• El Paso Local Pulse: Wage Hike, Housing Market, and Community Achievements

  • Jan 4 2025
  • Length: 4 mins
  • Podcast

El Paso Local Pulse: Wage Hike, Housing Market, and Community Achievements

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  • Summary

  • Good morning, this is El Paso Local Pulse for January 4, 2025.

    We're starting off the new year with some significant updates from around our city. First, let's talk about the recent pedestrian crash on I-10 downtown that occurred on Saturday evening. The El Paso Police Department is still investigating the incident, and we'll keep you updated as more information becomes available.

    In other news, the El Paso Fire Department responded to a house fire in the Lower Valley, displacing one family. This serves as a reminder to always be cautious and prepared for emergencies.

    Moving on to the job market, we have some positive news. The city council recently approved a minimum wage increase for city employees, raising it from $13.61 to $15.75 an hour. This change is set to take effect on February 23 and is a significant step forward for our city's workforce.

    As for the current unemployment rate, it stands at 4.5% as of October 2024, according to the United States Federal Reserve. This rate is slightly below the national average, reflecting a stable job market in El Paso.

    Now, let's take a look at the real estate pulse. Home prices are expected to rise 3-4% annually through 2025, with continued inventory shortages and strong rental demand. The average rent for an apartment in El Paso is currently around $1,050 per month, with projected increases of 3% to 4% annually. This means that by 2025, average rents could reach $1,085 to $1,100 per month.

    In terms of new developments, we're seeing a focus on higher-end properties, including luxury apartments and single-family homes in neighborhoods like West El Paso and the Upper Valley. However, there's a need for more affordable and mid-range housing to address the broader housing shortage.

    From city hall, we have updates on decisions that affect our daily lives. The recent minimum wage increase is a notable example of the city's commitment to its workforce.

    Weather-wise, today is expected to be sunny with a high of 75 degrees. This is perfect weather for outdoor activities, so make sure to take advantage of it.

    In business news, the Gateway Hotel in El Paso is set to be rebranded as La Quinta Inn. This change comes amid gang-related controversies surrounding the hotel.

    For upcoming community events, we have the WinterFest Ball Drop and various other activities planned for the next few days. Be sure to check out local listings for more information.

    In local school achievements, the Pebble Hills High School band recently made history by performing in the Tournament of Roses Parade in California. Congratulations to them on this incredible achievement.

    On a feel-good note, El Paso filmmaker Jacqueline Baylon's documentary has been shortlisted for an Oscar nomination. This is a fantastic recognition of our city's talent and creativity.

    Finally, in our crime report, we have news of human smuggling arrests linked to a woman's death in El Paso. The El Paso Police Department is urging caution around homeless camps expanding across the city.

    This has been El Paso Local Pulse. We'll see you tomorrow with more local updates.
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