- New Housing Additions in San Francisco Drop by 67% Over the Last Few Years – 2023 Study
San Francisco and surrounding neighborhoods have some of the most expensive home prices in the country. Prices peaked at an average $1.48 million in May 2022, according to Zillow. As of October 2023, home prices have come down roughly 15% to $1.254 million. Many factors can play a role in such dramatic shifts in home… read more…
- States With the Most EV Fast Chargers – 2023 Study
Many states are adopting laws that will phase out gas vehicles in the coming years. To accommodate this, states and private companies alike are looking to refresh infrastructure to provide charging capabilities for electric vehicles. Similarly, the federal government and many states are offering tax credits for EV purchases to encourage the shift to clean… read more…
- Gas Prices Decline Nearly 20% in Some States, Stay High in Others – 2023 Study
Gas prices have been on the decline since their all-time high in summer 2022. While the average last summer across the U.S. hit a record $5.00 per gallon, the current average has come down to $3.27 per gallon. But in some states, high prices have been more stubborn than in others. Demand, state legislation, transport… read more…
- Where Gen Z Is Moving – 2023 Study
Gen Z is young, with many still under age 18. For those 18-24, many are moving for college, to start their career or to explore life in a new place. While this cohort may not have the disposable income of their older counterparts, their movement still plays an important role in local economies. An asymmetrical… read more…
- Where Baby Boomers Are Moving – 2023 Study
While many baby boomers have now entered retirement, many more remain in the workforce with retirement upcoming. As this generation transitions into retired life, many may choose to move to a city more suitable for their new cash flows and routines. Some places may offer better tax advantages, lower cost of living, proximity to family,… read more…
- Where Gen X Is Moving – 2023 Study
As Gen X prepares to send kids to college and inches closer to retirement, this age group has had time to see compound interest grow their investments while advancing their careers. This means an individual Gen Xer may have an outsized impact on local economies than their younger cohorts, despite generally being less mobile. Keeping… read more…
- Where Millennials Are Moving – 2023 Study
One in four millennials moved to a different city in 2022. Whether they come from within the same county, state, out-of-state or abroad, these migrations can impact local small businesses, housing markets and social dynamics. With this in mind, SmartAsset set out to determine where millennials are moving to most. Millennials were defined as people… read more…
- Cities Where Population Has Decreased the Most – 2023 Study
When a city’s population declines – whether birth rates go down, deaths increase, or people simply move to another area – it can affect the housing market, small businesses, employment and other factors. Paying attention to demographic changes can help residents, governments and businesses understand new trends and inform how to best position themselves. With… read more…
- Cities Where Housing Vacancy Rates Are Highest – 2023 Study
For five years up until 2022, the housing vacancy rate in the largest U.S. cities fell from 9.3% to 7.3%. During that same period, the median sale price of a home in the U.S. jumped from $322,425 to $457,475, according to the Federal Reserve Bank of St. Louis. Vacancy rates may indicate an inefficient use… read more…
- Cities Where Population Grew the Most Over Five Years – 2023 Study
This story was last updated November 3, 2023. Population growth can have a ripple effect throughout a local economy. As people move into an area and families grow, demand on housing, local businesses and infrastructure can be unexpectedly impacted. Examining shifts in populations and their dynamics can help residents understand the greater economic picture and… read more…
- Where Income Increased Most Year Over Year – 2023 Study
When income goes up, it can lessen the burden of inflation and even outpace it. The Consumer Price Index, which measures the average change in prices over time, jumped roughly 13.5% in 24 months from 2021 to 2022. But the median income across major U.S. cities over the same time period only went up 8.1%,… read more…
- Where People Have the Most Graduate Degrees – 2023 Study
Despite the rising cost of higher education, a larger percentage of Americans are earning advanced degrees when compared with previous years. In fact, Census Bureau data indicates that the number of adults with a master’s degree jumped by more than 50% between 2011 and 2021. With these figures in mind, SmartAsset set out to identify… read more…
- How Cost of Living in Each State Compares to European Countries – 2023 Study
While the Euro has long been more valuable than the American dollar, the cost of living in the United States is significantly higher than across Europe on average. Basic expenses for a single adult with no children in the U.S. is $2,508, compared to an average $1,746 per month in Europe. However, individual states and… read more…
- STEM Cities: Where Science and Engineering Is Most Popular – 2023 Study
As the fields of science, technology, engineering and mathematics (STEM) continue to grow, more and more undergraduate college students are focusing on these areas of study. According to data from the National Center for Education Statistics, 42% more STEM degrees were conferred in 2020-21 than 10 years earlier. With this in mind, SmartAsset examined Census… read more…
- Where Real Estate Taxes Are Highest – 2023 Study
Whether an individual or family is just starting out as a first-time homebuyer, or retirees are paying off their retirement home, real estate taxes will be a required ongoing housing cost. This money is used to cover municipal costs, local infrastructure and other amenities. Local tax abatements and homestead exemptions may help homeowners with some… read more…
- Number of People Living Alone Surges Across U.S. Cities – 2023 Study
When family and social dynamics change, it affects more than just culture. Business, government and society as a whole cater specifically to the needs and values of American households. Family values and attributes may also influence birth rate and population growth trends. Ultimately, emerging trends within American households live far beyond the four walls of… read more…
- Best Community Colleges for 2023
After community college enrollments plummeted during the Covid-19 pandemic, attendance at two-year public colleges started to rebound in spring 2023. Enrollments ticked up 0.5%, according to the National Student Clearinghouse Research Center, marking the first time in years that community colleges saw even modest growth. To find the best community colleges in the country, SmartAsset… read more…
- 2024 Housing Market Projections: Where Prices Could Grow Most
Amid interest rate volatility over the last few years, the housing market “locked in” some homeowners with historically low rates, while pricing out others. Even though no one can predict the future, it is possible to forecast the trajectories of housing markets at the local level using relevant data. Such models can help inform potential… read more…
- Where a Graduate Degree Adds Most to Your Wallet
Depending on the school, area of study and other factors, a graduate degree could cost anywhere between $30,000 and $120,000, according to the Education Data Initiative. And that’s after the cost of a bachelor’s. Amid the high expenses of education and ever-changing job markets, it’s important to weigh the opportunity costs of a graduate degree… read more…
- Income Rose by up to 30% in Some U.S. Cities – 2023 Study
To see where income increased most, SmartAsset examined Census Bureau data for 124 of the largest cities in the country and ranked them by the size of income changes.
- Best Housing Markets for First-Time Homebuyers – 2023 Study
A home purchase can serve as a building block for the homeowner’s financial life – and the circumstances of the local market can make or break the deal. First time homebuyers may look for a less competitive market to have a better chance of getting a realistic offer accepted. They also need affordability, to position… read more…
- What a Second or Third Child Costs Parents Across the U.S. – 2023 Study
It can cost up to $35,000 annually to raise a single child in the most expensive places. Even on average, the first child costs parents more than $20,000 annually during their early years. These costs can get substantially higher for parents who want to have a second or third child. To measure the baseline costs… read more…
- Where High Earners Are Moving – 2023 Study
Despite cost of living challenges, the number of high-earning American households continues to grow. In 2021, 8.68 million tax returns indicated annual earnings exceeding $200,000 – up from 8.57 million returns just a year earlier. The migration of these high-earning households can have significant effects on a state’s tax base and finances. SmartAsset set out… read more…
- Wall Street Texas: A NYC-Austin Move Can Save High Earners 40% or More
Thanks to no state income tax and a cost of living that’s practically on par with the national average, high earners from more expensive cities like New York City, San Francisco and Chicago can maximize their income by relocating to the Texas state capital. To determine how much you can save by moving to Austin,… read more…
- Where Home Prices Are Falling Most – 2023 Study
Larger housing trends in the U.S. as a whole don’t necessarily inform hopeful homebuyers or current homesellers about their markets. Some locales offer the advantage – or disadvantage – of bucking nationwide trends. For example, while home prices increased by at least 20% over the last year in some places, they also decreased substantially in… read more…