Renters at the lower end of the spectrum see no relief in sight as rent hikes remain stubbornly high.
While rent hikes are starting to ease for many renters and home prices dropped by 0.2 percent in February, the lowest-priced rentals are seeing the highest rent increases, reports Kristin Schwab for Marketplace.
As Schwab explains, “Price growth is slowing for renters overall — it’s at around 6%, about half what it was a year ago. Meanwhile, it’s stuck at 8.5% for lower-priced renters.” Economist Molly Boesel attributes this in part to the higher demand for housing in this tier. Additionally, restrictive zoning laws, parking requirements, labor shortages, and high material costs all contribute to higher building costs, keeping developers “focused on more expensive homes.”
FULL STORY: Rent hikes are finally easing — except for renters who can afford it the least
Rents Rose Between December and January
After dropping to a three-year low, U.S. rent costs grew in many major cities.
Report: DC Needs ‘Immense’ Funding Increase to Address Housing Crisis
Close to 60,000 District households can’t afford their housing costs, according to research from the Urban Institute.
Report: Las Vegas, Houston Top List of Least Affordable Cities
The report assesses the availability of affordable rental units for low-income households.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
The state-sanctioned urbicide of Austin
People don’t kill cities. Freeways do.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
Airbnb launches $250 million 'last-dollar financing' housing accelerator, makes first investment in Austin
The company will put $6.4 million towards affordable housing development in Texas’ capital.
Guerilla urbanists are building DIY bus stop benches in Chicago
A before-and-after of one of the bus stops with a new bench. The new benches are not officially sanctioned or permitted, but the residents who placed them hope they will be the start of a network of DIY benches across the city.
Mamdani overhauls NYC's Vision Zero plan with 100 new policy goals
The overhaul aims to reduce traffic deaths and make streets safer for pedestrians, cyclists and drivers through lower speed limits, new safety infrastructure and more.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association