Business

Highest And Lowest Rent In America For 2017

Published

9 years ago

January 5, 2018

(Via Zerohedge)

Politically, culturally, and ecologically, 2017 was a year of anxiety. Hurricanes and flooding ravaged the Virgin Islands, Puerto Rico, and Texas. Political controversies dominated headlines and push-notifications. Relations with North Korea reached their lowest point in decades, raising fears of a nuclear standoff.

Economically, though, things remained stable in 2017. The economy continued to recover from the market crash of 2008, with unemployment reaching its lowest point in 17 years. Although homeownership is rebounding from its nadir last decade, renting now far outpaces ownership. According to a new report by the Joint Center for Housing Studies of Harvard University, renting households have been steadily rising since 2004, with 2017 marking the first slight decline in those 13 years. As of the middle of 2017, the JCHS estimates that there are about 43 million renters in the U.S. — more than a third of U.S. householders.

In an effort to give renters (and potential renters) market information in close to real time, ABODO releases monthly reports on rental trends throughout the year. Our Annual Rent Report is a more zoomed-out look at the year in renting. How did rent prices change nationally? At the state level? Where did rent increase the most over 2016, and where did it decline? Where are the 10 most expensive rental markets? Let’s start with a look at what happened nationwide.

Median Rent Nationwide

Nationally, rents were on the rise over the course of 2017. The national median rent for one-bedrooms rose 2.4%, ending the year at $1,040. Rents for two-bedroom apartments were $1,252 in December, 3% higher than they were in January.

But it didn’t always look like we were headed for an increase. One-bedroom median rents fell for much of the first quarter, and through June they were within 1.5 percentage points of January’s figure. In July, the median one-bedroom rent was $1,016 — exactly what it was in January. But the fall saw marked increases. The year’s most volatile months were October, November, and December, which saw the median rent increasing far more quickly than at any other time.

Two-bedroom rents exhibited similar stability through the first quarter before more sharp increases in the second. After a pause in the late summer and early Autumn, two-bedroom rents, like one-bedroom rents, saw their greatest hikes in the last three months of the year.

Rent by State

Rent went up in 28 states last year, as well as the District of Columbia. It decreased in 21 states, and stayed the same in just one: South Dakota.

The states where rent fell most were Connecticut, where rent fell an average of 3.8% per month, Washington (-1.3%), and New Mexico (-1.1%). The states with the highest average rental hikes were Rhode Island, where rents rose an average of 7.8% per month, West Virginia (5.3%), and Wyoming (5.1%).

Honolulu, HI, and Seattle, WA — two rental markets known for their volatile prices — also make our top five for greatest average monthly change, up an average of 2.4% and 2.1% each month, respectively.

The greatest average decreases month to month were much smaller than increases across the board, but the largest average monthly decrease went to Fort Wayne, IN, dropping an average of 2.8% monthly. Lincoln, NE (-2.2%); El Paso, TX (-1.9%); Pittsburgh, PA (-1.7%), St. Paul, MN (-1.7%); and Nashville, TN (-1.6%) also had sizable decreases.

2-Bedroom Apartments

Notably, Fort Wayne, IN, holds its place for largest average monthly decrease for two-bedroom apartments, with an average monthly change of -2.8%. Six other cities also maintain a spot in our top 10 decreases: El Paso, TX (-1.6%); Pittsburgh, PA (-1.3%); Buffalo, NY (-2.1%); St. Paul, MN (-.8%); and Columbus, GA (-.9%). The most surprising city on the list is San Francisco, CA — continually labeled as the most expensive rental market in the country. Nonetheless, two-bedroom rents there dropped an average of .9% a month.

The composition of our top 10 average monthly two-bedroom rent increases also remains very similar to list for one-bedroom increases, although these increases are markedly less steep. New Orleans, LA, drops to #7, with an average increase of 1.4%, while Washington, D.C. takes its place at #1, with an average increase of 2.6%. Atlanta, GA, comes in at #2 with 2.3%, and Seattle, WA, holds its #4 slot with 1.7%, tied with the rate of Minneapolis, MN, apartments. Sacramento, CA crawls up the list from #10 to #8, with an increase of 1.3%.

Miami, FL (2.1%); Winston-Salem, NC (1.5%); Phoenix, AZ (1.2%); and Kansas City, MO (1.2%) also saw their two-bedroom rents increase at some of the highest average monthly rates in the country. Meanwhile, two-bedroom apartments in Milwaukee, WI; Lubbock, TX; and Anchorage, AK, saw almost no rent change at all.

Highest & Lowest Rents in the Country

Coming in at an average monthly rent of $4,373, San Francisco, CA, continues to hold the nation’s highest price for a one-bedroom apartment by a margin of more than $1,000. And San Francisco’s rents actually decreased this year by an average of .9% each month.

New York City, NY, comes in second, with one-bedroom apartments going for $3,234, which also saw small average monthly decreases of .3%. NYC is followed closely by Los Angeles, CA ($3,099), and Washington, D.C ($3,031), both of which saw rises throughout the year.

Renters in Detroit, MI, enjoyed the lowest average monthly rent of the year: $613 for a one-bedroom. That’s one-seventh the cost of a one-bedroom in San Francisco. At just a dollar more, Fort Wayne, IN, has the nation’s second-cheapest rent, after topping our lists for largest rent average monthly decreases for both one- and two-bedrooms.

Lubbock, TX, pulled off an interesting feat, landing at #7 for cheapest one-bedroom rents with an average monthly change of nothing whatsoever. There’s something to be said for stable rents.

January 2018 Rent: New Year, New Trends?

With the recent JHCS report predicting that the past decade of rapid growth in renting households might be coming to an end, we might be on the cusp of an new rental landscape. In 2017, we saw about eight months of slow declines in rent prices, followed by four months of increases that more than made up for the early year rent drops. What does 2018 have in store?

Nationwide, 2018 starts with slightly higher rents for both one- and two-bedroom apartments: The national median one-bedroom rent is $1,046, a .58% increase over December, while two-bedroom rents saw only a negligible .17% increase to $1,152.

1-Bedroom January Rents

To make sure we’re including accurate data for as many cities as possible, we’re expanding our 2018 reports to include nearly 20 more cities. We’ve also dropped a few cities that no longer match our parameters for minimum population and property count thresholds. (For more detail, visit our methodology section.)

One of the newcomers to our study tops this month’s list of highest one-bedroom rent hikes for January: Syracuse, NY, with a jump of 8.8%. Washington, D.C., is a distant second-place, with rents up 5.5% to $2,453. The nation’s capital is closely by St. Petersburg, FL (5.4%), and St. Paul, MN (5.1%) — which was also #3 for December rent increases. Phoenix, AZ, is another repeat on the list, with a 3.2% increase in one-bedroom rents, following a 2.6% rise in our December report.

Three Texas cities saw rents go up at least 2%: Richardson leads the Lone Star state with a 3.2% increase to $1,236, followed by Fort Worth (up 3% to $930), and Houston (up 2.2% to $1,057).

Our top two cities for greatest median one-bedroom rent decreases are also new to our studies: Little Rock, AR (-12.2%), and New Haven, CT (-9.1%). Those newcomers push last month’s top two down to #3 and #5: Columbus, OH (-7.4%), and Madison, WI (-4.9%), respectively.

Two other Ohio cities also saw significant decreases in January. One-bedroom rents in Cincinnati are down 3.9%, to $824, and Cleveland’s are down 3.2%, to $777.

2-Bedroom January Rents

In many cases, two-bedroom rents are following suit with one-bedroom fluctuations. St. Paul, MN, saw the highest increase, up 9.5% to $1,501, with St. Petersburg, FL, close behind with rents up 9.2% to $1,485.

Fort Worth, TX (4.5%); Richardson, TX (4.1%); Denver, CO (2.8%); and Syracuse, NY (2.5%), are all also carry-overs from our list of highest one-bedroom rent hikes. Rent increases in Boulder, CO (5.1%); Las Vegas, NV (4.8%); Gainesville, FL (3.1%); and Evansville, IN (2.9%) outpaced their one-bedroom counterparts.

Two-bedroom rent decreases, however, seem to go their own way. Our largest decrease of 6.4% goes to Fargo, ND, where two-bedroom rents are now $790. New Orleans, LA — which lead 2017 for highest average monthly increases — gets a bit of relief, with two-bedroom rents down 6.1%.

Three typically expensive cities saw breaks for their two-bedroom renters: Berkeley, CA, saw prices dip 5.3%, while Atlanta, GA, and Seattle, WA, saw drops of 3.3% and 3.2%, respectively.

Cleveland, OH (-4.8%); Little Rock, AK (-3.6%); and New Haven, CT (-38%), are the only cities that repeat from the one-bedroom list.

So far, national rent trends paint a mild picture going into 2018. We’ll keep an eye on the trends, and report back next month.

Business

President Trump Secures Iowa Largest Steel Plant in U.S. History

Published

2 weeks ago

September 28, 2026

Populist Wire Editorial Board

WASHINGTON — President Donald Trump announced Monday that Mesabi Metallics will build a roughly $15 billion steel mill in southeast Iowa — a project the White House calls the largest steel plant ever constructed in the United States.

Speaking in the Oval Office alongside company executives and administration officials, Trump framed the deal as proof that American manufacturing is coming back.

“Today, we’re thrilled to announce that Mesabi Metallics will be building the largest steel plant in American history in the great state of Iowa,” Trump said. “It’s the largest plant, one of the largest plants in the world, but it’s the largest plant in America by far.”

“In other words, this steel will be mined, melted and made right here in the USA,” he added. The project is expected to create up to 6,000 construction jobs, nearly 2,000 manufacturing and mining jobs, and $95 billion in economic activity, according to the White House.

The mill is planned for Lee County in southeast Iowa, near the Mississippi River, which the company intends to use to move iron ore from Minnesota. Rep. Mariannette Miller-Meeks, whose district includes the county, confirmed the location and said she joined the Oval Office announcement. Iowa lawmakers have discussed a possible special session to consider tax incentives before the November midterms.

Mine to mill, all in America

Mesabi Metallics, based in Nashwauk, Minnesota, and owned by India’s Essar Group, will feed the Iowa plant with iron ore from its new mine on Minnesota’s Mesabi Iron Range — the first new U.S. iron ore mine in about 50 years. The mine represents more than $2.5 billion in investment and is expected to produce about 7.5 million tons of direct-reduction-grade pellets a year and support roughly 350 jobs. Combined with the Iowa mill, the two projects total nearly $18 billion.

The company describes the supply chain as “100% American steel: mined, melted and poured in Minnesota and Iowa.” The U.S. Export-Import Bank has provided major financing for the Minnesota expansion.

The Iowa plant’s first phase is designed for 7.5 million tons of steel a year, with capacity later rising to 10 million tons — more than any other U.S. mill, according to the White House. First steel is targeted for 2030. Officials say it will use modern direct-reduced iron (DRI) and electric-arc furnace technology and can supply high-grade steel for defense, vehicles, shipbuilding, energy, and infrastructure.

Mesabi CEO Joe Broking called it “a major moment for U.S. made steel, combining the highest quality direct-reduction grade iron ore pellet from Minnesota’s Iron Range with the most advanced DRI to EAF steelmaking technology in Iowa.”

Permanent employment at the Iowa mill is projected at least 1,750 jobs. Some local reports put pay above $49 an hour. Construction is expected to begin soon.

Political and industrial context

The announcement comes weeks before the Nov. 3 midterm elections and after the administration raised steel tariffs to 50%. The White House is presenting the project as the first “mega” steel plant built in the United States since the 1960s and as evidence that tariffs and an America-first industrial policy are drawing capital back home.

White House spokeswoman Taylor Rogers said: “President Trump is delivering on his promise to rebuild American industry, reshore manufacturing, and create new jobs. Today’s announcement underscores the President’s historic efforts to revitalize the U.S. steel industry — supporting local communities, strengthening supply chains, and protecting our national security.”

Iowa Gov. Kim Reynolds welcomed the news: “American steel is BACK! … We’re proud to be the future home of the largest steel investment in US history—creating thousands of quality jobs, strengthening our economic trajectory, and ensuring strategic goods are Made in America.”

Commerce Secretary Howard Lutnick, EXIM Bank Chairman John Jovanovic, Mesabi Chairman Rewant Ruia, and Iowa officials including Sen. Joni Ernst attended the event.

U.S. raw steel output was about 82 million tons in 2025. A 10-million-ton Iowa mill would represent a significant share of national capacity and shift more production toward the Midwest.

The project still faces the usual hurdles of a multi-year industrial build: permitting, infrastructure, power supply, and state incentives. Production is four years away. But the administration and the company presented Monday’s announcement as a completed deal and the start of construction, not a concept.

For Iowa’s southeast corner and for a steel industry that has spent decades watching mills close, the numbers are large: billions in private capital, thousands of jobs, and a fully domestic mine-to-mill chain the White House says will not rely on foreign ore or foreign mills.

Business

Enjoy Your Tasty Wheat: How AI Corporate Greed is Killing Humanity

Published

8 months ago

February 16, 2026

Ben Kenobii

Why the elite have decided it’s better to feed machines than humans.

We have a lower class of CEOs. And AI is making it worse.

In the past, these titans of industry would invest in their communities: libraries, public works projects, parks, or actual philanthropy.

Today’s C-suite “geniuses” engage in fake activism, bribery disguised as donations, and a complete nihilism from the communities they proclaim to serve at the safety of their gated communities.

It used to be a source of great pride for an owner to discuss how many employees they have. They would boast about how they put food on the table for families. They would talks about benefits, and how well they take care of their workers. Hell, they used to even describe them as “family.”

Now, they can’t wait to tell shareholders how they automate everything themselves, outsource to foreign countries for pennies on the dollar, and utilize AI to cut their entire labor force (we will get to this soon.)

The common thread is that those at the top are completely divorced from their workforce, the very people that happen to also be their consumers.

This was the situation largely even before AI. It’s gotten worse. They are absolutely foaming at the mouth to displace workers.

The only way to describe it is a race to the bottom. Investing millions into replacing humans with AI. This is already happening, and the reward has been big short-term gains from cutting jobs that look like more profitability to investors.

What’s more is that these AI data centers need billions of gallons of water, insane amounts of electricity, and tons of facilities to expand growth. It’s so astronomical they’re talking about moving it into space.

Think about it for a minute: companies would rather provide “drinking” water, “feed” electricity, and pay to “house” MACHINES instead of paying a living wage to people.

In fact, it might even be cheaper to pay a living wage. That isn’t stopping industry leaders from chasing their human-less dreams, despite it taking less energy and resources for humans. Yet they’re still choosing machines.

They are even willing to operate at a loss simply for the idea that they can save the cost of paying a wage.

There are a few outcomes that are possible:

Best case: AI hype is exposed as overblown and companies understand that it’s simply a tool and they need actual operators behind the steering wheel. AI starts creating more jobs. It seems unlikely, but given that AI in actuality produces more slop than creative, it’s possible.

Worst Case: The arms race of displacing workers continues. Their greed hasn’t ever really showed signs of waning. To supplement the slop it creates, they will use freelance labor from countries like India to extinguish the fires it creates and justify not needing a full time employee. They will stop at nothing to chase their goal of a technocracy to increase profits. (Note: They think they don’t need you to even buy their products with the top 1% buying 50% of the goods.)

They trained AI on your work, fired you to save money, flooded the world with soulless garbage, empty warehouses, and call it innovation.

To them I say: enjoy your tasty wheat.

Business

MAGA: From Shopping Mall to Manufacturing Hub 2.0

Published

3 years ago

March 15, 2024

Pepe Jones

Title: America’s Transition: From Shopping Mall to Manufacturing Hub 2.0

In the past few decades, America has often been described metaphorically as a giant shopping mall or auction house, where consumption and commercialism have dominated the landscape. However, with the rise of the Trump administration and the ambition to “Make America Great Again,” a new vision is emerging—one that aims to transform the nation into the world’s greatest manufacturing hub ever seen, leveraging AI, blue-collar labor, and a combination of innovative technologies.

The shift from a consumer-driven economy to a production powerhouse signifies a strategic move towards self-sufficiency, economic resilience, and global competitiveness. This transformation is not merely about revitalizing industries of the past but embracing cutting-edge technologies and sustainable practices to redefine the future of manufacturing.

At the heart of this evolution lies the integration of artificial intelligence (AI) into manufacturing processes. AI-driven automation streamlines production, enhances efficiency, and reduces costs, enabling American manufacturers to compete on a global scale. By harnessing the power of machine learning and predictive analytics, businesses can optimize supply chains, minimize waste, and customize products to meet diverse consumer demands.

However, the vision for America’s manufacturing renaissance extends beyond technological innovation. It embraces a diverse workforce, blending the traditional blue-collar skillset with the expertise of engineers, data scientists, and software developers. This fusion of talent creates a dynamic ecosystem where creativity, problem-solving, and collaboration drive continuous improvement and sustainable growth.

Moreover, the resurgence of American manufacturing is not confined to a single sector but encompasses a broad spectrum of industries, from automotive and aerospace to electronics and renewable energy. By leveraging cross-disciplinary expertise and fostering strategic partnerships, the United States can position itself as a global leader in advanced manufacturing, setting new standards for quality, innovation, and sustainability.

One of the key strengths of this manufacturing transformation is its adaptability and resilience. In contrast to the volatility of global markets and supply chains, a robust domestic manufacturing base provides stability and security, mitigating risks associated with geopolitical tensions, trade disputes, and natural disasters. By decentralizing production and embracing local sourcing, America can reduce its dependence on foreign imports and safeguard its economic sovereignty.

Furthermore, the transition towards a manufacturing-centric economy aligns with broader societal goals, such as job creation, workforce development, and regional revitalization. By investing in vocational training programs, apprenticeships, and re-skilling initiatives, the United States can empower individuals from diverse backgrounds to thrive in the digital age and secure meaningful employment opportunities in the manufacturing sector.

As America embarks on this journey towards manufacturing excellence, it must also prioritize sustainability and environmental stewardship. By embracing eco-friendly practices, renewable energy sources, and circular economy principles, manufacturers can minimize their carbon footprint, reduce waste generation, and preserve natural resources for future generations.

In essence, the vision of America as the world’s greatest manufacturing hub represents a paradigm shift—one that transcends partisan politics and embraces a collective aspiration for progress, prosperity, and shared prosperity. By harnessing the transformative power of AI, blue-collar ingenuity, and interdisciplinary collaboration, the United States can reclaim its status as an industrial powerhouse and pioneer a new era of manufacturing innovation on the global stage.

As the nation embarks on this ambitious journey, it must remain steadfast in its commitment to inclusivity, sustainability, and technological leadership, ensuring that the benefits of the manufacturing renaissance are felt by all Americans and resonate across borders, shaping a brighter and more prosperous future for generations to come.