Homebuying could be tough in Oregon's largest city
Portland, Oregon, has the nation's worst housing outlook, according to a study LendingTree released this week.
Researchers from the personal finance website analyzed data from the nation's 100 largest metropolitan areas with a specific lens on housing unit approvals, vacancy rates, home value-to-resident-income ratios, and how much that ratio has changed in recent years. For the study, LendingTree drew its raw data from the 2022 and 2023 U.S. Census Bureau surveys and the 2024 Census building permits survey.
LendingTree said Portland has the nation's fourth-lowest vacancy rate and the 13th-highest home value-to-income ratio. Cities with low vacancy rates typically signal strong housing demand and a tighter availability of homes for sale, LendingTree said in its study.
Boise, Idaho, had the second-worst housing market outlook, according to LendingTree.
“The vacancy rates in Portland and Boise are less than half of those in many other big metros,” Matt Schulz, LendingTree chief consumer finance analyst, said in a statement. “When that happens, prices rise, making things even more expensive. Unfortunately, this isn’t likely to change in many of the most troubled metros because the data shows that insufficient building is being done."
Construction jobs grow nationwide
Construction employment increased in 184 metropolitan areas between April 2024 and April 2025, according to an analysis the Associated General Contractors of America released Wednesday.
The AGC crunched jobs data from the U.S. Department of Labor and found that the Arlington, Virginia, area added the most construction jobs (7,700) during the period. Dallas added the second-highest number (5,300), followed by the Cincinnati-northern Kentucky region (4,800).
The employment uptick has been concentrated in a particular sector of construction projects, AGC officials noted.
“Demand for infrastructure, public facilities, and data centers is helping boost construction employment in many parts of the country,” Macrina Wilkins, the association’s senior research associate, said in a statement Wednesday. “But that demand has not been enough to offset labor shortages and broader economic uncertainty in many other parts of the country.”
The number of construction jobs fell in 120 metropolitan areas, the AGC said, led by Riverside, California, which lost 6,000. The Los Angeles area is down 5,900 jobs, and New York City lost 5,400.
Most Americans doing OK financially, Fed survey suggests
In a survey the Federal Reserve Board released Wednesday, 73% of the U.S. adults polled said they were "either doing OK or living comfortably financially" in 2024. That's down from 78% in 2021, the Fed reported.
The Economic Well-Being of U.S. Households survey asks Americans to share their thoughts on retirement, the job market, their finances and other wallet-related pain points.
"The financial well-being of American households and businesses is essential to our nation's overall economic vitality," Michael Barr, Federal Reserve Board governor, said in a statement. "It is critical for the Federal Reserve to understand the challenges households and businesses face as we work to promote a healthy economy and strong financial system."
The survey indicated that Americans were increasingly concerned about the rising cost of housing, particularly homeowners insurance. About three in 10 homeowners with incomes less than $25,000 ditched their homeowners insurance last year, the study indicated.
"When asked the main reason they didn’t have homeowners insurance, 43 percent said they 'couldn’t afford it' while another 19 percent said it is 'not worth the cost,'" the Fed said in the survey results. "Fifteen percent said 'I self-insure or prefer not to buy insurance' and 7 percent said that 'no insurance company will insure my home.'”
Florida brokerage misses deadline to file earnings
La Rosa Holdings Corp., a residential and commercial brokerage in Florida, announced that it received a delinquency letter for failing to file a quarterly report with the U.S. Securities and Exchange Commission.
“We are actively working to complete and file our quarterly report on Form 10-Q and expect to do so shortly," the company said in a statement Wednesday. "We remain committed to transparency and strong financial reporting as we continue to execute on our business strategy."
The company has until July 21 to submit a plan to come back into compliance with its NASDAQ listing. If the plan is accepted, La Rosa will have until Nov. 17 to regain compliance. For now, the letter does not immediately impact the listing of the company's securities.
La Rosa did not disclose why officials did not submit the mandatory quarterly report.
The nation's cheapest rent is in Oklahoma, Apartments.com finds
Oklahoma holds the top spot for the most affordable state to rent a one-bedroom apartment, according to an analysis by Apartments.com, which is owned by Homes.com's parent company, CoStar Group.
The average rent in the Sooner State is $895 for a one bedroom. Within Oklahoma, the city of Lawton has the cheapest rent at $772 a month, according to Apartments.com.
Demand for apartments is growing at an above-average clip across the United States, while the development cycle has peaked and is poised to wind down quickly over the upcoming year, according to the analysis. Overall, U.S. apartment rent growth "has consistently remained slightly above 1% on a year-over-year basis over the past seven quarters," according to the analysis.
Rent in some states is more expensive due to demand, population and facets of the local economy. For example, New York City had the highest average one-bedroom rent at $2,660 per month in April, according to Apartments.com, and Massachusetts had the second-highest average at $2,513 per month.
Other states with budget-friendly rent include West Virginia, $914; Arkansas, $931; North Dakota, $935; Iowa, $955; Mississippi, $973; South Dakota, $974; Alabama, $1,040; Kentucky, $1,049; and Louisiana, $1,051.