A majority of Americans polled by real estate service Trulia don’t expect the housing market to recover until after 2012.
Another 27 percent expect things to recover in 2012, and just 10 percent see a housing recovery next year.
Just one percent think it will recover this year, and four percent think we’ve already recovered.
One in five polled believe we won’t see a recovery until 2015 or later, which may be true depending upon where you reside.
Hard-hit areas like Las Vegas and Miami may have years to go before home prices near previous highs seen in the latest housing boom.
In fact, a study conducted a while back suggested that underwater homeowners in Sin City can only look forward to dismal home equity of $1,039 by 2020.
That’s right, ten years to see positive equity of just over $1,000, clearly not enough to sell the home and walk away with a profit.
Speaking of underwater borrowers, nearly half (48 percent) of homeowners with a mortgage admitted they would consider walking away if their mortgage was underwater, up from 41 percent in the May survey.
And men (57 percent) are more likely than women (40 percent) to consider strategic default when dealing with negative equity.
If mortgage payments became unmanageable, only two-thirds of homeowners said they would consider calling their mortgage lender to seek a loan modification, with the next most popular solution having a tenant move in.
More consumers said they were at least somewhat likely to consider the purchase of a foreclosed property, up from 45 percent in May, although their expectations for a discount still seem to be running high.
Finally, half of those polled expressed that they now have less faith in mortgage lenders, banks and the government as a result of the recent robosigning mess.
Another 35 percent believe it will delay the housing market’s recovery.
The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007.
The survey also indicates a large dispersion in rates, meaning that homebuyers can save hundreds of dollars by shopping around with different lenders.
A year ago at this time, rates averaged 3.01%. “The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. The index compiles only purchase mortgage rates reported by lenders during the past three days.
Inflation rose more than expected in August as rising shelter and food costs offset a drop in gas prices. Consequently, the Federal Reserve increased the federal funds rate by 75 basis points at its Federal Open Market Committee (FOMC) meeting in September.
Another 125 basis points in hikes are still to come in 2022, with a federal funds rate topping out well above 4%.
Treasury yields show higher rates in the short term, signaling a recession on the horizon. The 2-year note, most closely tied to the Fed’s interest rate moves, increased five bps to 4.07% on Wednesday from the prior week. The 10-year note went from 3.51% to 3.72% in the same period.
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On HousingWire’s Mortgage Rates Center, Black Knight’s Optimal Blue OBMMI pricing engine measured the 30-year conforming mortgage rate at 6.643% on Wednesday, up from 6.124% the previous week. Meanwhile, the 30-year fixed-rate jumbo was at 6.294% Wednesday, up from 5.821% the week prior.
An LO in the Miami, Florida area told HousingWire that on a $400,000 home purchase, with 5% down, a 700 FICO score, his clients are being quoted 7% for conventional loans and 6.125% on FHA and VA mortgages.
“This will be a time of changes,” he said. “Many LOs will leave the industry (especially the ones that only do refis and only sell interest rates), others will move probably from retail to wholesale. Lenders will close and some others will need to merge because of the new liquidity regulations that are coming in 2023.”
Pressure on demand
Pressure on rates has sharply reduced demand for mortgage loans, according to the Mortgage Bankers Association (MBA).
The market composite index, a measure of mortgage loan application volume, declined 3.7% for the week ending Sep. 23. The refinance index had a 11% decline from the previous week, and the purchase index was marginally down 0.4%.
According to Freddie Mac, the 15-year fixed-rate purchase mortgage averaged 6.52%, up from last week’s 6.25%. Jumbo mortgage loans (greater than $647,200) increased to 6.01% from 5.79% in the same period.
“Our survey indicates that the range of weekly rate quotes for the 30-year fixed-rate mortgage has more than doubled over the last year,” Khater said. “This means that for the typical mortgage amount, a borrower who locked-in at the higher end of the range would pay several hundred dollars more than a borrower who locked-in at the lower end of the range.”
To convince borrowers to take out a mortgage loan, some loan officers and lenders are highlighting how home prices are more affordable now than last year – and the ability of a borrower to refinance the loan when rates decline again.
“There is more inventory relative to demand, and deals can be found. It’s transitioning to a buyers’ market, as 20% of sellers had a price reduction in August 2022, compared with 11% a year ago,” said Rich Weidel, CEO at Princeton Mortgage. “It’s now possible to buy a home for $400,000 that would have sold for $500,000 in 2021.”
According to Weidel, if a prospective borrower bought that house in 2021 for $500,000 and put 20% down, the principal and interest, with rates at 3%, would be $1,686. Today, if the house could be bought at $400,000 and the interest rate was 7%, the payment would be $2,129.
The homebuyer will pay more $5,316 per year due to the difference in rates, but would save $100,000 buying the house today compared to last year.
“Eventually, rates will come back down, and you can refinance the rate,” Weidell said. “If rates stay at 7%, it would take 18 years for the higher payment of $5,316 per year to chew up the $100,000 you saved buying the house.”
Still, home prices aren’t falling so dramatically in most markets. Not yet anyway.
“Some buyers are giving low ball offers in the hope of having their offers accepted,” one mortgage broker/owner in Southern California told HousingWire. “Still the seller’s motivation is the key factor for whether to drop the price or not. The other issue is that many Realtors are still dreaming about having buyers fight over the properties and use that as a point of sale – but whether they succeed or not, that’s another question.”
The surging pandemic-fueled rental market has almost — but not quite — turned a corner.
In an interview the day before the latest inflation data was released, Jeff Tucker, senior economist at the real estate website Zillow, said he was optimistic that annual rent growth might have peaked in March. But by the next day, the data showed that hadn’t happened yet.
The most recent Bureau of Labor Statistics’ consumer price index data, a proxy for inflation, shows shelter was the largest contributor to overall price increases in April. Over a 12-month period ending in April, the price index for shelter, which includes rent, was up 8.1%, according to the report released May 10. Rent increased 0.6% from March to April, compared with a 0.5% rise the previous month.
The data, while disappointing, doesn’t quite tell the whole story. That’s because CPI data reflects a lag in rent renewals and new leases. Most leases last a year, which means a renter’s costs stay the same all year long. It also means we won’t see 2022 rental housing reflected in the CPI for months to come.
There’s reason to be optimistic about future CPI data this year. Tucker says the growth in rent began decelerating in March 2022 and cooled significantly in late 2022. The give-or-take 12-month lag in the rental portion of the CPI could mean next month’s data might show a downturn.
Still, the most recent Zillow rental data, released May 5, paints what Tucker calls a fairly normal picture of the rental market at this time of year. The 0.6% rise in asking rents from March to April equals about $12 monthly. That’s a slightly smaller increase than the typical April increase of 0.7%, averaged from 2016 to 2019. Typical asking rents, nationally, are now $2,018, representing a 5.3% annual growth rate. The current annual rate is down about 12 percentage points from the peak growth rate of 16.9% in February 2022.
“It’s a welcome signal that the rental market’s not accelerating on some new runaway trajectory of rapidly rising rent,” Tucker says. “And instead, it’s just kind of settling into a fairly normal seasonal pattern for the year.” He adds that April tends to be a “hot” time for rentals.
But today’s “fairly normal” comes on top of rent spikes during the first phase of the pandemic. If rents had continued growing at the steady pre-pandemic annual rate seen from 2015 to 2019, Tucker says, then rents would be a lot lower now.
“It’s more expensive than it used to be and more expensive than someone would have reasonably expected it to be this spring if you’d asked them in February of 2020,” Tucker says. “The kind of good news that things are not on a new runaway growth trajectory is maybe more like a silver lining to a still fairly bleak picture for renters in terms of affordability.”
What makes rent unaffordable?
Recent rental data from Zillow may show a downward trend in prices, but rent is still unaffordable in most cities in America.
The meaning of unaffordable may vary by household, but the general guideline is you should spend no more than 30% of your gross income on rent. Among the most unaffordable cities, median income earners in six places would be considered “severely rent burdened” by federal standards.
A monthly NerdWallet rent-to-income ratio analysis of 227 cities in the U.S. finds that, based on the most recent data for April, nearly 67% of rents on the market are equal to or above the recommended 30% ratio in March. The previous month’s report shows the ratio in March was 65%. February was the same.
That means, if you live in one of the cities where the rent-to-income is 30% or higher and you earn the median income or less, the typical rent in your area is likely moderately to severely burdensome. Market rent comes from Zillow, based on April data, and median household income used for this analysis is from 2021 U.S. Census Bureau data. The data doesn’t differentiate between incomes for residents who own rather than rent in those cities.
By federal standards, spending 30% to 49% of income on rent means a household is “moderately rent burdened,” and spending 50% or more means a household is “severely rent burdened,” according to the NYU Furman Center, which conducts research about housing and urban policy.
Among the 227 cities analyzed, seven have rent-to-income ratios that put renters with median incomes in the “severely rent burdened” category for April 2023:
Bridgeport, Connecticut: 70.71%.
Trenton, New Jersey: 70.55%.
Miami: 68.98%.
Santa Maria, California: 60.68%.
New York City: 56.99%.
Madera, California: 53.39%.
Los Angeles: 50.14%.
Renters with the greatest financial burden for housing tend to be seniors, low-income households, immigrants and racial or ethnic minorities, according to a 2015 Zillow analysis of U.S. Census Bureau data.
Here are the cities with the least and most affordable rental housing markets, according to April 2023 rental market data by Zillow.
Methodology: Rent-to-income ratios by metro area
NerdWallet pulled the most recent available market rental data for 529 cities from the Zillow Observed Rent Index and matched it with the most recent available median household income data (2021) for cities by the U.S. Census Bureau. Certain cities identified in the Zillow Observed Rent Index weren’t included in the U.S. Census Bureau list of median household incomes by city and thus weren’t included in this analysis. A total of 227 cities were identified by both sets of data. Then, NerdWallet calculated the rent-to-income ratio using the following formula: Market rent/(median income/12 months).
Cruises can be a great vacation idea, especially if you’re not overly interested in trip planning.
One of the most significant benefits of a cruise is that much of the work is done for you, including the itinerary, dining and entertainment options. That convenience can sometimes come with a big price tag, so it’s normal to wonder, “Are cruises worth it?”
Let’s look at the different aspects of cruising, what’s included on a cruise and how that compares against other vacations.
What’s included on a cruise
One of the best parts about a cruise is that it’s all-inclusive, at least to a certain degree.
The true extent of what’s included will depend on your cruise line and any packages that you have, but in general, here’s what’s included:
Meals, including fast food, sit-down restaurants and some room service.
Other live entertainment.
Pool access and pool towels.
Water, coffee and tea.
Housekeeping.
Port taxes.
What’s not included on a cruise
The free options are likely more than enough to keep you entertained, but if you’re interested in more, the following items typically incur additional costs:
Specialty beverages.
Specialty restaurants.
Spa treatments.
Gift shop purchases.
Excursions.
Some onboard events, such as wine tastings and cooking classes.
Gratuities.
🤓Nerdy Tip
Some cruise lines allow you to bring a limited selection of alcohol onboard.
Pros and cons of a cruise
Is a cruise worth it? It can be, though you’ll want to weigh the pros and cons of your cruise before deciding to book. Here are a few benefits and drawbacks to most cruise vacations:
Food included.
Alcohol and some meals cost extra.
Less planning required.
Less flexibility.
Itinerary can have multiple stops.
May be expensive.
All-in-one booking process.
No control over itinerary.
Entertainment provided.
Ships can be crowded.
Can budget easily.
Additional costs may be inflated.
As you can see, many of the positives of booking a cruise come from convenience. A cruise allows you to pay a single company, after which you’ll be able to enjoy your vacation.
Even if you spend more, you’re still only dealing with a single business and one point of sale. It’s simple and takes far less effort than researching all of your destinations, finding which activities are available, booking accommodations and figuring out where to eat.
But along with the convenience comes a lack of flexibility. Sure, you may be glad to stop at whatever port the cruise line chooses, but what if you’d like to stay overnight? What if you’ve already been to the location and prefer to go elsewhere?
As a guest aboard a ship, you have little control over where you’re going and how long you’ll be there.
And because most cruises aren’t totally all-inclusive, you may spend more than you planned once you’re onboard. If you want to enjoy a few alcoholic drinks, dine at a specialty restaurant or take a guided onshore excursion, the additional costs can add up quickly.
Comparing a cruise to other vacations
So what does it look like when you compare a cruise with other vacations? A trip has many different aspects, including flights, accommodation, meals, activities and more.
Here’s a look at a five-night Eastern Caribbean cruise from Carnival, which is typically a more budget-friendly cruise line.
It takes off in mid-July and makes three stops across five nights, including Turks and Caicos, the Bahamas and Carnival’s private island before returning home.
When adding in taxes, fees and port expenses, you’re looking at $2,184 for two guests — and that doesn’t include tips, Wi-Fi, port excursions or alcohol. However, you get all meals, an interior stateroom, stops in two different countries and plenty of entertainment.
A five-night stay here would cost $1,785 for two adults, and this beachfront resort includes all meals and drinks, even alcohol. You’ll also have access to Wi-Fi, pools, live entertainment and other activities.
Although the resort price itself is less than the cruise, this doesn’t consider the price of flights to the Bahamas, which may cost more than you’d pay when heading to Miami for a cruise.
It also doesn’t include tipping or the cost of other excursions, similar to what you’d find on a ship.
Finally, by booking with a single resort, you’re locked into one destination, which may not work for you if you’re interested in visiting more than one country.
If you’re interested in planning a cruise
So, are cruise ships worth it? They can be, but it’s a personal decision.
Cruises aren’t right for all types of travelers, especially those who value flexibility during their vacations. However, they can present good value to guests looking for convenience, especially since so much of the effort around planning a trip is eliminated.
Before you book a cruise, compare the price of your vacation against similar options — including accommodations, transportation and meals — to decide whether it’s really worth it for you.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
Government officials can’t predict exactly when inflation will go down, but representatives of the International Monetary Fund expect the U.S. inflation rate to reach its 2 percent target by the end of 2023.
The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. See Lexington Law’s editorial disclosure for more information.
Consumers around the world are currently grappling with rising costs, making many people wonder how long this high rate of inflation is going to last. Although the U.S. inflation rate has nearly quadrupled since 2020, inflation is even worse in other countries. In Israel, for example, the inflation rate has increased by 25 times in the last two years.
When inflation is high, consumers have less purchasing power, making it more difficult to afford housing, food, utilities and other necessities. Some consumers have even changed their spending habits to account for rising costs. So, how long will inflation last? No one knows for sure, but it’s possible to make an educated guess based on what the Federal Reserve is currently doing to reduce spending.
What is inflation, and how does it work?
The Federal Reserve defines inflation as an increase in the overall price level of an economy’s products and services. This refers to a general increase in prices, not an increase in a single product or service category. For example, it’s possible for the cost of dairy products to increase without the rate of inflation increasing.
When inflation is high, many consumers have less purchasing power. This is because their income doesn’t buy as many products and services as it did when inflation was low. Inflation also has a negative impact on banks that loan money at fixed interest rates. If a bank makes a loan at 6 percent interest, an inflation rate of 7 percent would reduce its real income, or the amount of money it earns after taking inflation into account.
In the United States, the Consumer Price Index (CPI) helps estimate inflation by tracking the average change of prices over time. This index doesn’t include the price of every good or service. Instead, it uses a market basket of goods and services typically purchased by consumers in urban and metropolitan areas. In July 2022, the U.S. Bureau of Labor Statistics reported that the CPI rose by 1.3 percent in June, bringing the total increase for the last 12 months to 9.1 percent.
Why is inflation so high right now?
Although many Americans are feeling the pinch of higher prices, inflation is a global problem. In response to the COVID-19 pandemic, government officials around the world implemented mandatory lockdowns to prevent the spread of the disease. With so many businesses closed, the demand for goods and services declined.
Once businesses started reopening, demand soared. With the unemployment rate falling to 3.5 percent in July 2022, job seekers have more bargaining power, driving up wages and giving many consumers more money to spend on goods and services. Consumers also saved more money than usual in 2021 due to concerns over how the ongoing pandemic would affect their finances.
Although demand has increased, many companies are unable to fill orders due to manufacturing and shipping backlogs associated with the pandemic. When demand exceeds supply, firms increase their prices, contributing to higher rates of inflation.
Finally, many consumers are spending more on services than goods, increasing demand in the service sector. As a result, it now costs more to rent an apartment, dine at a restaurant or hire someone to perform housekeeping or landscaping services.
The government’s response to inflation
The Federal Reserve is currently implementing contractionary monetary policy to reduce demand and give the economy a chance to cool off. This involves raising interest rates to decrease consumer spending and business-related investment spending.
The Biden-Harris administration is also focused on lowering costs for low-income and middle-class families. President Biden signed the Inflation Reduction Act of 2022 into law on August 16, 2022, and this act aims to reduce energy costs and make healthcare more affordable for Americans.
Because the current inflation rate is associated with high levels of demand, there isn’t much more the federal government can do to bring prices down. The plan is to continue raising rates until the inflation rate returns to 2 percent.
When will inflation go down?
Government officials can’t predict exactly when inflation will go down, but representatives of the International Monetary Fund expect the U.S. inflation rate to reach its 2 percent target by the end of 2023. To reach this target, analysts believe the Federal Reserve will need to raise rates by another 2 to 2.5 percent before then.
Are we in a recession?
Although government officials, consumers and business owners are concerned about the prospect of a recession, the United States hasn’t entered a true recession yet. A recession is characterized by rising levels of unemployment, lower retail sales and negative growth of the gross domestic product (GDP), among other factors.
In July 2022, the Bureau of Economic Analysis reported that the U.S. GDP declined by 1.6 percent in the first quarter of the year and 0.9 percent in the second quarter. Although GDP declined, retail sales increased by 1 percent between May and June 2022. The unemployment rate also fell from 5.4 percent in July 2021 to 3.5 percent in 2022. Therefore, the United States doesn’t yet meet all the criteria for an economic recession.
Where is inflation the worst in the United States?
In the United States, cities tend to have higher inflation rates than suburbs and rural areas, due in part to their higher housing costs. On July 13, 2022, Bloomberg reported that several American cities had crossed the 10 percent mark. Urban Alaska is at 12.4 percent, the Phoenix-Mesa-Scottsdale metro area in Arizona is at 12.3 percent and the Atlanta-Sandy Springs-Roswell metro area in Georgia is at 11.5 percent. Baltimore, Seattle, Houston and Miami also have inflation rates above 10 percent.
Inflation isn’t quite as bad in the New York-Newark-Jersey City metropolitan area, which had a 6.7 percent inflation rate in June 2022. Overall, inflation tends to be higher in the South and Midwest regions than it is in the Northeast region of the United States.
How will inflation affect my 2022 and 2023 taxes?
Take a look at the top ways your upcoming taxes might be affected by inflation.
Taxable income
Federal tax brackets are adjusted for inflation, which means you may drop to a lower tax bracket in 2022 even if your income doesn’t decrease. If high rates of inflation persist, you may get the same tax benefit when you file your 2023 return.
The standard deduction is also adjusted for inflation, so high inflation rates may help you reduce your taxable income even more than in previous years. In 2021, the standard deduction for a single filer was $12,550; for the 2022 tax year, it’s $12,950. If the economy doesn’t cool down quickly, the standard deduction may be even higher in 2023.
Health savings accounts
The annual HSA contribution limit is adjusted for inflation, so high rates of inflation allow you to put aside more money for medical expenses each year. The limits have already been increased for 2022, allowing individuals to contribute $3,650 per year and families to contribute $7,300 per year. In 2023, the limits will increase even more, to $3,850 for individuals and $7,750 for families.
HSA contributions are deducted on a pre-tax basis, so higher contribution limits may leave you with less taxable income, reducing your tax burden.
Retirement contributions
High levels of inflation can even help you save a little more money for your retirement. The contribution limits for 401(k) accounts and individual retirement arrangements (IRAs) are adjusted for inflation, so you can typically save more when inflation is high. For 2022, the 401(k) contribution limit is $20,500, an increase from the $19,500 limit for 2021. The IRA contribution limit didn’t increase for 2022, but it may go up in 2023 if the inflation rate continues to be high.
Although you can’t save more in your IRA this year, the income limit for 2022 was increased to keep up with inflation. As a result, you can now participate in a Roth IRA if your income doesn’t exceed $144,000 ($214,000 for married couples filing jointly).
Social Security
If you have combined income of more than $25,000 in a year as a single filer, your Social Security benefits are subject to federal income taxes; the limit increases to $32,000 for married couples filing jointly. Combined income includes half your Social Security benefits, your adjusted gross income and your tax-exempt interest income. These income limits aren’t adjusted for inflation, but Social Security benefits are.
For 2022, the federal government implemented a 5.9 percent cost-of-living increase for Social Security beneficiaries, and the 2023 adjustment could be as high as 10 percent, or even slightly more—we’ll know for sure in October 2022. This increase could push your combined income above the $25,000/$32,000 limit, making your Social Security benefits taxable for the first time.
Capital gains taxes
When you sell certain assets, you must pay capital gains tax on your profit. If you sell when inflation is high, you could end up with a profit on paper even if the sale results in a real loss. This typically happens when high rates of inflation erode your purchasing power over time.
If you made a $100,000 investment in 1980 and sold it for $200,000 today, it would look like you made a profit of $100,000. The truth is that $100,000 in 1980 dollars is equivalent to about $359,600 today. Although you made a profit on paper, you really lost a significant amount of purchasing power. Unless you qualified for some type of exemption, you’d have to pay capital gains tax since the purchase price of assets isn’t adjusted for inflation.
How can I save money while inflation is high?
You can’t control the national economy, but there are a few things you can do to strengthen your financial position while inflation is high.
Eat more meatless meals. Meat, poultry and eggs are among the food products with the highest price increases in 2022. To lessen the effects of rising costs on your budget, try adding a few meatless meals to your weekly menu.
Track your spending. If you don’t keep track of your spending, it’s easy to spend much more than you realize. Keep a record of how much you spend on necessities as well as extras like streaming subscriptions and movie tickets.
Start meal planning. If you spot a good deal at the grocery store, you can take advantage by planning several meals around that ingredient. For example, if a store is advertising chicken for $2.49 per pound, you may want to plan on eating chicken salad sandwiches for lunch each day that week.
Cancel unused subscriptions: In June 2022, Sarah O’Brien of CNBC reported that more than 40 percent of consumers were paying for at least one subscription they didn’t use. Unused subscriptions leave you with less money in your pocket, so canceling them can help you weather this period of high inflation.
Maintain a high credit score. When you have good credit, you typically qualify for lower interest rates and other favorable loan terms. If you have to borrow money while inflation is high, maintaining a healthy score can help you save money.
Keep the faith
Inflation makes it a little tougher to meet your financial goals, but that doesn’t mean you should give up on managing your finances responsibly. You can save money by tracking your spending, canceling unused subscriptions and planning your meals according to what foods are on sale each week.
Maintaining good credit can help you save money in the long run if you have to take out a loan or otherwise buy on credit. If your credit is lower than you’d like it to be, work with the credit repair consultants at Lexington Law to identify inaccurate negative items on your credit reports and make sure outdated information isn’t being held against you.
Note: Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.
Reviewed By
Brittany Sifontes
Attorney
Prior to joining Lexington, Brittany practiced a mix of criminal law and family law.
Brittany began her legal career at the Maricopa County Public Defender’s Office, and then moved into private practice. Brittany represented clients with charges ranging from drug sales, to sexual related offenses, to homicides. Brittany appeared in several hundred criminal court hearings, including felony and misdemeanor trials, evidentiary hearings, and pretrial hearings. In addition to criminal cases, Brittany also represented persons and families in a variety of family court matters including dissolution of marriage, legal separation, child support, paternity, parenting time, legal decision-making (formerly “custody”), spousal maintenance, modifications and enforcement of existing orders, relocation, and orders of protection. As a result, Brittany has extensive courtroom experience. Brittany attended the University of Colorado at Boulder for her undergraduate degree and attended Arizona Summit Law School for her law degree. At Arizona Summit Law school, Brittany graduated Summa Cum Laude and ranked 11th in her graduating class.
These college towns in Florida are known for keeping students around long after they get their caps and gowns.
Known as the Sunshine State, Florida offers a unique blend of warm weather, diverse culture and outstanding educational opportunities. With its world-class universities and vibrant college towns, Florida is an excellent destination for students seeking a memorable college experience. In this article, we’ll explore the best college towns in Florida. Get ready to discover what makes these towns exceptional places to live, learn and create the future you desire most.
As the capital city of Florida, Tallahassee is home to Florida State University and Florida A&M University. With its rich history, bustling downtown and a strong sense of community, Tallahassee offers a unique college experience in a metropolitan setting.
Downtown Tallahassee is lively with a diverse array of restaurants, bars and shops. Foodies will appreciate the city’s culinary offerings, which range from casual eateries like Madison Social to upscale dining at 347 Grille by Coach Shula. The city also hosts numerous events throughout the year, such as the Tallahassee Downtown Market and the Winter Festival.
For those who enjoy spending time outdoors, Tallahassee’s numerous parks, including Cascades Park and Alfred B. Maclay Gardens State Park, provide opportunities for getting your steps in, soaking up the sun and absorbing the sights. The city’s location in the Florida Panhandle also means that beautiful beaches are always just a short drive away.
Home to the prestigious University of Miami, Coral Gables is a charming city with a distinctive Mediterranean flair. Known for its tree-lined streets, elegant architecture and upscale dining and shopping, Coral Gables offers students an idyllic setting for pursuing their college education.
Downtown Coral Gables is home to a variety of unique shops, galleries and restaurants, providing students with ample opportunities for dining and entertainment at the drop of a hat. The city also boasts several attractions geared specifically toward creatives, like Lowe Art Museum and Coral Gables Art Cinema, which host exhibitions, exclusive film screenings and other events throughout the year.
Outdoor enthusiasts will find plenty to enjoy in Coral Gables and the surrounding area. The Fairchild Tropical Botanic Garden and the nearby Biscayne Bay offer opportunities for walking, biking and water sports. The city’s proximity to Miami also means that students can easily explore the vibrant culture and nightlife that made the city world famous.
Located on Florida’s Gulf Coast, Tampa is home to several colleges and universities, including the University of South Florida, the University of Tampa and Hillsborough Community College. With its bustling downtown, rich history and stunning waterfront, Tampa offers a unique bayside college experience.
Downtown Tampa features a diverse selection of shops, restaurants and attractions, like the Tampa Theatre and the Tampa Riverwalk. The city also hosts various events throughout the year, like the Gasparilla Pirate Festival and the Tampa Bay Margarita Festival. Pirates and margaritas, does anything else really need to be said?
Tampa’s location along the shores of Tampa Bay provides numerous opportunities for beachgoers and water sports enthusiasts. The nearby Gulf beaches offer beautiful settings for swimming, sunbathing, boating and more. The city also boasts several parks, like Al Lopez Park and Lettuce Lake Park, which offer opportunities to enjoy the best of the great outdoors under the shining Florida sun.
Home to the University of Florida, Gainesville is a quintessential college town that offers a perfect blend of academic excellence, natural beauty and a strong sense of community. With its lively downtown, picturesque campus and numerous outdoor attractions, Gainesville provides students with everything they need and then some to get the absolute most out of their college experience.
Downtown Gainesville features a variety of shops, restaurants and bars, like the popular Bo Diddley Plaza, which hosts live music, farmers’ markets and other events throughout the year. The city is also home to several cultural attractions, like the Harn Museum of Art and the Florida Museum of Natural History, which offer enriching experiences for students and residents alike.
Gainesville’s location in North Central Florida means that students have access to numerous outdoor recreational opportunities. The nearby Devil’s Millhopper Geological State Park and the Kanapaha Botanical Gardens provide beautiful settings for hiking, biking and wildlife observation. The city’s extensive network of nature trails offers additional opportunities for outdoor exploration whenever the mood to reconnect with Mother Nature strikes.
Known as the Theme Park Capital of the World, Orlando is home to several colleges and universities, including the University of Central Florida, Rollins College and Valencia Community College. With its bustling economy, diverse cultural attractions and innovative spirit, Orlando is a city that provides students with an exciting college experience in the heart of Central Florida.
Downtown Orlando boasts a number of shops, restaurants and entertainment options, like the Dr. Phillips Center for the Performing Arts and Church Street District. The city also hosts numerous events throughout the year, including the Orlando Film Festival and the annual Downtown Food and Wine Fest.
Orlando’s location in Central Florida means that students are just a short drive away from some of the world’s most famous theme parks. The city also offers numerous outdoor recreational opportunities, with public parks like Lake Eola Park and Harry P. Leu Gardens providing beautiful settings for full days of fun under the shining Central Florida sun.
As an honorable mention on our list of best college towns in Florida, Boca Raton is home to Florida Atlantic University and Lynn University. This upscale coastal town located along Florida’s Gold Coast offers students a unique college experience in a picturesque and luxurious setting.
Downtown Boca Raton, known for its elegant architecture and upscale shopping, features a variety of boutiques, eateries and galleries. The city also boasts several cultural attractions, like the Boca Raton Museum of Art and the Mizner Park Amphitheater, which host exhibitions, concerts and other unique events throughout the year.
Boca Raton’s coastal location comes with numerous benefits. The city’s beautiful beaches provide idyllic settings for swimming, sunbathing, snorkeling and so much more. The city is also peppered with several parks, like Gumbo Limbo Nature Center and Sugar Sand Park, which are meticulously manicured and always ready to support a day of activity in the beautiful Orlando weather.
Find your favorite Florida college town
Florida is home to some of the best college towns in the United States, each offering a unique blend of academic excellence, cultural attractions and recreational opportunities.
Whether you’re drawn to Tallahassee’s capital city charm, Coral Gables’ Mediterranean elegance, Tampa’s bayside allure, Gainesville’s quintessential college town atmosphere, Orlando’s theme park-fueled excitement or Boca Raton’s coastal luxury, there’s a college town in Florida that’s perfect for you.
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Most people’s income comes as the direct result of work — you get a job, show up, hopefully perform decently well and then money shows up in your bank account. Some people, though, look to set up streams of passive income — money that flows into your account regularly that doesn’t require any direct work. As with any income, though, there are tax implications for potential passive income streams. Here’s how it works.
If you would like professional help developing a comprehensive investment plan, consider working with a financial advisor.
What Is Passive Income?
Passive income is also often called unearned income, which differentiates from earned income — money you get from working for a company or yourself. Common forms of passive income are earnings from rental properties, returns on investments and interest on savings accounts.
Passive income is named as such because it doesn’t require any regular action on your part; once you have the stream established, it can mostly be set and forgotten.
Passive Income and Taxation
Generally speaking, passive income is taxed the same as active income. However, the exact tax treatment will depend on the exact source of your passive income and your financial situation as a whole. Let’s take a look at three examples.
Rental properties: Rental income is taxed the same way as regular income. All rent payments, security deposits, pet fees and any other payments you get for the use or occupation of your property count as rental income. That said, you can deduct many expenses related to a rental property, including mortgage interest, property tax, operating expenses, depreciation and repairs.
Stock dividends: Dividends — money distributed to shareholders from a company’s earnings — are taxed depending on whether they’re classified as ordinary or qualified. Ordinary dividends are taxed the same way as ordinary income, while qualified dividends are taxed as capital gains.
Savings account interest: You will owe taxes on most interest from an account that you can withdraw from in the year you receive that interest. This interest is taxed the same as earned income.
Passive vs. Active Income Tax
We’ve seen that in the vast majority of situations, passive income is taxed in much the same way as active income, but there can be some differences. After all, the taxes you owe will be determined not just by whether your income is passive or active, but your overall financial picture. You may find that working with a financial advisor can help you reduce your tax burden and maximize your passive income.
To get a sense of what your total income tax bill will be for the year, use SmartAsset’s free income tax calculator.
Passive Income Streams
It may be prudent to create multiple passive income streams rather than focusing on one. The principle of diversification applies here just as it would in building a stock portfolio: you can lower your risk and potentially increase your returns by spreading your investments among multiple areas.
As you start thinking about passive income and ways to earn it, try to create a varied portfolio with different asset classes, regions and sectors. Say you decide to purchase and rent out ten homes in Miami. You may be sitting pretty, doing minimal work and collecting thousands in rent each month. But if a hurricane comes through and levels all those homes, it’s going to take a lot of time and effort to get back to that position. That’s why it’s important to diversify.
Ways to Earn Passive Income
There’s no denying that passive income is a highly desirable way to build your net worth. Here are some great ways to develop a passive income stream yourself:
Rental properties: Buying a home, condo or apartment complex and renting it out is one way to generate passive income. Of all the passive income options, this one might require the most work as landlords often need to take on multiple responsibilities to ensure their property remains in good condition and their tenants remain happy.
REITs: If you want to get into real estate without doing the actual work of being a landlord, a real estate investment trust (REIT) is an excellent option. REITs own or manage real estate and allow you to invest in the business — and they’re known for their high-yield dividends.
Dividend stocks: Dividend stocks distribute a portion of the company’s earnings to the shareholders on a regular basis and can be an excellent source of passive income.
Bond ladders: A bond ladder is a portfolio where each bond comes to maturity at a different time at a steady pace. This is a low-risk way to generate steady income.
High-yield CDs: In the current high-interest-rate environment, high-yield CDs are a particularly appealing option. With this option, you hand over your money for a set amount of time — often 12 months or more — and are paid a set interest rate over the life of the CD.
High-yield savings accounts: These also benefit from the current rising rate environment and are an excellent option for passive income, though you will usually need to maintain a high balance to earn the top interest rate.
How to Grow Passive Income & Pay Little-to-No Tax Forever
Here are some tips for generating passive income while keeping taxes low:
Focus on investments that will be taxed as long-term capital gains. Capital gains are the profits you make selling an investment. Say you bought a stock for $5 and two years later sold it for $10—the $5 in profit is known as capital gains. If you sold the stock within a year of buying it, it would be taxed as regular income. If you held it for more than a year, though, it is considered a long-term capital gain and is taxed at either 0%, 15% or 20% depending on your taxable income.
Municipal bonds are not taxed by the federal government and those issued within your state may not be taxed by the state or municipality as well. These bonds are a safe bet and a great way to earn interest, save on taxes and help your government fund public projects and services.
A Roth IRA isn’t the sexiest investment option, but they grow tax-free and you won’t owe taxes on withdrawals as long as you’re 59 ½ or older and have had the account for at least five years. This is a good way to establish passive income when you’re retired.
The Bottom Line
While earning money without working for it may sound like a pipe dream, it’s more accessible than you think. If you have savings, put them to work generating passive income for you—just understand the tax implications before you do so.
Investment Tips
A financial advisor can help you build a robust stream of passive income. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Whether you’re considering getting started with investing or you’re already a seasoned investor, an investment calculator can help you figure out how to meet your goals. To see how much your investments will grow over time with a fixed rate of return, use our investment return and growth calculator.
It feels a little like 2006, but it’s entirely different, or so they say.
A lender by the name of Quontic Bank based out of Astoria, New York (Queens) has been offering its so-called “Lite Doc” loan to homeowners who can’t typically qualify for a mortgage.
The problem comes down to income, which can be a roadblock for many would-be homeowners, even if they have plenty of assets and great credit.
The beauty of Quontic Bank is that it’s designated as a Community Development Financial institution, or CDFI, meaning it is exempt from the Ability-to-Repay rule that generally applies to all home mortgages.
The ATR means underwriters must verify a borrower’s income, assets, job status, and their DTI ratio, among other things.
Because Quontic is a CDFI, which is supposed to generate “economic growth and opportunity” in the “most distressed communities,” it can bypass those stringent rules and make mortgages based on its own risk appetite.
Before you get in a tizzy, note that this new seemingly high-risk loan has some pretty strict underwriting criteria.
What Exactly Is Lite Doc?
Perhaps most important, the Lite Doc loan from Quontic Bank reportedly requires a 40% down payment. Yes, you read that right. A whopping 40%. I don’t know if any mortgage would ever be delinquent if it required a 40% down payment.
Today, home buyers are much more likely to put down 3% than they are 40%…and you know which ones will probably default first.
That removes a ton of the risk, but the Lite Doc loan doesn’t require income documentation if the borrower isn’t self-employed, which might be somewhat worrying.
Instead, they simply need to provide two months bank statements and verification of employment. This compares to standard underwriting protocol that calls for two years of tax returns, recent pay stubs, and so on.
But to lessen the risk even further, the Lite Doc loan also has a minimum FICO score of 700, as opposed to say the 580 minimum score needed to put just 3.5% down with an FHA loan.
That’s not all! The Lite Doc borrower also needs to show 12 months of reserves in the bank, that is, a full year of housing payments on the proposed loan including principal, interest, taxes, and insurance.
So to get this straight, the Lite Doc loan requires a 40% down payment, 700 credit score, 12 months reserves. Oh, and the property has to be your primary residence.
In other words, these loans probably won’t default anytime soon. The only weird part about the program is the fact that the Lite Doc loan is a five-year adjustable-rate mortgage.
That seemingly makes the loans riskier because they could adjust higher after just five years and if this program (or one like it) isn’t around then, these borrowers may be forced to sell if they can’t afford payments or refinance.
So far, just a small handful of these loans have been extended to borrowers in places like Miami and New York, apparently to immigrants who have the dough but not the steady job history required to get a traditional mortgage.
Could This Loan Be Better Than the Ones Major Banks Offer?
This whole thing made me think – are these loans that require less documentation better than the standard QM-compliant offerings being pitched by the likes of Bank of America, Chase, and Wells Fargo?
Just look at the yourFirst Mortgage or the Affordable Loan Solution, both of which require just 3% down payment and a 620 credit score.
That doesn’t sound like a recipe for a quality mortgage, especially if originated at a time when home prices are seen as lofty.
Sure, these borrowers might be able to qualify using full documentation, and the loans feature fixed interest rates, but what if the homeowner loses their job, or takes a pay cut?
The borrower who puts just 3% down doesn’t have much of a cushion (if any) when it comes time to sell to avoid default or foreclosure. The typical home sale may cost 8-10%, so 3% down simply won’t cut it.
Conversely, the borrower with a 60% LTV mortgage will have no trouble selling if they can’t keep up with payments, and without harming the issuing bank (or taxpayers).
I’m not saying we should usher in stated income loans again, but I do question the quality of super-low down payment mortgages coupled with what many would refer to as marginal-to-poor credit scores.
As the U.S. housing market powers through the coronavirus pandemic, home prices are rising, bidding wars are erupting — and renting is growing more attractive in some booming markets. That’s according to an index released Thursday.
Buying in Dallas, Denver, Houston and Kansas City carries significant risk, because of fast-rising home prices and the potential for future declines, according to the latest Beracha, Hardin & Johnson Buy vs. Rent Index.
On the other hand, it makes sense to buy in Chicago, Cleveland and New York City. And the rent-or-buy calculus is “a virtual toss-up” in Boston, Detroit, Milwaukee, Minneapolis and St. Louis, says index co-author Ken H. Johnson, a real estate economist at Florida Atlantic University.
The index measures whether consumers will create greater wealth by buying a home and building equity or renting and reinvesting the money they would have spent on ownership, such as taxes, insurance and maintenance. The index looks at 23 metro areas, factoring in home prices, rents, mortgage rates, investment returns, property taxes, insurance and home maintenance costs.
The markets that most favor renting
The Buy vs. Rent Index’s figures for the first quarter show that home prices are above their long-term average in some markets, including Portland, Pittsburgh and Miami. That means consumers should rent and reinvest rather than buy and build equity in those markets.
The five markets that most favor renting rather than buying are places that experienced strong buyer interest during the summer:
Dallas: This metro area’s reading is 0.54 out of a maximum of 1.
Denver: This region’s index is 0.48.
Houston: Its index is 0.43.
Kansas City: The metro area’s reading is 0.33.
Seattle: Its index is 0.27.
The markets that most favor buying
Cleveland: Its index was -0.15 of a possible -1.22.
New York: Its index was -0.21.
Chicago: Its index of -0.23 was the lowest reading.
Housing markets in both Chicago and New York have struggled recently. Chicagoland remains a corporate hub that’s home to dozens of Fortune 500 headquarters, but Illinois has been losing population and posting tepid job growth.
Meanwhile, Manhattan sales volumes have been hit hard by COVID-19, while the surrounding boroughs and suburbs have seen an uptick in demand, according to Jonathan Miller, a Manhattan-based appraiser and head of Miller Samuel Inc.
Johnson acknowledges that buying in Chicago or New York isn’t foolproof. The index’s conclusion that the two major metro areas are underpriced is based on historic pricing patterns. But it doesn’t factor in the possibility that New York real estate could permanently lose its appeal because of the coronavirus pandemic, high taxes or some other reason.
If New York City falls from favor as an international destination, Johnson says, “all bets are off on New York housing. If not, the housing market in the area should ride out this rough patch quite well based on the historical performance of housing for the area.”
The index was created by economists at Florida Atlantic University and Florida International University. Johnson describes the findings for New York City this way: Of 100 people who buy homes in the New York or Chicago metro areas in the fourth quarter, 70 would amass more wealth from owning and building equity, while the other 30 would acquire more wealth by renting and reinvesting the cash that would otherwise be spent on ownership in a portfolio of stocks and bonds.
America was largely settled by immigrants: These cities lean into that fact.
Moving to a new place can be pretty scary for anyone, but it’s especially intimidating if you aren’t welcomed with open arms. This happens all too often, despite the fact that immigrants and migrants from other states are vital components of any area’s economic and social well-being.
In fact, they actually make up a significant portion of the workforce, and cities with higher immigrant populations tend to experience greater economic growth than other areas. Immigrants also help to offset population decline, which heads off economic disasters. Plus, they readily invest in their new area by opening businesses and thus creating jobs. In short, immigrants tend to show up and take care of business and enjoy upward mobility in the process.
These types of cities are the most welcoming to immigrants
The Bush Institute-SMU Economic Growth Initiative recently ranked cities based on how welcoming they are to newcomers. The outfit says that certain cities, like those that are “knowledge-centric,” are the best options. This includes cities renowned for their technology or finance industries — and college towns where education and forward-thinking are paramount.
Many such cities offer a lot of opportunities compared to where a person comes from, thanks to their economic and professional profile. So a city with a higher opportunity score is likely to provide the chance at a higher quality of life than some others. Now, let’s dissect this data, figure out what comprises a higher life quality and reveal these cities in all of their hospitable glory.
The first entry in the top 10 most welcoming cities in the U.S. is State College, Pennsylvania, the appropriately named home to Penn State University. From the period 2010-2021, the city saw an ever-so-slight decline in domestic migration’s contribution to population growth in the area (minus 3 percent), but experienced an uptick of 6 percent related to immigration.
With an overall population of just over 157,000, State College is one of the smallest on our list, but the numbers are hardly what you would call irrelevant. In fact, the opportunity score in State College is one of the highest on our list, at 117 percent, meaning that newcomers average greater quality of life/opportunity by 17 percent compared with their parents. Some of the influx of immigrants to this area is due to the fact that more than 11,000 students from various countries head to Penn State for its varied educational opportunities.
9. Orlando-Kissimmee-Sanford, Florida
Both domestic migration and immigration contributed to the population in the Orlando-Kissimmee-Sanford, Florida metro area, at basically the same rate of 9 percent! With a total population of nearly 2.7 million, this area is the third-largest on our list, which translates to big numbers, in terms of newcomers to the area. The opportunity score is slightly lower than that of State College, at 92 percent, however, it’s mitigated by the area’s reputation for being friendly to newcomers!
The draw is likely due to a preponderance of jobs thanks in part to the state’s booming tourism industry, but also the fact that central Florida already has a lot of immigrants makes it appealing to newbies. This section of Florida is a well-oiled machine for welcoming newcomers, and it translates into more and more each year.
Not so far away from the OG immigrant spot, Plymouth Rock is the metro area of Boston/Cambridge/Newton, which spans parts of Massachusetts and New Hampshire. Immigration to the area went up by 7 percent, although domestic migration took a dip of minus 4 percent.
The metro’s population totals 4.9 million, making even tiny immigration upticks extremely significant. These days, most immigrants to the area come from China, the Dominican Republic and Haiti, the City of Boston says, and are likely lured there by its opportunity score of 117 percent. They most often matriculate into jobs that are blue-collar (construction, production, repair, natural resources) or within the service industry. As these are all very important to growth, the immigrant population is filling a lot of important roles.
7. Naples-Marco Island, FL
Moving back to sunny Florida, the metro of Naples-Marco Island, Florida is considered another particularly hospitable area to newcomers. Found near the southern end of the state outside of Miami, many of these newbies are important to the local agriculture scene and are drawn to the area by such jobs. They’re also critical to recovery from all-too-frequent hurricanes that hit the area, which necessitate skilled hands at construction and other trade jobs.
Domestic migration actually contributed more to population growth here than anywhere else on our list (up 18 percent!) and immigration was also higher by 7 percent. The opportunity score hovers at 101 percent.
6. Fargo, North Dakota/Minnesota
The next metro area on our list could not be any more different from Naples if it tried, weather-wise. The far northern area of Fargo, North Dakota/Minnesota is especially dependent on immigrants to fill important positions within both the manufacturing and production industries, although many also work in sales and healthcare positions.
Many relocate to the chilly, but friendly area from the Philippines, in particular. Domestic migrants to the area were up by 7 percent, while immigrants were also higher by 4 percent. The opportunity score of 133 percent is one of the best on our list, meaning that someone who moves to this area can experience 33 percent worth of improvement in opportunity compared with where they came from.
5. Miami-Fort Lauderdale-Pompano Beach, Florida
Although domestic migration to the Miami/Fort Lauderdale/Pompano Beach area of Florida has declined by 5 percent in recent years, immigration is up quite a bit at 12 percent the highest uptick on our list). With nearly 6.1 million residents in this metro area, that translates to quite a few newcomers.
Miami has indeed turned into a hotbed of opportunity for Latines, in particular, as they frequently hold STEM positions and 73 percent of local businesses are owned by immigrants. They are also attending local colleges and universities and contribute tremendously to the local economy as consumers.
4. San Jose-Sunnyvale-Santa Clara, CA
The lone West Coast metro on our list, the area of San Jose-Sunnyvale-Santa Clara, California has experienced a decline in domestic migration of minus 11 percent, but an increase in immigration of 8 percent. Asian-born immigrants make up a significant portion of this population, although it certainly sees plenty of Latine newcomers, as well.
Many flock to the area for the tech opportunities it is known for, as well as the excellent school systems for their children. However, the ever-rising cost of living in California is making it difficult for many to stay in the area. That said, the opportunity is so rich in the area that the typical person enjoys 23 percent greater opportunity (score of 123 overall).
Moving back over to the Midwest, Iowa City is considered the third most welcoming city in America. Perhaps this is because the area has a reputation for welcoming immigrants historically. Whatever the reason, the city/state regularly take in people fleeing natural disasters or devastating conflicts in their home countries, including those from Ethiopia and Bosnia. There’s also a strong contingent of Hispanic people who come to the area looking for professional opportunities.
Both domestic migration (1 percent) and immigration to the area (7 percent) have increased in recent years, continuing this region’s longstanding reputation as one that welcomes others with open arms. Much like San Jose, the opportunity score in this area is 123 percent.
The central Minnesota city of St. Cloud is runner-up as the most welcoming city in America. Immigration to the metro is up by 4 percent, however, domestic migration declined in the same time period by three percent. St. Cloud boasts the highest opportunity score on our list at 145 percent, meaning that people can earn and live at a better quality by nearly 50 percent compared the previous generation.
Immigrants to the area tend to come from East African countries like Somalia, however, people from Kenya, Vietnam, Mexico and Korea also make up significant portions of the newcomer population. They contribute to the local economy by filling major gaps in the employment force, but also by paying taxes and contributing to Social Security.
1. Ames, Iowa
The smallest city on our list is also the most welcoming of them all. Slightly north of Des Moines is the unassuming metro of Ames, Iowa, with a population of just over 126,000 people.
Domestic migration is down slightly there, however, immigration is on the rise at 7 percent. This Iowa city is known as a safe haven for people seeking asylum from the dangers of their homeland. Many newcomers hail from Ukraine, Honduras and the particularly war-torn parts of Africa.
The community is very much a part of this effort, as volunteers with the Ames Interfaith Refugee Alliance advocate for refugees and help them acclimate to the area upon arrival. They also aim (pun intended) to educate people about immigration and the positive impact they can have on a given area. It also doesn’t hurt that the cost of living in Iowa is way below the national average and that the opportunity score is an impressive 132 percent.
A little bit of hospitality goes a long way
Obviously, there are still many kinks to work out related to the often difficult immigration process. That said, it’s good to know that some cities are doing their best to make it a positive experience for everyone hoping to breathe free in a new land.