The typical home that was impacted had a value of $3.7 million prior to the fires. $51.7 billion worth of homes in the city of Los Angeles—or roughly 11,000 residential properties—were impacted by the wildfires in January. This is according to a Redfin analysis of data from the Los Angeles City Council. The council shared
The number of homes on the market in the Sunshine State rose 23% year over year to a record high in January amid a decrease in homebuying, an influx of newly built homes for sale, intensifying natural disasters, and surging insurance costs and HOA fees. Florida ended January with 172,209 homes for sale—the highest inventory
That’s down from a peak of 125 hours when rents hit a record high in 2022. New Hampshire’s minimum-wage workers have to toil longest to afford the median-priced apartment, while South Dakota’s workers fall on the other end of the spectrum. The average minimum-wage earner in the U.S. would have to work 106 hours per
A renter on a $2,000-a-month budget can afford an 1,103-square-foot apartment, up from 1,029 square feet when rents peaked in 2022. Renters are getting more bang for their buck thanks to the recent apartment construction boom, which has led to asking rents stabilizing below their pandemic peak. In Memphis, $2,000 is enough for a 1,570-square-foot
HOA dues are up more than 15% from a year ago in Tampa, Orlando and Fort Lauderdale, compared with a median gain of 6% across the 43 metros Redfin analyzed. The Sunshine State is seeing HOA fees jump due to skyrocketing insurance costs and new safety requirements in the wake of the Surfside condo collapse.