SSL (secure sockets layer) encryption and two-factor authentication (2FA). Additionally, many banks have a no-fault policy that says that you won’t be held liable for unauthorized transactions.
Also worth noting: Not all of the ways your account could be vulnerable are under the bank’s control. For example, hackers and scammers can be relentless when trying to gain access to checking and savings accounts. It’s smart to acquaint yourself with their latest ruses and follow best practices, like having a strong password that you don’t use for other sites as well as enabling 2FA.
Innovation & the Future of Mobile Banking
Mobile banking continues to evolve and innovate. Over the past decade, many people have adopted mobile wallets that allow them to store and access banking and credit card information instead of carrying around a physical card. You also are probably familiar with new forms of biometric authentication that are gaining ground, such as using facial or voice recognition to unlock your mobile account.
Cardless ATM withdrawals, which involve using your phone at a terminal vs. a card, is another new direction, and a growing number of banks are incorporating the latest AI and chatbot technologies to offer more personalized customer service while clients use their app.
Recommended: How Long Does It Take for a Mobile Deposit to Clear?
The Takeaway
Mobile banking provides convenience and security for bank users. It can simplify and speed up such banking tasks as depositing checks, bill payments, checking account balances, and receiving account alerts. The features of a mobile banking app will vary somewhat depending on the financial institution, so check with your bank or credit union to see what mobile banking features are available to you.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.60% APY on SoFi Checking and Savings.
FAQ
What are the key features of mobile banking apps?
Most mobile banking apps have a core set of features, such as account management, bill pay, account alerts, and mobile check deposits. Some banks may offer additional features, such as dashboards that track your earnings, spending, and savings, as well as vault bank accounts, which allow users to bucket their money into subaccounts.
How does mobile banking make saving easier?
Mobile banking makes saving easier in a number of different ways. You’re able to have more insight into your finances just by glancing at your smartphone. You can also set up automatic transfers from checking to savings on payday and often track your spending via the app’s dashboard. Establishing low balance alerts can also help you avoid pricey overdraft fees, which is another way to save money.
What security measures are in place with mobile banking?
Most major banks use industry-standard security best practices involving encryption, continuous authentication, and other features. It’s also wise to follow such security measures as not reusing your password, regularly monitoring your account, and setting up 2FA on your account.
How does mobile banking offer clarity about financial data?
Mobile banking lets you check your account balances, allowing you to get a better picture of your overall financial health, anytime and anywhere. Many mobile banking apps also allow you to track your spending and will alert you of upcoming payments that are due, which can also offer greater control and clarity.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Spot Bitcoin ETPs are a type of investment vehicle that seeks to track the spot price of Bitcoin. ETPs, or exchange-traded products, are a broader basket of investments that include both exchange-traded funds (ETFs) and exchange-traded notes (ETNs), and are listed on an exchange, and can be purchased or sold much like a stock.
But what’s critical to know is that generally, ETFs are regulated by the Investment Company Act of 1940 (the “1940 Act”). While the most common type of ETPs are structured as ETFs, not all are, and spot Bitcoin ETPs are a specific type of ETP that are not registered under the 1940 Act. As such, these ETPs are not subjected to the 1940 Act’s rules, and investors holding shares of Bitcoin ETPs may not or do not have the same protections as those that are regulated by the 1940 Act, which may mean these investments have relatively higher associated risks.
What Is a Bitcoin ETP?
As noted, Bitcoin ETPs are a type of exchange-traded fund or product that allow investors to gain exposure to Bitcoin without directly owning it. These seek to track the price of Bitcoin. That means when the price of Bitcoin in U.S. dollars goes up, a spot Bitcoin ETP, trading on the stock exchange should also see its share values go up, and vice versa.
But it’s critical to note that Bitcoin ETPs have a much narrower focus than most other exchange-traded funds, which started out with the aim of giving investors broad exposure to the stock market. But, like all investments, they have various risks associated with them. In fact, it’s possible that an investor could lose the entirety of their investment.
An Introduction to Bitcoin ETPs
Bitcoin ETPs are exchange-traded products that, effectively, allow investors to gain exposure to the crypto markets as easily as they would buy or sell a stock, as discussed. Again, a Bitcoin ETP seeks to track the price or value of Bitcoin, and so the value of a Bitcoin ETP share is designed to rise or fall in relation to the change in value of the underlying cryptocurrency.
It also means that investors don’t necessarily need to directly own Bitcoin to gain exposure to the market in their portfolio — they can invest in a security, the ETP, that seeks to track it, instead. Note, too, that all ETPs have related fees and expenses, which vary.
💡 Quick Tip: How to manage potential risk factors in a self-directed investment account? Doing your research and employing strategies like dollar-cost averaging and diversification may help mitigate financial risk when trading stocks.
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What Are Spot Bitcoin ETPs?
Spot Bitcoin ETPs are investment vehicles that trade at “spot” value. “Spot” value, in this case, refers to the price of the underlying asset at any given time. So, if a buyer and seller come together to make a trade, they would do so at the spot price. There are spot markets for all sorts of commodities.
Where Can Investors Buy Spot Bitcoin ETP Shares?
Investors can buy spot Bitcoin ETP shares via numerous exchanges and platforms. While previously, investors interested in Bitcoin or other cryptocurrencies would need to trade on platforms that supported cryptocurrencies, since Bitcoin ETPs are exchange-traded vehicles, investors are likely to find them available on many other platforms — that includes SoFi, which allows investors to buy spot Bitcoin ETP shares as well.
Are There Other Spot Crypto ETPs?
Spot Bitcoin ETPs seek to track the price of a fund’s Bitcoin holdings, and other spot crypto ETPs, if and when they are approved and hit exchanges, will do the same.
Spot Bitcoin ETPs were first approved for trading by regulators in early 2024. There are ETPs that seek to track Bitcoin-exposed or Bitcoin-adjacent companies, too, as well as Bitcoin futures. Spot Ethereum ETPs could be similar vehicles to to spot Bitcoin ETPs, in that they would seek to track the price of Ethereum, and allow investors to gain exposure to Ethereum in their portfolios without owning it directly.
What Are Bitcoin Futures ETPs?
Bitcoin futures ETPs are another type of ETP that give investors exposure to the price movements of Bitcoin via futures contracts. Futures are a type of contract that dictates the terms of a trade at a future date, and typically have underlying assets such as precious metals or other commodities — including crypto.
Accordingly, Bitcoin futures ETPs are crypto futures ETPs that specifically seek to track Bitcoin futures contracts. Regulators approved Bitcoin futures contracts in 2021, but again, investors should know that they don’t seek to track the price or value of the underlying asset exactly — which differentiates them from spot Bitcoin ETPs.
💡 Quick Tip: Look for an online brokerage with low trading commissions as well as no account minimum. Higher fees can cut into investment returns over time.
Are There US-listed Spot Bitcoin ETPs?
There are U.S.-listed spot Bitcoin ETPs. When the Securities and Exchange Commission (SEC) first granted their approval in January 2024, it opened the door to several Bitcoin ETPs hitting the market. As a result, investors were able to start buying and selling them via the stock market.
The SEC’s approval led to new spot Bitcoin ETPs being listed on a few different exchanges. Here’s a list of the first 11 spot Bitcoin ETPs that gained approval from the SEC:
• Grayscale Bitcoin Trust (GBTC)
• Bitwise Bitcoin ETF (BITB)
• Hashdex Bitcoin ETF (DEFI)
• ARK 21Shares Bitcoin ETF (ARKB)
• Invesco Galaxy Bitcoin ETF (BTCO)
• VanEck Bitcoin Trust (HODL)
• WisdomTree Bitcoin Fund (BTCW)
• Fidelity Wise Origin Bitcoin Fund (FBTC)
• Franklin Bitcoin ETF (EZBC)
• iShares Bitcoin Trust (IBIT)
• Valkyrie Bitcoin Fund (BRRR)
Note, too, that it’s anticipated that additional spot cryptocurrency ETPs will become available.
How Are Bitcoin ETPs Regulated?
Bitcoin ETPs are regulated by the SEC, which sets out guidance in terms of legality. Regulation in the crypto space is and has been murky — it’s been largely unregulated for the entirety of the crypto space’s existence. But the advent of crypto ETPs is likely to change that to some degree, as spot Bitcoin ETPs’ underlying asset is and can be Bitcoin itself, rather than Bitcoin derivatives.
Remember, too, that Bitcoin ETPs are not regulated under the Investment Company Act of 1940, as discussed. That differentiates them from most ETFs on the market.
That’s another important distinction investors should note: Spot and futures Bitcoin ETPs may be regulated under slightly different terms, as futures are derivatives. Investors should pay attention to the space and to any SEC guidance released regarding crypto regulation, as it may impact the value of their holdings in crypto ETPs, too.
Pros & Cons of Bitcoin ETPs
Like all investments, there are pros and cons of ETFs and ETPs — including Bitcoin ETPs.
Benefits of Bitcoin ETPs
Proponents of Bitcoin ETPs appreciate that they can give investors exposure to the complicated and volatile cryptocurrency market, without the need to personally hold actual crypto.
Convenience and Ease
Buying a spot Bitcoin ETP requires little tech know-how beyond knowing how to use a computer, open a brokerage account, and place a buy order.
ETPs provide a way for investors to indirectly add exposure to certain assets — like Bitcoin, in this case — to their portfolio. That may result in a return on investment, or a possible loss of principal. On the other hand, holding actual Bitcoin may require a somewhat advanced level of technical expertise.
Secure Storage Options
Some cryptocurrency exchanges might be trustworthy, but some users have also had a controversial history of being hacked, stolen from, or defrauded. Even reliable exchanges open investors up to risk.
Securely storing cryptocurrencies — for example, storing the private keys to a Bitcoin wallet — is most often done by using either a paper wallet that has the keys written in the form of a QR code and a long string of random characters, or by using an external piece of hardware called a hardware wallet.
Risks of Bitcoin ETPs
First and foremost, investors should be aware that it’s possible that they could lose the entirety of their investment when investing in Bitcoin ETPs. There are, of course, other risks to consider as well, including volatility, costs, and the unpredictable and still largely-unregulated nature of the crypto market.
Volatility
The volatility comes from the occasional wild swings experienced in the price of Bitcoin and Bitcoin futures against most other currencies. This could scare investors that have a lower risk tolerance, enticing them to panic and sell.
Fees
One of the risks that comes from holding an ETP of any kind involves its expense ratio. This number refers to the amount of money a fund’s management charges in exchange for providing the opportunity for investors to invest in their fund.
If a fund comes with an expense ratio of 2%, for example, the fund management would take $2 out of a $100 investment each year. This figure is usually calculated after profits have been factored in, cutting into investors’ gains. In other words, some Bitcoin ETPs could be relatively expensive for investors to hold, but it’ll depend on the specific fund.
There can be other various types of fees that may apply to an investment in ETPs as well. While the specific fees will vary from ETP to ETP, investors will likely encounter one or a combination of commissions, account maintenance fees, exchange fees, and wrap fees (a type of management fee). Again, investors will want to look at an ETP’s prospectus or related documents to get a better sense of the costs associated with a specific ETP.
Fraud and Market Manipulation
Regulators have cited fraud and market manipulation as reasons for why they were cautious about approving a spot market Bitcoin ETP. It’s unclear how the SEC’s approval of spot Bitcoin ETPs may affect fraud and market manipulation in the crypto space, but it’s something investors should be aware of.
The Takeaway
Spot Bitcoin ETPs were approved for trading by the SEC in early 2024, and as a result, it’s likely that many more crypto ETPs will also hit markets and exchanges in the future — though nothing is guaranteed. Investors may use them to gain exposure to the crypto markets. For investors curious about the cryptocurrency market but not yet ready to invest in crypto itself, a Bitcoin ETP may represent another option. It may be best to speak with a financial professional before investing, too.
If you’re ready to bring crypto into your portfolio, you can invest in a Bitcoin ETP with SoFi. Along with many other types of investments, SoFi’s platform offers investors access to the crypto space through spot Bitcoin ETPs.
Ready to invest in your goals? It’s easy to get started when you open an investment account with SoFi Invest. You can invest in stocks, exchange-traded funds (ETFs), mutual funds, alternative funds, and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).
For a limited time, opening and funding an Active Invest account gives you the opportunity to get up to $1,000 in the stock of your choice.
FAQ
What are the options for Bitcoin ETPs?
There are Bitcoin futures ETPs and spot Bitcoin ETPs listed in the U.S., which investors can buy. Given the SEC’s approval of Bitcoin ETPs for trading in early 2024, there may soon be additional spot crypto ETPs available to investors in the future.
Are there US-listed Bitcoin ETPs?
As of July 2024, there are U.S.-listed spot Bitcoin ETPs after the SEC approved an initial batch of them, and it’s likely there will be more in the subsequent months and years.
Where can Bitcoin ETP shares be purchased?
Crypto ETPs can be purchased and traded on the stock market, alongside other ETPs.
Photo credit: iStock/JuSun
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Individual customer accounts may be subject to the terms applicable to one or more of these platforms.
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It’s now possible to activate all 5% category credit cards for the third quarter of 2024, including the Chase Freedom, Chase Freedom Flex, Discover IT, Citi Dividend, US Bank Cash+ and some smaller cards. In this post we’ll provide the activation link for each card and links to track your spend, along with strategies to help increase spend in these categories.
Dates: July 1st – September 30, 2024. Store purchases can usually be done until the last minute while online purchases should be given a buffer zone since the charge typically posts on the shipping date.
Chase Freedom – Gas, EV, Entertainment
Activation Link / FAQ / Sample Stores & Exclusions / Our original post
With the Chase Freedom and Freedom Flex cards, activate to earn 5% back this quarter on up to $1,500 in spend at gas stations, on EV charging, select live entertainment and movie theaters.
Gas and EV charging – Useful for gas and also for buying gift cards inside some gas stations and similar convenience stores
Select live entertainment and movie theaters
Tip: Click this link (login required) to check how far you are along the $1,500.
Discover – Grocery, Walmart
Activation Link / Our original post
With your Discover card, activate to earn 5% back this quarter on up to $1,500 in purchases at Grocery Stores and at Walmart.
Grocery Stores – always a useful category. Grocery stores also sell a wide variety of gift cards to other retailers.
Walmart – Walmart store purchases, online purchases, and gas purchases are included. You can buy a Walmart gift card online or in-store and then use that for Sam’s Club purchases as well. Walmart sells third party gift cards too.
Activate to earn 5% Cashback Bonus at Grocery Stores and Walmart from 7/1/24 (or the date on which you activate 5%, whichever is later) through 9/30/24, on up to $1,500 in purchases. Grocery Store purchases include those made at supermarkets, meat lockers, bakeries, smaller grocery stores, and grocery delivery services. All purchases made from Target, convenience stores, wholesale clubs, and discount stores are not eligible. Walmart purchases include those made at Walmart.com, through the Walmart app, in-store at Walmart Discount Stores, Walmart Supercenter Stores, Walmart Neighborhood Market Stores, Curbside Pickup, Walmart +, and Walmart Gas Stations. Purchases using Walmart Pay with your Discover Card will also be included. Purchases from individual merchants and stand-alone stores within physical Walmart locations may not be eligible for this promotion. Sam’s Club purchases are not eligible. Purchases made through affiliates of Walmart.com are not a part of this promotion. The Walmart.com logo is a registered trademark of Walmart Inc. Listed merchants are in no way sponsoring or affiliated with this program.
Tip: Login, then click this link to see you how far along the $1,500 you are.
Citi Dividend – Gas
Landing Page | Our Original Post
With your Dividend card, activate to earn 5% back this quarter at Gas Stations. Citi is different than the other cards in that you have a $6,000 annual cap rather than a $1,500 quarterly cap. You can get 5% back on up to $6,000 in this quarter or you can save the entire amount for a different quarter, or you can use part up each quarter.
Excludes gasoline purchases at warehouse clubs, discount stores, convenience stores or other merchants that do not use the gas station merchant category code.
U.S. Bank Cash+/Elan – Select your Categories
Activation link | Merchant List | Our Original Post
U.S. Bank Cash+ and Elan Max offer 5% cash back in two categories, up to $2,000 combined total per quarter. Keep in mind that Car Rentals was recently replaced with TV, Internet, and Streaming Services.
Here are the current options:
TV, Internet, and Streaming Services
Home utilities
Select clothing stores
Cell phone providers
Electronic Stores
Gyms/Fitness
Fast food
Ground Transportation
Sporting goods
Department Stores
Furniture Stores
Movie theaters
Tip: Login here, then scroll down and click on the red “View Your Cash+ History” button.
U.S. Bank Shopper – Select your Categories
Our Original Post
The U.S. Bank Shopper Cash Rewards comes with a $95 annual fee and offers 6% cashback on your first $1,500 in combined eligible purchases each quarter with two retailers you choose. Options include Amazon, Apple, Best Buy, Home Depot, Lowe’s, Walmart, Target, and many more. You must enroll each quarter into two retailers.
Bank of America Customized Cash Rewards
Our Original Post
The Cash Rewards card from Bank of America offers 3% back on one selected category, up to $2,500 per quarter. If you don’t select anything it defaults to gas. Once you selected a category for one quarter, that remains your category in the future unless you change it. Each calendar month you can change it if you’d like, but you’re always limited to $2,500 for the entire quarter.
Gas and EV charging stations (default category)
Online Shopping; this category also includes cable, streaming, internet, and phone plan
Dining
Travel
Drug Stores
Home Improvement/Furnishings
This category is especially lucrative for those who have Preferred Rewards status with Bank of America which can get you 5.25% back on one of these categories at the higher relationship level.
Lots of useful categories here. Important note: the Cash Rewards card also offers 2% back at grocery stores and wholesale clubs up to $2,500 per quarter, and that $2,500 limit combines with the Category Selection limit. After spending $2,500, you’ll earn 1% back on everything.
Other Cards with 5% Category
Nusenda FCU – Gas, Hotels, Airfare, Education
Landing Page | Our Original Post
Earn 5% this quarter on up to $1,500 in purchases on Gas, Hotels, Airfare, and Education.
This is on top of the regular 1% for a total earn of 6% back. (apparently no longer the case?)
Langley FCU – Walmart, Wholesale, Gas, EV
Landing Page | Our Original Post
Langley Federal Credit Union offers 5% back each month in one selected category, on up to $100 cash back total ($2,000 spend).
The category options at time of this writing: Walmart, Wholesale, Gas, EV.
Vantage West [AZ] – Select your Category
Landing Page | Our Original Post
Get 5x points on the category of your choice, up to $1,500 per quarter. Eligible categories:
Safe Credit Union Cash Rewards Visa card offers 5% this quarter on your choice of one category each quarter (with no apparent limit). This quarter the categories are:
The Steel City, Pittsburgh, PA, is a vibrant and diverse city with a rich history and a thriving arts and culture scene. With iconic neighborhoods like Strip District, Central Northside, and North Side, Pittsburgh offers a variety of options for renters. If you’re looking to rent an apartment in Pittsburgh, you’ll find that the average rent for a one-bedroom apartment is $1,400. Whether you’re seeking a trendy urban neighborhood or a more laid-back suburban vibe, ApartmentGuide has compiled a list of the most expensive Pittsburgh neighborhoods to help you find the perfect place to call home.
13 Most Expensive Neighborhoods in Pittsburgh
From the renovated warehouses of the Strip District to the city views from Troy Hill, there are plenty of exciting neighborhoods in Pittsburgh. Whether you’re looking for a luxurious home to rent in Pittsburgh or wondering where to live in the city, we’ve got you covered.
1. Strip District 2. Central Northside 3. North Side 4. Lower Lawrenceville 5. East Allegheny 6. West Oakland 7. Duquesne Heights 8. Cultural District 9. Squirrel Hill North 10. Downtown Pittsburgh 11. Allegheny Center 12. Fifth and Forbes Corridor 13. Troy Hill
Let’s jump in and see what these neighborhoods have to offer.
1. Strip District
Average 1-bedroom rent: $2,177 Apartments for rent in Strip District
The Strip District is the most expensive neighborhood in Pittsburgh, as the average rent for a one-bedroom unit is $2,177. The Strip District neighborhood of Pittsburgh is a bustling and eclectic area known for its vibrant market atmosphere and rich industrial history. The streets are lined with historic warehouses converted into lofts, specialty shops, and food markets, giving the neighborhood a distinctive urban feel. Local attractions include the Heinz History Center, a fascinating museum dedicated to the city’s past. Small, family-owned restaurants like Primanti Bros., famous for its hefty sandwiches, and authentic Italian grocers like Pennsylvania Macaroni Company, draw both locals and tourists. The neighborhood is highly walkable, with bike lanes and proximity to public transit options like the East Busway, making it easy for residents to navigate without a car.
2. Central Northside
Average 1-bedroom rent: $2,064 Apartments for rent in Central Northside
The Central Northside neighborhood of Pittsburgh is distinguished by its eclectic mix of historic Victorian homes and modern townhouses, creating a visually captivating streetscape. Anchoring the area is the iconic Randyland, a vibrant, colorful outdoor art museum that draws visitors from all over the city. The neighborhood is also home to the Mattress Factory, a contemporary art museum known for its immersive installations. Residents enjoy the lush Allegheny Commons Park, Pittsburgh’s oldest park, offering scenic walking trails, a lake, and community events. Getting around Central Northside is convenient, with easy access to public transportation like the T light rail system and numerous bus routes, facilitating quick commutes to downtown Pittsburgh.
3. North Side
Average 1-bedroom rent: $2,030 Apartments for rent in North Side
With an average one-bedroom rent of $2,030, North Side is the third most expensive neighborhood in Pittsburgh. The area is distinguished by its blend of historic charm and vibrant cultural attractions. The area is characterized by beautifully preserved Victorian homes and tree-lined streets, creating a picturesque residential setting. Among its standout attractions is the Andy Warhol Museum, which showcases an extensive collection of the artist’s works and draws art enthusiasts from around the world. The neighborhood also features the National Aviary, a unique destination housing an array of bird species in immersive habitats. Residents enjoy easy access to Acrisure Stadium and PNC Park, making it a hub for sports fans. Getting around the North Side is convenient with multiple bus routes and the nearby Allegheny T Station providing quick connectivity to downtown Pittsburgh, enhancing its appeal as a lively and accessible community.
4. Lower Lawrenceville
Average 1-bedroom rent: $1,900 Apartments for rent in Lower Lawrenceville
Lower Lawrenceville stands out for its trendy, eclectic vibe and historic charm. The streets are lined with beautifully restored row houses and industrial lofts, reflecting a blend of old and new architecture. A key attraction is Arsenal Park, a lush green space with playgrounds, sports courts, and a community garden, offering a peaceful retreat amid urban life. The neighborhood is a hub for local artists and creatives, with galleries like Radiant Hall and performance spaces like Spirit hosting a variety of cultural events. Residents enjoy an array of unique dining options, such as Morcilla, known for its Spanish tapas, and Roundabout Brewery, a local favorite for craft beers. Getting around Lower Lawrenceville is convenient with well-maintained sidewalks, dedicated bike lanes, and access to several public transit routes, making it easy for residents to explore the rest of Pittsburgh.
5. East Allegheny
Average 1-bedroom rent: $1,650 Apartments for rent in East Allegheny
East Allegheny, also known as Deutschtown, stands out in Pittsburgh for its historic charm and vibrant community life. The neighborhood is characterized by beautifully preserved Victorian-era buildings and narrow, tree-lined streets that evoke a sense of timeless elegance. Notable attractions include the Allegheny Commons Park, the city’s oldest park, which offers scenic walking paths, playgrounds, and the picturesque Lake Elizabeth. Cultural enthusiasts frequent the New Hazlett Theater, an independent venue hosting a variety of performances, from contemporary plays to live music. Residents benefit from excellent public transportation options, including several bus routes and proximity to the T station, making commutes to downtown Pittsburgh convenient. Additionally, local gems like Max’s Allegheny Tavern, a historic pub offering authentic German cuisine, and the James Street Gastropub and Speakeasy add to the neighborhood’s unique and lively atmosphere.
6. West Oakland
Average 1-bedroom rent: $1,625 Apartments for rent in West Oakland
West Oakland in Pittsburgh is known for its blend of academic energy and historic charm. The streets are lined with beautiful early 20th-century brick homes and tree-shaded sidewalks, creating a cozy and picturesque environment. One of the neighborhood’s standout features is its proximity to the University of Pittsburgh and Carnegie Mellon University, making it a hub for students and faculty. Attractions like the Carnegie Museum of Art and the Phipps Conservatory and Botanical Gardens are nearby, offering cultural enrichment and natural beauty. Residents typically get around using the well-connected Port Authority bus routes or by biking, with several dedicated bike lanes making commuting convenient. Additionally, the neighborhood boasts unique local cafes and eateries, like Butterjoint, known for its craft cocktails and locally sourced menu, adding to the vibrant, community-focused atmosphere of West Oakland.
7. Duquesne Heights
Average 1-bedroom rent: $1,599 Apartments for rent in Duquesne Heights
With its stunning panoramic views of the city skyline and the three rivers, Duquesne Heights offers a picturesque setting that is hard to match. The neighborhood is characterized by its steep, hilly streets lined with a mix of historic homes and modern residences, providing a unique architectural blend. One of the key attractions is the Duquesne Incline, an iconic funicular that not only serves as a practical mode of transportation but also offers spectacular views and a historical glimpse into Pittsburgh’s past. Emerald View Park, a sprawling green space, provides residents with hiking trails, picnic spots, and breathtaking overlooks, making it a haven for outdoor enthusiasts. Local gems like Altius, a renowned fine dining restaurant, offer exquisite meals with unparalleled views, adding to the neighborhood’s appeal. Getting around Duquesne Heights is convenient with access to public transit options, including bus routes that connect to downtown Pittsburgh, as well as easy access to major roadways for those commuting by car.
8. Cultural District
Average 1-bedroom rent: $1,550 Apartments for rent in Cultural District
Cultural District takes the eighth spot on our list of most expensive neighborhoods in Pittsburgh. This vibrant area is home to a plethora of attractions, including the Benedum Center for the Performing Arts and the Heinz Hall, both renowned for hosting world-class performances and events. Art enthusiasts frequent the Wood Street Galleries and the August Wilson African American Cultural Center, adding a rich cultural dimension to the neighborhood. The picturesque Allegheny Riverfront offers scenic views and walking paths, providing residents with a serene urban escape. Residents and visitors can easily navigate the Cultural District thanks to its pedestrian-friendly design and the convenience of the Port Authority’s light rail system and numerous bus routes. Unique eateries, independent coffee shops, and locally-owned boutiques contribute to the neighborhood’s distinctive and lively atmosphere.
9. Squirrel Hill North
Average 1-bedroom rent: $1,545 Apartments for rent in Squirrel Hill North
A well-loved Pittsburgh neighborhood, Squirrel Hill North is the next area. The neighborhood boasts attractions like the scenic Frick Park, where residents can enjoy hiking trails, playgrounds, and the stunning Clayton Mansion, once the home of industrialist Henry Clay Frick. The area is also home to the vibrant Murray Avenue, lined with unique local shops, cafes, and restaurants such as Hidden Harbor, a tiki bar known for its creative cocktails. Cultural richness is added by the nearby Carnegie Mellon University and University of Pittsburgh, providing educational and cultural events accessible to the community. Getting around Squirrel Hill North is convenient with multiple bus routes, bike-friendly streets, and easy access to major roads, making commuting to other parts of the city seamless.
10. Downtown Pittsburgh
Average 1-bedroom rent: $1,518 Apartments for rent in Downtown Pittsburgh
The tenth most expensive neighborhood in Pittsburgh is Downtown. The area is home to iconic attractions like Point State Park, where the Allegheny and Monongahela Rivers converge to form the Ohio River, offering scenic views and recreational activities. Cultural venues such as the Benedum Center and Heinz Hall host world-class performances, enriching the neighborhood’s arts scene. Residents enjoy a variety of dining options, including acclaimed spots like Gaucho Parrilla Argentina and Butcher and the Rye. Getting around is convenient with numerous public transit options, including the T light rail system and extensive bus routes, alongside pedestrian-friendly streets and bike lanes. The unique blend of architectural beauty, cultural richness, and accessibility sets Downtown Pittsburgh apart as a truly distinctive and appealing place to live.
11. Allegheny Center
Average 1-bedroom rent: $1,475 Apartments for rent in Allegheny Center
Number 11 on our list is Allegheny Center. The neighborhood is characterized by its high-rise apartment buildings and the iconic Allegheny Center Mall, which has been repurposed into office spaces and cultural venues. A key attraction is the Children’s Museum of Pittsburgh, a dynamic space offering interactive exhibits and educational programs for families. The New Hazlett Theater, housed in a historic structure, serves as a vibrant performing arts venue showcasing local talent. Residents enjoy easy access to numerous green spaces, including the scenic Allegheny Commons Park, perfect for jogging, picnicking, and community events. Getting around is convenient, with several bus routes serving the area and the nearby North Side T Station providing quick access to downtown Pittsburgh.
12. Fifth and Forbes Corridor
Average 1-bedroom rent: $1,443 Apartments for rent in Fifth and Forbes Corridor
Taking the 12th spot is Fifth and Forbes Corridor. This area is a bustling hub of activity, featuring attractions such as the renowned Benedum Center for the Performing Arts and the eclectic Heinz History Center, both of which draw culture enthusiasts from across the city. The neighborhood is also home to a variety of unique local eateries and boutiques, like the artisanal bakery Prantl’s and the independent bookstore White Whale Bookstore. Public art installations and murals add a vibrant touch to the streets, reflecting the neighborhood’s creative spirit. Residents enjoy excellent connectivity, with multiple bus lines and bike lanes making commuting easy and sustainable.
13. Troy Hill
Average 1-bedroom rent: $1,437 Apartments for rent in Troy Hill
Troy Hill, perched atop a hill overlooking Pittsburgh, stands out with its blend of historic charm and stunning city views. The neighborhood’s streets are lined with beautifully preserved 19th-century row houses and quaint brick homes, reflecting its rich heritage. A notable attraction is the Troy Hill Art House, an intimate venue that showcases contemporary art exhibitions and community events. Residents and visitors can explore the picturesque Cowley Playground, a beloved local park with sports facilities, playgrounds, and picnic areas. Getting around Troy Hill is convenient, with accessible public transportation options like bus routes 4 and 8 providing easy connections to downtown Pittsburgh and other neighborhoods.
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.
If you’re considering a home in Chicago, an apartment in New York City, or a rental in Los Angeles, you might have come across the term “duplex.” By definition, a duplex is a single building divided into two separate living units, either stacked vertically or placed side-by-side. Each unit has its own entrance, providing privacy and a home-like feel. For renters, duplexes offer an attractive option, providing more space at a lower cost, greater privacy, and more amenities.
The multifamily home market is a growing segment of the U.S. housing landscape, and is creating more affordable options for renters. Multifamily real estate investment accounted for 42% of the total U.S. market in 2021 and exceeded $111 billion that year, and is expected to increase until 2025. ‘
There are both benefits and drawbacks to living in duplexes, so it’s essential to weigh them carefully. This ApartmentGuide article provides a rundown on what a duplex is and whether it might be the right choice for you. You may even find yourself moving into one by the end.
What is a duplex?
A duplex apartment is a single building comprising two separate living units. They are often referred to simply as a dual-living properties or a two-family houses. Duplexes can be configured in two main ways:
Vertical duplex: In this layout, one unit is located directly above the other. The floor of the upstairs unit forms the ceiling of the downstairs unit.
Horizontal duplex: Here, the two units are side-by-side, sharing a common wall. This wall typically houses the staircase, assuming each unit spans two floors.
Most of the time, each unit is self-contained with its own entrance, and they usually have similar square footage. Different families or tenants occupy each unit, living independently. The definition of duplex apartments can be somewhat confusing, as it varies depending on the location.
What does a duplex apartment look like?
Here’s the bottom line: the key distinction to look for in identifying a property as a duplex is that it has two separate living units within a single structure. Here are a few other dead giveaways.
Key features of a duplex include:
Two separate units: Again, each unit has its own living spaces, kitchen, and bathroom. Units can be stacked vertically (one above the other) or placed side-by-side (sharing a common wall).
Independent entrances: Each unit has its own entrance, providing privacy and independence for the occupants.
Shared structure: Both units share the same building structure, including the foundation, roof, and exterior walls.
Common ownership: Typically, a duplex is owned by a single entity or landlord who rents out both units. The owner is responsible for the overall maintenance of the building, while tenants maintain their individual units.
Separate utilities: Duplexes often have separate utility meters for each unit, allowing for independent billing of services like electricity, water, and gas.
Duplex living: pros and cons
Living in a duplex offers several benefits, such as a yard, garage, and privacy, similar to a standard residential home. Additionally, duplexes are typically more affordable than single-family homes, allowing you to rent a nicer place in a better location. On the other hand, you will have a neighbor living next to you, above, or below, which might impact your privacy. To help you decide if a duplex is right for you, let’s run through some more pros and cons.
The pros of living in a duplex
Affordability: Duplexes are often more affordable than single-family homes, making them a cost-effective option for renters and buyers.
Privacy: Unlike apartment buildings, duplexes typically share only one wall with a neighbor, providing more privacy.
Outdoor space: Many duplexes come with a yard or garden, offering outdoor space for relaxation, gardening, or play.
Garage or parking: Duplexes often include a garage or designated parking space, which can be a significant convenience.
Home-like environment: Duplexes offer a more residential feel compared to apartments, making them a cozy and home-like living option.
Investment potential: For owners, living in one unit and renting out the other can generate rental income and help with mortgage payments.
Less noise: With fewer neighbors compared to an apartment complex, there is generally less noise and foot traffic.
Community feel: Living in a duplex can foster a sense of community, as you often get to know your immediate neighbor well.
Flexibility: Duplexes can offer flexible living arrangements, such as multi-generational living or accommodating extended family members.
Maintenance: In rental duplexes, landlords typically handle exterior and structural maintenance, reducing the burden on tenants.
The cons of living in a duplex
Shared walls: Sharing a wall with neighbors can result in noise disturbances and reduced privacy compared to standalone homes.
Limited outdoor space: While many duplexes have yards, the outdoor space may be smaller or shared with the neighboring unit.
Potential for conflict: Living in close proximity to neighbors can sometimes lead to conflicts over noise, parking, or shared areas.
Less control: Renters in a duplex may have less control over modifications or landscaping compared to owning a single-family home.
Property maintenance: In some cases, tenants may be responsible for certain maintenance tasks, like lawn care or snow removal.
Limited availability: Duplexes are not as common as other types of housing, which can limit options in some areas.
Resale challenges: For owners, selling a duplex can be more challenging than selling a single-family home, as it appeals to a more specific market.
Parking issues: Shared driveways or limited parking spaces can sometimes be a point of contention between neighbors.
Noise and privacy concerns: Despite having fewer neighbors than an apartment, the proximity to another household can still lead to concerns about noise and privacy.
How to find a duplex
Duplexes are a popular rental choice for many due to their combination of space, privacy, and affordability. They tend to be rented out quickly, so finding one can be competitive. Start your search here on Apartmentguide, Rent.com, or Redfin, which frequently list available duplex rentals. Duplexes typically offer more square footage than apartments and sometimes even come with garages, providing a more home-like living experience. Additionally, they often come with flexible lease terms because they’re usually leased out by a private owner.
Other types of multi-unit, residential buildings
The term duplex specifically refers to multi-family housing with two individual units. However, duplexes are just one type of multi-unit apartment building with their own entrance. When a structure features three apartments, it’s called a triplex. Conversely, a structure with four units is a fourplex. Here are some other types of multi-unit residential buildings.
Is a duplex the same as a condo?
No, a duplex is not the same as a condo. While both are types of residential properties, they have distinct differences. Both offer private living spaces, but a duplex is a single building divided into two separate units, typically owned by one person who may rent out one or both units. In contrast, a condo is an individual unit within a larger building or complex, and each unit is owned separately. Condo owners share ownership of common areas like hallways, pools, and gyms, and they pay monthly fees for maintenance and amenities. Both options provide a sense of community, but duplexes offer more privacy with fewer neighbors and typically include some private outdoor space, while condos often come with additional amenities and shared facilities.
Duplex vs twin home
A duplex and a twin home may appear similar at first glance, but they have distinct differences. In contrast, a twin home consists of two separate units that share a common wall but are considered individual properties. Each unit is owned separately, much like two adjoining houses. Homeowners are responsible for their respective sides, including maintenance and insurance. This ownership distinction sets twin homes apart from duplexes, where tenants do not have ownership rights.
Duplex vs accessory dwelling unit
The difference between a duplex and an accessory dwelling unit (ADU) is significant. An ADU is a secondary housing unit on the same lot as a single-family home. ADUs can be attached to the main house, such as a basement or garage conversion, or they can be a separate, smaller structure, like a backyard cottage. ADUs are typically used to provide additional living space for family members, guests, or renters but are not considered separate properties. The primary residence remains the main dwelling on the lot, and the ADU is supplementary.
The NYC definition of duplex apartments
In New York City, the definition of a duplex apartment is different. Here, a duplex refers to a single apartment spread over two floors, connected by stairs or an elevator.
Key features of NYC duplexes include:
Single unit: Despite having two floors, it’s listed as one unit.
Separate bedrooms and bathrooms: Each floor typically has its own bedroom and bathroom.
Shared common areas: The first floor usually includes shared spaces like the living room and kitchen.
Because of their spacious layout, NYC duplexes are often considered luxury apartments, offering renters the benefits of a two-bedroom apartment with added privacy and convenience.
Additionally, duplexes can sometimes be confused with twin homes or accessory dwelling units, further adding to the confusion.
Duplex FAQs
Is a duplex the same as a semi-attached home?
No, a duplex is one building with two units, while a semi-attached home shares one wall with another house but is otherwise separate.
Can a duplex have multiple owners?
Yes, each unit in a duplex can be owned by different individuals, especially in cases where the property is subdivided.
Can you rent both units of a duplex?
Yes, it is possible to rent both units of a duplex, either for residential or investment purposes.
Is living in a duplex more private than an apartment?
Yes, duplexes generally offer more privacy than apartments because they only share one wall and often have separate entrances.
Do duplexes have separate addresses for each unit?
Yes, each unit in a duplex typically has its own address, mail delivery, and entrance.