Florida Has One of the Best Cities for a Thriving Economy
If you’re looking for a city with a thriving economy, low rent costs and a good quality of life, then look no further than the South. In fact, one Florida city has been named one of the best cities for renting and having a thriving economy, according to experts. According to a new report from experts, the South actually has 38 of the top 50 best places to live in 2024 if you’re looking for those factors and more.
Florida Has One of the Best Cities for Renting, Having a Thriving Economy, Experts Say
The experts at RentCafe.com have put together a roster of the best cities to rent in 2024 using the factors of cost of living and housing; local economy; and quality of life. “When looking for the best place to rent in 2024, factors such as the size of apartments, employment or the quality of schools can really make a difference in the vetting process,” they stated. “And while no city has everything, there are quite a few that come close and rank high for renters searching for options that better fit their wallets and lifestyle.” In general, the Sun Belt ruled, offering the best rankings on their tally. They included both big and smaller cities in their study, adding that no matter if “you’re drawn by the energy of a big city or the relaxed vibe of a small town, there’s a place that’s perfect for your housing needs.”
So, which city was named the best for renting and having a thriving economy in America? It’s Charleston, which is a repeat No. 1 on the tally. This is the city’s second year in a row snagging the honor. So, what puts Charleston ahead of other cities? It has a strong, thriving economy, with RentCafe.com saying it’s the No. 2 best in America. It also has a great affordability ranking at No. 7, and the cost of living is below the national average. But, the good news is that Florida isn’t far behind when it comes to the best cities for renting and having a strong local economy. Sarasota came in at No. 3 on the tally. “Ranking fifth in cost of living and housing and sixth in local economy, this Florida gem is the perfect spot for renters looking for a city that strikes the perfect work/life balance,” the outlet states. Rounding out the top five, No. 2 is Atlanta, Georgia; No. 4 is McKinney, Texas; and No. 5 is Scottsdale, Arizona. I’m happy to see Sarasota such a great spot for having a thriving economy and low rent costs.
Make Your Money Grow with These Low-Risk Investments
Invest in certificates of deposit (CDs)
You’ve probably heard of CDs being low-risk investments. Fidelity.com explains that “CDs provide reliable, fixed-rate returns on a lump sum of money over a fixed period of time, such as six months, one year, or five years.” They add that the great thing is that if you “get a traditional CD at a bank or credit union where they are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Association (NCUA).” Usually, CDs have a minimum deposit, and you’ll have to pay a penalty if you take your money out too soon.
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High-yield savings accounts
High-yield savings accounts are like your regular savings account, but they earn more interest. “You can use these accounts for long-term savings goals or to hold extra money from your checking account,” CreditKarma.com states. “For example, if you want to start saving for a house or building up an emergency fund, this could be a great option.”
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U.S. treasury bills, notes and bonds
Forbes.com says that right now, the risk level for U.S. treasury bills, notes and bonds is “very low.” They add that, “U.S. Treasury securities are backed by the full faith and credit of the U.S. government. Historically, the U.S. has always paid its debts, which helps to ensure that Treasurys are the lowest-risk investments you can own.”
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Money market funds
Fidelity.com states that, “Money market funds are mutual funds that invest in short-term, low-risk assets like Treasury and government securities, commercial paper, or municipal debt—depending on the focus of the fund.” They add that, “Because their underlying investments are typically high quality, they are generally less volatile than other types of mutual funds, such as stock funds.”
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Fixed annuities
Fixed annuities are a pretty safe bet. As Forbes.com explains, “Fixed annuities are a popular type of annuity contract that are frequently used for retirement planning, but can also be useful for medium-term financial goals.” They add that, “Sold by insurance companies and financial services companies, a fixed annuity guarantees a fixed rate of return over a set period of time, regardless of market conditions.”
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Invest inside your comfort zone
People talk about stepping outside of their comfort zone in life, but really, investing isn’t a place to do this. You know how much money you have to “play” with, so if you’re worried about putting too much money in the market, these low-risk investments could still help you make money on your money.
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