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Mesa, with its rich history and unique southwestern charm, is a city that invites exploration. It’s not just about the scenic beauty, but also the convenience of getting around, especially for renters who prefer to navigate on foot. Rentals are fairly expensive, though, with the average one-bedroom apartment costing $1,300.
In this ApartmentGuide article, we’re taking you on a virtual tour of the most walkable neighborhoods in Mesa. So, get ready to discover the pedestrian-friendly charm of this Arizona city.
All data sourced March 2024.
Walk Score: 75
Downtown is the most walkable neighborhood in Mesa, with a Walk Score of 75. Known for its bustling city life, residents and visitors alike can explore the area and take advantage of its walkable layout. Notable attractions include the Mesa Arts Center and Pioneer Park.
Search for Downtown apartments for rent.
Walk Score: 65
C.A.N.D.O. has a Walk Score of 65, making it the second most walkable neighborhood in Mesa. There’s a lot to love about the area, from its historic charm to its community events. While you’re walking around the neighborhood, check out the Mesa Grande Cultural Park.
See C.A.N.D.O. apartments for rent.
Walk Score: 65
Adjacent to C.A.N.D.O., the Escobedo Historic District is the third most walkable neighborhood in the city. There are numerous walkable areas and attractions throughout the Escobedo Historic District, like the Mesa Historical Museum and the Arizona Museum of Natural History. And if you’re in the mood for an adventure, you’re not far from the Usery Mountain Regional Park.
Find Escobedo Historic District apartments for rent.
Walk Score: 64
Concord Village has plenty of amenities a resident might need within walking distance. From the Fiesta Mall to Mesa Community College, you’re sure to find something to love. A notable amenity is the Val Vista Lakes Tennis Club, which is a great spot for locals and visitors alike.
Browse Concord Village apartments for rent.
Walk Score: 61
As the fifth most walkable neighborhood in the city, Reed Park is known for its recreational facilities. Consider exploring the namesake [ark or getting a bite to eat at Casa rivas Mexican Food & Mariscos with friends. There are plenty of other amenities in this community as well, like the Mesa Public Library and the Mesa Amphitheatre.
Discover Reed Park apartments for rent.
Walk Score: 61
Dana Ranch has a Walk Score of 61, making it the sixth most walkable neighborhood in Mesa. Known for its suburban feel, residents and visitors can choose from walkable amenities such as Village Square at Dana Park and the Riparian Preserve at Water Ranch. While you’re out, check out the Superstition Springs Center.
Look for Dana Ranch apartments for rent.
Walk Score: 60
Northpointe is the seventh most walkable neighborhood in Mesa. This residential community has quite a few hotspots for residents to visit on foot, including the Alta Mesa Golf Club and Valencia Park. While you’re walking, take a moment to smell the flowers along the Velda Rose Desert Nature Trail.
Search for Northpointe apartments for rent.
Walk Score: 60
Sherwood has a Walk Score of 60, making it the eighth most walkable neighborhood in the city. There’s a lot to love about the area, from grabbing a bite to eat at Backyard Taco, to taking a walk along the 8.7-mile Sun Circle Trail. If you’re up for a longer outing, nearby Red Mountain District Park is popular among locals.
Find Sherwood apartments for rent.
Walk Score: 59
The ninth most walkable neighborhood in Mesa is Roosevelt. Pedestrians can enjoy the variety of restaurants, cafes, and shops, like LA Crab Shack and Oregano’s. It’s also easy to walk over to Sloan Park for a great day out.
Peruse Roosevelt apartments for rent.
Walk Score: 59
Nuestro is the tenth most walkable neighborhood in the city. Local attractions here include Kleinman Park, the Mesa Arts Center, the Broadway Recreation Center, and the Mesa Aquatic Complex, providing residents spots to get together and enjoy their community.
Discover Nuestro apartments for rent.
Check out more walkable cities in Arizona.
Methodology: Walk Score, a Redfin company, helps people find walkable, bikeable, and transit-friendly places to live, rating areas on a scale from 0-100. To calculate a Walk Score for a given point, Walk Score analyzes thousands of walking routes to nearby amenities, population density, and metrics such as block length and intersection density. Points are awarded based on the distance to amenities in each category.
Madison, a city known for its unique blend of urban charm and natural beauty, is a haven for renters who prefer to navigate their neighborhoods on foot. From the lively streets of Downtown to the serene paths of Bay Creek, Madison offers a variety of pedestrian-friendly areas. Rentals are fairly expensive, though, with the average one-bedroom apartment costing $1,580.
In this ApartmentGuide article, we will take you on a virtual tour of the most walkable neighborhoods in Madison. So, get ready to discover the charm of the Wisconsin capital’s walkable neighborhoods, where every step brings a new experience.
All data sourced March 2024.
Walk Score: 92
Downtown is the most walkable neighborhood in Madison, with a Walk Score of 92. Known for its bustling city life, residents and visitors alike can explore the area and take advantage of its walkable layout. Notable attractions include the Wisconsin State Capitol and the Madison Museum of Contemporary Art.
Search for Downtown apartments for rent.
Walk Score: 91
State-Langdon has a Walk Score of 91, making it the second most walkable neighborhood in Madison. There’s a lot to love about the area, from its historic architecture to its proximity to the University of Wisconsin-Madison. While you’re walking around the neighborhood, check out the Memorial Union Terrace.
See State-Langdon apartments for rent.
Walk Score: 85
Marquette is the third most walkable neighborhood in the city. There are numerous walkable areas and attractions throughout Marquette, like the Yahara River Parkway and the Williamson Street shopping district. And if you’re in the mood for an adventure, you’re not far from Olbrich Botanical Gardens.
Find Marquette apartments for rent.
Walk Score: 83
Vilas has plenty of amenities a resident might need within walking distance. From the Henry Vilas Zoo to the University of Wisconsin Arboretum, you’re sure to find something to love. A notable amenity is Vilas Park, which is a great spot for locals and visitors alike.
Browse Vilas apartments for rent.
Walk Score: 83
As the fifth most walkable neighborhood in the city, Greenbush is known for its rich history. Consider exploring Brittingham Park or getting a bite to eat at the Greenbush Bakery with friends. There are plenty of other amenities in this charming community as well, like Edward Klief Park and the Italian Workmen’s Club.
Discover Greenbush apartments for rent.
Walk Score: 81
Tenney-Lapham has a Walk Score of 81, making it the sixth most walkable neighborhood in Madison. Known for its beautiful parks, residents and visitors can choose from walkable amenities such as Tenney Park and James Madison park. While you’re out, check out Picnic Point.
Look for Tenney-Lapham apartments for rent.
Walk Score: 78
Regent is the seventh most walkable neighborhood in Madison. This historic community has quite a few hotspots for residents to visit on foot, including the Camp Randall Stadium and the Monroe Street shopping district. While you’re walking, take a moment to smell the flowers at the Allen Centennial Garden.
Search for Regent apartments for rent.
Walk Score: 77
Emerson East has a Walk Score of 77, making it the eighth most walkable neighborhood in the city. There’s a lot to love about the area, from grabbing a bite to eat at nearby Ogden’s North Street Diner, to taking a walk at Demetral Field. If you’re up for a longer outing, nearby Warner Park is popular among locals.
Find Emerson East apartments for rent.
Walk Score: 74
The ninth most walkable neighborhood in Madison is Eken Park. Pedestrians can enjoy the variety of restaurants, cafes, and shops, like the Tip Top Tavern, MOKA, and the North Street Cabaret. It’s also easy to walk over to the Irwin A. & Robert D. Goodman Sports Complex for a great day out.
Peruse Eken Park apartments for rent.
Walk Score: 71
Bay Creek is the tenth most walkable neighborhood in the city. Local attractions here include Goodman Park and the Wingra Creek Bike Path, providing residents a spot to get together and enjoy their community.
Discover Bay Creek apartments for rent.
Check out more walkable cities in Wisconsin.
Methodology: Walk Score, a Redfin company, helps people find walkable, bikeable, and transit-friendly places to live, rating areas on a scale from 0-100. To calculate a Walk Score for a given point, Walk Score analyzes thousands of walking routes to nearby amenities, population density, and metrics such as block length and intersection density. Points are awarded based on the distance to amenities in each category.
Older Americans who own their home are financially incentivized to stay put, which is likely to worsen the ongoing inventory shortage, two Redfin studies found.
In one recent survey, Redfin found that over three-quarters (78%) of older American homeowners (ages 60 and up) are planning to stay in their current home as they age. Meanwhile, about one in five baby boomers (19%) are considering moving into a community with older people or have already done so. Smaller shares of baby boomers are considering moving in with an adult child, moving to an assisted-living facility or moving in with friends.
The inertia of baby boomers is making it harder for young Americans to find a family home, according to a Redfin analysis. In fact, empty-nest baby boomers own 28% of three-bedroom homes in the U.S., while millennials with kids own just 14%. Furthermore, nearly 80% of boomers own the home they live in, compared to 55% of millennials.
Additionally, 54% of boomers carry no mortgage, and for those who do have a mortgage, nearly all of them have a much lower interest rate than they would if they sold and bought a new home today.
According to the April 2024 Mortgage Monitor report from Intercontinental Exchange (ICE), homeowners who took out mortgages with near-record-low rates in 2020 and 2021 face much higher monthly payments even if they move to an equivalently priced home. A “lateral move” of this type would cost 60% more per month, ICE reported.
There are now 517,000 single family homes on the market, up by 26% from a year ago, according to data from Altos Research. Inventory has been expanding steadily for 20 weeks in a row but still remains at historically low levels. Mike Simonsen, founder and president of Altos Research, forecasts that there will be 700,000 homes on the market by August or September of this year, the most homes available since 2019.
“Older Americans are aging in place because it makes financial sense, but also because it’s human nature to avoid thinking about challenging scenarios such as needing help as you get older,” Redfin chief economist Daryl Fairweather, said in a statement. “In reality, many homeowners and renters will need to move somewhere that better meets their needs as they age, like a senior-living community or a one-story home in an accessible neighborhood.
“But the government isn’t prioritizing building housing for seniors, which is further encouraging older Americans to stay put, exacerbating the inventory shortage. Politicians should focus on expanding housing stock that meets the needs of older Americans, which could help with housing affordability and availability for all.”
In certain states like California or Texas, tax systems make it advantageous for people to stay in their homes as they age. Medical and technological advancements have also made it increasingly easy for people to stay in their home as they get older.
More than half (51%) of baby boomers who don’t plan to move say that they like their home and see no reason to move, according to Redfin’s survey. The real estate brokerage conducted this survey in February 2024, collecting 838 responses from baby boomers (ages 60 to 78) and 62 responses from members of the Silent Generation (ages 79 and older).
Source: housingwire.com
Imagine living in a neighborhood where everything you need is just a short walk away. For renters in Phoenix, this isn’t just a dream, it’s a reality in several areas of the city. Rentals are fairly expensive, though, with the average one-bedroom apartment costing $1,240.
In this ApartmentGuide article, we’re taking you on a virtual tour of the most walkable neighborhoods in Phoenix. From the lively streets of Downtown to the charming avenues of Garfield, these neighborhoods offer a unique blend of convenience and charm. So, get ready to discover the pedestrian-friendly side of Arizona’s largest city.
All data sourced March 2024.
Walk Score: 82
Downtown is the most walkable neighborhood in Phoenix, with a Walk Score of 82. Known for its bustling city life, residents and visitors alike can explore the area and take advantage of its walkable layout. Notable attractions include the Phoenix Art Museum, the Japanese Friendship Garden of Phoenix, Chase Field, and the Arizona Science Center.
Search for Downtown apartments for rent.
Walk Score: 79
Garfield has a Walk Score of 79, making it the second most walkable neighborhood in Phoenix. There’s a lot to love about the area, from its historic homes to its colorful murals. While you’re walking around the neighborhood, check out Welcome Diner for a bite to eat.
See Garfield apartments for rent.
Walk Score: 76
Eastlake Park is the third most walkable neighborhood in the city. There are numerous walkable areas and attractions throughout Eastlake Park, like the neighborhood’s namesake park and the Phoenix Trolley Museum. And if you’re in the mood for an adventure, you’re not far from the giant Phoenix Mountains Preserve.
Find Eastlake Park apartments for rent.
Walk Score: 73
Coronado has plenty of amenities a resident might need within walking distance. From the Cartel Roasting Co to Coronado Park, you’re sure to find something to love. A notable amenity is the Oak Street Murals, which is a great spot for locals and visitors alike.
Browse Coronado apartments for rent.
Walk Score: 71
As the fifth most walkable neighborhood in the city, Valencia Acres is known for its quiet streets. Consider exploring the nearby South Mountain Park or getting a bite to eat at Los Dos Molinos with friends. There are plenty of other amenities in this charming community as well, like Phoenix Park and Los Olivos Public Park Place Plaza.
Discover Valencia Acres apartments for rent.
Walk Score: 71
Governmental Mall has a Walk Score of 71, making it the sixth most walkable neighborhood in Phoenix. Known for its proximity to the Arizona State Capitol, residents and visitors can choose from walkable amenities such as the Arizona Capitol Museum and the Wesley Bolin Memorial Plaza. While you’re out, check out the Arizona Latino Arts and Cultural Center.
Look for Governmental Mall apartments for rent.
Walk Score: 69
Westland Homesites is the seventh most walkable neighborhood in Phoenix. This peaceful community has quite a few hotspots for residents to visit on foot, including Westdale Center and Tortas Paquime. While you’re walking, take a moment to enjoy the sunny Arizona weather.
Search for Westland Homesites apartments for rent.
Walk Score: 69
North Central Heights has a Walk Score of 69, making it the eighth most walkable neighborhood in the city. There’s a lot to love about the area, from grabbing a bite to eat at nearby Ocotillo Restaurant, to taking a walk along the Arizona Canal Trail. If you’re up for a longer outing, nearby Camelback Mountain is popular among locals.
Find North Central Heights apartments for rent.
Walk Score: 69
The ninth most walkable neighborhood in Phoenix is Booker T. Washington. Pedestrians can enjoy the variety of local businesses, like Blok Photo Studio and Superstition Downtown. It’s also easy to walk over to Margaret T. Hance Park for a great day out.
Peruse Booker T. Washington apartments for rent.
Walk Score: 68
Willo is the tenth most walkable neighborhood in the city. Local attractions here include the Heard Museum, Encanto Park, the Enchanted Island Amusement Park, and the Phoenix Theatre, providing residents places to get together and enjoy their community.
Discover Willo apartments for rent.
Check out more walkable cities in Arizona.
Methodology: Walk Score, a Redfin company, helps people find walkable, bikeable, and transit-friendly places to live, rating areas on a scale from 0-100. To calculate a Walk Score for a given point, Walk Score analyzes thousands of walking routes to nearby amenities, population density, and metrics such as block length and intersection density. Points are awarded based on the distance to amenities in each category.
By Aarthi Swaminathan
The U.S. 15-year mortgage rate is at the lowest level in two months, industry group says
The numbers: The U.S. housing market is feeling a chill once again as home buyers pull back on applying for mortgages with rates staying near 7%.
Yet some buyers are finding rates in the low 6% range by turning to 15-year fixed-rate mortgages instead of the traditional 30-year loan.
Nevertheless, weakening demand overall pushed the market composite index – a measure of mortgage application volume – down in the last week, according to the Mortgage Bankers Association (MBA) on Wednesday.
The market index fell 0.6% to 195.6 for the week ending March 29 from a week ago. A year ago, the index stood at 217.9.
Key details: The purchase index – which measures mortgage applications for the purchase of a home – fell 0.1% from a week ago.
The refinance index fell 1.6%.
The average contract rate for the 30-year mortgage for homes sold for $766,550 or less was 6.91% for the week ending March 29. That’s down from 6.93% from the week before.
The rate for jumbo loans, or the 30-year mortgage for homes sold for over $766,550, was 7.06%, down from 7.14% a week ago.
The average rate for a 30-year mortgage backed by the Federal Housing Administration was 6.74%, down from 6.75% a week ago.
The 15-year fell to 6.35% from 6.46% from the previous week. The 15-year fixed was at the lowest level in two months, the MBA said.
The rate for adjustable-rate mortgages was up to 6.37%, from 6.27% last week.
The big picture: Home buyers are putting off buying a home due to elevated mortgage rates straining how much they can afford.
Even though for-sale inventory has shown signs of rising in recent weeks, demand isn’t picking up, which means that sales activity will not pick up as quickly.
To be sure, the data does not fully capture buyer demand as some are buying homes without mortgages. A third of home buyers paid for their home purchases with cash in February, as real-estate brokerage Redfin notes.
What the MBA said: “Elevated mortgage rates continued to weigh down on home buying,” Joel Kan, vice president and deputy chief economist at the MBA, said in a statement. “Purchase applications were unchanged overall, although [Federal Housing Administration] purchases did pick up slightly over the week.”
-Aarthi Swaminathan
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
04-03-24 0701ET
Copyright (c) 2024 Dow Jones & Company, Inc.
Source: morningstar.com
Jersey City, with its sparkling skyscrapers and stunning waterfront views, is a haven for renters seeking walkable neighborhoods. From the charming streets of Historic Downtown to the lively atmosphere of Journal Square, there’s a neighborhood to suit every pedestrian’s preference. Rentals are quite expensive, though, with the average one-bedroom apartment costing $3,660.
In this ApartmentGuide article, we’ll take you on a virtual tour of the most walkable neighborhoods in Jersey City. So, get ready to discover the city’s pedestrian-friendly gems that make living here a truly unique experience.
All data sourced March 2024.
Walk Score: 96
Historic Downtown is the most walkable neighborhood in Jersey City, with a Walk Score of 96. Known for its rich history and beautiful architecture, residents and visitors alike can explore the area and take advantage of its walkable layout. Notable attractions include the Jersey City Museum and Van Vorst Park.
Search for Historic Downtown apartments for rent.
Walk Score: 95
Journal Square has a Walk Score of 95, making it the second most walkable neighborhood in Jersey City. There’s a lot to love about the area, from its bustling business district to its famous restaurants. While you’re walking around the neighborhood, check out Loew’s Jersey Theatre and the Mana Contemporary art center.
See Journal Square apartments for rent.
Walk Score: 93
McGinley Square is the third most walkable neighborhood in the city. There are numerous walkable areas and attractions throughout McGinley Square, like Saint Peter’s University and the McGinley Square Pub. And if you’re in the mood for an adventure, you’re not far from the beloved Lincoln Park.
Find McGinley Square apartments for rent.
Walk Score: 91
The Heights has plenty of amenities a resident might need within walking distance. From Washington Park to the dozens of shops along Central Avenue, you’re sure to find something to love. A notable amenity is Maxwell Place Park, which is a great spot for locals and visitors alike.
Browse The Heights apartments for rent.
Walk Score: 88
As the fifth most walkable neighborhood in the city, The Waterfront is known for its stunning views of the Manhattan skyline. Consider exploring the Hudson River Waterfront Walkway or grabbing a bite to eat at the Liberty House Restaurant with friends. There are plenty of other amenities in this scenic community as well, like the Newport Centre Mall and Newport Green Park.
Discover The Waterfront apartments for rent.
Walk Score: 87
West Side has a Walk Score of 87, making it the sixth most walkable neighborhood in Jersey City. Known for its residential charm, residents and visitors can choose from walkable amenities such as the plethora of shops and restaurants along West Side Avenue, and the Skyway Golf Course. While you’re out, check out New Jersey City University.
Look for West Side apartments for rent.
Walk Score: 85
Bergen – Lafayette is the seventh most walkable neighborhood in Jersey City. This historic community has quite a few hotspots for residents to visit on foot, including Berry Lane Park and the Liberty Science Center. While you’re walking, take a moment to smell the flowers at the Arlington Park.
Search for Bergen – Lafayette apartments for rent.
Walk Score: 77
Greenville has a Walk Score of 77, making it the eighth most walkable neighborhood in the city. There’s a lot to love about the area, from grabbing a bite to eat at nearby Uncle Bud’s, to taking a walk at Richard A. Rutkowski Park. If you’re up for a longer outing, nearby Stephen R. Gregg Park is popular among locals.
Find Greenville apartments for rent.
Walk Score: 76
The ninth most walkable neighborhood in Jersey City is Liberty State Park. Pedestrians can enjoy the variety of restaurants, cafes, and shops, like the Liberty House Restaurant, the Liberty Landing Marina, and the Liberty National Golf Course. It’s also easy to walk over to the Empty Sky Memorial for a great day out.
Peruse Liberty State Park apartments for rent.
Walk Score: 69
Hackensack River Waterfront is the tenth most walkable neighborhood in the city. Local attractions here include the Hudson Mall and the Hackensack RiverWalk, providing residents a spot to get together and enjoy their community.
Discover Hackensack River Waterfront apartments for rent.
Check out more walkable cities in New Jersey.
Methodology: Walk Score, a Redfin company, helps people find walkable, bikeable, and transit-friendly places to live, rating areas on a scale from 0-100. To calculate a Walk Score for a given point, Walk Score analyzes thousands of walking routes to nearby amenities, population density, and metrics such as block length and intersection density. Points are awarded based on the distance to amenities in each category.
Are you a renter in search of a neighborhood where you can ditch the car and embrace a more pedestrian lifestyle? Look no further than San Diego, a city that boasts a variety of walkable neighborhoods. Rentals will set you back quite a bit, though, with the average one-bedroom apartment costing $2,810.
In this ApartmentGuide article, we’ll be taking you on a virtual tour of the most walkable neighborhoods in San Diego. From the charming streets of Little Italy to the historic corners of Normal Heights, get ready to discover the city’s most foot-friendly locales.
All data sourced March 2024.
Walk Score: 98
Little Italy is the most walkable neighborhood in San Diego, with a Walk Score of 98. Known for its Italian heritage and cultural festivals, residents and visitors alike can explore the area and take advantage of its walkable layout. Notable attractions include the Little Italy Mercato Farmers’ Market, Waterfront Park, and Amici Park.
Search for Little Italy apartments for rent.
Walk Score: 97
Harborview has a Walk Score of 97, making it the second most walkable neighborhood in San Diego. There’s a lot to love about the area, from its waterfront views to its proximity to downtown. While you’re walking around the neighborhood, check out the Maritime Museum of San Diego.
See Harborview apartments for rent.
Walk Score: 97
Core-Columbia is the third most walkable neighborhood in the city. There are numerous walkable areas and attractions throughout Core-Columbia, like the San Diego Public Library and the Museum of Contemporary Art. And if you’re in the mood for an adventure, you’re not far from the renowned Balboa Park, which includes museums, trails, and the San Diego Zoo. The Silver Strand State Beach is also nearby.
Find Core-Columbia apartments for rent.
Walk Score: 97
Horton Plaza has plenty of amenities a resident might need within walking distance. From the Westfield Horton Plaza shopping center to the Lyceum Theatre, you’re sure to find something to love. A notable amenity is The New Children’s Museum, which is a great spot for locals and visitors alike.
Browse Horton Plaza apartments for rent.
Walk Score: 97
As the fifth most walkable neighborhood in the city, Gaslamp is known for its historic architecture and lively nightlife. Consider exploring the Gaslamp Quarter Historic District or grabbing a bite to eat at one of the many restaurants in the area. There are plenty of other amenities in this bustling community as well, like the San Diego Chinese Historical Museum and The Shout! House.
Discover Gaslamp apartments for rent.
Walk Score: 95
East Village has a Walk Score of 95, making it the sixth most walkable neighborhood in San Diego. Known for its art scene, residents and visitors can choose from walkable amenities such as the San Diego Central Library and Petco Park. While you’re out, check out the Quartyard, an outdoor event space.
Look for East Village apartments for rent.
Walk Score: 95
Cortez is the seventh most walkable neighborhood in San Diego. This hillside community has quite a few hotspots for residents to visit on foot, including the Cortez Hill Dog Park and the Tweet Street Park. While you’re walking, take a moment to enjoy the San Diego Air & Space Museum.
Search for Cortez apartments for rent.
Walk Score: 94
Marina has a Walk Score of 94, making it the eighth most walkable neighborhood in the city. There’s a lot to love about the area, from grabbing a bite to eat at nearby Seaport Village, to taking a walk at Embarcadero Marina Park. If you’re up for a longer outing, nearby USS Midway Museum is popular among locals.
Find Marina apartments for rent.
Walk Score: 91
The ninth most walkable neighborhood in San Diego is Sherman Heights. Pedestrians can enjoy the variety of restaurants, cafes, and shops, like Adalberto’s, Antojitos, and the historic Villa Montezuma Museum. It’s also easy to walk over to Grant Hill Park for a great day out.
Peruse Sherman Heights apartments for rent.
Walk Score: 89
Normal Heights is the tenth most walkable neighborhood in the city. Local attractions here include Ward Canyon Park, The Rabbit Hole, and the Pancho Villa Farmer’s Market, providing residents a spot to get together and enjoy their community.
Discover Normal Heights apartments for rent.
Check out more walkable cities in California.
Methodology: Walk Score, a Redfin company, helps people find walkable, bikeable, and transit-friendly places to live, rating areas on a scale from 0-100. To calculate a Walk Score for a given point, Walk Score analyzes thousands of walking routes to nearby amenities, population density, and metrics such as block length and intersection density. Points are awarded based on the distance to amenities in each category.
Mortgage loans refinancing declined for the week ending March 22, contributing to a drop in home loans applications even as interest rates decelerated, data from the Mortgage Bankers Association (MBA) showed on Wednesday.
The Refinance Index fell 2 percent from the prior week and was 9 percent lower compared to a year ago. Overall, mortgage applications dropped by 0.7 percent at a time when the 30-year fixed rate mortgage ticked down to 6.93 percent from the prior week’s 6.97 percent.
“Mortgage application activity was muted last week despite slightly lower mortgage rates. The 30-year fixed rate edged lower to 6.93 percent, but that was not enough to stimulate borrower demand,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement shared with Newsweek.
Read more: What is Mortgage Refinancing and How Does It Work?
The drop in refinancing applications comes as the housing market has been in flux nationwide.
Borrowing costs for home loans jumped to their highest since the turn of the century last year, peaking at about 8 percent in the fall. That jump in mortgage rates was sparked by the Federal Reserve hiking rates to their highest in more than two decades as policymakers moved to tighten financial conditions to battle soaring inflation. Expectations that the central bank will start lowering those rates has helped bring mortgage rates down.
Recent data suggests that buyers are still looking for lower borrowing costs. New home sales declined in February, amid high mortgage rates that economists say depressed activity as the housing market enters its busy Spring season.
Kan said on Wednesday that still elevated mortgage rates are still keeping buyers on the sidelines.
“Purchase applications were essentially unchanged, as homebuyers continue to hold out for lower mortgage rates and for more listings to hit the market,” he noted.
Kan suggest limited housing inventory is also proving to be a hindrance to the market.
“Lower rates should help to free up additional inventory as the lock-in effect is reduced, but we expect that will only take place gradually, as we forecast that rates will move toward 6-percent by the end of the year,” he said. “Similarly, with rates remaining elevated, there is very little incentive right now for rate/term refinances.”
Read more: Best Mortgage Lenders
The lock-in effect was particularly acute in the existing homes market. Most homeowners have low mortgage rates which has discouraged them from putting their properties in the market if that means they may have to acquire a new home with borrowing costs closer to 7 percent. About 90 percent of homeowners own mortgages that are under 6 percent, according to real estate platform Redfin.
There have been some signs recently that the existing homes market is recovering after struggling mightily last year.
In February, sales of previously owned homes rose by nearly 10 percent.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Source: newsweek.com
Kansas presents a compelling landscape for renters seeking the balance between serene living and vibrant urban life. This ApartmentGuide article takes you through the Sunflower State’s most appealing cities for renters. From the historical allure of Wichita to the suburban charm of Overland Park, we delve into the rental markets, neighborhoods, and cultural offerings that make Kansas an attractive place for renters. Here are the major cities in Kansas to consider moving to.
Population: 397,532
Average rent for a one-bedroom apartment: $869
Average rent for a two-bedroom apartment: $1,097
Wichita, KS apartments for rent
Wichita, KS homes for sale
Wichita is a beacon of culture and commerce in the heart of the Midwest. With its dynamic arts scene and the bustling Old Town district filled with unique shops and restaurants, there’s never a dull moment. The city also prides itself on its aviation industry heritage, offering several museums and attractions that celebrate its storied past.
Population: 197,238
Average rent for a one-bedroom apartment: $1,045
Average rent for a two-bedroom apartment: $1,238
Overland Park, KS apartments for rent
Overland Park, KS homes for sale
Overland Park offers a perfect blend of suburban charm and urban convenience, making it an ideal place for those seeking a balanced lifestyle. The city is home to an array of parks and recreational facilities such as the Overland Park Arboretum and Botanical Gardens. It also boasts top-rated schools and a thriving job market. Its vibrant downtown area is home to a variety of shops, eateries, and cultural events, ensuring that residents have plenty of options for leisure and entertainment.
Population: 156,607
Average rent for a one-bedroom apartment: $862
Average rent for a two-bedroom apartment: $995
Kansas City, KS apartments for rent
Kansas City, KS homes for sale
Kansas City is renowned for its cultural heritage, particularly in jazz music and cuisine, with some of the best barbecue joints in the country. Joe’s Kanses City Bar-B-Que is favorite. The city’s diverse neighborhoods offer a wide range of living experiences, from the historic charm of its older districts to the modern amenities of newer developments. With numerous museums, parks, and entertainment venues, Kansas City provides an urban lifestyle with a friendly, community feel.
Population: 141,290
Average rent for a one-bedroom apartment: $1,075
Average rent for a two-bedroom apartment: $1,250
Olathe, KS apartments for rent
Olathe, KS homes for sale
Olathe is a rapidly growing city that offers a high quality of life for its residents. The city is known for its excellent educational institutions, parks, and a strong sense of community. Olathe’s thriving economy and affordable living costs make it an attractive place for newcomers. The city also hosts various cultural and recreational events such as the Olathe Arts Festival throughout the year, catering to a wide range of interests.
Population: 126,587
Average rent for a one-bedroom apartment: $725
Average rent for a two-bedroom apartment: $875
Topeka, KS apartments for rent
Topeka, KS homes for sale
Topeka, the capital city, is steeped in history and political significance, offering residents a unique blend of cultural heritage and modern living. The city is home to several historic sites, museums, and the State Capitol, which provide a glimpse into the state’s and nation’s past. Topeka’s community is welcoming, with numerous parks, libraries, and community centers that foster a strong sense of belonging among residents.
Population: 94,934
Average rent for a one-bedroom apartment: $852
Average rent for a two-bedroom apartment: $1,040
Lawrence, KS apartments for rent
Lawrence, KS homes for sale
Lawrence is a lively college town that exudes a youthful energy and creativity. Home to the University of Kansas, the city is a hub for education, arts, and culture. Lawrence’s vibrant downtown area is filled with independent shops, cafes, and music venues, making it a popular destination for entertainment and nightlife. The city also places a strong emphasis on community involvement and sustainability, with numerous initiatives aimed at improving the quality of life for all residents.
Population: 67,311
Average rent for a one-bedroom apartment: $1,080
Average rent for a two-bedroom apartment: $1,427
Shawnee, KS apartments for rent
Shawnee, KS homes for sale
Shawnee is recognized for its blend of historical heritage and modern living. The city prides itself on its well-preserved historical sites and beautiful parks, offering a peaceful retreat from the hustle and bustle of city life. The JoCo Museum of History is a highlight. Shawnee’s strong community spirit is evident in its numerous festivals and events that bring residents together. The city also boasts excellent schools and a thriving local economy, making it a great place to live and work.
Population: 57,434
Average rent for a one-bedroom apartment: $1,624
Average rent for a two-bedroom apartment: $1,972
Lenexa, KS apartments for rent
Lenexa, KS homes for sale
Lenexa, often referred to as the “City of Festivals,” is known for its community life and numerous annual events that celebrate the city’s culture and history. Residents and visitors alike enjoy the The Great Lenexa Barbecue Battle in June and the Spinach Festival in September. The city offers a high standard of living with its well-maintained neighborhoods, excellent schools, and ample green spaces. Lenexa’s strategic location and robust economy attract businesses and residents alike, making it a dynamic and prosperous place to call home.
Population: 54,100
Average rent for a one-bedroom apartment: $785
Average rent for a two-bedroom apartment: $990
Manhattan, KS apartments for rent
Manhattan, KS homes for sale
Manhattan, affectionately known as “The Little Apple,” is a charming city that offers a unique blend of college town vibrancy, cultural attractions, and natural beauty. Home to Kansas State University, the city thrives on the energy and innovation of its student population. Manhattan’s residents enjoy access to a variety of outdoor activities, including exploring the nearby Flint Hills and Tuttle Creek Lake. The city’s commitment to community and education makes it an enriching place to live.
Population: 46,889
Average rent in Salina: $991
Salina, KS apartments for rent
Salina, KS homes for sale
Salina serves as a cultural and economic hub in the region, known for its thriving arts scene, historical attractions, and community-focused events. The Smoky Hill River Festival offers residents 3+ days of music and arts. The city’s housing market is diverse, offering a range of options for potential residents. Salina’s commitment to education, health care, and local businesses contributes to its reputation as a welcoming and dynamic community.
Methodology : The population data was retrieved from the United States Census Bureau for 2021, while the average rental data was sourced from Rent.com and the Redfin Data Center in March 2024.
The average monthly mortgage payment for a home purchase rose in recent weeks, even as the tight housing market shows signs of loosening.
Payments increased 10% year-over-year to an all-time high of $2,721 for the four weeks ended March 24, Redfin said on Thursday morning.
The Mortgage Bankers Association also released its February Purchase Applications Payment Index the same day, and found the median disbursement increased by $50 from January, to $2,184. That figure is a $123 increase from February 2023.
The PAPI value increased 2.4% to 170.7 in February from 166.8 in January. For the same month last year, the index was 169.7, a 1.1% increase, with the year-over-year change attributed to a 4.8% rise in median income besides the 6% rise in payments.
Rates sticking around the 7% range is a contributing factor, the MBA said.
“Challenging affordability conditions and low housing supply are keeping some prospective homebuyers on the sidelines this spring,” said Edward Seiler, associate vice president, housing economics, and executive director of the Research Institute for Housing America, in a press release. “The eventual, expected decline in rates in the coming months will hopefully spur new activity in the housing market.”
However, Redfin pointed out that during the period, new listings were up 15% from the four weeks ended March 24, 2023, the most in nearly three years. The total number of homes is 6% higher, the biggest increase in approximately one year.
“High mortgage rates aren’t deterring buyers as much as they were last year; a lot of people want to get in now before prices go up more,” said Redfin agent Rachel Riva based in Miami, in a press release. “All of my recent listings have gone under contract in under 10 days, and most of them have received multiple offers.”
Buyers are dealing with elevated mortgage rates in a number of ways, Riva pointed out. “Some are making high down payments to lower their monthly payments, and some are willing to take on a high rate now in hopes of refinancing when and if rates come down.”
Median-priced single-family homes and condos remain less affordable in the first quarter compared with historical averages in more than 95% of U.S. counties that Attom Data Solutions had enough data to analyze.
Meanwhile, major expenses on those homes were 32.3% of the average national wage in the first quarter, several points above common lending guidelines.
As bad as that data sounds, it is actually a quarter-to-quarter improvement for both, although worse than one-year prior, Attom said.
The portion of average wages nationwide required for typical mortgage payments including property taxes and insurance remains up almost 3 percentage points from one year ago and 11 points higher from early in 2021.
“The picture for home buyers is brightening a little again as affordability measures have improved for the second quarter in a row,” said Rob Barber, Attom’s CEO, in a press release.
Even though the prospect of owning a home remains a financial stretch or even a pipe dream, for many households, with mortgage rates coming down from high points near 8% and home prices growing only by modest amounts, “it’s gotten a bit easier for average wage earners to afford a home so far this year,” Barber said. “The upcoming Spring buying season will say a lot about whether home prices remain stable enough for this trend to continue.”
In only 13 counties nationwide were home prices more affordable than the historical average, but even that needed to be taken with a grain of salt because two of those locales were New York County, also known as Manhattan, and San Francisco County, whose entirety is the city limits. Those are traditionally among the highest priced markets in the U.S.
Source: nationalmortgagenews.com