Apartment landlords across the U.S. struggled through a tough first quarter as a slowdown in the rental market grew worse.
Rents in the first quarter declined or were flat in 28 of the 79 metropolitan areas covered by Reis Inc., including New York, Portland, Denver, Boston, Los Angeles and Washington, D.C. That was up from 14 markets with lower or flat rents in the fourth quarter.
Average rents nationwide, meanwhile, increased 3.1% in the first quarter compared with a year earlier, down from the more than 5% growth they posted a year ago, according to Reis.
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What makes a city livable? People have differing views, but for many city-dwellers, proximity to restaurants, grocery stores, parks and jobs are some of the key perks of urban living, especially if those destinations are accessible without a car. According to recent Redfin research, the construction of parking spaces for residential properties is starting to wane, as is the number of families who own two cars. And as traffic concerns and commute times rise across the country, many people are opting out of car ownership entirely.
Redfin compiled the latest Walk Score rankings to see which U.S. cities with populations greater than 300,000 have the highest composite Walk Score, Transit Score and Bike Score rankings. These are places where you could forgo having a car and still be able to get around town in a variety of ways, whether it be by foot, bike or public transit. And while not all cities are created equal, each of these 10 cities has infrastructure to support a car-free lifestyle.
San FranciscoNew YorkBostonWashington D.C.PhiladelphiaChicagoMinneapolisMiamiSeattleOakland
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Industrial Production and Capacity Utilization: January 2017
Retail Sales: January 2017