Madison Ventures+ Managing Director Mitch Roschelle joins Varney & Co. to analyze the real estate market as the average 30-year fixed mortgage rate hits 7.22%.
The Sunshine State is home to the city that just won the title of best place to live in the United States.
The development comes as U.S. News & World Report on Tuesday identified Naples, located on Florida’s Gulf of Mexico, as the top city to reside in its “2024-2025 Best Places to Live” report.
Strong results in the job market and quality of life categories helped Naples achieve the feat and beat 149 other major U.S. cities that also made the list, the outlet said. In last year’s rankings, Naples was No. 6.
Beachfront homes near the Naples Pier in Naples, Fla., Tuesday, Feb. 13, 2024. Florida’s southwest coast, long one of the fastest growing regions in America, is losing some of its boomtown air as a home insurance crisis and other soaring costs… (Photographer: Lisette Morales McCabe/Bloomberg via Getty Images / Getty Images)
There have been some changes to the way U.S. News & World Report created its “Best Places to Live” list from previous years, leading to some shake-ups.
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The outlet said it began looking at “city-based data” instead of “metro area-based data.” Value and labor market measures, two of the four main categories used for its analysis, were also given more weight.
Value, labor market and quality of life indicators played an important role in Idaho’s capital, Boise, which ranked second for 2024-2025, according to U.S. News & World Report.
View of downtown Boise and the Idaho Capitol on a beautiful fall morning, seen from Capitol Blvd, Boise, Idaho, USA (iStock/iStock)
Colorado Springs, Colo.; Greenville, South Carolina; and Charlotte, North Carolina, were also among the report’s top five ranked cities, according to the report.
In sixth place is Raleigh, North Carolina, the outlet said.
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Huntsville, Alabama’s largest city, ranked 7th best place to live. U.S. News and World Report also found it to be the second most affordable of the cities surveyed.
Huntsville, Alabama, USA downtown park and cityscape at dusk. (iStock/iStock)
The outlet places Virginia Beach, Virginia, and Austin, Texas, in eighth and ninth place, respectively. The latter city, which performs well in terms of attractiveness and the labor market, previously occupied first place from 2017 to 2019.
While the South was largely present in the top 10, the state of Colorado had a second city that rounded out the portion of the ranking: Boulder, according to the report.
BOULDER, CO – 2009: Downtown and surrounding neighborhoods are visible in this early morning spring landscape photo of Boulder, Colorado in 2009. (Photo by George Rose/Getty Images)
(George Rose/Getty Images / Getty Images)
“Growing concerns about career prospects, housing affordability and the rising cost of goods and services are reflected in this year’s rankings. While quality of life remains the top priority for many Americans, the value of a city and the job market are becoming increasingly important to those seeking employment. place to live,” Erika Giovanetti, a loan expert and reporter for U.S. News & World Report, said in a statement.
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The Bureau of Labor Statistics recently reported that the United States as a whole had an unemployment rate of 3.9% in April.
Meanwhile, Americans faced a median monthly housing payment of $2,894 for the four weeks ending May 5, according to Redfin. This is an “all-time record,” the company said.
News Source : www.foxbusiness.com
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