The pandemic’s effects continue to impact housing markets, with formerly affordable cities seeing a steep rise in housing costs.
Home prices in what were once some of the country’s most affordable cities continue to soar, reports Mary K. Jacob in the New York Post. In Cleveland, home prices rose by 15 percent in 2024, the largest increase among the 50 largest U.S. cities.
Other cities follow closely behind: Milwaukee housing costs rose by 14.5 percent, Philadelphia’s grew by 14 percent, and Miami home costs rose by 11.8 percent. “Nationwide, home prices rose in all 50 of the largest metro areas for the first time since May 2022, with the typical home now costing $427,670.”
For cities that saw a drop in home costs, like Tampa (0.5 percent), this was in part due to increased housing construction, but also growing concerns about flooding and insurance costs. Austin, Texas saw a significant drop in rents last year following zoning reform and an apartment construction boom.
FULL STORY: America’s most affordable housing havens aren’t so affordable anymore
How Houston Can Be a Model for Housing Reform
The city builds more new housing than almost any other and has dramatically reduced homelessness, yet low-income families struggle to find affordable housing.
NYC’s Proposed Zoning Reforms Lag Behind Other Cities
Cities like Austin and Minneapolis are making major changes to their zoning codes to encourage housing construction, but New York’s proposed reforms are far less ambitious.
‘Biggest Little City’ Makes Room for Growth
The mayor of Reno has pushed for reforming housing regulations to support more affordable development.
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The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
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Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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