Thursday night’s global technology outage is continuing to affect air travelers today, and it may be hours before airlines can catch up.
The outage was caused by a software update from cybersecurity company CrowdStrike, which affected millions of devices using Microsoft, including computers used by airlines, banks and other businesses. Even though CrowdStrike says a fix was deployed and airlines have resumed operations, there will continue to be cancellations and delays today.
As of 2:30 p.m. EST, more than 2,000 flights within, in and out of the U.S. were canceled today — and that’s not counting the delays, which totaled more than 7,000, according to flight tracking service FlightAware.
If you are flying today, check your flight status frequently with your airline before you go to the airport. The most up-to-date information is usually in the airline’s app, so make sure to download it ahead of time for quick access to the latest updates.
You might also want to monitor updates from your departure airport. Some airports are experiencing delays of two hours or more, according to the Federal Aviation Administration. Hartsfield-Jackson Atlanta International Airport (ATL) is the hardest hit airport in the U.S. right now, experiencing average delays of 374 minutes (roughly 6 hours) for departures. New York City-area airports are also some of the hardest hit, with John F. Kennedy International Airport (JFK) delays averaging 171 minutes (nearly 3 hours) and LaGuardia (LGA) averaging 129 minutes (just over 2 hours).
Here are some other steps you can take if you are one of the affected passengers traveling or planning to travel today.
Change your flight
American Airlines, Delta Air Lines, Frontier Airlines, Spirit Airlines and United Airlines have issued waivers for passengers traveling today from certain airports. These waivers will allow passengers to change flights to another day without having to pay a fare difference or change fee. You cannot change the departure or arrival airport or your cabin.
Delta’s and Frontier’s waiver applies to all customers flying today, regardless of airport. Spirit Airlines’ waiver applies to all customers flying today and tomorrow.
American’s waiver, meanwhile, is available for flyers traveling to, from or through these airports:
Boston, Massachusetts (BOS).
Charlotte, North Carolina (CLT).
Chicago-O’Hare, Illinois (ORD).
Dallas-Fort Worth, Texas (DFW).
Los Angeles, California (LAX).
Miami, Florida (MIA).
New York-JFK, New York (JFK).
New York-LGA, New York (LGA).
Philadelphia, Pennsylvania (PHL).
Phoenix, Arizona (PHX).
Washington-Reagan, Washington, D.C. (DCA).
The United Airlines waiver affects travelers going to, from or through these airports:
Cleveland, Ohio (CLE).
Denver, Colorado (DEN).
Newark, New Jersey (EWR).
Frankfurt, Germany. (FRA).
Guam, United States (GUM).
Honolulu, Hawaii (HNL).
Washington-Dulles, Washington, D.C. (IAD).
Houston, Texas (IAH).
Los Angeles, California (LAX).
London- Heathrow, United Kingdom (LHR).
Orlando, Florida (MCO).
Chicago-O’Hare, Illinois (ORD).
San Francisco, California (SFO).
What to do if your flight is canceled
If an airline cancels your flights, look for rebooking options in the app or online right away. That’ll be faster than waiting for a customer service agent over the phone or at the airport. Keep in mind that airlines are being bombarded with calls and messages right now, so expect longer on hold times.
Here are the cancellation policies by airline:
🤓Nerdy Tip
If you’re not getting through to a customer service agent, you can try reaching out to your airline on X (formerly Twitter).
What to do if your flight is delayed
If you must fly out today, get comfortable at the airport. You might be waiting a while. This is when a credit card with lounge access might be handy. Though you probably won’t be escaping crowds there, it might give you a more comfortable place to sit while you wait it out.
In the interim, you can work on getting your flight delay compensation to pay for meals at the airport during the delay. Most airlines will give meal vouchers for delays of three hours or more.
Here are the flight delay compensation policies by airline:
Other ways to get compensation
When an airline cancels or significantly delays a flight, the Department of Transportation only requires airlines to refund passengers if the passenger chooses not to accept the rebooking. If you opt to not travel with your original airline or you simply decide not to travel altogether, you are entitled to a refund.
Top cards with travel insurance
Chase Sapphire Preferred® Card
on Chase’s website
Chase Sapphire Reserve®
on Chase’s website
The Platinum Card® from American Express
Ink Business Preferred® Credit Card
on Chase’s website
Annual fee
Travel protections (not a comprehensive list)
• Trip delay: Up to $500 per ticket for delays more than 12 hours.
• Trip cancellation: Up to $10,000 per person and $20,000 per trip. Maximum benefit of $40,000 per 12-month period.
• Trip interruption: Up to $10,000 per person and $20,000 per trip. Maximum benefit of $40,000 per 12-month period.
• Baggage delay: Up to $100 per day for five days.
• Lost luggage: Up to $3,000 per passenger.
• Trip delay: Up to $500 per ticket for delays more than 6 hours.
• Trip cancellation: Up to $10,000 per person and $20,000 per trip. Maximum benefit of $40,000 per 12-month period.
• Trip interruption: Up to $10,000 per person and $20,000 per trip. Maximum benefit of $40,000 per 12-month period.
• Baggage delay: Up to $100 per day for five days.
• Lost luggage: Up to $3,000 per passenger.
• Trip delay: Up to $500 per trip for delays more than 6 hours.
• Trip cancellation: Up to $10,000 per trip. Maximum benefit of $20,000 per 12-month period.
• Trip interruption: Up to $10,000 per trip. Maximum benefit of $20,000 per 12-month period.
• Lost luggage: Up to $3,000 per passenger.
Terms apply.
• Trip delay: Up to $500 per ticket for delays more than 12 hours.
• Trip cancellation: Up to $10,000 per trip. Maximum benefit of $20,000 per 12-month period.
• Trip interruption: Up to $10,000 per trip. Maximum benefit of $20,000 per 12-month period.
• Baggage delay: Up to $100 per day for five days.
• Lost luggage: Up to $3,000 per passenger.
Learn more
To view rates and fees of The Platinum Card® from American Express, see this page.
So, pretend you’re wanting to rent an apartment in Phoenix, considering renting a house in Denver, or looking to move into a brand-new condo in Portland – and it’s time to submit your rental application. However, your poor credit history doesn’t qualify you to sign the dotted line alone, or maybe your income doesn’t meet the required threshold.
Depending on your circumstances, you might need someone else to co-sign your lease to qualify for the apartment. This ApartmentGuide article will help you understand the situations where a co-signer might be necessary and explain how having one can help you secure the rental you want.
What is a co-signer for an apartment?
A co-signer is a third-party, usually a person closest to you or a friend, who co-signs the lease with you. This person typically has a stronger financial standing,, has a robust credit history, and a good credit score.
As a co-signer, this third party has a legal obligation to pay if you default on your monthly rent. They don’t have to live in the apartment, but their name will be on the lease.
This arrangement serves as insurance for your potential landlord, especially if your credit check reveals a low credit score or an eviction history. It’s important to note that a co-signer is different from a guarantor, who merely promises to cover the rent if you fail to pay.
What does it mean to co-sign an apartment?
Co-signing an apartment means that you, as the co-signer, agree to share legal responsibility for the lease along with the primary tenant. As a co-signer, you are vouching for the tenant’s ability to pay rent and adhere to the lease terms. This includes covering any missed rent payments and potentially any damages to the property. Although you won’t reside in the apartment, your credit and financial history will be assessed during the application process.
Co-signing is a significant commitment because it involves a serious financial obligation to support the tenant and provide assurance to the landlord. If the tenant fails to pay rent or damages the property, you will be responsible for covering these costs. This means that any default by the tenant can affect your credit score and financial standing. Therefore, it’s essential to fully understand the risks and responsibilities before agreeing to co-sign an apartment lease.
When do you need a co-signer for an apartment?
But when exactly do you need a co-signer to secure your lease? Let’s explore the scenarios where having a co-signer might be necessary.
You might need a co-signer to secure an apartment lease if:
Low credit score: A credit score that falls below the landlord’s minimum requirement.
Insufficient income: Monthly income that doesn’t meet the landlord’s criteria, often less than three times the rent.
Lack of rental history: Little to no previous rental experience, especially for first-time renters.
Past evictions: A history of evictions on your rental record.
Unstable employment: Short-term employment history or frequent job changes.
High debt levels: Significant existing debt that impacts your ability to pay rent.
Citizenship: New to the country with no established credit or rental history.
Self-employment: Income that is harder to verify, such as being self-employed or freelance work.
Who should you ask to co-sign your apartment
The first people to approach are loved ones or close friends, who would be willing to do it.
It’s vital that they trust you, but you also trust them. They will have the same legal right as you to the apartment. This includes the ability to access the space, transfer the lease, and potentially live there if they choose.
It’s important to have an open and honest conversation with potential co-signers about your financial situation and the responsibilities they will be taking on. This ensures that they are fully aware of the obligations and risks associated with co-signing your lease. These risks include being held liable for missed rent payments and potential damage to the property, which could impact their own credit score and financial stability..
You should also discuss every scenario you can think of with your potential co-signer to ensure this won’t destroy your relationship. Signing a legal agreement to take on someone else’s significant amount of debt isn’t a simple favor.
What is needed from a co-signer for an apartment?
Now that you found someone to offer support and help you pay your rent, what do they need to complete the process?
The property manager will require the co-signer to submit a rental application, a background check, proof of income, and a report from at least one of the credit bureaus for a credit check.
Proof of income will include at least two documents to verify that the co-signer’s income covers their own housing and the tenant’s. They will confirm the co-signer paid all previous bills, there are no past evictions or issues with their credit.
What’s the difference between a co-signer and a guarantor?
You may hear these terms interchangeably, but there are some fundamental differences. Think of co-signing as just another person who has access to the apartment and is held responsible for the rent. Every month, both the co-signer and the tenant are equally accountable for the money as they are both on the lease.
A guarantor, however, does not have access to the apartment and is really just a “guarantee” that the landlord will get their money. Guarantors are responsible for the rent money only after the tenant defaulted on the rental property payments. A guarantor is there to alleviate the financial burden when you fall short.
The guarantor can take you to court for not paying your rent, as well.
What to do if you can’t find a co-signer
So, you’ve gone through everyone you know and no one can or will co-sign for you. You’re not entirely out of luck yet.
You can still make a case for yourself with the property manager. For instance, try explaining why you have this issue in your credit score and what you’re doing to fix it. If you try this, it’s important to show proof, like recent payment streaks on your credit report.
If that doesn’t work, see if you can negotiate with your landlord. Offer to pay more rent upfront or a larger security deposit.
What about co-signer services?
Be careful before signing anything if you’re considering co-signing companies. The service can act as a co-signer, but adds on a hefty fee to your monthly rent.Some services charge a one-time percentage of your rent, around 10 percent. While others charge a monthly fee that can equal up to 110 percent of rent payment.
Co-signing FAQs
Is it bad to co-sign for an apartment?
The short answer is no – as long as rent payments are made in full every month. For tenants, having a co-signer can help you secure a lease that you might not qualify for on your own. For co-signers, it’s important to understand that while co-signing itself doesn’t negatively impact your credit report, any missed or late payments by the tenant will. As long as the rent is paid on time, there will be no adverse effects on either party’s credit score.
Is it easier to get an apartment with a co-signer?
Absolutely. If the rental property accepts co-signers, it will be much easier for you to move in. Not guaranteed, but definitely much easier. This is particularly applicable for first-time renters (think college students), people on a credit-building journey, people with low credit scores or an eviction that was outside their control.
Are there alternatives to having a co-signer?
Some alternatives include offering a larger security deposit, paying several months’ rent upfront, or providing references from previous landlords or employers.
How to get around needing a co-signer for an apartment?
You can offer a larger security deposit, pay several months’ rent upfront, provide strong references, or look for properties with more lenient rental requirements.
How does co-signing affect your credit?
As the co-signer, co-signing can impact your credit positively or negatively. If the primary tenant pays on time, it can improve your credit. However, if they default, it can negatively affect your credit score.
How to take a co-signer out of your lease?
To remove a co-signer from your lease, you typically need to prove financial stability on your own, such as demonstrating a good credit score, stable income, and positive rental history. You will also need to get the landlord’s approval and possibly sign a new lease agreement.
Do you need a co-signer if you’re legally an adult?
You might need a co-signer if you’re legally an adult, especially if you have no credit history, limited income, or no prior rental history. Landlords often require a co-signer to mitigate the risk associated with younger tenants.
The information contained in this article is for educational purposes only and does not, and is not intended to, constitute legal or financial advice. Readers are encouraged to seek professional legal or financial advice as they may deem it necessary.
Mortgage rates have leveled off in the past week, according to data on HousingWire‘s Mortgage Rates Center. The average 30-year rate for conforming loans sat at 7.08% on Tuesday, unchanged from one week ago, while the 15-year rate rose 1 basis point to 6.63% during the week.
There has been considerable downward movement in rates over the past few months after the 30-year rate peaked at 7.58% in early May. This has been sparked by a recent decline in the 10-year Treasury yield, a narrowing of the spread between the 30-year rate and the 10-year yield, and consistency from the Federal Reserve on the policy front.
HousingWire Lead Analyst Logan Mohtashami indicated that he does not expect much short-term movement in rates. He pointed to recent comments from Fed Governor Michelle Bowman, who does not anticipate any cuts this year to benchmark rates.
Bowman is not the only policymaker who shares this view. Last week, 11 of 19 Fed officials predicted one cut or fewer in 2024, a dramatic change from the 10 of 19 officials who anticipated three cuts in March.
Mohtashami noted that the new-home sales report to be released Wednesday, as well as the Personal Consumption Expenditures (PCE) inflation report that comes out Friday, could influence rates this week.
Last week, Mohtashami wrote that mortgage application data is signaling increased demand. Purchase loan applications, in particular, saw positive growth during consecutive weeks for the first time since mid-March. But applications remain down since the start of the year, Mohtashami noted.
“This suggests that we’re not experiencing real mortgage demand growth at high rates and the fluctuations we see in the data are merely rebounds from low levels,“ he wrote.
Mike Simonsen, president of Altos Research, wrote earlier this week that “higher for longer” mortgage rates have taken a toll on home sales. Altos reported that 67,000 new contracts for single-family home transactions were started during the past week, down 2.7% from the prior week and 3.3% than the same time last year.
“The takeaway from the pending sales data is that any growth in sales volume we might have seen early in the year is gone,“ Simonsen wrote. “This is a function of mortgage rates staying in the 7s. There’s just no incentive for buyers to jump now. Unless and until mortgage rates drop, we’re in this holding pattern.“
But Altos data also shows that a large share of homes (36.9%) include cuts to the original list price, a sign that inventory is rising and sellers are having a more difficult time locating a buyer. Simonsen noted that markets on Florida’s Gulf Coast, as well as pandemic-era boomtowns in the West such as Austin, Phoenix and Denver, have seen price cuts become more common of late.
“You have elements like property taxes and insurance costs that are way up, so you have a lot more sellers,“ Simonsen wrote.
The vibrant city of Phoenix, AZ, is home to picturesque neighborhoods and stunning landscapes. With an average rent of $1,299 for a one-bedroom apartment, Phoenix offers a variety of neighborhoods to explore. If you’re looking to rent an apartment in Phoenix, you’ll find a range of options. ApartmentGuide has compiled a list of the most expensive Phoenix neighborhoods to help renters find their ideal home.
13 Most Expensive Neighborhoods in Phoenix
From the luxurious Paradise Valley to the trendy streets of Arcadia Lite, there are plenty of popular neighborhoods in Phoenix. Whether you’re looking for an adobe home to rent in Phoenix or wondering where to live in the city, read on to find out what neighborhoods made the list.
1. Evans-Churchill 2. Downtown 3. Desert Ridge 4. Deer Valley 5. Paradise Valley 6. Desert View 7. Central Avenue Corridor 8. Ahwatukee Foothills 9. Arcadia Lite 10. South Phoenix 11. Central City 12. Pierson Place 13. North Gateway
Let’s jump in and see what these neighborhoods have to offer.
1. Evans-Churchill
Average 1-bedroom rent: $1,866 Apartments for rent in Evans-Churchill
Evans-Churchill is the most expensive neighborhood in Phoenix, as the average rent for a one-bedroom unit is $1,866. There are plenty of reasons why this neighborhood draws residents. Evans-Churchill is near attractions like the Phoenix Art Museum and the Arizona Science Center, making it a prime location to explore the city. The area is home to a variety of shopping venues, including The Churchill, a trendy marketplace featuring local vendors and pop-up shops. Dining options abound, with popular spots like Cibo, known for its artisanal pizzas, and The Vig Fillmore, offering a vibrant social scene and upscale pub fare. Renters will enjoy Hance Park, a nearby urban park that hosts cultural events, festivals, and offers green spaces for recreation.
2. Downtown
Average 1-bedroom rent: $1,856 Apartments for rent in Downtown
Downtown is home to many of Phoenix’ top attractions such as the Phoenix Convention Center and Chase Field. Downtown is well-known for its green spaces like Margaret T. Hance Park and the charming shops and cafes along Central Avenue. The average rent for one-bedroom apartments is $1,856, which is about $550 above the city’s average, making it a pricier neighborhood. However, Downtown’s charm and amenities are well worth it. The area offers a variety of shopping experiences, including the CityScape Phoenix complex, which features numerous retail stores and entertainment options. Dining in downtown Phoenix is diverse, with popular spots like The Arrogant Butcher serving American cuisine. Architecturally, downtown Phoenix combines sleek, modern high-rise apartments with charming historic buildings, providing a range of housing options to suit different tastes and lifestyles.
3. Desert Ridge
Average 1-bedroom rent: $1,805 Apartments for rent in Desert Ridge
With an average one-bedroom rent of $1,805, Desert Ridge is the third most expensive neighborhood in Phoenix. This neighborhood has plenty of historic homes in the Spanish Colonial and Ranch styles. Desert Ridge is also near Highway 101, making it a convenient location for commuters. The neighborhood is home to Desert Ridge Marketplace, a premier shopping destination with a variety of retail stores, restaurants, and entertainment options. Dining in Desert Ridge is diverse, with popular spots like The Keg Steakhouse and Yard House offering a range of culinary experiences. Renters will appreciate the numerous parks, including Cashman Park and Reach 11 Sports Complex, which provide ample opportunities for outdoor recreation and sports activities.
4. Deer Valley
Average 1-bedroom rent: $1,716 Apartments for rent in Deer Valley
Deer Valley is the next most expensive neighborhood in Phoenix. This neighborhood is known for its central location near the Deer Valley Petroglyph Preserve and Adobe Dam Regional Park. One of Phoenix’s oldest neighborhoods, it’s no wonder this is a popular location. The area offers convenient shopping options, with the Deer Valley Towne Center featuring popular retail stores and dining establishments. Residents can enjoy diverse dining experiences at local favorites like The Vig, known for its relaxed atmosphere and American fare, and Oregano’s Pizza Bistro, famous for its hearty Italian dishes. Outdoor enthusiasts will appreciate the numerous parks, such as Deer Valley Park, which offers sports facilities, playgrounds, and scenic walking trails.
5. Paradise Valley
Average 1-bedroom rent: $1,710 Apartments for rent in Paradise Valley
Paradise Valley in Phoenix is known for its upscale ambiance and luxurious living, making it an attractive option for renters seeking a high-end lifestyle. The neighborhood offers premium shopping experiences at nearby destinations like Scottsdale Fashion Square, featuring a variety of high-end retailers and designer boutiques. Dining in Paradise Valley is top-notch, with renowned restaurants such as El Chorro, known for its Southwestern cuisine and breathtaking views, and Elements, offering gourmet dishes in an elegant setting. Outdoor enthusiasts will appreciate the proximity to Camelback Mountain and Echo Canyon Park, which provide excellent hiking trails and stunning desert landscapes. Architecturally, Paradise Valley showcases sprawling estates, modern luxury apartments, and elegant townhomes, catering to those who appreciate both style and comfort.
6. Desert View
Average 1-bedroom rent: $1,659 Apartments for rent in Desert View
Next up is Desert View, the sixth most expensive neighborhood in Phoenix. This neighborhood is known for its stunning desert landscapes and upscale amenities, making it an appealing choice for renters. The neighborhood offers a variety of shopping options, including Desert Ridge Marketplace, which features numerous retail stores, restaurants, and entertainment venues. Dining in Desert View is diverse and high-quality, with popular spots like Mastro’s Steakhouse serving up delectable dishes. Outdoor enthusiasts will appreciate the proximity to parks such as Reach 11 Recreation Area, offering extensive trails and beautiful natural scenery.
7. Central Avenue Corridor
Average 1-bedroom rent: $1,611 Apartments for rent in Central Avenue Corridor
Located north of downtown, Central Avenue Corridor has a friendly atmosphere and community-feeling, with plenty of local cafes and restaurants along Central Avenue, such as The Newton and Pane Bianco. The area also offers a variety of shopping experiences, with the nearby Biltmore Fashion Park providing upscale retail stores and eateries. Dining options abound, including popular spots like Durant’s for classic steakhouse fare. Renters will appreciate the proximity to beautiful parks such as Steele Indian School Park, which features serene walking paths, a dog park, and recreational facilities. Architecturally, the neighborhood showcases a mix of sleek modern apartments and well-preserved mid-century buildings, offering a diverse range of living options.
8. Ahwatukee Foothills
Average 1-bedroom rent: $1,602 Apartments for rent in Ahwatukee Foothills
Ahwatukee Foothills takes the eighth spot on our list of most expensive neighborhoods in Phoenix. The average rent for a one-bedroom unit is roughly $300 more than the city’s average. The area is known for its scenic beauty and tranquil suburban atmosphere, making it an attractive option for renters. The neighborhood offers excellent shopping options, including the Ahwatukee Foothills Towne Center, which features a variety of retail stores and dining establishments. Dining in Ahwatukee Foothills is diverse, with popular spots like Hillside Spot Cafe for casual fare and Va Bene for Italian cuisine. Outdoor enthusiasts will appreciate the numerous parks and recreational areas, such as South Mountain Park, which provides extensive hiking and biking trails. Architecturally, the area features a mix of contemporary homes, stylish apartments, and spacious townhouses, catering to various rental preferences.
9. Arcadia Lite
Average 1-bedroom rent: $1,571 Apartments for rent in Arcadia Lite
A well-loved Phoenix neighborhood, Arcadia Lite is the next area on our list. It’s known for its trendy vibe and central location, making it an attractive option for renters. The neighborhood offers diverse shopping experiences, including boutique stores and the bustling Biltmore Fashion Park nearby. Dining in Arcadia Lite is a highlight, with popular spots like La Grande Orange Grocery and Pizzeria for unique, locally-sourced dishes. Renters can enjoy outdoor activities at nearby parks such as Camelback Mountain and the Arizona Canal Trail, perfect for hiking and biking. Architecturally, Arcadia Lite features a mix of mid-century modern homes and contemporary apartments, providing a variety of stylish living options.
10. South Phoenix
Average 1-bedroom rent: $1,570 Apartments for rent in South Phoenix
The tenth most expensive neighborhood is South Phoenix, known for its rich cultural heritage and scenic desert landscapes. Dining in South Phoenix includes popular spots such as The Tamale Store, known for its handmade tamales, and Los Dos Molinos, offering flavorful New Mexican cuisine. Parks like South Mountain Park and Preserve provide residents with extensive hiking trails, picnic areas, and breathtaking views of the city. Architecturally, South Phoenix showcases a mix of traditional Southwestern-style homes, modern apartments, and ranch-style houses, offering diverse living options for renters.
11. Central City
Average 1-bedroom rent: $1,511 Apartments for rent in Central City
Number 11 on our list is Central City. This neighborhood is adjacent to downtown Phoenix. The area boasts a variety of shopping options, including the bustling Arizona Center, which features retail stores, entertainment venues, and dining establishments. Food enthusiasts will enjoy the diverse dining scene, with popular spots like The Arrogant Butcher offering contemporary American cuisine and Cibo serving artisanal pizzas. For outdoor activities, renters can explore Margaret T. Hance Park, which offers green spaces, playgrounds, and hosts cultural events. Architecturally, Central City showcases a mix of modern high-rise apartments, historic homes, and stylish condos, providing a range of housing options to suit different preferences.
12. Pierson Place
Average 1-bedroom rent: $1,390 Apartments for rent in Pierson Place
Taking the 12th spot is Pierson Place. The average rent for a one-bedroom apartment here is about $100 over the city’s average. Pierson Place is known for its charming mid-century architecture and convenient location, making it an attractive option for renters. The neighborhood is just a short distance from the bustling Uptown Plaza, which offers a variety of shopping options and popular dining spots like Flower Child and Lou Malnati’s Pizzeria. Renters can enjoy the nearby Steele Indian School Park, which provides ample green space, walking paths, and recreational facilities. Pierson Place features a mix of well-preserved historic homes and modernized apartments, catering to diverse housing preferences. Additionally, its close proximity to the light rail makes commuting to downtown Phoenix and other parts of the city easy and convenient.
13. North Gateway
Average 1-bedroom rent: $1,382 Apartments for rent in North Gateway
North Gateway is a popular area to consider living in in Phoenix. With attractions like the Musical Instrument Museum and the Cave Buttes Recreation Area, and an average one-bedroom rent of $1,382, there are many reasons this area may be for you. North Gateway is known for its serene desert landscapes and convenient suburban living. The area offers a variety of shopping options, including the nearby Shops at Norterra, which features numerous retail stores, restaurants, and entertainment venues. Dining in North Gateway includes popular spots like Pita Jungle, known for its healthy Mediterranean fare, and Ah-So Sushi & Steak, offering a delightful mix of Japanese cuisine and teppanyaki. Outdoor enthusiasts will appreciate the abundance of parks, such as the expansive Reach 11 Sports Complex, which provides sports fields, trails, and picnic areas. Architecturally, North Gateway features modern single-family homes, stylish townhouses, and contemporary apartment complexes, catering to diverse rental preferences.
Methodology: Whether a neighborhood has an average 1-bedroom rent price over the city’s average. Average rental data from Rent.com in June 2024.
Inside: The decision on where you live is a big life choice. Learn how an HCOL vs LCOL area will impact you financially. Plus find the cost of living city that fits for you.
HCOL. LOCL. MCOL. What do these acronyms mean and why should I care?
Back when I was trying to decide where to live, there wasn’t a big discussion about the high cost of living or low cost of living areas.
You just picked a city close to family or branched out to a new area. Were you drawn to the big city or not? Plain and simple.
Today, there are many tools at our disposal to try and figure out what is the best city to live in based on income, expenses, and the lifestyle that you desire.
In this post, you will see how to analyze what type of city you want to live in and see if it makes financial sense for you.
Why such the price difference between HCOL and LCOL?
In a low cost of living city, you can buy a house for $50,000. In contrast, a median home price in a high cost of living city can cost $1.5 million. This is a correlation between supply and demand in the market.
The more people who want to live in a certain area that has less available space will naturally drive up prices. Whereas most low cost of living areas, the supply is abundant since there is plenty of space to spread out and find your own neck of the woods for much less.
Here’s a quick comparison of HCOL vs LCOL vs MCOL.
New York City has the highest cost of living at 100, followed by Los Angeles and San Francisco. This graph highlights the difference in cost of living in these example cities.
HCOL Seattle, WA
MCOL Las Vegas, NV
LCOL Knoxville, TN
Cost of Living Index
85.57
69.33
63.26
2 Bed Apartment Rent
$2,724
$1,176
$788
Median Home Price
$826,200
$441,771
$256,188
Median Income
$92,263
$56,354
$33,229
Data from Nerdwallet, Census.Gov, and Numbeo
What is HCOL area Mean?
Simply put, HCOL means a high cost of living.
This type of acronym is to describe certain areas or cities where expenses that impact your budget the most, such as housing, food, and transportation, are more expensive than other areas.
When defining an HCOL area, it is a comparison of the cost of living based on other areas around other cities, states, and countries.
There is no hard line to define high cost of living since it is compared to the other cities.
Is it possible to live in a high cost of living area? Absolutely, it all depends on how you choose to live, the income you make, your lifestyle choices, and your savings percentage.
VHCOL are VERY high cost of living areas, such as Manhattan, Honolulu, San Francisco, Singapore, or Hong Kong.
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Pros and Cons of HCOL
Just because an area is labeled HCOL does not mean that you shouldn’t call the city home and stay away from these areas.
There are plenty of advantages and disadvantages of living in a high cost city.
There are always drawbacks to living in a high cost of living area and you have to decide whether or not what works for you.
In order to make a solid decision on where the best place is for you to live, you need to know this information.
Advantages of HCOL City
Job Market is Solid
First of all, in HCOL cities, the job market is stronger, there are more jobs available, and typically those jobs have a higher paying threshold than other areas.
That is why many companies are attracted to these areas because they know the talent pool of potential employees is much stronger in high cost of living area versus other areas where there are not as many skilled workers.
Income is Higher
Since companies know they must pay their employees a fair wage living in a high cost of living area, incomes are higher to support the increased expenses.
This helps those municipalities collect more taxes, which feed back into the system to provide more for their residents.
More Opportunities
More opportunities abound in a high cost of living cities.
Not only in the job market but there is access to public amenities and conveniences. Some examples include museums, sporting events, transit, best medical services, endless entertainment options, quality restaurants, high-end shopping, and quick access to international airports.
Even better, you can find free entertainment each and every day that does not cost a penny. Here is a list of 101 things to do with no money.
There are many benefits of living in a high cost of living area just because their opportunities are endless. You will always find something to do and there is always stuff going on.
Better Schools
Typically, in your high cost of living cities, that is where you will find the better schools. This is in direct correlation to the job market and skilled workers.
These skilled workers tend to have a higher instance of college graduates and they tend to want the best for their children. As a result, the schools tend to be much better than you would find in other areas.
Higher Chance of Home Equity
Another advantage of big cities is the variety of neighborhoods you can find in a bigger city. You can find the type of house you want to live in and the diversity you crave.
While home costs are much higher, there is also a greater chance of income increasing your home equity much faster than other areas.
For example, in Michigan, you could pay $100,000 for the exact same house in 5-10 years since appreciation will not happen at the same rate as other cities. Whereas, if you look at some of the hot markets, like Denver, Phoenix, or Austin, the home prices have been skyrocketing.
Thus, if you live in those quickly appreciating housing areas, there is a higher chance to increase the value of your house.
Disadvantages Of HCOL Cities
Higher Basic Cost of Living – Specifically Housing
First, housing costs can break the bank. It is the biggest expense for any household.
If you were unable to secure a salary to justify the housing cost, it makes it nearly impossible to be able to afford to live in a high cost of living area.
This is where you would have to get creative and look for housing subsidies or other means to stretch your housing budget.
Harder to Find Houses
Another con of a high cost of living areas is it is much harder to find housing! House and rent prices are higher, jobs are tougher to find where there’s opportunities abound, and you may feel like you are searching for a needle in a haystack.
You need to have the right opportunity to find the proper house for you. If you are looking at buying, you need things to line up properly and in your favor.
Stretch Yourself Too Far Financially
Since incomes tend to be much higher, many people find the urge to spend more discretionary income.
In many cases, this means that the average household may stretch themselves a little bit further by keeping up with the Joneses. They tend to spend more frivolously and not live as frugal.
This is a trap to be aware of if you are in a high cost of living area. You can be savvy with your money and save, but you have to be cognizant of how you spend your hard-earned salary.
HCOL Cities…
These are the HCOL areas. Do you need to avoid them? No, but going into those areas, you must realize the cost of living will be higher.
Here’s a list of all of the cities that are the top 20 cities that are high cost of living areas according to Kiplinger:
1.
Manhattan, New York
(145.7% above U.S. average)
2.
San Francisco, California
(94.7% above U.S. average)
3.
Honolulu, Hawaii
(97.6% above U.S. average)
4.
Brooklyn, New York
(80.5% above U.S. average)
5.
Washington, D.C.
(60.7% above U.S. average)
6.
Seattle, Washington
(56.7% above U.S. average)
7.
Oakland, California
(53.9% above U.S. average)
8.
Arlington, Virginia
(50.5% above U.S. average)
9.
Orange County, California
(50.2% above U.S. average)
10.
Boston, Massachusetts
(48.8% above U.S. average)
11.
Queens, New York
(47.8% above U.S. average)
12.
Los Angeles, California
(46.6% above U.S. average)
13.
Bethesda, Maryland
(45.5% above U.S. average)
14.
San Diego, California
(41.4% above U.S. average)
15.
Alexandria, Virginia
(40.0% above U.S. average)
16.
Stamford, Connecticut
(36.4% above U.S. average)
17.
Portland, Oregon
(34.3% above U.S. average)
18.
Fairbanks, Alaska
(27.9% above U.S. average)
19.
Bergen County & Passaic County, NJ
(26.6% above U.S. average)
20.
Anchorage, Alaska
(24.4% above U.S. average)
Source: Kiplinger
What Is LCOL Area Mean?
LCOL stands for lower cost of living.
These cities have a lower average cost of living versus the average.
Simply put…your ability to stretch your income goes much further in a low cost area compared to a high cost of living area. This is where you can get a bigger bang for your buck.
Pros and Cons of LCOL
The differences in the area where you can live can be vastly different. Thus, providing benefits or drawbacks of choosing to live there.
The cons are typically the reasons that most people want to stay away from these cities.
This is where personal preference tends to play the biggest reason for choosing one location over another.
Just like with a high cost of living area, you need to weigh the pros and cons of living somewhere where expenses are not quite as high.
Advantages of LCOL –
Slower Pace of Life
One of the biggest benefits is a slower pace of living in low cost of living area.
Life doesn’t move as fast.
There is more time to breathe, there is more time to step back and take a bigger picture. It is not go, go, go, go 24/7. Time to enjoy the fresh air and slower pace.
Cheaper Housing
This is why people choose to live in a low cost of living area. Period.
You are able to afford much more house for much less.
That right there, over the long term can make or break somebody financially.
Lower Taxes
Many of the lower cost of living cities also benefit from lower taxes as well. They have lower income taxes, and even possibly, lower property taxes. So, this is something to take into consideration when looking at a low cost of living area.
Check what the difference would be from where you’re currently at to where you are considering moving.
Remote Work
This is the bread and butter spot! When you can take in a higher pay and still live in a LCOL city.
After 2020, remote work is becoming more and more popular. In addition, it is an added benefit companies are including to attract skilled employees.
This is one scenario where you can get the best of both worlds.
Disadvantages Of LCOL Cities
Less Opportunities
First of all, there are fewer opportunities. There are fewer things to do, there are less things going on. The airport is a further drive away.
In a big city, you can always find events happening. It may not be the same in other cities. However, some cities have created programs to draw in residents with the big city feel like Bellefontaine, Ohio.
Income Potential is Lower
The job market doesn’t have the high-paying jobs that you would find in the bigger cities. The income potential in one of these cities does not compare.
Let’s face it… a good majority of your working years are about built around making an income. With a lower cost of living city, the income limitations can be cumbersome and it takes longer to be able to reach your financial goals.
LCOL States and Countries with LCOL
Geographic arbitrage can give you great value for your money.
Arbitrage is the spread of differing prices for the same thing like rent, food, or transportation.
This means you can save more money by living in LCOL state or spend less of your nest egg by living in a LCOL countries.
These are the areas you can find the lower cost of living. There are many LCOL cities to be found as well.
LCOL States:
1.
Mississippi
(84.10% of U.S. average)
2.
Kansas
(86.67% of U.S. average)
3.
Oklahoma
(88.09% of U.S. average)
4.
Alabama
(88.80% of U.S. average)
5.
Arkansas
(89.16% of U.S.average)
6.
Georgia
(89.30% of U.S. average)
7.
Tennessee
(89.49% of U.S. average)
8.
Missouri
(89.75% of U.S. average)
9.
Michigan
(90.54% of U.S. average)
10.
Indiana
(90.57% of U.S. average)
Source: US News
LCOL Countries:
Listed in alphabetical order because there are many to chose from based on your personal preferences.
The definition of MCOL is any area that just has an medium cost of living.
There is not one extreme or another. These cities are just plain average. Maybe slightly above or below the median cost of living.
This can be a sweet spot of reaching your financial goals while enjoying a higher quality of life.
Benefits of MCOL Area
As you can read on Reddit personal finance threads, there are plenty of reasons to live in an MCOL area.
Mostly because these types of cities you can get the best bang for your buck, and still have the pros of living in a high cost of living area, as well as the pros of living in a low cost of living area.
This is where the job market may be very stable with good wages but the cost of living is not going to cost you a fortune.
Also, you can find tons of cities that meet the criteria of a MCOL city.
Cost of Living Varies within Cities
Regardless of whether you choose, HCOL, LCOL, or MCOL areas, the cost of living will be dramatically different between these cities.
Whether you are looking at the downtown area, the outlying suburbs, or maybe even the cities that have popped up around near the main city.
Just because the city is HCOL or LCOL, there will be neighborhoods that will be the outliers to the main part of the city.
So, when you are looking at cost of living, you must know the things that are most important to you and what type of neighborhood that you would want to live in because they can be found.
That is what I call hidden gems.
It is possible to find a cheaper house in a low cost of living or high cost of living area, you just have to do your homework and know what you’re looking for.
Vice versa, it is very possible to find a neighborhood in a low cost of living area that is much higher than the surrounding areas.
How can I buy a house in a high cost of living?
It is possible to be a homeowner in a in a high cost of living area. You just have to be able to afford the down payment on the house to make being a homeowner justifiable, if possible.
Before you decide to buy a house, here are some factors you need to take into consideration..
1. Does it make sense?
First, you have to make sure that it makes logical sense to buy a house. Especially in a high cost of living area because the house prices may not match up to what the income that you are bringing in.
Will you still be able to reach your money goals by purchasing a house? Or will you be house poor?
2. Compare rent to potential mortgage
Will it be cheaper to rent? Or cheaper to have a mortgage?
To figure this out, take what the average rent is in your neighborhood. Then, use a mortgage calculator to figure out the maximum amount you can afford.
Since those calculators will leave you house poor. Decide what you are able to justify in spending on a mortgage and figure out what the mortgage payment is.
Is the mortgage payment less than average rent in the area?
For example, it may cost in a high cost of living area, like San Diego, it may cost $3,000 a month to rent a house. Whereas you might be able to buy a similar home in the same neighborhood and have your mortgage payment of $2,259.
Thus, making buying makes more financial sense than continuing to rent.
3. Expand your horizons
Another tip to afford your dream house – do not be set on that one specific neighborhood in a high cost of living area.
Many times you can find an up-and-coming neighborhood that is much less than the trendier and hip current neighborhoods that you want to live in.
Thus, you can typically save a good chunk of money. Plus in the long run, you greatly increase the potential for home equity.
4. New Homebuyer Programs
If this is the first time you are buying a house, then look into first-time homebuyer programs and grants. (Hint… this is like free money!)
There are many out there because cities want their residents to buy in their neighborhood and their cities because that means they are going to be there for a longer-term.
Also, there are programs for the military, teachers, nurses, single moms, minorities, graduate students. You just have to look.
5. Save for Down Payment
When you are looking at buying a house, this is the time to become serious about saving for a down payment.
You may have to find ways to save more money each month.
This could include things like downsizing your lifestyle to make it possible. Living with friends or family while you save up more money. Or just spending less for a certain period of time until you reach your downpayment goal.
6. House Hacking
The last step is one of the best ways to reach financial independence in a high cost of living city. Plus the concept works well in any city… house hack.
Find a multi-family housing property that you were able to buy. For example, plan to live on one side of the duplex and rent out the other. This will help you pay for your mortgage, by using the rent collected from your renters.
Thus, lowing your overall housing cost, which is your biggest expense.
Where Does Your Income Go the Furthest?
This is a comparison that you may be surprised by the outcome. Thus, proving why you need to do cost comparisons to see what financially makes the most sense when deciding to move from one to the other area.
comparison of income, expenses, taxes, and potential savings!!!!!!!!!!!
Once again, this is personal to your situation. So, take a moment and use the cost of living calculator yourself.
Paying taxes is one option to increase what you take home in each paycheck.
No Income States
These are the states that don’t pay state income taxes on wages:
Alaska
Florida
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Washington
Wyoming
For most people, that is an instant decrease in overall taxes!
Higher Taxed States
Also, if you live in one of the higher taxed states, then you may want to reconsider moving to a lower cost of living area.
The higher taxes income tax states include:
California
Hawaii
New Jersey
Oregon
Minnesota
The District of Columbia
New York
Vermont
Iowa
Wisconsin
These states tax income somewhere between 7.65% – 13.3%.
Property Taxes
Property taxes vary from state to state.
In some states with large property taxes, it may even out with no income taxes. While other states, like Illinois, where property taxes are high and income taxes are above the national average as well.
Moving From HCOL to LCOL
The reason that most people move from HCOL to LCOL area is to save money. They want to decrease their expenses – that is the primary driver. Other times, it may be that they’re looking for a different type of lifestyle.
But as you can read on Reddit, everybody has a different personal experience.
It may have been beneficial and may have been bad timing. It may have been the best choice. It may have been the worst decision.
Make sure to factor in the costs associated with the move. Also, any ongoing expenses like travel if you are moving away from family.
How to Choose HCOL or LCOL?
Deciding where you live is one of the most personal decisions that you can make. Nobody can make it for you. You know what you want in life, how you want to live, and where you would feel more comfortable.
So, let’s look primarily at the financial side of making this decision of what is best.
1. Lifestyle You Desire
There are massive differences between HCOL and LCOL cities!! In big cities, life moves at a faster pace. While most cheaper cities areas move at a slower pace, so you have to make the decision of what type of lifestyle.
Do you want you want the big city? Do you want suburbia? Or do you prefer more of a country lifestyle?
When looking at this first factor, your answer should not include money. This is where your heart is. This is where your home. This is the life that you plan on living. This doesn’t include the financial sense.
This includes what makes your heart happy.
2. Your Money Goals
One of the things that discussed the most on this site is the 10 Money Bliss Steps to Financial Freedom. That is where most of our readers find their current money goal. And for good reason, you must build a strong foundation with money one step at a time.
In order to achieve long term financial success, the decision on housing is critical as it is the biggest expense in any budget. And that is can have the greatest impact on your budget!
On the flip side, the amount of income you are capable of making can also make the biggest impact on what you can afford to spend.
You must decide on your current money goal as well as the longer term money vision. Maybe you are looking at wanting to retire early? Love to live a slower life in the future?
It is possible to live in HCOL area where you are able to live extremely frugally and save more money. This is what my friend did over at Tuppennys FIREplace. For them, it was a smarter decision. On the flip side, maybe you are happier living a slower pace of life. Income is not the primary driver and you just want to enjoy life more.
At the end of the day, you must prioritize what you want, how your budget and your expenses correlate, and how your saving rate is impacted in various cities.
3. Season of Life
For those in their younger years may not understand this as much, but as you go through seasons of life, you will realize that you have different goals, objectives, and desires along the way.
When deciding where to live, your current season of life will probably have a very high impact on what you are looking for.
If you have young kids, you probably want to find a neighborhood where you have other families nearby that your kids can interact with.
If you are close to retirement, you may look decide to move out of the good school district because you do not need to pay the premium of living here. You may choose to move to a lower cost of living area, so you have the freedom to travel and help my kids and grandkids.
4. Potential Income & Career Opportunities
The greatest benefit of a high cost of living area is the income potential and the career opportunities. Both are much greater in the bigger cities than you would find in the smaller cities.
If your primary goal is increasing your income and advancing your career, then looking at high cost of living areas an absolute must. Plus you might be able to find something on the outskirts of expensive neighborhoods, that would make the most financial sense.
Then, living in HCOL is justified and necessary and the income can justify the higher costs associated.
On the flip side, there is plenty of income potential as a small business owner in a low cost of living area. You just have to know the market, what your skills are in, and what the needs are in your area.
4. Fixed Expenses
Fixed expenses can be dramatically different in each area.
Write out a list of your top fixed expenses and make sure to compare those as well.
For example, child care costs and tuition are going to be much more expensive in a big city than in the suburbs. Maybe in certain neighborhoods, a car would not be needed; thus, eliminating another big cost and associated maintenance.
While some fixed expenses seem meniscal, over time, they can add up significantly. Thus, helping or hurting your financial picture.
Unspoken Price Tag to Live Somewhere
As we covered in this post, there is a lot to consider when deciding between HCOL, LCOL, or MCOL areas.
It is a highly personal decision that you must take the time to make the best decision for you!
Not someone else, but for you.
One thing to watch out for when looking at where to live is what I call the “price tag” of a beautiful city.
Many times, employers know that the city that people want to live in their city for whatever reason. Thus, you will experience what I like to call the “income hit” to living there.
For example, Fort Collins, Boulder, and Austin are highly desirable areas for postgraduates to live in because they fall in love with the town and they want to stay here for the long term. Thus, employers know that this!
As a result, income for jobs maybe 10 to 15% less than they could make in any other type of market or city. So, that is something just to be aware of when wanting to stay in the city that they have grown to love.
In conclusion, when you’re looking at a high cost of living area versus a low cost of living area, there are two sides to the coin.
One – what makes financial sense. Two – your home is where your heart is.
Consequently, you have to make the decision on what makes sense for you.
While it makes financial sense to move to a lower cost city, at the same time, it may move you away from your family and your support system, and everything that you enjoy, and you may not be as happy in the long run.
Enjoy weighing the alternatives between all of the options available.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
(CNN) – Mortgage rates fell for the third straight week to their lowest level in almost three months.
Freddie Mac reported Thursday that the standard for a 30-year fixed-rate mortgage averaged 6.87% for the week ending June 20.
That’s down from last week’s 6.95% average and down from a 2024 peak of 7.22%. Still, mortgage rates remain higher than anything seen in the decade before 2022.
That’s the year the Federal Reserve began to raise interest rates to combat inflation.
Despite rates trending down, owning a home is becoming harder for many Arizonans. A study by Bankrate found you need to make at least $110,271 to comfortably afford a home in Arizona. That’s up 67% from 2020.
The median home price in the state is $451,500, according to Redfin. In the Phoenix Metro, it’s $461,990, up 5.5% from last year.
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A veteran of over 11 years at loanDepot, Abarca has held leadership positions of increasing responsibility throughout her tenure. She will be based in the company’s Phoenix-area operations hub. Before loanDepot, she worked with several big banks, including Bank of America, JPMorgan Chase, and Compass Bank. Abarca’s promotion was in line with loanDepot’s Vision 2025 … [Read more…]
Rate-and-term refinances rose 25.6% in May as mortgage rates trended down, according to a new report by Optimal Blue. The spike was a response to a modest drop in the 30-year conforming mortgage rate, which dropped to 6.8% on May 15 but ultimately ended the month at 7.02% on the Optimal Blue Mortgage Market Indices (OBMMI).
“The sharp increase in demand for rate-and-term refinances following a dip in rates indicates that homeowners with rates above 7% feel pinched and are sensitive to even modest interest rate movements in the current economic landscape,” Brennan O’Connell, director of data solutions at Optimal Blue, said in a prepared statement. “For context, since Optimal Blue began tracking the 30-year conforming rate as a market index in January 2017, interest rates only exceeded 7.02% on 120 market days. Based on other measures, buyers who locked loans on those days have the highest mortgage rates of the past two decades.”
Chart courtesy of Optimal Blue
Total volume rose by 5.3% in May month over month and 1.8% year over year. Such gains were driven by a 4.1% increase in month-over-month purchase lock volume, a 7.2% rise in cash-out refinances, and the big rise in rate-and-term refinances. There was, however, a year-over-year decline in purchase lock counts, a “key market health indicator that controls for home price appreciation and refinance volatility, were down 4% year-over-year.”
Despite the 25.6% monthly increase from April, rate-term refinances remained at a value of 6 on the market volume index (total volume indexed to 100 in January 2018). Cash-out refinances were 9 and purchase mortgages registered at 94.
Conforming loans were 57.2% of the pie, with FHA at 18.4%, VA at 10.8% and nonconforming loans at 13.0%, according to Optimal Blue data.
The purchase pull-through rate was 79.9% in May, down 184 bps from April. The refinance pull-through rate was 59.4% in May, down 115 basis points from April and 295 bps from February. In May 2023, the refi pull-through rate was about 65%.
Nationally, markets in the Northeast showed the largest increase in lock volume, according to Optimal Blue. The Boston-Cambridge-Newton, MA-NH metro had a 17.8% increase in rate locks and the New York-Newark-Jersey City metro wasn’t far behind at 16.4%.
The Washington, D.C., Dallas, Denver, Miami and Phoenix metros all showed declines in lock volume in May.
Chart courtesy of Optimal Blue
The average loan amount in May remained flat at $374,500 and the average home purchase price rose for the fifth consecutive month to $480,300 from $477,900.
If you’re reading this article because you have only one day in Phoenix to experience all this city has to offer, then you’ve come to the right place! Whether you’re exploring the town for vacation or trying to decide on renting an apartment in Phoenix or even buying a home in Phoenix, ApartmentGuide can help you plan the ideal day.
Below, you’ll find a wealth of restaurants, activities, and parks handpicked by Phoenix locals. Your task is to look through the list, selecting one item from each step to create your ideal itinerary. Feel free to choose more than one option if you wish! Think of this as a “Choose Your Own Adventure” for exploring a new city. The goal is for you to get a crash course in what it’s like to live in Phoenix.
Step one:
Try a new experience
During your stay in Phoenix, try out some of the new activities the city has to offer. Below is a selection of experiences, from coffee classes to skydiving to cowboy towns. Choose one or a few to explore during your stay.
Take a class at Infusion Coffee & Tea Crafters: “Not to plug ourselves, but our International Barista and Coffee Academy is a great valley find. We offer classes on coffee roasting, tea, and more.” – Leo of Infusion Coffee & Tea Crafters.
Attend the VNSA Book Sale: “If you’re a book lover or know one, you must plan to attend the annual VNSA Book Sale at the State Fairgrounds held every February. Each year, VNSA will sell five semi trucks full of books and media that they collected from donations all year long. With no paid staff, all proceeds benefit human service charities in Maricopa County. When you’re finished with those books, donate them to VNSA anytime using dropboxes located all over the Valley.” – VNSA Volunteer Staff.
Phoenix Skydive Center: “Visit the upscale Skydive Center in AZ. Our staff is experienced and certified by the United States Parachute Association. We offer a first-time skydiving experience to all adults: No experience or training required. We offer student and military discounts and holiday specials all year. Video and Photos available to share with friends and family.” – Phoenix Skydive Center.
Commemorative Air Base AZ: “You can see, touch, and hear the aircraft that made America safe. You can feel the history and the energy of our Airforce heroes from the past. It’s very affordable and free to vets and Gold Star Families. If you want to step it up you can even book a flight on one of these historic warbirds.” – Phoenix Skydive Center.
Rainbow Ryders Hot Air Balloon Ride: “Take a hot air balloon ride over Phoenix and Scottsdale with Rainbow Ryders. The best view of the Sonoran Desert and the Phoenix Skyline. The sunrise flight is like no other flight you’ve ever had. The cool Phoenix mornings with the sunrise over the desert is the best way to start a day.” – Phoenix Skydive Center.
Cave Creek: “This area is second to none being one of AZ’s most authentic cowboy towns to this day! Be sure to visit Harold’s Corral to experience their live music, fundraisers, sporting events, and more! If you’re feeling spunky, pop over to the Buffalo Chip for their bull riding nights. Enjoy endless views of the surrounding mountains and hike the various trails like those at Spur Cross.” – Haleigh Shelly of Paseo Homes AZ.
Visit one of Phoenix’s farmer’s markets: “You can find unique gifts, delicious food, and many handmade products. Go out and soak up the beautiful Arizona sunshine on Saturday markets and don’t forget to visit us while you are there!” – Absolutely Delightful Honey.
Plant Stand of Arizona: “This is a great place to check out. It’s not often you see so much greenery in Arizona. They have a plethora of plants: small and large, everything in between. If you’re new to Arizona and you’re looking for a place to get some plants to warm up and liven your space, Plant Stand of Arizona is the place to go.” – Leo of Infusion Coffee & Tea Crafters.
Step two:
Enjoy the local food
If you’re kicking around the idea of renting a home in Phoenix, you have to get acquainted with the local food. Though Tucson may get all the attention for being a UNESCO City of Gastronomy, Phoenix is not to be overlooked for all the great food selections.
Word Of Mouth Grill: “Located in the heart of South Tempe, this black-owned BBQ spot offers a casual modern dining experience, serving amazing food with a sociable and inviting atmosphere. It’s a family-owned and operated spot with the owner being the pitmaster and his wife overseeing the guest experience. YELP just added Word Of Mouth Grill to their “TOP 100 BBQ SPOTS” and ranked them #72 in the nation!” – Demetrious & Jacque of Word Of Mouth Grill.
Chico Malo: “Located in downtown Phoenix, this elevated Mexican cuisine & cocktail bar is inspired by the rich heritage of celebratory dining throughout the different regions of Mexico, showcasing unique cooking techniques and local ingredients in a lively, upscale environment. This chef-driven concept is a great place to experience especially when attending the Footprint Center, Chase Field or the Phoenix Convention Center!” – Demetrious & Jacque of Word Of Mouth Grill
ZuZu Restaurant: “One recommendation I would make for someone that wants a delicious meal with a great ‘60s vibe, is ZuZu Restaurant inside of the Hotel Valley Ho. ZuZu provides upscale comfort food & cocktails with a very Instagrammable 60’s atmosphere. If you are not interested in eating, Hotel Valley Ho allows you to purchase a day pass to their pool if you are not a guest of the hotel so you can spend your day lounging by their pool.” – Andrew Brigida of Digital Perception Photography.
Giuseppe’s on 28th: “If you are looking for classic Italian cuisine, Giuseppe’s is the perfect place. One of the must-try dishes is the Suppli di Riso (also known as arancini). These are delicious risotto rice balls that you are sure to talk about afterwards. And you cannot forget about the gnocchi in a cream and tomato sauce.” – Therese Lau of Gator Girl – Out of the Swamp.
The Kettle Black: “Look for the restaurant with the big red door! It’s like being in an English pub. If you like bourbon and whiskey they have plenty of choices. Looking for something delicious? Try the Philly cheesesteak fries. The fries are covered in shaved ribeye steak, sauteed peppers and onions, and a creamy cheese sauce. The ribeye is so tender and juicy you might think you’re in Philly!” – Therese Lau of Gator Girl – Out of the Swamp.
Ajo Al’s Mexican Cafe: “If you are in the mood for Mexican food, a classic restaurant is Ajo Al’s Mexican Café. In the valley since 1986, Ajo Al’s can handle large parties and can provide family-style dishes on request for large celebrations, or if you just like to eat a lot of good Mexican food. Don’t want to leave the house for your birthday? They can also provide catering services directly to your door.” – Andrew Brigida of Digital Perception Photography.
Step three:
Get fueled up
Phoenix is also home to several eclectic coffee shops featuring innovative decorations and displays. Kaylie of the travel blog Run Away With Kay is the perfect person to scour the city for the best coffee shops and come back with her recommendations. Here are three of her favorites:
Sip Coffee: “Located in the Arcadia neighborhood, Sip Coffee & Beer Garage is the perfect spot to spend a summer day. The baristas know their stuff, and the vibe is super calm and chill. I highly recommend ordering their cold brew on tap with a splash of almond milk (it’s addicting!). I’ve spent an entire day sitting quietly working on my laptop, as it is a great place for creatives to connect and get work done. But beware, when the clock strikes 4 p.m., this coffee shop can get a bit rowdy as their downstairs turns into a tiki-style cocktail bar. A coffee shop that serves coffee and alcohol – I know, sounds too good to be true! Whether you are looking to order a basic latte, craft beer, or liquor-infused espresso martini, Sip will have the drink for you.”
Luci’s At the Orchard: “If you are looking for a unique coffee experience, look no further than Luci’s At the Orchard. This place could not be any cuter! From the moment you walk on their grounds, you’ll be surrounded by outdoor seating, a splash pad, and an ice cream parlor. Inside, there are so many fun trinkets, games, and random Arizona-based gifts you can purchase. Not only do they have great tasting coffee options, but they also serve smoothies, brunch food, and bloody Marys that will keep you coming back time and time again.”
The Henry: “As if I don’t talk about The Henry enough, it has to make my top list for coffee. Many locals know The Henry for their delicious food but inside is their own coffee bar that will satisfy any caffeine craving you may have. This is one of my favorite places to “work from home” as it keeps me fueled all day long. Their menu is extensive, offering espresso, smoothies, and chai. Everyone seems to be addicted to the Wildflower, but I have yet to try it. I truly think you can’t go wrong with any of their options. Be sure to order the Caramel Apple French Toast if you start to get hungry!”
Step four:
Explore a park or lake
Part of Phoenix’s allure is the multitude of outdoor recreational activities. With so many beautiful parks to explore, the hiking culture here is incredible. If you enjoy the outdoors, choose one of the activities below to explore.
Papago Park: “This is an excellent spot for many things. It is a photographer’s dream with the beautiful sunrises or sunsets depending on when you are going. There are also picnic tables if you want to have a small gathering with family and friends. There is not a bad spot in Papago Park for a photo opportunity. – Andrew Brigida of Digital Perception Photography.
Phoenix Zoo: “Located in Phoenix just East of the Sky Harbor Airport, this non-profit zoo cares for over 3,000 animals with nearly 400 species represented, including many endangered species. The zoo offers daily activities and private events. They offer zoo tours such as the ‘Backstage Adventure’ where you can get a glimpse of the animal habitats, the ‘Tropics Trail’ a lush rainforest landscape with animals or the ‘Native Plants and Animal’ tour, to name a few. The Phoenix Zoo is great for all ages and interests!” – Demetrious & Jacque of Word Of Mouth Grill
Tonto National Forest: “So many options to stay busy in the Tonto National Forest! Spending the day out on Bartlett Lake with a boat or ski rental is a great way to stay cool during AZ’s hottest months. You can even enjoy various options of guided tours to experience the desert firsthand! If you’re feeling extra adventurous, take a trip to Apache Junction for the Goldfield Ghost Town experience!” – Haleigh Shelly of Paseo Homes AZ.
The Superstition Mountains: “The Superstition Mountains are the best mountains to explore around the Phoenix area! They hold some of the best views, diverse landscapes, and even historical tales of lost gold. The most notable hikes for beginner to moderate levels are Hieroglyphic Trail, Wave Cave, and Hackberry Springs Loop.” – Kara Grimes of Karabou Adventures, LLC.
Lake Pleasant: “There are so many things to do at Lake Pleasant, especially during the summer. The opportunities are endless: kayaking, scenic cruises with Lake Pleasant Cruises, boat rentals, and sliding down the H2-WHOA floating slide. Oftentimes my friends and I will park along the shoreline in Scorpion Bay to hangout, float in the water, and grill food!” – Kara Grimes of Karabou Adventures, LLC.
Desert Botanical Garden: “For plant and bird lovers I highly suggest the Desert Botanical Garden! Their collection of desert plants is impressive. A lot of them bloom in the spring time and bring in all types of birds and butterflies. The gardens even hold special seasonal events, so take a peek at their calendar!” – Kara Grimes of Karabou Adventures, LLC.
Explore the Valley area: “Phoenix has some of the finest dining options in the valley like the infamous Wright Bar at Arizona Biltmore (named after Frank Lloyd Wright)! You can also experience many great works of art and architecture like viewing Taliesin West, Frank Lloyd Wright’s winter home. And there is nothing like witnessing firsthand a beautiful Arizona sunset atop one of the most desirable hikes at Camelback Mountain for those who can handle the challenge!” – Haleigh Shelly of Paseo Homes AZ.
Step five:
Grab a drink and reflect
Now that you’ve explored Phoenix in a whirlwind of a day, it’s time to get a drink at one of the local breweries and reflect on the day you’ve had today. What did you like? What did you not like? Could you see yourself renting a house in Phoenix or buying a home?
The Phoenix Beer Co.: “The Phoenix Beer Co. is another great place to explore. The brewery has great beer and a variety of things to do. There’s shuffleboard, giant Jenga, cornhole, and more! – Leo of Infusion Coffee & Tea Crafters.
Huss Brewing: “Looking for a great place for craft beers? Huss Brewing is the perfect spot conveniently located next to the Phoenix Convention Center. They have great shareable appetizers to enjoy while sampling the local brews.” – Therese Lau of Gator Girl – Out of the Swamp.
Tombstone Brewing Company (North): “Located in a small strip mall in the north of Phoenix, this brewery was a lot of fun. I sat at the bar where a super-friendly bartender was happy to talk with me about the beer selection.” – The Beer Thrillers.
Wren Brewing House: “There are a lot of little nooks where you can find an intimate spot and a large space near the bar if you want to be part of the taproom vibe. A small courtyard is near the side of the bar for sitting outside.” – The Beer Thrillers.
OHSO Brewery and Distillery: “Fun, warm and welcoming vibes. Most of the bar is located outside and has a wonderful lay of the area.” – The Beer Thrillers.
“As a result, a broker will no longer need to work with a title company or settlement agent for title work, balancing fees, scheduling the closing, or any related communication when they use TRAC+,” the company said in a prepared statement.
The first version of TRAC, launched in October 2022, is still available at a $1,600 flat fee plus a settlement agent fee of up to $500. In the first iteration of TRAC, brokers choose a settlement agent to handle the closing, balancing fees, scheduling the closing, and other communication. Meanwhile, UWM, the largest lender in America, handles title review. It’s available to conventional loans only in purchase and refinance transactions.
With the new option, TRAC+, UWM charges a $1,850 flat fee, with no settlement agent fee, since the lender will handle all the title work. The product is available on conventional, Federal Housing Administration (FHA), and U.S. Department of Veteran Affairs (V.A.) loans but only for refinances.
UWM’s TRAC+ announcement comes as the federal government pushes title insurance alternatives designed to save consumers money. Fannie Mae and Freddie Mac now accept out attorney opinion letters and their regulator, the Federal Housing Finance Agency, recently rolled out a new pilot program to waive lender title requirements on refinancings.
0% down
During UWM Live!, the wholesale lender also announced a new program where qualified borrowers receive 3% in down payment assistance loan up to $15,000. The loan will not accrue interest and will not require a monthly payment.
“UWM’s 0% Down Purchase program is going to change the game this purchase season,” said Mat Ishbia, president and CEO at UWM. “No other wholesale lender in the country is offering this, meaning independent mortgage brokers now have a significant advantage with consumers and real estate agents. Thousands of borrowers are sitting on the sidelines because they don’t have a downpayment – this program removes that barrier.”
Borrowers must be at or below 80% of the Area Median Income for the address of the property they are buying or one borrower is a first-time homebuyer. The qualifying borrower will then receive a 3% down payment assistance loan, up to $15,000, in the form of a second lien loan.
Borrowers must pay the second lien loan by the end of the loan term but have flexibility in when and how often they make payments.
AI CHAT
During UWM Live!, the company also announced ChatUWM, an AI-powered search engine that provides instant responses to clients, including guidelines, matrices, lender tools, and technology. ChatUWM is based on the company’s knowledge base, “The Search.”
UWM also announced during the event that its brand, Mortgage Matchup, is the official mortgage partner of the National Basketball Association (NBA) and the Women’s National Basketball Association (WNBA).
Mortgage Matchup offers a searchable database of brokers and educational materials about the homebuying and refinancing process. It will receive media exposure across the leagues’ platforms.
Sarah DeCiantis, chief marketing officer at UWM, said in a prepared statement, “We aim to tap into the immense and diverse fan base of these two leagues to create authentic connections,” with the end goal of “empowering borrowers and drawing attention to the value and importance of having a mortgage broker.”
Ishbia previously acquired the Phoenix Suns and Phoenix Mercury. The deal became public in December 2022, but the executive received the NBA blessing in February 2023. The transaction valued the Suns and Mercury at about $4 billion.