Markets

Insider Trading

Hedge Funds

Retirement

Opinion

The Top City with the Highest Homeless Population Per Capita in the US

In this article, we will be taking a look at the top city with the highest homeless population per capita in the US. If you wish to learn about more homeless cities, head straight to our detailed article on 25 Cities with the Highest Homeless Population Per Capita in the US.

The Rising Tide of Homelessness in the US: Causes, Impact, and Solutions

Approximately 649,535 people are homeless in the US, a 12.42% increase from 2022 and a 15.54% increase from 2019. The national rate of homelessness is approximately 19.4 people per 10,000. The top three states with the largest homeless populations are California, New York, and Florida. These states have a combined total of over 315,000 homeless individuals, which accounts for nearly half of the total homeless population in the US.

With approximately 181,399 homeless people, California has the highest number of homeless individuals in the country. The state’s high cost of living, particularly in cities like San Francisco and Los Angeles, contributes to its large homeless population. The median home value in California is $715,900 which makes it difficult for low-income individuals to afford housing. York has the second-highest number of homeless people, with around 103,200 individuals.  Florida has the third-largest homeless population, with about 30,756 individuals with a median home value of $354,100.

It is extremely difficult for low-income families and workers to locate affordable homes. The National Low Income Housing Coalition states that to maintain housing costs below 30% of income, a full-time worker in the US needs to make $21.25 per hour, sometimes known as the “housing wage,” to afford a single-room residence. Too high rents and excessive living expenses push a lot of low-income families into homelessness.

Tennessee State University’s Dr. Ken Chilton conducted research on how REITs affected the housing market. In low-income neighborhoods, REITs frequently take the role of landlords, raising rents to 50%–70% of inhabitants’ wages and contributing to an increase in homelessness. On the other hand, some REITs are preventing homelessness by building affordable homes and generating money for assistance and shelters.

Major Players Catering to the Homeless People 

AvalonBay Communities, Inc. (NYSE:AVB) is a leading real estate investment trust (REIT) that has been actively involved in supporting the homeless and building strong communities through its philanthropic efforts. Since 2015, AvalonBay has been an American Red Cross Disaster Responder Partner, donating over $2 million to support the organization’s important work. The partnership includes blood donations, volunteering, CPR training, and an annual Community Preparedness Week.

In Q1 2024, AvalonBay Communities, Inc. (NYSE:AVB) reported earnings per Share (EPS) of $1.22, surpassing the estimated $1.17. Their Same Store Residential Net Operating Income (NOI) increased by 3.7% year-over-year which was driven by a 4.2% rise in revenue, even though operating expenses increased by 5.2%. The Q1 report also highlights that they are focused on executing strategic initiatives, including operating model transformation to deliver an $80 million incremental annual NOI uplift.

Similarly, Vornado Realty Trust (NYSE:VNO) also helps the homeless. While the company is not directly involved in catering to the homeless, it has significantly contributed to the community through various initiatives and partnerships. Vornado Realty Trust (NYSE:VNO) has partnered with organizations like the New York City Economic Development Corporation to create mixed-use projects that include affordable housing units.

The company’s involvement in developing the Penn District in Manhattan is expected to contribute $6.4 billion to the local economy over the next 30 years and create more than 1,300 jobs during the construction period and 400 permanent jobs. Vornado Realty Trust (NYSE:VNO) reported a first-quarter 2024 comparable FFO, as adjusted, of $0.55 per share compared to $0.60 per share in Q1 2023, a decrease of $0.05 per share. The company expects its 2024 comparable FFO to be down from 2023 due to higher projected net interest expense of about $0.30 per share and the impact of known vacancies at properties like 1290 Avenue of the Americas, 770 Broadway, and 280 Park Avenue, which is estimated at $0.25 to $0.30 per share.

Our Methodology 

We analyzed the 2022 report from the City Mayors Society to determine which 25 US cities have the largest per capita number of homeless people. We identified the top 25 cities after analyzing data for 32 cities with the greatest rates of homelessness per 100,000 inhabitants. The rankings are based on the percentage of homeless persons per 100,000 population in 2018 that changed between 2014 and 2018, and they are presented in ascending order.

The Top City with the Highest Homeless Population Per Capita in the US

1. Eugene, Oregon

Homeless People per 100,000 Residents: 432 

Eugene tops the list for being one of the cities with the highest homeless population per capita in the US with around 432 per 100,000 people being homeless. Around 44% (1,182) of the 2,690 homeless adults aged 25-64 in Eugene were experiencing chronic homelessness in January 2022. In total, 73% of homeless people in the Eugene area live unsheltered which is one of the highest rates in the country. Eugene had the second-highest number of people experiencing homelessness (2,880) among largely urban areas outside of major cities in the United States.

If you are curious to know which other cities in the US that have the largest homeless population per capita, head straight to our full free list on 25 Cities with the Highest Homeless Population Per Capita in the US.

You can also check out our study on The Cheapest AI Stock if you’re searching for an AI stock that trades at less than five times its earnings and is just as promising as Microsoft.

READ NEXT: 15 Best Everyday Office Perfumes for Men & 15 States with the Lowest Homeless Populations Per Capita in the US

Disclosure. None: The 25 Cities with the Highest Homeless Population Per Capita in the US is originally published on Insider Monkey.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 70%.

For a ridiculously low price of just $29, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

  • The Name of the Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.
  • One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149
  • Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
  • Lifetime Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund ANYTIME, no questions asked.

 

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

  1. Head over to our website and subscribe to our Premium Readership Newsletter for just $29.
  2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.
  3. Sit back, relax, and know that you’re backed by our ironclad lifetime money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…