Amazon’s Prime Big Deal Days continues today with discounts exclusively for Prime members.
But you don’t have to be on the hunt for every deal, because frankly, who has time? Our Nerds did the research for you by talking to experts and tracking prices on 12 popular products at four major retailers.
Whether you’re shopping for household staples or holiday gifts, consult this Nerdy list of what to buy (and skip) on Prime Big Deal Days.
Best things to buy (or skip) on Prime Big Deal Days
Buy: Past-purchase staples
Don’t let Amazon’s homepage algorithm dictate what you buy. One strategy to cut through clutter: Let your order history lead the way.
Save money by finding deals on the things you already use and know are worth your money. Open your order history and review items you’ve repurchased over the past 30 days, three months or even a year. If you spot a discount on something you need, take advantage and stock up.
Here’s how to “buy again.”
Amazon app: Go to your cart in the mobile app and select the “buy again” tab near the top of the screen.
Desktop: Click on “Returns & Orders” on the top right side of your screen. Then click “Buy Again” to add frequent purchases to your cart.
We’ve seen the “Prime Big Deals” label on trash bags, dog food, dishwasher pods, mouthwash, Clorox cleaner, the Mr. Clean Magic Eraser, vitamins and baby bottles. You can also shop for items that regularly wear out, such as the water filter in your refrigerator or the electric toothbrush heads you’ve been using for too long.
Skip: Lightning deals
Look away from pressure-driven lightning deals that are only available for a limited time or until a certain number of units are sold. These promotions are meant to make you feel panicked and push you toward impulsive purchases.
“Consumers are easily swayed by the deals and promotion messages, and their ‘fear of missing out (FOMO)’ mentality often tricks them into jumping on these flash deals,” Savannah Wei Shi, associate professor of marketing at Santa Clara University, said in an email interview.
Take a breath and know that if you miss the deal, you’re not missing out. The item will probably be discounted in the coming months, which could give you time to realize you don’t even want it anymore.
Buy: Toys
If you need gift ideas for the kids in your life, Andrea Woroch, a personal finance writer and consumer savings expert who has appeared on “Good Morning America” and other TV news shows, recommends looking for deals on crafting kits, dolls and action figures, Lego sets and even video game consoles and gaming bundles.
Woroch warns, however, that not all toy deals will be worth it this early in the holiday shopping season, and suggests going in knowing what you want. How do you know when to add that toy to your cart?
“If you’re getting 30% off, buy it. That’s a good deal,” she says.
Amazon highlighted Lego deals in its Prime Big Deal Days announcement and Target is advertising up to 30% off select sets during its Circle Week sale, which runs all week.
Skip: Small home appliances
You might be better off waiting until Black Friday or Cyber Monday to buy small home appliances. Based on our price tracking data, the Instant Vortex 6-quart 4-in-1 air fryer is on sale for $107.95 today, but if you wait, you could score a bigger deal. The air fryer was $59.49 during Amazon’s Cyber Monday sale last November.
Coffee lovers also might want to hold out for another sale. The Keurig K-Classic single-serve coffee maker we tracked was $109.99 at Amazon during July’s Prime Day Sale and is $139 now. Last year, the price dropped to $76.49 on Cyber Monday, so you’re probably better off waiting. That, or buy it directly from Keurig.com, where it’s $99.99 today.
Buy: Personal electronics
Our advice is nuanced in this category. Discounts on headphones and smart speakers are a given during Amazon’s major sales. The price of the high-end set of Sony headphones we’re tracking is down to $298 at Amazon ($297 at Walmart) — about $100 off list price — which matches the Prime Day in July price.
Many Alexa-enabled devices and Amazon-branded e-readers are also on sale today. Tablets, fitness trackers, streaming sticks, laptops, cameras and TVs are fair game, too. The 65-inch LG C3 TV we’ve been watching dropped to a low of $1,296.99 at Amazon and Walmart for this week’s sales. That’s $300 less than it was on Black Friday 2023.
But the product release cycle impacts gadget prices. For example, if you were hoping to pick up an Apple Watch Series 9 (GPS + Cellular) with a 41mm sport band at a discount after the series 10 was released, you might be out of luck.
With the new version now out, Amazon was only selling a used version of the previous model for $462.56, and it was unavailable at Target in the weeks leading up to Prime Big Deal Days. If you’re not picky about the color or style you purchase, you might be able to score a deal.
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Skip: Fast fashion on Amazon
Fashion can be hit or miss on Amazon, Woroch says. If you hold off on clothing purchases today, you can save your money for when there are more sales from a wider selection of storefronts about a month from now.
“I would wait for Black Friday weekend,” she says.
More stores participate, and you’ll have the chance to get great deals from brands known for better clothes, she says.
Are Prime Big Deal Days the best time to buy?
Not always. Amazon has created two sale holidays — Prime Day in July and Prime Big Deal Days in October — that have forced other retailers to follow suit.
Our data shows some deals are worth a look. Discounts from Amazon and its competitors during Prime Big Deal Days make it the best time to buy five of the 12 products on our list. Prime Day in July delivered the lowest price for four items on our list.
So, for nine out of the 12 items we tracked, Prime Day in July or October brought the lowest prices. Last Black Friday had the lowest price for only one of the items on our list and tied with Cyber Monday for another.
Here’s a tidbit that sums up shopping online in 2024: Prices can be just as good, or better, during non-sale days. That was the case for the aforementioned Sony headphones.
If you were shopping on a random Tuesday (Sept. 24 to be exact), you could have nabbed them for $285 from a third-party seller on Walmart.com, $12 less than today. But good prices during off-sale periods are tough to time. Waiting for the big sale is easier.
Check competitors and your budget
The Prime Big Deal Days sale isn’t the only one happening this week. Amazon is probably the play for Prime members (most deals require a Prime membership), but online shopping makes it easy to compare prices at competitors. Target Circle week (Oct. 6-12) and Walmart’s first Holiday Deals Event (Oct. 8-13) are both happening now, and our research shows prices are competitive.
Like with Amazon, Target’s sale is for Circle members only (free to join), while Walmart’s sale is open to everyone (although paid Walmart+ members get early access to special deals). Don’t overlook Best Buy, especially when it comes to electronics.
If you have a holiday shopping budget, now’s the time to revisit it. If money is tight and shopping would put you into debt or cause bills to go unpaid, skip the sale. There will be plenty of chances to buy things you want or need in the future. Some distance will give you a chance to research, reevaluate and save.
How we tracked prices
NerdWallet tracked online prices on 12 products at four nationwide retailers — Amazon, Target, Walmart and Best Buy — focusing on Black Friday 2023, Cyber Monday 2023, Prime Day 2024 and Prime Big Deal Days 2024. We selected a range of items, including electronics and home goods, that are popular with shoppers year after year.
Some caveats:
Some products have upgrades or a new model introduced in a given year. In these cases, we continued to track the original item and not the newest generation.
Pricing can vary based on color. When possible, the most basic and/or universal color was selected. If this color or model wasn’t available, we tracked another color.
In-store and online prices sometimes vary. We used online prices to reflect the current retail landscape, which is defined by dynamic pricing, and to ensure we got the most up-to-date prices available.
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In the mortgage rate world, it’s sometimes a game of inches.
This can be true for both prospective home buyers and existing homeowners looking for rate relief.
Granted, if you’re that marginal when it comes to affording a home, maybe you should consider renting until it’s a little more decisive.
But if you already own a home and hold a high mortgage rate, the next six months or so could make or break your refinance opportunity.
Lately, mortgage rates have retraced from their recent lows of just over 6%, returning to levels around 6.625%.
As a result, many millions of homeowners are no longer “in the money” for a refinance. But that could change in an instant, just as it already has.
Are Current Mortgage Rates at Least 0.75% Below Your Rate?
A new report from ICE revealed that the refinance population climbed to over 4.3 million thanks to the rally in rates that came to an abrupt end, ironically after the Fed cut rates.
At that time, the 30-year fixed mortgage was averaging around 6.125%, down from nearly 7% as recently as late July.
That meant the refinanceable population had surged from around 1.2 million to 4.3 million in a matter of less than two months.
Of these 4.3M, a whopping 65% received their mortgages over the past two years, including 1.4M in 2023 and 1.3M this year. So that whole date the rate, marry the house thing could actually pan out.
ICE considers a homeowner “in the money” for a rate and term refinance if their existing mortgage rate is at least 0.75% below prevailing market rates.
So basically any borrower with a 7%+ rate would have met that definition in mid-September.
But today it’s only the borrowers with mortgage rates around 7.5% that would benefit from a refi.
If you want to get more into the nitty-gritty, highly-qualified refinance candidates should have a 720+ FICO score and a loan-to-value ratio (LTV) of 80% or less.
Of course, conditions can change quickly. And as I wrote the other day, mortgage rates don’t move up or down in a straight line.
Meaning the recent uptick could just be a temporary hiccup and short-lived. Mortgage rates saw periods of relief on the way up. They could just as well see periods of pain on the way down.
The Refi Boom Depends on Rates Continuing Lower Into 2025
As you can see, even minimal rate changes can impact millions of homeowners looking for payment relief.
The good news is ICE expects 30-year fixed mortgage rates to continue coming down into the last months of the year and 2025. For the record, I agree with them.
Their latest estimate, calculated using the single-day spread between the loan balance weighted average APR futures price and simple average daily rate, has the 30-year down to 5.85% by March 2025.
Granted it also has the 30-year fixed at 6.17% for October 2024, so some recent adjustments may have not been captured by their time-sensitive report.
But as noted, it’s good to zoom out anyway, and pay less attention to the day-to-day or even week-to-week noise.
A lot can happen in a few days, and we’ve got two big reports coming tomorrow and Friday, the CPI report and PPI report.
Both could push rates back onto their downward trajectory. They could also push rates higher…
If ICE’s predictions hold true longer-term, there will be a nice little refi boom for loan officers and mortgage brokers in early 2025.
Rates may also approach that so-called magic number of 5.5%, at which point you’d get more home buyers entering the market too, perhaps just in time for spring.
This is the bullish case for the mortgage market, but still very much up in the air. You can see just how fickle it all is with even a .125% or .25% difference in rate potentially affecting millions.
Read on: The refinance rule of thumb.
Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 18 years ago to help prospective (and existing) home buyers better navigate the home loan process. Follow me on Twitter for hot takes.
When people think of Santa Monica, they often picture its famous beach, the lively pier, and the bustling Third Street Promenade. However, the true essence of living in Santa Monica extends beyond its iconic coastal attractions. The suburbs of Santa Monica offer a variety of residential areas that provide a quieter, more relaxed lifestyle while still offering easy access to the city’s vibrant amenities. These Santa Monica suburbs are spread across different parts of the Westside, each with its own distinct character and appeal.
In this ApartmentGuide article, we’ll explore some of the most notable Santa Monica suburbs—from upscale enclaves along the coast to charming residential communities further inland—highlighting key aspects such as population, average rent, and what makes each area stand out. Whether you’re searching for the perfect apartment in Santa Monica or curious about the different Los Angeles neighborhoods in the surrounding area, let’s discover the best parts of Santa Monica to call home.
Cost of living in Santa Monica
Before we dive into the top Santa Monica suburbs, let’s cover how much it costs to live in this coastal city. The overall cost of living in Santa Monica is significantly higher than the national average, reflecting its premium location and amenities. Housing plays a major role in this, with the median sale price for a home in Santa Monica at around $1.4 million, which is well above the national average of $432,657. Rent also follows a similar trend, with the average rent for a one-bedroom apartment in Santa Monica sitting at $3,760—considerably higher than the national average of $1,514.
While some nearby areas offer more affordable living options, others, like Santa Monica itself, come with a higher price tag. In this article, we’ll explore a variety of suburbs that offer different lifestyle and housing opportunities to fit your budget and preferences.
1. Pacific Palisades
Known for: Coastal views, upscale living, and outdoor activities
Pacific Palisades is one of the most prestigious and picturesque suburbs near Santa Monica. Nestled between the Santa Monica Mountains and the Pacific Ocean, this affluent area is a haven for those seeking luxury, privacy, and natural beauty. The Palisades Village serves as a quaint town center with upscale dining, boutique shops, and local services. Residents enjoy easy access to scenic trails in the nearby Temescal Canyon and Will Rogers State Historic Park, offering a unique blend of coastal and mountain living. The large, multimillion-dollar estates perched on hills with panoramic views of the ocean make it one of the most desirable places to live near Santa Monica.
Population: 28,000 Median home sale price: $3,123,750 Pacific Palisades transportation scores: Walk Score 19, Bike Score 15, Transit Score 32
Apartments for rent in Pacific Palisades, CA | Houses for rent in Pacific Palisades, CA | Homes for sale in Pacific Palisades, CA
2. Brentwood
Known for: Affluent lifestyle, boutique shopping, and fine dining
Brentwood is synonymous with luxury and charm. Located just east of Santa Monica, this exclusive suburb is home to sprawling estates, tree-lined streets, and an upscale vibe. Brentwood offers a unique blend of city access and suburban tranquility, with Sunset Boulevard running through its heart, lined with high-end restaurants and shops. The Brentwood Country Mart is a favorite spot for locals to gather, offering everything from gourmet groceries to chic clothing boutiques. The neighborhood’s well-maintained parks and proximity to the Getty Center make it appealing for those who appreciate culture, history, and outdoor leisure. Housing options here range from charming mid-century homes to sprawling estates with manicured gardens.
Population: 32,000 Average rent for a one-bedroom apartment: $2,462 Median home sale price: $812,500 Brentwood transportation scores: Walk Score 38, Bike Score 50
Apartments for rent in Brentwood, CA | Houses for rent in Brentwood, CA | Homes for sale in Brentwood, CA
3. Westwood
Known for: UCLA, cultural attractions, and proximity to Beverly Hills
Westwood is a bustling, vibrant neighborhood that combines the energy of a college town with the sophistication of Westside living. It’s home to UCLA, making it a hub for students, academics, and professionals alike. The neighborhood’s cultural scene is anchored by attractions like the Hammer Museum, the Geffen Playhouse, and the historic Fox Theater. Westwood’s dining scene offers a variety of global cuisines, and its walkable streets are lined with coffee shops, bookstores, and boutiques. Westwood boasts a range of housing, from high-rise apartments and condominiums to more traditional homes, offering something for nearly every lifestyle. Its proximity to Beverly Hills and Santa Monica also makes it an attractive location for those who want easy access to multiple Westside hotspots.
Population: 50,000 Median home sale price: $50,000 Westwood transportation scores: Walk Score 69, Bike Score 55, Transit Score 66
Apartments for rent in Westwood, CA | Houses for rent in Westwood, CA | Homes for sale in Westwood, CA
4. Venice
Known for: Bohemian vibe, artistic community, and beachfront living
Venice is one of the most eclectic and dynamic suburbs near Santa Monica. Famous for its vibrant boardwalk, street performers, and skate park, Venice blends beach culture with a bohemian lifestyle. The area is known for its creative residents, with art studios, galleries, and murals dotting the neighborhood. Venice’s iconic canals add to its charm, offering serene views and unique homes lining the waterways. The neighborhood’s Abbot Kinney Boulevard, often referred to as the “Coolest Block in America,” is a shopping and dining hotspot, featuring trendy boutiques, restaurants, and coffee shops. Venice’s relaxed yet creative vibe makes it one of the most distinct areas in the Santa Monica region.
Population: 40,000 Median home sale price: $1,850,000 Venice transportation scores: Walk Score 83, Bike Score 88, Transit Score 52
Apartments for rent in Venice, CA | Houses for rent in Venice, CA | Homes for sale in Venice, CA
5. Mar Vista
Known for: Community feel, diverse housing, and proximity to the beach
Mar Vista is an up-and-coming suburb located southeast of Santa Monica, known for its diversity, community gardens, and relaxed atmosphere. The neighborhood is popular with creatives and professionals who appreciate the more affordable housing options compared to neighboring Venice and Santa Monica. Mar Vista has a mix of charming single-family homes, mid-century apartments, and newly built condos. It offers a neighborhood-centric vibe, with a focus on local businesses, weekend farmers’ markets, and communal green spaces. Residents love its proximity to both the beach and downtown LA, making Mar Vista an excellent option for those seeking balance between suburban tranquility and city access.
Population: 37,000 Average rent for a one-bedroom apartment: $2,789 Median home sale price: $2,037,000 Mar Vista transportation scores: Walk Score 75, Bike Score 76, Transit Score 50
Apartments for rent in Mar Vista, CA | Houses for rent in Mar Vista, CA | Homes for sale in Mar Vista, CA
6. Culver City
Known for: Creative industries, walkable downtown, and cultural attractions
Culver City has quickly become one of the trendiest areas in West LA, with its rich history in film and television production. Sony Pictures Studios and other major entertainment companies have called Culver City home for decades. Recently, it’s transformed into a modern hub of tech startups and media companies, attracting professionals in creative fields. The downtown area is highly walkable and full of restaurants, art galleries, coffee shops, and theaters. With a growing number of parks and cultural attractions, Culver City offers a blend of urban energy with suburban comfort. Housing in Culver City ranges from chic apartments to historic homes, with many new developments adding to the modern appeal.
Population: 40,000 Average rent for a one-bedroom apartment: $3,915 Median home sale price: $1,218,750 Culver City transportation scores: Walk Score 76, Bike Score 71, Transit Score 48
Apartments for rent in Culver City, CA | Houses for rent in Culver City, CA | Homes for sale in Culver City, CA
7. Playa Vista
Known for: Tech hub, new developments, and proximity to the beach
Playa Vista is one of the most modern and tech-centric suburbs near Santa Monica. It’s the center of Silicon Beach, where tech companies like Google, YouTube, and Facebook have offices, attracting professionals in the tech industry. Playa Vista offers a wide variety of new housing developments, from luxury condos to sleek apartments, all with modern amenities. The neighborhood has numerous parks, fitness centers, and dining options, making it an ideal spot for active residents. Playa Vista’s central location provides easy access to LAX, the beach, and major highways, offering convenience for work and play. It’s perfect for those seeking an upscale, tech-driven lifestyle in a walkable, green community.
Population: 15,000 Median home sale price: $1,330,000 Playa Vista transportation scores: Walk Score 69, Bike Score 88, Transit Score 45
Apartments for rent in Playa Vista, CA | Houses for rent in Playa Vista, CA | Homes for sale in Playa Vista, CA
8. Westchester
Known for: Quiet residential feel, proximity to LAX, and diverse housing
Westchester offers a peaceful, suburban feel while still being close to Santa Monica and other parts of West LA. Its location near LAX makes it convenient for frequent travelers, while its quiet streets and well-kept homes attract those seeking a tranquil neighborhood. Westchester is primarily residential, featuring a mix of single-family homes, mid-century bungalows, and newer apartment complexes. The area also boasts several parks and local shops, creating a small-town feel while being just minutes away from major urban centers like Culver City and Venice.
Population: 49,000 Average rent for a one-bedroom apartment: $2,600 Median home sale price: $1,500,000 Westchester transportation scores: Walk Score 61, Bike Score 58, Transit Score 43
Apartments for rent in Westchester, CA | Houses for rent in Westchester, CA | Homes for sale in Westchester, CA
Methodology: The suburbs included in this list were selected based on their overall popularity, determined by search trends and housing demand in the Santa Monica area. Average rent and home sale price data were sourced from Redfin and Rent.com as of October 2024. Transportation data, including Walk Scores, Bike Scores, and Transit Scores, was sourced from Walk Score.
Both hard and soft credit inquiries can stay on your credit report for up to two years. However, their impact on your credit score can vary substantially based on your circumstances and the type of inquiry or inquiries you’re dealing with. For instance, soft credit inquiries usually don’t ding your score at all and are visible only to you on your credit report.
Read on to learn more about how long credit inquiries stay on your report and the effects they can have while there.
Key Points
• Credit inquiries typically stay on your credit report for up to two years.
• Each hard inquiry can temporarily reduce your credit score by five to 10 points. Soft credit inquiries, which are visible only to you, do not affect your credit score.
• Multiple hard inquiries for a home or auto loan in a short period count are generally counted as a single inquiry when you are rate shopping.
• Hard inquiries remain on your credit report for two years but may affect your score for only one.
• Limiting credit inquiries can help build or maintain a credit score and overall financial health.
What Is a Credit Inquiry?
A credit inquiry is a request to look at your history of using credit. This occurs any time a prospective lender wants to take a peek to assess your creditworthiness and potentially extend you a loan or line of credit. Your credit file can show how well you’ve used credit in the past and whether, for example, you typically pay bills on time and have used different forms of credit (such as credit cards and installment loans) responsibly.
Credit inquiries come in two flavors: hard inquiries and soft inquiries.
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What Is a Hard Inquiry?
A hard credit inquiry occurs when you officially submit an application for a credit card or loan. The vast majority of lenders will run a hard credit check in order to approve your application for these financial products.
Hard inquiries occur when you apply for a new loan or line of credit (say, a mortgage or a credit card). These hard pulls, as they are sometimes called, can have a negative impact on your credit score, particularly if you apply for many new loans or lines of credit at the same time. Lenders may see this behavior as a risk factor, since you might take out more credit than you can afford to pay back.
A hard inquiry can lower your credit score by about 5 to 10 points each. While these inquiries can stay on your report for up to two years, they may not have an impact after one year.
What Is a Soft Inquiry?
A soft credit inquiry may be pulled by a potential lender to prequalify you for a loan or determine your eligibility for a line of credit but without officially approving your application. Soft credit inquiries can also be part of employment background checks or be requested when you start services with a utility company. You might even pull your credit file yourself to review it for accuracy. That too is a soft inquiry.
The good news is that while they can stay on your report for up to two years, soft inquiries have no impact on your credit score. What’s more, they are visible only to you.
Exceptions to the Impact on Your Credit Score
As mentioned above, only hard inquiries can have an impact on your credit score. Additionally, it’s worth noting that even with hard inquiries, if you’re shopping around for a specific type of loan, you can take advantage of a rate shopping window. Here’s an example:
Say you’re getting ready to buy a house or a car. You may be focused on building your credit score and using a money tracker app to manage your spending and saving goals. When it’s time to shop around for the loan with the most favorable terms, a finalized rate may be available only with a fully completed application (including a hard credit inquiry). So you want to file multiple applications to see where you are approved with the best deal for your situation.
Fortunately, the credit bureaus treat multiple hard inquiries for loans of the same category as only a single inquiry. They do, however, need to be made within a certain time frame — usually between two weeks and 30 days, depending on the type of loan.
In this way, loan shopping may not have too serious an impact on your credit score.
How Long Do Credit Inquiries Stay on Your Credit Report?
Hard credit inquiries can stay on your credit report for up to two years. That’s true for soft credit inquiries, too. As mentioned above, hard pulls may impact your credit score only for a year, and soft pulls are visible only to you.
This maximum time frame of two years is substantially shorter than other markers, such as bankruptcy, which can remain on your credit report for seven or 10 years.
What Is the Difference Between a Hard and Soft Inquiry?
A hard inquiry is used to officially approve an application for a loan or line of credit, and it can have a temporary negative impact on your credit score. A soft inquiry is used in most other instances when your credit score is pulled. It does not have an impact on your credit score, nor is it visible to anyone but you.
How Much Does a Hard Inquiry Lower Your Credit Score?
Usually, a hard inquiry will lower your credit score only by five to 10 points (though the dip may be more meaningful if you’re working to build your credit). While the hard pull will stay on your record for up to two years, it often has a negative impact for only one year.
Note that your credit score updates generally occur every 30 to 45 days.
How Much Does a Soft Inquiry Lower Your Credit Score?
Trick question! Since a soft credit inquiry has no impact on your credit score whatsoever, it won’t lower it at all. In fact, as noted, soft pulls are not even visible to prospective lenders and will show up on your end only when you review your credit file.
How Do Hard Inquiries Affect Shopping for Loans?
Hard inquiries inform lenders that you’re actively shopping for credit. As mentioned above, if all that credit shopping is in the same category in a short amount of time, the effect is likely to be limited. However, if you’re perpetually shopping around for new credit (a personal loan here, a credit card there), lenders may raise an eyebrow. Too many applications for credit can ding your score.
Also keep in mind that the rate-shopping window doesn’t apply to credit cards. Every credit card you open will come with a hard credit check. The impact of this credit check is not mitigated because you submitted other credit card applications. In other words, multiple credit card applications in a short period of time may have a more lasting detrimental impact on your score than if you were shopping for a single mortgage.
How to Reduce the Impact of Credit Inquiries on Your Credit
Perhaps the simplest way to reduce the impact of credit inquiries on your score is to limit the number of inquiries requested. This means you would sparingly apply for loans and lines of credit only when you truly need to. Along with helping you avoid the negative impact of hard inquiries, keeping your credit use to a minimum can help ensure you avoid a debt spiral and stay in the best possible financial position to repay the loans you do have.
Can Inquiries on My Credit Report Be Disputed?
Credit score monitoring is important and can be done for free through several channels, including credit card companies, banks, and credit counselors.
It’s also wise to regularly review your entire file every few months to look for inaccuracies. If you notice a credit inquiry on your report that you don’t recognize, you can dispute it with the reporting credit bureau — and you should. You should also reach out to the financial institution that made the inquiry and inform them that it was not a legitimate request.
In addition, you can dispute any erroneous items on your report, such as an indication that a debt you paid off is still pending.
Recommended: Why Did My Credit Score Drop After a Dispute?
Can You Remove Credit Inquiries From a Credit Report?
The only way hard credit inquiries can be removed from your credit report is if they were made fraudulently. In this case, you should go through the process of filing a dispute with the reporting bureau, as outlined above. These days, most credit file disputes can be made online, but you can also file a dispute by mail.
Avoid Unnecessary Applications Prior to Applying for a Home or Auto Loan
Since hard credit inquiries can have a negative impact on your score, it’s a good idea to avoid applying for unnecessary lines of credit shortly before applying for a more substantial one, like a mortgage or auto loan.
Credit card applications in particular can be a slippery slope since they may be extremely easy to apply for and may offer rewards for doing so. If you’re planning for bigger financial moves in the near future, steer clear if you can.
Recommended: How to Lower Credit Card Utilization
The Takeaway
All types of credit inquiries stay on your report for up to two years, though only hard inquiries can have an impact on your score and are visible to others. Typically, a hard inquiry can lower your score up to 10 points; soft inquiries, on the other hand, have no impact. While credit card applications always lead to a hard inquiry, multiple applications for an auto or home loan in a short amount of time may appear as a single inquiry on your credit report.
As you consider your credit report, it may make sense to track your finances more closely. Tools like a spending app can help you set budgets, manage bill paying, and more.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
Can you remove credit inquiries from your credit report?
Unless you notice fraudulent credit inquiries on your report, hard inquiries will usually stay on your record for up to two years, which is a relatively short time frame in the world of credit reporting. If you do see a hard inquiry you don’t recognize, dispute the inquiry with the credit bureau and the financial institution involved immediately. Worth knowing: Soft credit inquiries stay on your report for a similar period of time, but they are visible only to you.
How many hard inquiries are too many?
There’s no hard and fast answer to this question. Generally speaking, the fewer hard inquiries your credit report sees, the better. There is an exception when you’re shopping around for a home or auto loan. As long as all the hard inquiries are for the same type of financial product and are made within a relatively short time frame (usually 14 to 30 days), they’ll appear as a single hard inquiry and have only a single hard inquiry’s impact on your credit score.
How much will a credit score decrease for each inquiry?
While the specifics can depend on the rest of your credit file, generally speaking a hard inquiry will lower your score only about five to 10 points. However, if you apply for multiple credit cards or many different types of loans in a short period of time, the inquiries may have a more substantial impact, especially if your credit file is slim or imperfect.
Does your credit score go up when hard inquiries fall off?
Hard credit inquiries usually have only a slight impact on your overall credit score. While it’s possible you may see a small increase to your score when they fall off, other positive markers, like on-time payments and lowering total credit balance, are more likely to help build your score.
Photo Credit: iStock/Kateryna Onyshchuk SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.
Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
When people think of Raleigh, they often imagine the historic charm of downtown, the thriving tech economy, and the academic institutions of the Research Triangle. However, the true essence of living in Raleigh extends far beyond the city center. The suburbs of Raleigh are diverse residential areas that offer a quieter, more laid-back lifestyle while still providing easy access to the city’s amenities and job opportunities. These Raleigh suburbs are spread across the metropolitan area, each offering its own unique character and appeal.
In this ApartmentGuide article, we’ll explore some of the most notable Raleigh suburbs—from rapidly growing communities to those with historic downtowns—highlighting key aspects such as population, average rent, and what makes each area stand out. Whether you’re searching for the perfect apartment in Raleigh or curious about the different Raleigh neighborhoods, let’s discover the best parts of the Triangle to call home.
Cost of living in Raleigh
Before we dive into the top Raleigh suburbs, let’s take a look at the cost of living in Raleigh. The overall cost of living in Raleigh is about 2% lower than the national average, making it an attractive option for those seeking affordability in a vibrant city. Housing remains a key factor, with the median sale price for a home in Raleigh at $415,000, which is below the national average of $432,657. Rent is also more affordable, with the average rent for a one-bedroom apartment in Raleigh at $1,394, compared to the national average of $1,514.
While some suburbs around Raleigh offer more affordable options, others can be more upscale depending on your lifestyle and housing preferences. In this guide, we’ll explore a variety of Raleigh’s top suburbs, each offering different lifestyles, amenities, and price points to suit your needs.
If you’re looking for more specific rental insights, check out our guides on the 13 Most Expensive Neighborhoods in Raleigh to Rent in 2024.
1. Cary
Known for: Highly rated schools, vibrant parks, and growing job market
Cary is one of the most sought-after suburbs in the Raleigh area, blending suburban charm with a touch of urban sophistication. Located just west of Raleigh, Cary offers a variety of amenities, including a thriving downtown area, excellent parks, and numerous shopping and dining options. Residents enjoy access to top-notch public services, including well-regarded schools and an abundance of community programs. Cary is also home to many professionals who work in the Research Triangle Park, one of the nation’s largest tech and research hubs. Housing in Cary ranges from modern apartments to spacious single-family homes, providing options for a variety of lifestyles.
Population: 177,000 Average rent for a one-bedroom apartment: $1,624 Median home sale price: $669,750 Cary transportation scores: Walk Score 28, Bike Score 39, Transit Score 16
Apartments for rent in Cary, NC | Houses for rent in Cary, NC | Homes for sale in Cary, NC
2. Apex
Known for: Small-town charm, historic downtown, and access to parks
Apex, located southwest of Raleigh, offers a quintessential small-town feel while providing access to big-city conveniences. The historic downtown area is known for its beautifully preserved Victorian architecture, local shops, and community events. Apex’s blend of affordable housing and proximity to numerous parks and trails makes it a popular choice for those seeking a peaceful yet active lifestyle. The town has experienced steady growth, with new residential developments adding to the variety of housing options available.
Population: 72,000 Average rent for a one-bedroom apartment: $1,525 Median home sale price: $615,000 Apex transportation scores: Walk Score 26, Bike Score 27
Apartments for rent in Apex, NC | Houses for rent in Apex, NC | Homes for sale in Apex, NC
3. Holly Springs
Known for: Quiet neighborhoods, new developments, and recreational parks
Holly Springs has quickly become one of Raleigh’s most desirable suburbs, offering a blend of small-town atmosphere and modern amenities. Located southwest of the city, Holly Springs boasts a number of parks and green spaces, such as Bass Lake Park, which is popular for its walking trails and picnic areas. Holly Springs has seen rapid development in recent years, with a variety of new housing options available, from affordable homes to upscale developments. The town’s expanding retail and restaurant scene further enhances its appeal.
Population: 42,000 Average rent for a one-bedroom apartment: $1,354 Median home sale price: $620,000 Holly Springs transportation scores: Walk Score 19, Bike Score 24
Apartments for rent in Holly Springs, NC | Houses for rent in Holly Springs, NC | Homes for sale in Holly Springs, NC
4. Morrisville
Known for: Proximity to Research Triangle Park, tech-driven economy
Morrisville’s prime location near Research Triangle Park makes it a magnet for professionals working in the tech and research industries. The suburb is nestled between Raleigh, Durham, and Cary, making it convenient for commuting to various job hubs in the region. In addition to its strategic location, Morrisville offers a variety of housing options, from modern apartment complexes to spacious homes. The town also features a strong mix of parks, shopping centers, and dining venues, providing a balanced lifestyle for its residents.
Population: 32,000 Average rent for a one-bedroom apartment: $1,505 Median home sale price: $543,000 Morrisville transportation scores: Walk Score 27, Bike Score 41
Apartments for rent in Morrisville, NC | Houses for rent in Morrisville, NC | Homes for sale in Morrisville, NC
5. Wake Forest
Known for: Historic charm, strong sense of community, and green spaces
Wake Forest offers a perfect blend of historic charm and modern amenities, making it one of the most desirable suburbs in the Raleigh area. The suburb’s historic downtown is a focal point, featuring quaint shops, cafes, and community events that foster a tight-knit atmosphere. Wake Forest also offers expansive parks and green spaces, providing ample opportunities for outdoor recreation. The town is an attractive option for those seeking a slower pace of life while still having access to Raleigh’s amenities.
Population: 50,000 Average rent for a one-bedroom apartment: $1,529 Median home sale price: $465,000 Wake Forest transportation scores: Walk Score 20, Bike Score 25
Apartments for rent in Wake Forest, NC | Houses for rent in Wake Forest, NC | Homes for sale in Wake Forest, NC
6. Garner
Known for: Affordable living, close proximity to downtown Raleigh
Garner, situated just southeast of Raleigh, is a suburb known for its affordable housing and laid-back atmosphere. Residents enjoy easy access to downtown Raleigh while living in a more relaxed suburban setting. Garner’s abundance of parks and recreation centers, such as Lake Benson Park, make it a great place for those who enjoy spending time outdoors. The town’s affordability and expanding retail options have attracted a mix of individuals looking for a convenient yet peaceful place to live.
Population: 31,000 Average rent for a one-bedroom apartment: $1,718 Median home sale price: $395,000 Garner transportation scores: Walk Score 23, Bike Score 25
Apartments for rent in Garner, NC | Houses for rent in Garner, NC | Homes for sale in Garner, NC
7. Knightdale
Known for: Fast-growing community, new developments, and convenience
Knightdale is one of the fastest-growing suburbs in the Raleigh area, known for its recent residential developments and convenient location just east of Raleigh. The town has invested heavily in public parks, recreational facilities, and community spaces, making it an appealing destination for those looking for an affordable home in a growing community. Housing in Knightdale ranges from traditional single-family homes to newly built communities with modern amenities.
Population: 19,000 Average rent for a one-bedroom apartment: $1,323 Median home sale price: $474,555 Knightdale transportation scores: Walk Score 47, Bike Score 41
Apartments for rent in Knightdale, NC | Houses for rent in Knightdale, NC | Homes for sale in Knightdale, NC
8. Fuquay-Varina
Known for: Small-town charm, historic downtown, and expanding amenities
Fuquay-Varina offers a unique mix of historic charm and modern conveniences. Located south of Raleigh, this suburb has a distinct small-town vibe with a growing number of amenities. The historic downtown area features local shops, restaurants, and cultural events, while the newer parts of Fuquay-Varina are home to modern shopping centers and entertainment venues. The town’s expanding residential developments offer a range of housing options, from affordable starter homes to more upscale neighborhoods.
Population: 35,000 Average rent for a one-bedroom apartment: $1,509 Median home sale price: $482,725 Fuquay-Varina transportation scores: Walk Score 22, Bike Score 29
Apartments for rent in Fuquay-Varina, NC | Houses for rent in Fuquay-Varina, NC | Homes for sale in Fuquay-Varina, NC
9. Rolesville
Known for: Rapid growth, residential developments, and small-town appeal
Rolesville, located northeast of Raleigh, is another fast-growing suburb that offers newer residential developments and a small-town feel. This area is known for its welcoming neighborhoods, modern amenities, and outdoor activities, including its parks and walking trails. Rolesville provides an ideal balance of suburban living and easy access to Raleigh’s urban opportunities, making it a popular choice for those looking for more space without sacrificing convenience.
Population: 9,000 Median home sale price: $413,000 Rolesville transportation scores: Walk Score 39, Bike Score 35
Apartments for rent in Rolesville, NC | Houses for rent in Rolesville, NC | Homes for sale in Rolesville, NC
10. Clayton
Known for: Historic downtown, community atmosphere, and easy access to Raleigh
Clayton is a vibrant town located southeast of Raleigh. Known for its historic downtown and strong sense of community, Clayton has become an increasingly popular option for those looking to live just outside Raleigh. The town features a variety of housing options, from historic homes to modern developments, making it an attractive choice for a range of potential residents. In addition to its affordable homes, Clayton offers parks, recreational activities, and numerous community events.
Population: 25,000 Average rent for a one-bedroom apartment: $1,227 Median home sale price: $331,400 Clayton transportation scores: Walk Score 73, Bike Score 48
Apartments for rent in Clayton, NC | Houses for rent in Clayton, NC | Homes for sale in Clayton, NC
Methodology: The suburbs included in this list were selected based on their overall popularity, determined by search trends and housing demand in the Raleigh area. Average rent and home sale price data were sourced from Redfin and Rent.com as of October 2024. Transportation data, including Walk Scores, Bike Scores, and Transit Scores, was sourced from Walk Score.
Incorporating your business as an LLC is a good idea for a number of reasons, not just obtaining a loan. In addition to helping you qualify for a business loan, an LLC helps protect your personal liabilities, maximize your write-offs, and more.
Keep reading to find out what an LLC is, pros and cons of forming an LLC, what type of LLC small business loans are available, and how to improve your chances of getting approved.
Key Points
• LLCs protect owners’ personal assets from business debts and liabilities.
• An LLC loan is a small business loan that is given to a corporation as opposed to an individual.
• Types of business loans that LLCs can apply for include business term loans, SBA loans, business lines of credit, merchant cash advances, and more.
• Common loan requirements include financial statements, tax returns, and business plans.
• To qualify for an LLC loan, most lenders require a minimum business history, credit score, and annual revenue.
What Is a Limited Liability Company (LLC)?
A limited liability company (or LLC for short) is a popular option when choosing a business structure. Essentially, an LLC is a separate legal entity from you that’s created under state law. It has its own assets, liabilities, bank accounts, and credit profile separate from yours.
An LLC can have one or more owners, and each owner is called a “member.” Even if you’re just a one-person operation, however, you may still wish to opt for this business structure.
Unlike a sole proprietorship (which is owned by one person with no distinction between the business and the owner), the members of an LLC have liability protection from the debts and obligations of the business. That means a business creditor or someone who sues the business can’t come after the personal assets of the owners. Like a sole proprietorship, however, the owner of an LLC pays taxes as an individual (not as a corporation).
To form an LLC, you choose a name and file articles of organization with your state’s corporate filing office, often the Secretary of State. And, if an LLC has more than one member, it must obtain its own IRS Employer Identification Number (EIN).
Recommended: Sole Proprietorship vs LLC: How to Choose
Pros and Cons of Forming an LLC
Here are some of the pluses and minuses of forming an LLC.
Pros of Forming an LLC
Cons of Forming an LLC
Limited liability protection for owners/members
Leadership roles are less clear than in a corporation
Simple and inexpensive formation process in most states
Must renew with state (and pay a fee) each year
Allows you to separate your personal and business finances
Harder to raise funds from investors
Avoids double taxation
Risk of dissolution if one of the partners leaves the company
Forming an LLC provides many advantages to small business owners. One of the biggest is that it can reduce your personal liability to debts incurred by the LLC. This liability protection comes without the work and expense of forming a corporation.
There are also some tax advantages. An LLC has pass-through taxation, meaning it does not pay corporate taxes on profits. Business profits pass through to the members, who pay personal income taxes on salary and other distributions received from the LLC.
On the downside, LLCs do not issue stock, which can be a powerful tool when raising capital. And, LLCs typically face higher annual fees than corporations. Some states also require annual reports in order to keep an LLC in good standing.
Another potential negative is that if a member joins or leaves an existing LLC, that LLC may be obligated to dissolve and reform with new membership.
How the Small Business Loan Process Is Different for LLCs
LLCs follow the same loan application process as other types of businesses. The major difference is who holds liability for the loan funds in case the borrower defaults.
With an LLC, the company owners are not personally responsible for the loan funds unless they sign a personal guarantee . In order to avoid having to sign a personal guarantee, your company typically needs to have an established financial track record or have some type of business assets to use as collateral to secure the loan.
What Is an LLC Loan?
An LLC loan is no different than any other type of small business loan, except it is given to the LLC and not the individual. As stated above, the business owners themselves are not liable for the loan unless they sign a personal guarantee. Instead, it is the business itself that is liable.
How Do LLC Loans Work?
An LLC loan works just like any other small business loan, since essentially that is what it is. The type of loan you choose will determine how the loan works. A business line of credit, for example, works similarly to a credit card. You are given a maximum limit of funds to which you can draw on. You make payments and pay interest only on the amount you spend.
A business term loan, on the other hand, is a lump sum of money given to you. The interest rate is usually fixed, allowing your monthly payments to stay the same until the loan is paid back.
What Expenses Are LLC Loans Used For?
LLC loans can be used for any type of business expense, including paying for working capital, hiring new employees, purchasing inventory, expanding your business, paying marketing expenses, launching a new business, refinancing existing debt, and more. Small business loans are not allowed to be used for personal expenses.
Recommended: Consolidate Business Loans
Types of LLC Business Loans
When exploring business loans for your LLC, here are some lending options you may want to consider.
Bank Loans
Banks will offer some of the most ideal loan amounts, terms, and interest rates. However, getting a business loan for an LLC from a bank generally requires strong financials and a good credit score. You also typically need to submit a fair amount of documentation in order to complete your application. If you’re looking for fast financing, a bank loan may not be the way to go.
Unsecured Loans
If your LLC is short on valuable assets or you would prefer not to put assets down as security on loans, an unsecured business loan may be a good option since they don’t require any collateral to qualify. However, since the risk is higher on the lender’s part, interest rates for unsecured business loans are typically higher than secured loans.
Online Term Loans
Online term loans generally have more flexible requirements than bank loans — meaning new LLCs, and even those with bad credit — may be able to qualify. In addition, the application process is typically quick and funding time can be fast. However, the ease and flexibility come at a cost — online business term loans tend to have higher interest rates and fees than traditional bank loans.
SBA Loans
LLCs are eligible to apply for SBA loans, which are offered by private lenders but backed by the U.S. Small Business Administration. Because this backing reduces risk for the lender, SBA loans offer LLCs some of the best interest rates, loan amounts, and repayment terms out there. However, SBA loans also have tougher qualification criteria when compared with other types of LLC business loans. And, the application and approval process can take months to complete.
Invoice Factoring
If your LLC processes a large amount of client invoices, another option to consider is invoice factoring. With this type of financing, the factoring lender pays you a percentage of your outstanding invoices up front. Once an invoice is paid, you’re given the remaining balance after a fee is subtracted for the lender. This type of financing can offer quick cash. However, fees can be hefty and the factoring company may take over communication with your customers.
Line of Credit
A business line of credit works differently than a traditional term loan. Rather than receiving a lump sum of money, a business line of credit gives you access to a pool of funds that you can draw from when you need funding. You only pay interest on the funds you draw.
Once you’ve repaid what you’ve borrowed, your line of credit will typically reset to the original amount. This can be a good way to iron out seasonal cash flow issues and keep you prepared for unexpected expenses.
Merchant Cash Advance
If you need cash quickly and your LLC processes debit and credit card payments from customers, you might consider a merchant cash advance instead of a loan. With this option, you get a lump sum of money upfront from the lender. The lender then takes a percentage of your business’s future credit and debit card sales until the borrowed amount, plus a fee, is repaid. This type of LLC financing is typically more costly than other options.
Recommended: Large Loans for Business
How to Qualify for an LLC Business Loan
Below are some tips for choosing the best loan while also expediting the application process as much as possible.
Determine What You Need
Before you start applying for an LLC business loan, you’ll want to think about what you will do with the loan and exactly how much you will need to accomplish your goal. You may also want to create a detailed plan for how your company will use the funds and what impact you expect the money to have on your business growth.
Recommended: How Much of a Business Loan Can You Get?
Review Loan Requirements
To review loan requirements for a small business loan, start by checking the lender’s criteria, including credit score, business history, and revenue thresholds. Assess the loan amount, interest rates, repayment terms, and required documentation. Ensure the terms align with your business needs and capacity.
Consider Your Qualifications
Key factors lenders look at to determine your eligibility for a loan include:
• Revenues: Lenders will want to know if your business has sufficient cash flow to repay the loan or financing.
• Credit: This shows lenders how your company has managed debt in the past. If your business doesn’t have much credit history, the lender will likely want to check your personal credit.
• Time in business: Many lenders have a minimum time in business requirement. Some require a minimum of two years in business, while others will provide financing to younger businesses and even startups.
• Collateral: This is a tangible asset pledged to secure the loan. Not all business loans require collateral.
Recommended: Long-Term Small Business Loans
Compare Lenders
There are a variety of business loans available, and it can be wise to compare multiple options to find one with rates and terms that work best for you.
In addition to looking at the interest rate, you may also want to keep an eye out for any other costs, like origination fees (this is a percentage of the loan funds a lender takes as payment for processing the loan) and prepayment fees (a fee charged for paying off the loan early), which also impact the cost of the loan.
Gather Documentation in Advance
It can take time to collect all of the legal and financial documents you need to apply for an LLC business loan. Since most lenders request most of the same information, you can start pulling those documents as you’re rate shopping.
Once you start to apply for a loan, make sure your business loan application includes everything the lender asked for and in the appropriate format. This can help reduce any unnecessary back and forth, allowing you to get a decision as quickly as possible.
Requirements do vary by lender, but we’ve listed some common ones below.
Financial Documentation
• Business credit report
• Income tax return
• Personal financial statements from all owners with at least 20% interest in the LLC
• Up to one year of business bank statements
• Projected cash flow, income statements, and balance sheets
• Collateral documents that outline the value of any assets you intend to secure the loan with
Online lenders may allow you to digitally connect your banking and accounting software to import some of this information directly.
Business Documents
As an LLC, you’ll need to submit your LLC’s Employer Identification Number (EIN) and possibly also your IRS Form SS-4 notice (this is the notice you receive after filing an SS-4 application for your EIN).
You may also need to submit your articles of organization, which designates your registered agent and management structure, as well as your operating agreement to confirm the ownership structure, revenue sharing percentages, and other details.
In addition, a lender might request a business plan to demonstrate the market, competitive landscape, and growth projections after using the loan funds.
Other Important Documents
A lender may also want to see any relevant legal documents that impact the LLC’s finances. This could include existing loan agreements, leases, and contracts with other businesses.
Offer Collateral
And finally, you may want to consider offering collateral to secure your loan. Examples of collateral include equipment, buildings, invoices, home equity, inventory, real estate, vehicles, and securities, such as corporate bonds or certificates of deposit.
Putting up collateral reduces the risk to the lender, allowing them to possibly offer you a lower interest rate or better terms. Keep in mind, though, that if you default on your loan, the lender is able to seize your collateral.
Recommended: Business Loans for Bad Credit
The Takeaway
Getting a business loan as an LLC can help you reach your financial goals with an extra infusion of working capital. The best loan choice will depend on your LLC’s needs, as well as factors like your credit score, if you have collateral, how long you’ve been in business, and your company’s annual revenue.
If you’re seeking financing for your business, SoFi can help. On SoFi’s marketplace, you can shop top providers today to access the capital you need. Find a personalized business financing option today in minutes.
With SoFi’s marketplace, it’s fast and easy to search for your small business financing options.
FAQ
Can you get a business loan as an LLC?
Yes. Lenders will review your application just as they would any other type of corporate applicant. You may need to submit documentation like your articles of organization to show the ownership structure. Otherwise, the application process should be similar to any other company’s experience.
Is it hard to get business loans as an LLC?
Each lender has its own criteria for approving business loans, including those for an LLC. Requirements may include a minimum amount of years in business, credit score, and annual revenue.
Can LLCs borrow money from banks?
Banks that offer any type of business loan will allow LLCs to apply. Depending on the loan and your company’s financial history and credit profile, you may be required to provide a personal guarantee. If you do, this eliminates the limited liability protection that typically comes with owning an LLC.
SoFi’s marketplace is owned and operated by SoFi Lending Corp. See SoFi Lending Corp. licensing information below. Advertising Disclosures: SoFi receives compensation in the event you obtain a loan through SoFi’s marketplace. This affects whether a product or service is featured on this site and could affect the order of presentation. SoFi does not include all products and services in the market. All rates, terms, and conditions vary by provider.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
Credit reports contain financial records of debts you owe and ones you’ve paid off. Positive information can remain on your credit reports indefinitely. Most negative information falls off your credit after seven years, though certain types of bankruptcy filings can remain longer.
Here’s a closer look at how financial records impact your credit reports.
How Long Do Inquiries Stay on a Credit Report?
When you apply for a loan, credit card, or line of credit the lender can perform what’s called a hard inquiry. This simply means that they pull copies of your credit reports, which they’ll use to make an approval decision.
Hard inquiries show up on a credit report and they’re included in your FICO® credit score calculations. Each new inquiry remains on your credit report for two years, according to FICO. However, they’re only considered in credit score calculations for the first 12 months. Soft inquiries occur when you check your credit reports yourself or a company pulls your credit for the purposes of prequalifying or preapproving you for a loan. These inquiries won’t show up on a credit report, and they don’t have any impact on your credit score.
That distinction is important if you’re learning how to build credit.
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Recommended: How Long Does It Take to Build Credit?
How Long Does Negative Information Remain on Your Credit Report?
Negative information on a credit report is any information that’s harmful to your credit score. What affects your credit score negatively? The list includes:
• Late payments
• Missed payments
• Collection accounts
• Charge-offs
• Judgments
• Foreclosures
• Bankruptcies
Generally, negative information can stay on your credit report for up to seven years. Chapter 7 and Chapter 11 bankruptcy, however, can stick around on your credit report for 10 years.
In terms of how negative items impact your credit score, age matters, according to FICO. Newer negative items, such as collections or late payments, have a more immediate impact on your scores than negative items that are several years old. A money tracker app makes it easy to track your credit and your money in real time so you can get ahead financially.
How Long Does Positive Information Remain on Your Credit Report?
Positive information can remain on credit reports indefinitely. Credit bureaus are not required to remove this information, though they may do so at the seven-year mark. Examples of positive information that can stay on a credit report, regardless of time, include:
• On-time payments
• Open accounts that have a $0 balance or a low balance, relative to your credit limit
• Closed accounts that you’ve paid in full
Positive items on a credit report are a good thing, since they help your credit scores. On-time payments and low balances on credit accounts have the biggest impact overall. Making biweekly payments or increasing your credit limits are two helpful ideas for how to lower credit utilization. Using a spending app to manage your budget and expenses can also help keep credit card balances low.
How to Remove Negative Information From Your Credit Report
Negative information that’s accurate cannot be removed from a credit report. For example, if you miss several payments on a loan but get caught up later, those late payments will stay on your credit reports until you hit the seven-year mark.
Inaccurate information, on the other hand, can be removed through the dispute process. Examples of inaccurate or incorrect items you could dispute on a credit report include:
• On-time payments that were not properly attributed to your account
• Credit accounts that don’t belong to you
• Paid-in-full accounts that still show a balance on your credit reports
• Account activity relating to fraudulent activity or identity theft
You’ll need to dispute the inaccurate information with the credit bureau that reports it. All three credit bureaus — Equifax, Experian, and TransUnion — allow you to initiate credit report disputes online. You’ll need to fill out a dispute form and provide some details about the dispute.
Once the credit bureau receives the dispute, it’s required to investigate your claim and return a decision to you promptly. If the credit bureau finds that there’s an error on your reports, it’s legally required to remove or update the information.
Your credit score updates monthly for the most part. Enrolling in credit score monitoring can make it easier to track changes, including changes to your score following a dispute.
Recommended: Why Did My Credit Score Drop After a Dispute?
Do You Still Have to Pay a Debt If It Fell Off Your Credit Report?
A debt can fall off your credit report if enough time passes. However, the amount owed doesn’t go away. Creditors and debt collectors could still attempt to get you to pay if the statute of limitations hasn’t passed.
The statute of limitations on debt allows creditors and debt collectors a set window of time in which to sue you for an unpaid balance. Each state determines how long the statute of limitations applies but in all states, its expiration doesn’t remove your legal obligation to pay what you owe.
Should you pay old debts? Ethically, yes. But if a debt falls off your credit report and the statute of limitations has expired, it would be very difficult for a creditor to force you to pay via a lawsuit.
The Takeaway
Reviewing your credit reports regularly is a good way to see what’s helping or hurting your score at any given time. If you have negative items on your credit report, you might see your score drop, but those points can come back with the passage of time.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
What stays on a credit report forever?
Positive information can stay on a credit report forever, as credit bureaus are not required to remove any items that help your credit score. However, credit bureaus can choose to remove positive information after seven years.
Can credit information stay on my credit report for over 7 years?
Credit information can stay on your credit report for over seven years if it’s positive. Generally, negative information cannot stay on your report for more than seven years, unless you file for Chapter 7 or Chapter 11 bankruptcy. In that case, the bankruptcy filing could stay on your report for 10 years.
Do old accounts fall off a credit report?
Old accounts can fall off your credit report after seven years if they have negative information. Positive information from old accounts or newer ones can stay on your credit reports indefinitely.
Photo credit: iStock/PeopleImages SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
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Looking to head down south for football, cowboy culture, and great barbecue? How about Dallas-Fort Worth Metroplex? These cities are named two of Texas’ best places to live with their relatively affordable housing and rental prices.
Searching for an apartment can be tough, so we’ve put together a list of some of the best apartments in Dallas-Fort Worth to make it easier. Once you’ve determined how much rent you can afford and set your budget, you’re sure to find a place you’ll love, no matter what your criteria are.
Living in Dallas is a perfect blend of big-city excitement and Southern hospitality. You’ll find great job opportunities, affordable living, and endless things to do—whether you’re into art, food, sports, or exploring the outdoors.
Gateway Oak Cliff
Neighborhood: Oak Cliff/Bishop Arts District Walk Score: 88 Floor Plans: Studio, 1, 2, and 3 bedrooms Square Footage: 602 – 1,274 sq ft Starting Price: $1,093
The Gateway Oak Cliff is ideally located in the vibrant Oak Cliff neighborhood of Dallas, TX, less than a mile from downtown and within walking distance of the lively Bishop Arts District. With a high Walk Score of 88, this community offers unbeatable walkability to the trendy Bishop Arts District and is just minutes from downtown.
Choose from a variety of floor plans, including studio, 1-bedroom, 2-bedroom, and 3-bedroom apartments, all available at competitive rates ranging from $1,000 to $2,750. Each home boasts desirable features such as a balcony, patio, or deck, and access to top-tier amenities like a fitness center, swimming pool, controlled access, and more. Plus, enjoy the convenience of air conditioning, dishwashers, and some paid utilities. Perfectly located near shopping, dining, and entertainment, The Gateway Oak Cliff is your next home in one of Dallas’ most dynamic neighborhoods.
The Lofts at Mockingbird Station
Neighborhood: Downtown Dallas Walk Score: 88 Floor Plans: Studio, 1, 2 bedrooms, and penthouses Square Footage: 612 – 2,649 sq ft Starting Price: $1,829
The Lofts at Mockingbird Station offers a unique living experience in a historic downtown building. Whether you’re looking for a studio, 1-, or 2-bedroom apartment—or even a spacious penthouse—each home offers incredible views of downtown Dallas and SMU. With high ceilings, modern kitchens featuring granite or quartz countertops, brick backsplashes, and stainless steel appliances, these lofts are designed with both comfort and style in mind.
Prices start at $1,766, and you’ll enjoy great perks like a rooftop pool with amazing skyline views, a 24-hour fitness center, and easy access to the DART Light Rail and Central Expressway 75. Plus, you’re close to everything—Uptown, downtown, shopping, dining, entertainment, and even the Katy Trail for outdoor adventures. The Lofts at Mockingbird Station are more than just a place to live—they’re a place to feel at home.
Armstrong at Knox
Neighborhood: Knox Henderson Walk Score: 94 Floor Plans: 1 and 2 bedrooms Square Footage: 750 – 1,565 sq ft Starting Price: $2,629
Located in the desirable Knox-Henderson area, The Armstrong at Knox offers contemporary, boutique-style 1- and 2-bedroom apartments. The units are designed with modern elegance, featuring stunning quartz countertops, sleek wood flooring, private balconies, and spacious walk-in closets for that extra touch of luxury. As for amenities, this complex has a fully equipped fitness center, a resort-style pool, a community fire pit, and an outdoor kitchen for grilling. Plus with a Walk Score of 94, you’re just steps away from amazing shopping, dining, and the Katy Trail, so everything you need is right at your doorstep.
Easton
Neighborhood: Vickery Place Walk Score: 80 Floor Plans: Studio, 1, and 2 bedrooms Square Footage: 501 – 1,193 sq ft Starting Price: $940
Located in Vickery Place right off Interstate 75, with a Walk Score of 80, Easton is just minutes away from Dallas’s top shopping, dining, and entertainment options. Choose from a variety of floor plans, including studios, 1-bedroom, and 2-bedroom apartments, with prices starting at $1,269. Some units have personal balconies or patios, vaulted ceilings, walk-in closets, and natural gas fireplaces. The community amenities are equally inviting, with charming courtyards with barbecue grills, a well-equipped fitness center, a community center, and a resort-style pool.
Vue Live Oak
Neighborhood: Deep Ellum Walk Score: 88 Floor Plans: Studio, 1, and 2 bedrooms Square Footage: 488 – 1,389 sq ft Starting Price: $1,108
Located in the desirable Deep Ellum neighborhood, Vue Live Oak boasts a fantastic Walk Score of 88, putting amazing restaurants, shopping, and entertainment just steps away. You can choose from studio, 1-, and 2-bedroom floor plans, with prices starting at $1,100. Your new home will feature vaulted ceilings, a private balcony or patio, modern kitchen cabinets, granite countertops, washer and dryer connections, and spacious walk-in closets. The complex also offers an incredible community area complete with outdoor grills and a resort-style pool and lounge area, perfect for relaxing or entertaining friends.
Living in Fort Worth offers a laid-back vibe with a strong sense of community and Texas pride. Known for its rich Western heritage, the city combines small-town charm with modern amenities. With great job opportunities, affordable housing, and a thriving arts and entertainment scene, it’s a great place to call home.
The Palo
Neighborhood: Storia Walk Score: 1 Floor Plans: Studio, 1, 2, and 3 bedrooms Square Footage: 750 – 1,451 sq ft Starting Price: $1,400
The Palo is a newly built, boutique community that combines rustic charm with modern elegance. Here, you’ll find a range of options from 1- to 3-bedroom apartments, as well as 3-bedroom townhomes in the Storia neighborhood of Fort Worth, TX. Each home includes thoughtful touches like a chef-inspired kitchen with stainless-steel appliances, a private yard or patio, and an in-home washer and dryer. Conveniently located off I-35W, The Palo puts you close to great shopping and dining, plus attractions such as Texas Motor Speedway, the Fort Worth Stockyards, and The Golf Club at Champions Circle.
Madera at Leftbank
Neighborhood: West 7th Street Walk Score: 60 Floor Plans: Studio, 1, 2, 3, and 4 bedrooms Square Footage: 395 – 4,899 sq ft Starting Price: $1,269
Experience contemporary interiors and thoughtful amenities in Fort Worth at the Madera at Leftbank. This complex offers studio to 4-bedroom apartments with elegant quartz countertops, wood-grain flooring, and spacious layout. As for amenities, you’ll have beautiful patios, a modern fitness center, and a luxurious swimming pool and sundeck. With a Walk Score of 60, The Madera is also at a prime location. Living here you’ll find yourself nearby Trinity Trails, cultural spots in West 7th, and a variety of dining options. With a blend of world-class sports and outdoor activities, you may have just found your next home.
Hillwood – Paloma Village
Neighborhood: North Fort Worth Walk Score: 30 Floor Plans: 1, 2, and 3 bedrooms Square Footage: 556 – 1,972 sq ft Starting Price: $1,085
Located in North Fort Worth, Paloma Village is Hillwood’s latest community of modern apartments at Alliance Town Center, offering modern 1- to 3-bedroom units designed for comfortable living. The spacious floor plans and top-notch amenities make every day feel like a retreat, including a dog park for your furry friends and a barbecue area perfect for gathering with friends. Plus, with shopping and dining just steps away, you’ll have everything you need right at your fingertips, making Paloma Village the perfect place to call home.
Living in Garland, TX, offers a friendly suburban atmosphere just minutes from Dallas with diverse communities, plenty of parks, and affordable housing,
Rye Bunker Hill
Neighborhood: Garland Walk Score: 4 Floor Plans: 1, 2, and 3 bedrooms Square Footage: 578 – 1,436 sq ft Starting Price: $1,455
At Rye Bunker Hill, you’ll find a new level of apartment living that feels both modern and comfortable. They offer a range of one, two, and three-bedroom homes designed with stylish touches like hardwood-style flooring in the main areas, soft carpet in the bedrooms, and spacious closets with built-in shoe racks. The community also provides a variety of amenities to make life easier and more enjoyable like the valet trash service, coffee bar, private work pods, pickleball courts, and resort-style saltwater pool with sun shelves and a spacious poolside cabana.
Grand Prairie, TX, combines suburban charm with a convenient location between Dallas and Fort Worth. The city offers a variety of parks, shopping centers, and entertainment options, there’s always something to enjoy.
The Duvall
Neighborhood: Grand Prairie Walk Score: 23 Floor Plans: Studio, 1, and 2 bedrooms Square Footage: 626 – 1,419 sq ft Starting Price: $1,595
Located in the heart of Grand Prairie, The Duvall provides a variety of studio, 1-bedroom, and 2-bedroom apartments. This new community combines modern style with thoughtful amenities and attentive service. Each apartment is designed for comfort and style, featuring high-quality appliances, stylish finishes, and stunning views. Residents can take advantage of amenities such as a resort-style pool, a modern fitness center, and outdoor grilling stations.
If you decide Melissa, TX is home, you’ll enjoy a peaceful lifestyle with access to parks and outdoor activities, all while being just a short drive from the amenities and attractions of the Dallas-Fort Worth area.
The Waldon
Neighborhood: Melissa Walk Score: 0 Floor Plans: 1, 2, and 3 bedrooms Square Footage: 620 – 1,671 sq ft Starting Price: $1,215
Once a cherished local hotel, The Waldon has now been reimagined into a cozy retreat with a blend of classic charm and modern style. Featuring craftsmanship from a bygone era, each space delivers a sense of luxury and nostalgia with flexible layouts and stylish finishes that feel both current and classic. You’ll feel a balance of relaxation and connection with top-notch amenities like a private fitness center, outdoor kitchen, resort-style pool, and yoga studio. Plus, its location near Melissa, McKinney, Fairview, and Frisco makes it easy to explore everything the area has to offer.
Frisco has a welcoming small-town vibe but offers all the perks of city life. There are plenty of restaurants, shops, and entertainment options to explore, and if you enjoy the outdoors, you’ll love the parks and trails. Plus, Dallas is just a short drive away, making it easy to enjoy the city.
The Links on PGA Parkway
Neighborhood: Frisco Walk Score: 1 Floor Plans: 1, 2, and 3 bedrooms Square Footage: 639 – 1,452 sq ft Starting Price: $1,612
The Links on PGA Parkway is a fantastic place to call home in Frisco, offering a range of 1- to 3-bedroom apartments each designed with high-end finishes. It’s conveniently located near top employers, schools, dining, shopping, and even the Toyota Stadium and Dr. Pepper Ballpark. The community has great amenities, including a fitness center, a resort-style pool with cabanas, and a clubhouse with Wi-Fi. Inside the apartments, you’ll find modern finishes, stainless steel appliances, granite countertops, and roomy walk-in closets.
Presidium Frisco Square
Neighborhood: Frisco Walk Score: 49 Floor Plans: Studio, 1, 2, and 3 bedrooms Square Footage: 532 – 1,808 sq ft Starting Price: $1,499
Frisco’s Presidium Frisco Square offers a mix of comfort and modern style with its well-designed studio and 1- to 3-bedroom apartments to accommodate your lifestyle. You’ll find features like keyless entry and smart light switches for a touch of convenience. The amenities are pretty impressive, too. Sharpen your skills with the golf simulator, or unwind with friends on the rooftop terrace. Take advantage of the resort-style pool, pet park, and outdoor pavilion. And when the Texas heat kicks in, retreat indoors to the resident clubroom or cinema lounge.. Plus, the location is really convenient—just a short walk to great dining, shopping, and close to Frisco ISD.
Known as the “Peach Capital of Texas,” Weatherford offers a relaxed lifestyle with beautiful parks, friendly neighborhoods, and a rich history. The town’s charm comes from its farmers’ markets, unique shops, and tasty eateries. And, with easy access to Fort Worth, you can enjoy Weatherford’s tranquility while staying close to city excitement.
Mustang Ridge
Neighborhood: Weatherford Walk Score: 56 Floor Plans: 1, 2, and 3 bedrooms Square Footage: 567 – 1,151 sq ft Starting Price: $1,150
Located just 25 minutes from Fort Worth and in the heart of Weatherford, Mustang Ridge apartments are a luxury community providing modern and comfortable spaces. Each apartment has roomy living spaces, high ceilings, granite countertops, stainless steel appliances, and stylish lighting. The amenities are top notch, where you can enjoy the resort-style pool, dog park, and grill stations. Plus, the convenient location near restaurants, shops, and bars, with easy access to I-20, makes getting around the Dallas-Fort Worth area a breeze.
Celina, TX is currently the fastest growing suburb just north of Dallas, offering the best of both worlds. This city has a small-town vibe with a tight-knit community feel, great parks, and fun events throughout the year.
One Preston Station
Neighborhood: Celina, TX Walk Score: 17 Floor Plans: 1, 2, and 3 bedrooms Square Footage: 638 – 1,234 sq ft Starting Price: $1,190
One Preston Station brings a fresh vibe to small-town living in Celina, Texas, offering 1-, 2-, and 3-bedroom apartments starting at $1,200. The apartments are designed to balance comfort and privacy, with features like ceiling fans, plenty of closet space, scenic patios or balconies, and in-unit washers and dryers. The community is eco-friendly and includes a pool, a well-equipped fitness center, a community garden, and a beautiful outdoor kitchen. Plus, it’s in a rapidly growing part of the city, so you’ll find new workplaces, dining, and entertainment options popping up all the time.
Plano has a lot to offer, from its diverse dining options to beautiful parks that invite outdoor exploration. You’ll appreciate the community spirit here, with plenty of events and festivals throughout the year that foster connection among residents. Plus, with convenient access to major highways and the DART rail system, commuting to Dallas for work or leisure is effortless.
The Beacon
Neighborhood: Plano Walk Score: 41 Floor Plans: Studio, 1, and 2 bedrooms Square Footage: 583 – 1,250 sq ft Starting Price: $1,341
As a part of The Billingsley Collection, living at The Beacon is sure to enhance your daily life in Plano, TX. The building’s diverse architectural style blends Parisian influences with Southeast Asian touches, creating a unique and memorable environment. The exterior reflects historic Philadelphia brick structures, while the lively interiors bring fresh energy to the area. The community offers extensive amenities to enhance your living experience. Enjoy two resort-style pools, beautifully landscaped courtyards, and covered bungalows for a peaceful retreat. With its lively community, convenient retail options, and wide range of amenities, you’re sure to love relaxing, connecting with others, and staying active – all while living here.
LVL 29
Neighborhood: West Plano Walk Score: 48 Floor Plans: 1, 2, 3, and 4 bedrooms Square Footage: 681 – 3,588 sq ft Starting Price: $2,194
Every apartment in LVL 29 is thoughtfully designed for a unique living experience. Enjoy stylish kitchen islands with pendant lighting, serene private balconies, luxurious freestanding tubs, charming interior and exterior fireplaces, and premium stainless steel kitchen appliances that enhance your cooking. Residents can take advantage of a fully-equipped fitness center, relax in the poker and sports lounge, enjoy the resort-style swimming pool, or unwind in the outdoor heated spa. With its prime location in the Legacy West area, you’ll enjoy the plethora of dining, entertainment, and business options nearby.
Coppell, TX, stands out as a great place to call home, offering the best of both worlds—small-town warmth with easy access to urban conveniences. You’ll find a charming selection of local restaurants and shops that foster a strong sense of community, where neighbors become friends.
Hastings End
Neighborhood: Coppell Walk Score: 28 Floor Plans: 1 and 2 bedrooms Square Footage: 597 – 1,318 sq ft Starting Price: $1,429
Located at the tip of the Sound Peninsula, Hastings End offers a unique blend of luxury, comfort, and lakeside living in Coppell, TX. Part of The Billingsley Collection, this thoughtfully designed neighborhood offers 1- and 2-bedroom apartments that showcase stunning architecture and sophisticated interiors. Each unit features gourmet kitchens with stainless steel appliances and expansive outdoor patios and balconies, extending your living space to enjoy the beauty of lakeside living. This complex offers amazing amenities like an inviting private clubroom, a Moroccan-inspired courtyard, a hedge-lined pool, and a scenic events lawn overlooking North Lake, which are perfect for any gathering.
Dane Park Grapevine
Neighborhood: Grapevine Walk Score: 53 Floor Plans: 1 and 2 bedrooms Square Footage: 750 – 1,163 sq ft Starting Price: $1,464
Looking for a community where both you and your pup will feel right at home? Dane Park Grapevine is the top dog-friendly apartment in the United States, offering the ultimate convenience with onsite doggy daycare and even concierge services. With 1- and 2-bedroom floor plans, each unit is designed to meet the needs of both you and your furry friend, offering comfort and style. The community also boasts top-notch amenities, including an entertainment lounge, a modern gym, and even an indoor basketball court.Alongside the pet-friendly atmosphere, this complex is in the perfect location, just moments away from popular attractions like the vibrant Main Street food scene, Downtown Grapevine, Grapevine Lake, wineries, and more.
Just minutes from Dallas, Red Oak offers the benefits of a close-knit community, beautiful parks, and excellent schools without sacrificing access to city life. Its charming local spots and friendly atmosphere make it an inviting place to settle down while still being connected to everything the metroplex has to offer.
The Ovilla at Legacy Square
Neighborhood: Red Oak, TX Walk Score: 27 Floor Plans: 1, 2, and 3 bedrooms Square Footage: 619 – 1,212 sq ft Starting Price: $1,383
If you’re looking for a community that feels like home, The Ovilla at Legacy Square is the perfect place for you. Choose from spacious 1-, 2-, or 3-bedroom floor plans, with prices ranging from $1,300 to $2,150. The units feature thoughtfully selected finishes and flexible layouts that truly enhance your living experience. When it comes to amenities, you’ll love the coffee bar for your morning brew, the state-of-the-art fitness center, and the yoga studio to help you unwind. Plus, there’s a resort-inspired pool that’s perfect for relaxing on warm days. And let’s not forget about the fantastic location—you’re just a short distance from shops, restaurants, and entertainment options, making it easy to enjoy everything the area has to offer.
Medical debt can be a heavy burden for individuals and families. And knowing unpaid medical bills could impact your credit can make the worry even worse. In an effort designed to relieve some of the stress on U.S. consumers, the way medical debt is treated by credit bureaus has changed in recent years. The timeline for unpaid health-care bills appearing on your credit reports is longer than it used to be. And some of those debts may not end up affecting your credit at all.
But make no mistake: There still can be consequences if a medical bill goes unpaid for too long.
Read on for a look at when unpaid medical debt can go on your credit reports and some steps you can take to protect and improve your financial health.
Key Points
• Unpaid medical bills can appear on credit reports, but there is a 365-day grace period before they do.
• Medical debts under $500 don’t show up on credit reports.
• Medical collections can stay on credit reports for seven years if unpaid.
• Medical debts paid after they appear on credit reports are removed from the reports, improving credit scores.
• Disputing errors on credit reports can help remove incorrect medical debt information.
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Do Medical Bills Affect Your Credit?
Your medical bills shouldn’t have any effect on your credit, as long as they don’t go unpaid for too long. Most health-care providers don’t report payment activity to the credit bureaus. So unless your account goes unpaid for so long that your provider gives up and sells the debt to a debt collector, it’s unlikely your delinquent account will appear on your credit reports.
Even if the account goes to collections, it can take a year or longer to impact your credit. That’s because the three major credit bureaus (Equifax, Experian, and TransUnion) now give consumers a full 365 days to clear up a medical debt that’s gone to collections before it goes on their credit reports. This year-long grace period allows more time for medical bills to make their way through the insurance approval and payment process, and it gives consumers more time to report billing issues to their provider or the debt collector, negotiate a smaller payment, or set up a payment plan.
More good news: If the initial balance that’s gone to collections is less than $500, the debt won’t ever become part of your credit report, so it won’t affect your credit score.
How Does Medical Debt Impact Your Credit Scores?
Medical bills that you’ve paid shouldn’t appear on your credit reports at all or affect your credit scores — even if you paid the bill after it went to collections. Existing paid medical collections were erased from credit reports in 2022, and the credit bureaus no longer include this information on their reports.
If your bill in collections goes unpaid past the 365-day grace period, however, it could turn up on your credit reports, and possibly have a negative effect on your credit scores. The amount of damage can vary, depending on what scoring model you — or a potential lender — is looking at. But it’s important to note that failing to pay a bill can affect the most significant factor in determining your credit scores — your payment history. So if a medical bill with a starting balance of $500 or more lands on your credit report, you could see a serious dip in your credit scores.
How Long Do Medical Bill Collections Stay on Your Credit Report?
A typical collections account can stay on your credit reports for about seven years, whether or not you eventually pay the debt. But medical accounts are treated differently than other types of debt.
When the credit bureaus are notified that you’ve paid off a medical debt in collections, they’ll remove the account from your credit reports, and you can expect your credit scores to improve.
If you don’t pay the medical debt, however, the collections account could remain on your credit reports for a full seven years after it becomes delinquent.
Can Medical Bills Be Removed from My Credit Report?
If you believe a medical bill in collections is showing up on your credit report by mistake, you can dispute the error with the credit bureau and the debt collector who reported it. After all, it takes time to build credit, and you want to make sure your record represents you accurately.
If your debt has been in collections for less than a year, if the starting balance was less than $500, if the debt has been paid by you or your insurance company, or if you can show that the information is incorrect in some other way, you can take the necessary steps to have it removed from your credit reports.
How to Dispute a Medical Bill on Your Credit Report
To dispute a medical bill on your credit report, the Consumer Financial Protection Bureau (CFPB) recommends starting with the credit bureau that included the account. Explain in writing what you think is wrong and why — and be sure to include documentation that supports your claim. The credit bureaus can then begin an investigation. (The CFPB provides sample letters and addresses for the credit bureaus.)
You should also reach out in writing to the debt collector that furnished the information and ask that it be corrected.
Finally, if your dispute continues to go unresolved, you can submit a complaint to the CFPB.
Recommended: Why Did My Credit Score Drop After a Dispute?
How Can You Check for Medical Debt on Your Credit Reports?
There are a couple of ways you can check your credit report to see if a medical debt is showing up there.
• If you’re paying for credit monitoring, or if your financial institution or credit card company provides a free credit score and summary each month, the information you’re looking for may be available as part of this service. You may even receive an alert if your credit score updates and there’s a significant drop.
• You’re also entitled by federal law to receive free copies of your credit reports from the major credit bureaus at AnnualCreditReport.com.
Don’t panic if a debt collector tells you that your unpaid account will soon affect your credit scores. Remember that you have a year-long grace period to pay the debt or clear up any errors before the account will show up on your credit reports.
Does Paying Off Medical Collections Improve Your Credit?
The best way to keep medical debt from dragging down your credit scores is to make sure your bills are paid on time (by you or your health insurance company). Even if your account goes to collections, paying is still an option — and it can help push your credit scores back up. Though the negative impact of having a collections account on your credit report diminishes with time, if the bill goes unpaid, it could sit on your record — where lenders can see it — for seven years.
Recommended: How to Build Credit
What If You Can’t Pay Your Medical Bills?
Even though it may be tempting, the worst thing you can do if you have medical debt is ignore it. Here are some options to consider if you’re wondering how to pay medical bills you can’t afford.
Ask About a Repayment Plan
Many hospitals and health-care providers will let you set up a payment schedule that allows you to pay over time. Best-case scenario, the option provided is fee- and interest-free. If you’re asked to sign up for a financing plan that will cost extra, make sure the terms work for you and that it’s still manageable within your budget.
Try Negotiating with Your Provider to Lower Your Bill
Sometimes, a health-care provider may be willing to accept a lower amount to avoid writing off the bill and selling the account to a debt buyer. (Even if the account has gone to collections, you may be able to settle for a lower payment. At that point, though, you’ll likely be negotiating with the debt collector, not the original creditor.)
See If You Qualify for Financial Assistance
Grants and other types of financial assistance are sometimes available for patients who are eligible based on their income, age, or other factors. A Google search may turn up some options, or your health-care provider or a support group may be able to pass along information.
Consider an Unsecured Personal Loan
If you can get manageable monthly payments and other terms that fit your needs, you may want to consider taking out a low-interest personal loan. Try to stay away from a loan that’s secured by your home or other assets, which could end up putting your financial well-being at greater risk if you default.
How Can You Keep Your Credit Scores Healthy Despite Challenging Medical Bills?
Small fluctuations in your credit scores are normal, but if you’re worried that an unpaid medical bill could cause a drastic drop, it’s important to keep your financial guard up. Here are some steps you can take to protect your scores:
Keep Paying Your Bills on Time
Your payment history is a big factor in determining your credit score, so do your best to stay on top of all your bills. If making timely payments is a struggle for you, you may find a spending app can help with budgeting, keeping track of billing due dates, and prioritizing payments.
Watch Your Credit Utilization
Lowering your credit card utilization ratio — the percentage of available credit that you’re using on your credit cards and other lines of credit — can help you get and keep your credit scores where you want them. If you’re relying heavily on credit to get by, and you’re close to maxing out your credit cards, you may need to reevaluate your spending and change up your budget. A money tracker app could help you stick to healthy financial habits.
Monitoring Your Credit Scores
Even if you’re on your best behavior, if an unpaid medical bill ends up on your credit report, it may take months before you see some improvement to your damaged credit scores. Credit score monitoring can help you better understand how certain actions can affect your creditworthiness.
The Takeaway
Watching your medical expenses pile up can be stressful — especially if you’re worried that your unpaid medical bills can go on your credit reports and lower your credit scores. Fortunately, the credit bureaus and credit score models have begun treating medical debt with a little more patience and consideration than other types of debt. But an unpaid medical account still can be a problem if you let it go for too long. So it’s important to stay on top of your medical bills, along with all your other financial obligations.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
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FAQ
Can unpaid medical bills affect your credit?
A medical bill will likely only affect your credit if it’s been unpaid for so long that it ends up going to collections. Even then, consumers have a full year to clear up a medical collections account before it goes on their credit reports. But if the bill goes unpaid after that grace period is up, it could affect your credit scores.
How do I remove a medical collection from my credit report?
To have a medical collection removed from your credit report, you can either pay the amount you owe or — if you think it’s in error — you can try disputing the bill with the credit bureau and the debt collector that reported it.
Is it a HIPAA violation to send medical bills to collections?
Not necessarily. The Health Insurance Portability and Accountability Act (HIPAA) has strict standards for how health-care providers and their business associates, including third-party debt collectors, handle sensitive personal health information. Debt collectors can receive and disclose information but only to the extent that it is absolutely necessary to perform their job.
Photo credit: iStock/Pekic SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
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When people think of Memphis, they often picture its lively downtown, filled with music, history, and culture. However, the essence of living in Memphis extends well beyond its urban core. The suburbs of Memphis are diverse residential areas that offer a quieter, more laid-back lifestyle while still providing easy access to the city’s vibrant amenities. These Memphis suburbs are spread across various parts of the metropolitan area, each with its own distinct character and charm.
In this ApartmentGuide article, we’ll explore some of the most notable Memphis suburbs—from serene lakeside retreats to bustling suburban hubs—highlighting key aspects such as population, average rent, and what makes each area unique. Whether you’re searching for the perfect apartment in Memphis or curious about the different Memphis neighborhoods, let’s discover the best places around Memphis to call home.
Cost of living in Memphis
Before we dive into the top Memphis suburbs, let’s cover how much it costs to live in Memphis. The overall cost of living in Memphis is 10% lower than the national average, making it an attractive destination for those seeking affordability. Housing is a significant factor, with the median sale price for a home in Memphis at $174,900, which is 60% lower than the national average of $432,657. Rent follows a similar trend, with the average rent for a one-bedroom apartment in Memphis at $1,170, also lower than the national average of $1,514.
While some suburbs around Memphis offer even more affordable options, others can be more upscale, depending on the neighborhood. Here, we’ll explore a range of top suburbs, providing different lifestyle and housing opportunities depending on your budget and preferences.
1. Germantown
Known for: Upscale living, vibrant community events, and beautifully maintained parks
Germantown is one of the most desirable and affluent suburbs of Memphis, offering a high standard of living and a strong community-oriented atmosphere. This suburb is known for its elegant homes, tree-lined streets, and lush green spaces. Germantown boasts several top-notch parks, including the scenic Cameron Brown Park and Germantown Greenway, perfect for outdoor enthusiasts. Residents enjoy numerous cultural and community events such as the Germantown Festival and outdoor concerts at the Germantown Performing Arts Center.
Germantown’s high-end shopping centers and fine dining options are also major draws, making it a popular spot for those seeking a mix of luxury and convenience. The suburb offers a range of home options, from expansive estates to modern townhomes, appealing to those looking for a premium lifestyle.
Population: 41,000 Average rent for a one-bedroom apartment: $1,805 Median home sale price: $497,250 Transportation scores: Walk Score 16, Bike Score 31
Apartments for rent in Germantown, TN | Houses for rent in Germantown, TN | Homes for sale in Germantown, TN
2. Collierville
Known for: Historic charm, thriving economy, and a picturesque town square
Collierville blends small-town charm with suburban amenities, making it one of the most sought-after suburbs in the Memphis area. Located to the southeast of the city, Collierville’s historic downtown square is a focal point, with local shops, restaurants, and cafes that capture the town’s warm and welcoming vibe. The town square hosts events like the popular weekly farmers’ market, art festivals, and outdoor concerts, creating a vibrant community feel.
In addition to its historic character, Collierville has a thriving economy and is home to many corporate headquarters, which continues to attract new residents. The suburb offers a mix of historic homes near the town square and newer, expansive developments on its outskirts. The proximity to both the urban attractions of Memphis and the tranquility of rural Tennessee gives Collierville a unique balance that residents enjoy.
Population: 51,000 Average rent for a one-bedroom apartment: $1,550 Median home sale price: $555,000 Transportation scores: Walk Score 12, Bike Score 30
Apartments for rent in Collierville, TN | Houses for rent in Collierville, TN | Homes for sale in Collierville, TN
3. Arlington
Known for: Small-town charm, affordable housing, and a strong community spirit
Arlington, located northeast of Memphis, offers a peaceful, suburban feel with a growing sense of community. This small town has maintained its rural charm while embracing growth, providing affordable housing and opportunities for new residents. Arlington is popular among those who want a slower pace of life while still having access to nearby urban areas for work or leisure.
The community spirit is strong, with residents regularly participating in local events like the annual BBQ festival, movie nights at the park, and sports leagues. Arlington also has several parks and recreational areas, making it an ideal suburb for those who love outdoor activities. Housing here ranges from quaint single-family homes to newly built developments, offering a wide variety of options for different lifestyles.
Population: 14,000 Median home sale price: $462,750 Transportation scores: Walk Score 55, Bike Score 39
Apartments for rent in Arlington, TN | Houses for rent in Arlington, TN | Homes for sale in Arlington, TN
4. Lakeland
Known for: Lakeside living, new developments, and a serene suburban lifestyle
Lakeland offers the perfect blend of suburban comfort and natural beauty, with its numerous lakes and outdoor spaces that provide residents with plenty of recreational opportunities. Located just east of Arlington, Lakeland has quickly become a popular choice for those seeking a tranquil lifestyle. Residents enjoy fishing, boating, and hiking in the area’s many parks, with Garner Lake being a particularly notable spot for outdoor fun.
In recent years, Lakeland has seen significant residential growth, with new housing developments offering modern homes in planned communities. Despite its growth, the suburb has maintained its peaceful and laid-back vibe, making it ideal for those looking to escape the hustle and bustle of city life. Lakeland’s combination of suburban living and lakeside tranquility has made it one of the Memphis area’s hidden gems.
Population: 13,000 Average rent for a one-bedroom apartment: $1,238 Median home sale price: $412,500 Transportation scores: Walk Score 18, Bike Score 26
Apartments for rent in Lakeland, TN | Houses for rent in Lakeland, TN | Homes for sale in Lakeland, TN
5. Millington
Known for: Military presence, affordability, and proximity to Memphis
Millington, located north of Memphis, is home to the Naval Support Activity Mid-South, which has helped shape its identity as a military town. The presence of the naval base brings in a diverse group of residents, creating a sense of community and pride in the town. Millington is known for its affordability compared to other Memphis suburbs, making it an attractive option for those looking for lower housing costs while still enjoying proximity to the city.
Millington is also home to several parks, local shops, and a growing retail scene. With a laid-back atmosphere and plenty of local amenities, Millington provides a comfortable, suburban lifestyle without the higher price tag seen in other areas. The town’s affordability and convenient location have made it increasingly popular with those looking to stay close to Memphis.
Population: 11,000 Average rent for a one-bedroom apartment: $1,179 Median home sale price: $269,000 Transportation scores: Walk Score 74, Bike Score 47
Apartments for rent in Millington, TN | Houses for rent in Millington, TN | Homes for sale in Millington, TN
6. Bartlett
Known for: Suburban convenience, spacious homes, and community-oriented living
Bartlett, one of the larger suburbs near Memphis, is known for its wide range of housing options, from established neighborhoods to newer developments. The suburb is a great place for those seeking suburban living with easy access to Memphis, as it offers spacious homes and a variety of amenities. Bartlett has a number of well-maintained parks, shopping centers, and schools that make it convenient for residents to live, work, and play all within the area.
Bartlett’s peaceful streets and tree-lined neighborhoods provide a laid-back, suburban atmosphere. The suburb is also home to a number of community events, such as summer festivals, holiday parades, and local sports leagues, which bring neighbors together. Bartlett’s combination of convenience and community makes it one of the top choices for those looking to live near Memphis.
Population: 58,000 Average rent for a one-bedroom apartment: $1,683 Median home sale price: $325,000 Transportation scores: Walk Score 15, Bike Score 33
Apartments for rent in Bartlett, TN | Houses for rent in Bartlett, TN | Homes for sale in Bartlett, TN
7. Cordova
Known for: Shopping, outdoor recreation, and suburban accessibility
Cordova is a bustling suburb located just east of Memphis, known for its accessibility to both retail and nature. The suburb is home to some of the best shopping areas around Memphis, including Wolfchase Galleria and a variety of other major retailers and restaurants. Cordova is ideal for those who enjoy the convenience of suburban life but want easy access to city amenities and outdoor activities.
Outdoor enthusiasts can enjoy nearby Shelby Farms Park, one of the largest urban parks in the country, offering activities like hiking, biking, paddleboarding, and more. Cordova’s housing market is diverse, with everything from affordable apartment complexes to large single-family homes, making it a popular choice for a range of lifestyles.
Population: 75,000 Average rent for a one-bedroom apartment: $1,150 Median home sale price: $295,000 Transportation scores: Walk Score 7, Bike Score 27
Apartments for rent in Cordova, TN | Houses for rent in Cordova, TN | Homes for sale in Cordova, TN
8. Olive Branch, MS
Known for: Affordable living, suburban growth, and proximity to Memphis
Located just across the state line in Mississippi, Olive Branch has become one of the fastest-growing suburbs of Memphis. The suburb is popular for its lower cost of living compared to other nearby areas, while still offering modern residential developments and amenities. Olive Branch is ideal for those looking for affordable housing and suburban conveniences without sacrificing proximity to Memphis.
The town features a variety of local parks, shopping centers, and schools, creating a welcoming atmosphere with a relaxed suburban vibe. Olive Branch continues to grow with new residential communities, making it an attractive option for those looking to settle in the Memphis metro area.
Population: 39,000 Average rent for a one-bedroom apartment: $1,643 Median home sale price: $317,400 Transportation scores: Walk Score 14, Bike Score 27
Apartments for rent in Olive Branch, MS | Houses for rent in Olive Branch, MS | Homes for sale in Olive Branch, MS
Methodology: The suburbs included in this list were selected based on their overall popularity, determined by search trends and housing demand in the Memphis area. Average rent and home sale price data were sourced from Redfin and Rent.com as of October 2024. Transportation data, including Walk Scores, Bike Scores, and Transit Scores, was sourced from Walk Score.