The cost of one bedroom rent

[Dottleshead ★]

Bellingham WA is about 90,000 people. There’s a public university in this town, a small waterfront, and two gas refineries in the county but really not much else. The average rent here is ridiculous in my view.

 

https://www.bellinghamherald.com/news/local/article277393063.html

 

I bet it’s sucky where you live too.

[Dirtyhip]

It is our destination tomorrow. 

You have wonderful trails here. We have been at Raging River trail network. The trails are just great. We were at Tiger Mtn yesterday. I am impressed.

[Dirtyhip]

It is our destination tomorrow. 

You have wonderful trails here. We have been at Raging River trail network. The trails are just great. We were at Tiger Mtn yesterday. I am impressed.

[Parsnip Totin Jack ★]

Your link doesn’t linky. A 2,100 square foot house near us is renting for $4,200 a month. It’s an hour west from Dulles airport. In Fairfax our rent was $3,200 a month. In 1981, I rented a three bedroom house on an acre in Tysons Corner with two other guys for $900 a month.

[dinneR ★]

Avg. local rates in JH if you can find something. Mostly, you get on a waiting list. 

 

• Studio Units: $2,639.38/month
• One Bedroom Units: $2,628.31/month.
• Two-Bedroom Units: $4,172.18/month.
• Three-Bedroom Units: $3,982.00/month.

 

[MickinMD ★]

The cost of renting is higher than the cost of buying and paying a mortgage in some areas.

My brother and wife rent a house for $1800/month that's worth about $220K.  The mortgage at a high 7% plus escrow plus homeowners insurance would only be in the ballpark of $1800/month.

Of course, there's maintenance required.  My SiL, a CPA, refinanced the mortgage when they were 2+% interest and it's costing less than the $1800 - $100 agency handling fee to pay for everything.  She says, at worst, she's breaking even and gaining equity even if she has to replace the furnace, etc.

[groupw]

Rent everywhere is higher than a mortgage payment. A lot of landlords need to profit after making THEIR mortgage payment on the property. Our son’s studio apartment is more than our mortgage. Yes we have equity from the old property, but still. 

[maddmaxx ★]

If I didn't own a house with the mortgage paid off I'd probably be living in a cardboard box now.

[Ralphie ★]

9 hours ago, Parsnip Totin Jack said:

Your link doesn’t linky. A 2,100 square foot house near us is renting for $4,200 a month. It’s an hour west from Dulles airport. In Fairfax our rent was $3,200 a month. In 1981, I rented a three bedroom house on an acre in Tysons Corner with two other guys for $900 a month.

https://www.bellinghamherald.com/news/local/article277393063.html

[Dottleshead ★]

$1,412. I can’t imagine it. I mean I can. My mortgage isn’t much higher .

[Dottleshead ★]

10 hours ago, dinneR said:

Avg. local rates in JH if you can find something. Mostly, you get on a waiting list. 

• Studio Units: $2,639.38/month
• One Bedroom Units: $2,628.31/month.
• Two-Bedroom Units: $4,172.18/month.
• Three-Bedroom Units: $3,982.00/month.

Brutal. 

[Ralphie ★]

1 hour ago, Dottleshead said:

Brutal. 

But pro tip-go for three bedroom over the 2!

And the 1 bedroom over the studio. 

[JerrySTL ★]

It's the old supply and demand thing driving up costs. Many places, such as San Francisco, have zoning rules that make it about impossible to build housing at any cost.

[Kirby]

My town doesn't have a lot of apartments for rent.  Most of the rentals are condos that are being leased by the individual owners and because there are so few, the rents are high. They also tend to be temporary because eventually the owners decide to sell.  My parents lived in the same apartment building for decades in NYC, but that's very rare in my area.

[MoseySusan]

The average “comfortable” salary in Albuquerque is a little over $30,000. Wages from $19-$22 an hour are good paying jobs. 
Rent has increased 4-6% in the last year. Averages:
1 bedroom- 995

2 bedroom- 1,305

3 bedroom- 1,993

 

[Razors Edge ★]

18 hours ago, Dottleshead said:

The average rent here is ridiculous in my view.

Quit your whinging!

 

LONDON—Lola Agabalogun recently responded to an ad for an apartment only to find 100 other renters had called about the same flat in Hackney, one of the city’s trendiest neighborhoods.

So the 27-year-old ex-New Yorker did what a growing number of other desperate tenants are doing in London these days, and what some landlords are even requiring. She pulled out her laptop and wrote what she described as a love letter to the anonymous landlord, describing how wonderful the flat and neighborhood were. She even mentioned personal details like her love for tennis.

No matter. She was outbid to the tune of £400, or about $520, a month.

In New York, “You show up and if you have the right documentation you get the place,” she said. “Here, there is more of a dance.”

London rentals have been tight since a pandemic surge in home sales took thousands of rental flats out of the city’s already tight supply. Then, hordes of workers and students returned to the city. Average rent has soared 49% from the April 2021 pandemic low, according to real estate agency Knight Frank, the second-sharpest growth of any major global city after New York.

“When the phone started blowing up I actually considered pulling the plug out of the line,” real-estate agent James Dainton said of one particularly hectic period last summer. “I said to the team, ‘How do we actually deal with 70 to 80 applicants?’ We try to be as fair as we can, but at the same time when you’ve got that many inquiries, you’ve got to be a little bit cutthroat.”

 

That means raising tenant requirements—including paying multiple months of rent in advance, having family members or friends cosign the lease and even requiring that tenants tell the landlord a bit about themselves. 

Personal statements, long used by real estate buyers to pull on sellers’ heartstrings to win a coveted property, are now part of London’s rental world, used by landlords to discern whether tenants are a good fit, agents said.

Potential tenants discuss their hobbies, weekend activities, alma maters and other interests, Dainton said. One recent client, an American expat, boasted about his athletic prowess. “He told me he can run a 5K in 15 minutes,” Dainton said. “I was gobsmacked—I can’t get lower than 24 minutes.”

The runner didn’t get the flat.

Carman Leung, a 26-year-old recruiter from Sydney, distributed a PDF file to agents that included career highlights, hobbies such as aerial hoop—in which she strikes acrobatic movements from a metal ring suspended in the air—and her ability to speak Spanish and Cantonese. After multiple attempts she found a place, for a rent that was 25% over her budget. She said she wasn’t sure if it was her willingness to pay the price or her note that finally persuaded the landlord.

 

 

[Dottleshead ★]

Whining?!?? You got it all wrong RE. I’m basking in gratitude.

[goldendesign]

My sister is renting a 900 sq ft apartment in a decent area, but not great, for $1600 a month. It also has mandatory cable and internet, so she cannot opt out or go with a competing product. Her out-of-pocket for housing then is around $1790 a month. 

My mortgage, taxes, and utilities cost less than that. We refinanced the house three years ago at 1.8%

Even with the market crazy, we've been looking at buying a second home for investment, hell even just a place my sister could pay rent. The housing market is fucking nuts. I just searched Pinellas County, removed homes over $400k, and not in 55+ communities. This was my only choice:
https://redf.in/SFMdaS
 

3

Beds

1.5

Baths

790

Sq Ft

$199,000

For a 1970s shithole of a singlewide in a crappy part of a desirable hamlet of the county. Unbelievable.  

 

[Dottleshead ★]

Yep.