Development

Rent is increasing faster than income nationwide, putting additional pressure on inflation-burdened households, Axios' Emily Peck writes.

State of play: The median renter in the U.S. would need to spend 29.6% of their monthly income to make an average rent payment in the first quarter of 2023, per a report from Moody's Analytics.

Arkansas Children's earlier this month announced a $318 million expansion to include new construction, redesign and additional staff at its Little Rock and Springdale hospitals.

Why it matters: The hospital is in a position to serve as a hub for pediatric care for a four-state region. The development project aims to help kids who live in NWA and nearby out-of-state areas get the care they need closer to home, president and CEO Marcy Doderer told Axios.

The Scott Family Amazeum will receive millions for its first major expansion since the interactive children's museum opened in 2015.

What's happening: Lee and Linda Scott, along with their sons Eric and Wyatt and daughters-in-law Elda and Janell, announced Thursday they will give $10.35 million to the science-focused center that bears the family name.