According to the latest census, the San Jose metro area in northern California, where gross median rents cost $1,414, is the most expensive rental market in the country. San Francisco came in second, followed by the Washington, D.C., area. Crainsnewyork.com has determined that NY-area rents are not as high as one might think, with NY coming in as the sixth most expensive rental housing market in the U.S.
Posts Tagged 'San Jose'
Tags: D.C., San Francisco, San Jose, Washington
Tags: America's Richest City, Boston, Chicago, Detroit, Houston, Los Angeles, Metro Wealth Index, millionaires, New York, Philadelphia, San Francisco, San Jose, Washington, wealth
Luxist.com has named NYC as America’s Richest City. According to the new Metro Wealth Index, New York has a record 667,000 high-net worth individuals, or people with $1 million or more in investible assets, recorded as living there in 2009. Rounding out the top 3 are Los Angeles and Chicago. Here are the tallies of millionaires for the top 10, along with the percentage growth from the Wall Street Journal:
New York – 667,200, +18.7%
Los Angeles – 235,800, +13.3%
Chicago – 198,100, +15.1%
Washington, D.C. – 152,400 +19.3%
San Francisco – 138,300 +14.5%
Philadelphia – 104,100, +20.1%
Boston – 102,300, + 14.4%
Detroit – 89,100, +12.1%
Houston –- 88,200, +28.9%
San Jose — 86,500, +24.5%
Tags: Best Cities, Birmingham, Madison, Men's Health, San Jose, Seattle, Worst Cities
Men’s Health has released their list of The Best and Worst Cities for Men 2010. The list features 100 cities and was based on 35 criterias such as air quality, employment, life expectancy, death rate and commute times. The top city of the 2010 list is Seattle, WA which was ranked as one of the most literate and educated cities in America. Madison, WI and San Jose, CA round out the top three cities. The worst city on the list was Birmingham, AL.
Tags: California, corporate apartments, Corporate Housing, hotel, Las Vegas, Maryland, New York, Orange County, relocation, rent, San Jose, Temporary Housing, Washington D.C.
For months, U.S. vacancy rates have been increasingly high across the board. In July 2009, apartment vacancy rates hit a 22-year high during what is usually the peak season for leasing. Although it was expected that those unable to afford homes would turn to renting, the overwhelming amount of job losses led to high vacancy rates. The positive aspect for those in the market to rent is that rents are falling faster than they have in over a decade. The most drastic fall in rental rates has affected the markets of New York, San Jose, Las Vegas, and Orange County California. While some markets, where unemployment rates are not as high, have seen a small growth in renting rates, such as in suburban Maryland and in Washington, D.C.
So what does this rental environment mean for corporate housing? While the corporate housing industry cannot completely escape the weak economy, corporate housing occupancy has generally remained high because providers can remove and add units according to demand. Also, temporary housing is more appealing to consumers during times of economic distress. Unlike most average apartment rentals that require a year lease, most corporate housing providers only require a 30-night minimum, which is easier for customers to grasp financially. Also, many relocating employees are coming into the market with a far different idea of renting and leasing than your average renter. These renters/employees have corporate jobs and salaries that can pay the rent. Also, no matter what the economic environment, corporate housing remains a strong alternative to simple and unfriendly hotel rooms.
Read one of The Wall Street Journal’s full article’s on the rental market.