at a premium
Meaning
In high demand and therefore scarce and/or expensive; difficult to obtain.
Origin
From the noun “premium,” meaning an extra amount paid above the usual price (an added charge). By the 18th–19th centuries, “at a premium” came to mean “available only with an added price,” and then more broadly “scarce/in demand.”
Notes
Often implies scarcity plus demand; can mean “expensive” or simply “hard to find.” Common in business/real-estate contexts; mildly formal.
Examples
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With so many people moving in, affordable apartments are at a premium in this neighborhood.
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During the heatwave, bottled water was at a premium and sold out everywhere.
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In a tight job market, candidates with strong AI skills are at a premium.
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Because the venue is small, tickets are at a premium and tend to disappear fast.
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When the server went down, reliable information was at a premium.
Grammar & Usage Notes
Usually used predicatively: “X is at a premium.” Also “at a premium price.” The phrase is fairly fixed; you can modify with adverbs (e.g., “always,” “currently”).
Synonyms
- in demand
- scarce
- hard to come by
- high-priced
- at a high price
Antonyms
- readily available
- in ample supply
- cheap
- plentiful