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Almost 30% house renters in this Northern Virginia county pay more than $5,000 a month

For renters who choose single-family homes over apartments, the cost can be high, and Arlington, Virginia, and D.C. are near the top of the list of luxury houses for rent.

Real estate site Point2 ranks Arlington No. 10 in the nation for what it called Tier 1 luxury houses for rent, with 29.67% of rental houses costing at least $5,000 a month. Of those, 3.3% of house renters in Arlington fall into Tier 2, paying $10,000 a month or more.

The District is close behind, with 29.09% of single-family houses renting for $5,000 a month or more, and 2.55% renting for $10,000 a month or more.

The availability of newly-built houses entering the rental market has grown significantly since the pandemic. According to RentCafe, in 2023, 27,500 houses for rent were completed, a 75% year-over-year increase. Nearly 45,000 single-family houses planned for the rental market are currently under construction across the country.

The number of single-family renter households at all price points has topped 14 million and currently accounts for 32.5% of all renting households, according to 2022 Census data.

The number of single-family house renters with a household income of $150,000 or more has grown the fastest, more than doubling since 2017, according to Point2 research.

Five of the top six metro areas for Tier 1 luxury single-family house rentals are in California, led by Irvine, at almost 74%, and Los Angeles, at almost 60%. Glitzy Los Angeles is by far the leader in rentals for single-family homes going for $10,000 a month or more, at almost 29%.

Boston ranks No. 3 for Tier 1 luxury single-family house rentals, at 43%.

Point2’s full analysis of luxury single-family house rentals by market and commentary is online.

Massachusetts court hears arguments in lawsuit alleging Meta designed apps to be addictive to kids

BOSTON (AP) — Massachusetts' highest court heard oral arguments Friday in the state's lawsuit arguing that Meta designed features on Facebook and Instagram to make them addictive to young users. The lawsuit, filed in 2023 by Attorney General Andrea Campbell, alleges that Meta did this to make a profit and that its actions affected hundreds of thousands of teenagers in Massachusetts who use the social media platforms. “We are making claims based only on the tools that Meta has developed because its own research shows they encourage addiction to the platform in a variety of ways,” said State Solicitor David Kravitz, adding that the state's claim has nothing to do the company's algorithms or failure to moderate content. Meta said Friday that it strongly disagrees with the allegations and is “confident the evidence will show our longstanding commitment to supporting young people.” Its attorney, Mark Mosier, argued in court that the lawsuit “would impose liabilities for performing traditional publishing functions” and that its actions are protected by the First Amendment.
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