Thursday, May 7th Edition |
Are you a renter? Or do you have a mortgage?
Let’s dive in today …
Today’s Big Story
Rents Around the U.S.
Rent’s not cheap, but growth as fallen behind inflation

It’s a little bit of a good news/bad news situation. The typical monthly rent in March was $1,910 per month, up 1.8% from a year ago. So it’s more but that represents the slowest rate of growth in rental costs since December 2020, according to a new Zillow study.
“Rents surged after the pandemic due to a sharp increase in demand colliding with limited supply and strong fiscal support,” Zillow senior economist Kara Ng told CBS News. “Growth is now slowing as new supply comes online, demand normalizes and affordability constraints reduce landlords’ pricing power.” In another boost for some renters, people's income rose faster in March than rental costs, giving people a bit more financial wiggle room.
Nerd Wallet agrees. They point out that the latest consumer price index report from the Bureau of Labor Statistics released in April shows that in March the shelter index (3%), which includes rent, fell behind annual inflation (3.3%). Prior to the report for March, shelter had been consistently outpacing inflation. But take the shift with a grain of salt: The disparity is due to the overwhelming spike in the gasoline index, pushing up overall inflation.
A map of 100 U.S. cities breaks down average monthly rent nationwide, revealing a wide divide between high-cost coastal markets and more affordable interior regions. Compiled by Visual Capitalist using Zillow’s Observed Rent Index (ZORI), the data highlights where renters are paying the most—and the least—for housing.
So where is rent most expensive? If you guessed California, you’d be right. San Francisco ranked number one at $3,830 per month. Next up is New York City at $3,706. And don’t forget, that’s just the average rent, which is probably enough to get you a closet—or, if you’re really lucky, a dishwasher. Alongside the tech hub and the "City That Never Sleeps," cities like Boston, Irvine, and San Jose also rank near the top, with several California metros making up a disproportionate share of the list. Turns out you almost need a stash of real gold to call the Golden state home.
FYI:
The most affordable rents? Look to the midwest, as Toledo, Wichita, Fort Wayne, Detroit and St. Louis rang in as the cheapest.
Iran Is Reviewing U.S. Peace Proposal
Trump threatens intense bombing if a deal is not reached
A day after announcing a pause in the military’s new operation to clear a path for commercial vessels through the Strait of Hormuz, halting a mission that had just begun, President Donald Trump on Wednesday threatened that if Iran did not agree to his latest peace plan, U.S. bombing would resume “at a much higher level.”
Trump said Iran had already accepted at least parts of the U.S. proposal as the two governments have continued to exchange documents via Pakistani mediators in recent days, expressing optimism that an agreement would be reached soon. “We have to get what we have to get,” Trump told reporters at the White House, expanding on an earlier social media post.
Nothing has been agreed yet, but the sources said this was the closest the parties had been to an agreement since the war began. Among other provisions, the deal would involve Iran committing to a moratorium on nuclear enrichment, the U.S. agreeing to lift its sanctions and release billions in frozen Iranian funds, and both sides lifting restrictions around transit through the Strait of Hormuz.
FYI:
If the negotiations collapse, U.S. forces would be able to restore the blockade or resume military action.
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Is “Loveflation” a Real Problem?
Rising costs are changing the way Americans date
You don’t need this newsletter to remind you that seemingly every facet of life is getting more expensive. But the trickle down of these rising costs has now come for our love lives. The phenomenon has even earned its own term — “loveflation” — and it’s affecting how Americans date.
“Loveflation is the rising cost of connection,” one personal finance expert told Inside Hook. Dating, going out, simply enjoying a relationship outside of the home is in jeopardy because of the rising cost of everyday expenses. And it’s not just hitting single-income daters, but established couples as well, making everyone who’s looking to create or deepen romantic connections reassess how they date.
A recent survey found that 56% of Americans now say rising costs have reduced how often they go on dates, including 27% who say they've stopped dating altogether to save money.
FYI:
Daters are increasingly adopting "intentional dating" by planning creative, budget-friendly activities like cooking at home or pre-gaming before going out.
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Culture Debriefing
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