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Realtor.com® November Rental Report: Even with Rent Declines, Minimum Wage Earners Need Extended Hours to Afford Rents

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To afford the median rent, two minimum wage earners would have to each work 82 hours per week in Nashville, Tenn., 79 hours in Austin, Texas and 77 hours in Dallas, three metros that saw the largest decline in rent prices

SANTA CLARA, Calif., Dec. 16, 2024 /PRNewswire/ — Rents declined in November, falling by -1.1% year over year to a median of $1,703, according to the Realtor.com® November Rental Report released today. Despite the dip in rents, affordability remains a concern, with minimum wage earners requiring extended working hours to afford a typical rental unit in 44 of the top 50 metros in the United States.

“Lower rents, combined with stable or increased minimum wages, have offered a break to renters in some metro areas this year, though many minimum wage earners still struggle to find affordable rents,” said Danielle Hale, chief economist at Realtor.com®. “With minimum wages set to increase in more than half of the top 50 markets next year, and a projected 0.1% annual decline in median asking rents in 2025, we expect some further relief in the coming year; however, more new construction is still one of the biggest levers we have to help with affordability.”

To better understand the hurdles faced by hourly workers in today’s rental market, this month, Realtor.com® analyzed how many hours per week a renter would need to work at local minimum wage rates to afford a typical 0-2 bedroom home. Among the top 10 markets with the largest year-over-year rent declines in November, fewer working hours were required to afford the median rent compared to the same time last year. Yet only in Denver and Phoenix could two minimum wage earners each work 40 hours or less per week and affordably split the median rent for a 0-2 bedroom unit.

Market

Median 
Asking
Rent,

Nov. 2024 

Y/Y Change 

Annual HH
Income Needed 
to Afford a 0-2
Bedroom, Nov
2024

Minimum 
Wage 2024 

Work Hours 
per Renter per 
Week at
Minimum
Wage, Nov.
2024

Diff. in Hours 
(Nov. 2024 vs. 
2023)

Denver-Aurora-Lakewood, CO

$1,808

-6.7 %

$72,320

$18.29

38

-5

Memphis, TN-MS-AR

$1,186

-6.2 %

$47,440

$7.25

63

-4

Nashville-Davidson–Murfreesboro–
Franklin, TN

$1,542

-5.6 %

$61,680

$7.25

82

-5

Austin-Round Rock-Georgetown, TX

$1,486

-4.7 %

$59,440

$7.25

79

-4

San Francisco-Oakland-Berkeley, CA

$2,711

-4.5 %

$108,440

$16.00

65

-5

Dallas-Fort Worth-Arlington, TX

$1,453

-4.4 %

$58,120

$7.25

77

-4

San Diego-Chula Vista-Carlsbad, CA

$2,726

-4.3 %

$109,040

$16.85

62

-5

Phoenix-Mesa-Chandler, AZ

$1,503

-4.1 %

$60,120

$14.35

40

-4

Birmingham-Hoover, AL

$1,236

-3.6 %

$49,440

$7.25

66

-2

San Antonio-New Braunfels, TX

$1,242

-3.5 %

$49,680

$7.25

66

-2

Minimum wage earners need to work extended hours to afford rents
To keep their half of the rent at an affordable 30% of their budgets, two minimum wage earners would have to each work 82 hours per week in Nashville, Tenn., 79 hours in Austin,Texas and 77 hours in Dallas, despite large year-over-year rent declines. The affordability crunch is worst in markets that are subject to the federal minimum wage of $7.25 per hour. But in San Francisco, where the minimum wage is $16, and San Diego, where it’s $16.85, workers would still need to work 65 and 62 hours per week respectively to afford the median rent. By contrast, in Denver and Phoenix, two minimum wage earners would each need to work 38 and 40 hours per week respectively to afford the median rent.

Higher minimum wages and falling rents point to continued relief in 2025
Minimum wages will rise in 23 of the top 50 markets on Jan. 1, 2025, while additional markets will see increases later in 2025. If rents hold steady, eight of those markets are expected to see at least a two-hour reduction in weekly working hours at minimum wage needed to afford rent. In both St. Louis and Kansas City, Mo., where the minimum wage is due to rise to $13.75 per hour from $12.30, two workers earning that wage will each need to work four hours less per week to afford the median rent. Minimum wage earners will need to work two hours less in six markets: Sacramento, Calif., Virginia Beach, Va., Riverside, Calif., San Francisco, New York, and San Jose, Calif.

Rents decline across all unit sizes
Rents for 0-2 bedroom units fell on a year-over-year basis for the 16th straight month in November, dropping by $19 (-1.1%) to $1,703. That’s $17 less than last month and $57 lower than its August 2022 peak. It’s still $261 (18.1%) higher than the same period in 2019, before the pandemic.

Units of all sizes saw rents fall in November, with smaller units continuing to show larger declines. The median rent for studios fell -1.6% year-over-year, to $1,423. That’s down -4.5% from its peak in October 2022 but 12% higher than five years ago. Rent for one-bedroom units dipped -1.2% to $1,585, representing a -4.4% decline from its August 2022 peak but still 16.4% higher than five years ago. And the median rent for two-bedroom units declined by -1.1% to $1,886, a drop of -3.8% from its August 2022 peak. That’s 20.2% higher than five years ago.

Despite sixteen months of declines, the U.S. median rent was just $57 (-3.2%) less than the peak seen in August 2022. Notably, it was still $261 (18.1%) higher than the same time in 2019 (pre-pandemic), but this increase is roughly on par with what has occurred in overall consumer prices (up 22.7% in the five years ending November 2024) and pales in comparison to the 49.7% increase in median price-per-square-foot of for-sale home listings in the five years ending November 2024.

National Rental Data – November 2024

Unit Size 

Median Rent 

Rent YoY 

Rent Change – 5 years 

Overall

$1,703

-1.1 %

18.1 %

Studio

$1,423

-1.6 %

12.0 %

1-bed

$1,585

-1.2 %

16.4 %

2-bed

$1,886

-1.1 %

20.2 %

50 Largest Metropolitan Areas – November 2024

Metro

Median 
Asking Rent 

YOY Change 

Minimum Wage 2024 

2024 Work Hours per Renter 
per Week at Minimum Wage

Atlanta-Sandy Springs-
Alpharetta, GA

$1,576

-3.1 %

$7.25

84

Austin-Round Rock-
Georgetown, TX

$1,486

-4.7 %

$7.25

79

Baltimore-Columbia-
Towson, MD

$1,812

-0.2 %

$15.00

46

Birmingham-Hoover, AL

$1,236

-3.6 %

$7.25

66

Boston-Cambridge-Newton,
MA-NH

$2,942

-1.0 %

$15.00

75

Buffalo-Cheektowaga, NY

NA

NA

NA

NA

Charlotte-Concord-
Gastonia, NC-SC

$1,519

-2.7 %

$7.25

81

Chicago-Naperville-Elgin,
IL-IN-WI

$1,793

-2.7 %

$16.20

43

Cincinnati, OH-KY-IN

$1,365

2.6 %

$10.45

50

Cleveland-Elyria, OH

$1,193

-3.0 %

$10.45

44

Columbus, OH

$1,190

0.2 %

$10.45

44

Dallas-Fort Worth-Arlington,
TX

$1,453

-4.4 %

$7.25

77

Denver-Aurora-Lakewood,
CO

$1,808

-6.7 %

$18.29

38

Detroit-Warren-Dearborn,
MI

$1,316

-0.8 %

$10.33

49

Hartford-East Hartford-
Middletown, CT

NA

NA

NA

NA

Houston-The Woodlands-
Sugar Land, TX

$1,375

-1.4 %

$7.25

73

Indianapolis-Carmel-
Anderson, IN

$1,288

-0.8 %

$7.25

68

Jacksonville, FL

$1,523

-1.1 %

$13.00

45

Kansas City, MO-KS

$1,342

1.1 %

$12.30

42

Las Vegas-Henderson-
Paradise, NV

$1,479

-0.8 %

$12.00

47

Los Angeles-Long Beach-
Anaheim, CA

$2,789

-1.4 %

$17.28

62

Louisville/Jefferson County,
KY-IN

$1,245

0.6 %

$7.25

66

Memphis, TN-MS-AR

$1,186

-6.2 %

$7.25

63

Miami-Fort Lauderdale-
Pompano Beach, FL

$2,353

-1.1 %

$13.00

70

Milwaukee-Waukesha, WI

$1,613

-0.2 %

$7.25

86

Minneapolis-St. Paul-
Bloomington, MN-WI

$1,516

0.1 %

$15.57

37

Nashville-Davidson–
Murfreesboro–Franklin, TN

$1,542

-5.6 %

$7.25

82

New Orleans-Metairie, LA

NA

NA

NA

NA

New York-Newark-Jersey
City, NY-NJ-PA

$2,905

2.0 %

$16.00

70

Oklahoma City, OK

$1,023

1.6 %

$7.25

54

Orlando-Kissimmee-
Sanford, FL

$1,680

-0.9 %

$13.00

50

Philadelphia-Camden-
Wilmington, PA-NJ-DE-MD

$1,761

-1.1 %

$7.25

93

Phoenix-Mesa-Chandler,
AZ

$1,503

-4.1 %

$14.35

40

Pittsburgh, PA

$1,440

-0.9 %

$7.25

76

Portland-Vancouver-
Hillsboro, OR-WA

$1,687

1.6 %

$15.00

43

Providence-Warwick,
RI-MA

NA

NA

NA

NA

Raleigh-Cary, NC

$1,512

-1.4 %

$7.25

80

Richmond, VA

$1,478

-1.3 %

$12.00

47

Riverside-San Bernardino-
Ontario, CA

NA

NA

NA

NA

Rochester, NY

$1,319

4.3 %

$15.00

34

Sacramento-Roseville-
Folsom, CA

$1,902

1.7 %

$16.00

46

San Antonio-New Braunfels,
TX

$1,242

-3.5 %

$7.25

66

San Diego-Chula Vista-
Carlsbad, CA

$2,726

-4.3 %

$16.85

62

San Francisco-Oakland-
Berkeley, CA

$2,711

-4.5 %

$16.00

65

San Jose-Sunnyvale-Santa
Clara, CA

$3,314

2.6 %

$17.55

73

Seattle-Tacoma-Bellevue,
WA

$1,971

-2.3 %

$19.97

38

St. Louis, MO-IL

$1,323

1.1 %

$12.30

41

Tampa-St. Petersburg-
Clearwater, FL

$1,713

-1.7 %

$13.00

51

Virginia Beach-Norfolk-
Newport News, VA-NC

$1,500

-0.6 %

$12.00

48

Washington-Arlington-
Alexandria, DC-VA-MD-WV

$2,255

2.0 %

$17.50

50

Methodology
Rental data as of November 2024 for studio, 1-bedroom, or 2-bedroom units advertised as for-rent on Realtor.com®. Rental units include apartments as well as private rentals (condos, townhomes, single-family homes). We use rental sources that reliably report data each month within the top 50 largest metropolitan areas. Realtor.com began publishing regular monthly rental trends reports in October 2020 with data history stretching back to March 2019.

To determine the minimum wage at the metro level, we use the minimum wage of the principal city as a representative figure for the metro area. If the principal city does not have a local minimum wage policy, the state-level minimum wage is applied. In cases where the state does not have a minimum wage regulation, the Federal minimum wage of $7.25 per hour is used. Minimum wage data is sourced from ADP.

About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.

Media Contact: Mallory Micetich, press@realtor.com 

View original content:https://www.prnewswire.com/news-releases/realtorcom-november-rental-report-even-with-rent-declines-minimum-wage-earners-need-extended-hours-to-afford-rents-302332033.html

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HelloNation Examines Medicare Advantage & Medigap Coverage Differences, Featuring Financial Advisor Ash Toumayants

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The article reviews provider access, prescription coverage, and out-of-pocket expenses when comparing Medicare Advantage and Medigap plans.

STATE COLLEGE, Pa., July 24, 2026 /PRNewswire/ — How should residents evaluate whether Medicare Advantage or Medigap coverage better fits their healthcare and financial needs? HelloNation answers this question in an article that explains the key considerations involved in choosing between Medicare Advantage and Medigap plans.

The HelloNation article features insights from Financial Advisor Ash Toumayants of Strong Tower Associates. The article explains that both Medicare Advantage and Medigap supplement Original Medicare but differ significantly in how they handle healthcare providers, prescription coverage, and overall out-of-pocket expenses.

Medicare Advantage plans are typically offered through private insurers and bundles Medicare Part A, Part B, and possibly prescription coverage into a single policy. However, Medicare Advantage plans generally operate with provider networks, meaning healthcare providers must often be selected from within the plan’s approved list.

For residents across Pennsylvania, provider access can play an important role in selecting the right plan. The article explains that individuals should review which healthcare providers are included in a Medicare Advantage network before enrolling. Plan networks may vary by county in Pennsylvania, so residents should confirm that their preferred doctors and specialists are covered.

Medigap plans, also known as Medicare Supplement Insurance, operate differently from Medicare Advantage. The article explains that Medigap works alongside Original Medicare and helps cover certain out-of-pocket expenses such as copays, coinsurance, and deductibles. Although Medigap policies generally involve higher monthly premiums, they can offer greater predictability in medical expenses.

One advantage of Medigap is flexibility in choosing healthcare providers. The article explains that individuals with Medigap coverage can typically visit any doctor or specialist who accepts Medicare nationwide. This broader provider access can be beneficial for retirees who want more freedom in choosing healthcare providers across Pennsylvania or while traveling.

Prescription coverage is another important factor in the decision process. Many Medicare Advantage plans include prescription coverage as part of their bundled benefits. In contrast, Medigap plans do not include prescription coverage, which means individuals who choose Medigap often purchase a separate Medicare Part D plan to manage medication costs.

Budget considerations also influence the decision between Medicare Advantage and Medigap. The article explains that while Medicare Advantage plans may have lower premiums, they often include copays and service limits that affect annual out-of-pocket expenses. Medigap plans generally involve higher premiums but may reduce unexpected out-of-pocket expenses throughout the year.

Travel and lifestyle habits can also affect which plan is more suitable. The article explains that Medicare Advantage plans may have limitations on out-of-network care outside their coverage area. For residents in Pennsylvania who travel frequently or spend time in multiple locations, Medigap coverage may offer greater flexibility when accessing healthcare providers.

Enrollment timing is another important consideration discussed in the article. Medicare Advantage and Medigap plans have different enrollment rules and deadlines tied to the Initial Enrollment Period or the annual Medicare Open Enrollment period. Missing these enrollment opportunities can limit plan choices or result in additional underwriting requirements.

The article concludes that choosing between Medicare Advantage and Medigap in Pennsylvania requires careful evaluation of healthcare providers, prescription coverage, travel habits, budget considerations, and potential out-of-pocket expenses. Comparing plan structures and reviewing coverage details helps individuals make informed decisions that align with their healthcare and financial priorities.

How to Decide Between Medicare Advantage & Medigap features insights from Ash Toumayants, Financial Advisor of State College, PA, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

View original content to download multimedia:https://www.prnewswire.com/news-releases/hellonation-examines-medicare-advantage–medigap-coverage-differences-featuring-financial-advisor-ash-toumayants-302829329.html

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In HelloNation, Pool & Landscaping Expert Tina Possehn Wolbers Discusses What Pool Opening & Closing Services Include

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The article highlights how seasonal pool service simplifies pool maintenance and protects backyard pools year-round.

LANSING, Mich., July 24, 2026 /PRNewswire/ — What is included with pool opening and closing services, and how do they support pool ownership? The answer is explored in a HelloNation article, which features insights from Tina Possehn Wolbers of Wolbers-Possehn Pools, Ponds and Landscapes.

The HelloNation article explains that seasonal pool service plays a key role in maintaining a backyard pool throughout the year. By handling the transition between seasons, pool opening service and pool closing service make pool maintenance more manageable and allow homeowners to focus on enjoying their space.

Pool opening service marks the beginning of the swimming season. One of the first steps is removing the pool cover, which has protected the pool during colder months. The pool cover is carefully cleaned and stored, helping extend its lifespan and prepare it for future use. Once removed, the backyard pool begins to take shape as a clean and inviting environment.

Another important part of pool opening service is reconnecting and inspecting pool equipment. Pumps, filters, and circulation systems are checked to ensure they are functioning properly. This step helps restore water flow and sets the foundation for effective pool maintenance throughout the season.

Water level adjustments and water balancing are also essential components of pool opening service. Ensuring proper water levels allows systems to run efficiently, while water balancing helps create a safe and comfortable swimming environment. These steps help homeowners enjoy their backyard pool without unnecessary complications.

The article emphasizes that pool opening service and pool closing service are key components of seasonal pool service, helping simplify pool maintenance and reduce the stress of managing a pool. With a structured approach, homeowners can rely on consistent care that keeps their pool in good condition.

Pool closing service prepares the pool for colder months when it is not in use. This process includes lowering the water level to help prevent potential damage. Proper water management during pool closing service helps protect the structure and equipment over time.

Protecting plumbing lines is another critical part of pool closing service. Water is removed from pipes to prevent freezing and expansion, which could lead to damage. Taking these steps ensures that the system remains intact and ready for the next pool opening service.

Securing the pool cover completes the process. A properly fitted pool cover keeps debris out and helps maintain water quality during the off-season. It also makes the next pool opening service easier by reducing the amount of cleaning required.

Seasonal pool service provides a more predictable and low-stress experience for homeowners. Instead of handling every detail themselves, pool owners can rely on professional processes that keep their backyard pool functioning properly year after year.

Beyond maintenance, a well-cared-for backyard pool becomes a space for relaxation and connection. Whether hosting gatherings or enjoying quiet time, the pool adds value to everyday life. Pool opening service and pool closing service support that experience by keeping the pool ready when it matters most.

The HelloNation article concludes that understanding what is included in seasonal pool service helps homeowners set clear expectations and maintain their pool with confidence. With proper pool maintenance, water balancing, and use of a secure pool cover, owning a backyard pool in Lansing becomes both simple and enjoyable.

What Is Included With Pool Opening & Closing Services in Lansing? features insights from Tina Possehn Wolbers, Pool & Landscaping Expert of Lansing, MI, in HelloNation.

About HelloNation

HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

View original content to download multimedia:https://www.prnewswire.com/news-releases/in-hellonation-pool–landscaping-expert-tina-possehn-wolbers-discusses-what-pool-opening–closing-services-include-302829324.html

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Verra Mobility Schedules Second Quarter 2026 Earnings Call

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MESA, Ariz., July 24, 2026 /PRNewswire/ — Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today that it will report financial results for the second quarter ended June 30, 2026, after market close on August 5, 2026.

Verra Mobility’s Interim Chief Executive Officer, Jon Keyser, and Chief Financial Officer, Craig Conti, will host a conference call and live webcast to discuss financial results for investors and analysts at 5:00 p.m. ET on August 5, 2026.

A live webcast will be available on the Company’s Investor Relations website at ir.verramobility.com. To access this conference call by telephone, register here to receive dial-in numbers and a unique PIN to join the call. A replay of the call will also be made available on the Investor Relations website.

In addition, an archived webcast will be available in the “News & Events” section of Verra Mobility’s Investor Relations website at ir.verramobility.com.

About Verra Mobility

Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data and people to enable safe, efficient solutions for customers globally. Verra Mobility’s transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility and support healthier communities. The company also solves complex payment, utilization and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility principally operates in North America, Europe and Australia. For more information, please visit www.verramobility.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about Verra Mobility’s plans, objectives, expectations, beliefs and intentions and other statements including words such as “hope,” “anticipate,” “may,” “believe,” “expect,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology. The forward-looking statements herein represent the judgment of Verra Mobility, as of the date of this release, and Verra Mobility disclaims any intent or obligation to update forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. This press release should be read in conjunction with the information included in Verra Mobility’s other press releases, reports and other filings with the SEC and on the SEC website, www.sec.gov. Understanding the information contained in these filings is important in order to fully understand Verra Mobility’s reported financial results and our business outlook for future periods. Actual results may differ materially from the results anticipated in the forward-looking statements and the assumptions and estimates used as a basis for the forward-looking statements.

Additional Information

We periodically provide information for investors on our corporate website, www.verramobility.com, and our investor relations website, ir.verramobility.com. We intend to use our website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our website, in addition to following the Company’s press releases, SEC filings and public conference calls and webcasts.

Media Relations:

Investor Relations:

Valerie Schneider

Mark Zindler

valerie.schneider@verramobility.com

mark.zindler@verramobility.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/verra-mobility-schedules-second-quarter-2026-earnings-call-302834170.html

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