The High Cost of Rent!

[JackLuis]

Here's the salary you need to afford rent in 10 of the largest US cities

Why are so many trapped in the cycle of near poverty?


Dallas, Texas
Income needed to pay rent: $62,700
Average cost of renting a two-bedroom in 2016: $1,463
Percent change from 2015: 10.2%

Miami, Florida
Income needed to pay rent: $90,300
Average cost of renting a two-bedroom in 2016: $2,107
Percent change from 2015: 8.7%

Seattle, Washington
Income needed to pay rent: $98,271
Average cost of renting a two-bedroom in 2016: $2,293
Percent change from 2015: 7.3%


Los Angeles, California
Income needed to pay rent: $145,629
Average cost of renting a two-bedroom in 2016: $3,398
Percent change from 2015: 17.1%

This is Apartments not homes. This is figured as 28% of income for rent.

 

[BotanyBoy]

San Francisco is insane........

 

[mark_j]

Here's the salary you need to afford rent in 10 of the largest US cities


This is Apartments not homes. This is figured as 28% of income for rent.

Yeah? Okay.. so the bigger question is what do you think the solution is?

 

[BotanyBoy]

Yeah? Okay.. so the bigger question is what do you think the solution is?

There is no solution.

The cost is a matter of money, desire and square feet.

The high cost joints are desirable spots of limited availability and nothing will change that. SF and NY are both major ports, super huge commerce stations with a very small limited amount of real estate.

Dallas is cheap because it's north central Texas, it's not good looking, the climate/environment there is shit and they got all the space they need. It's low value.

 

[Liar]

Here's the salary you need to afford rent in 10 of the largest US cities

Why are so many trapped in the cycle of near poverty?


Dallas, Texas
Income needed to pay rent: $62,700
Average cost of renting a two-bedroom in 2016: $1,463
Percent change from 2015: 10.2%

Miami, Florida
Income needed to pay rent: $90,300
Average cost of renting a two-bedroom in 2016: $2,107
Percent change from 2015: 8.7%

Seattle, Washington
Income needed to pay rent: $98,271
Average cost of renting a two-bedroom in 2016: $2,293
Percent change from 2015: 7.3%


Los Angeles, California
Income needed to pay rent: $145,629
Average cost of renting a two-bedroom in 2016: $3,398
Percent change from 2015: 17.1%

This is Apartments not homes. This is figured as 28% of income for rent.

I think I could probably figure it out given the given numbers, but I'd have to Math and I don't wanna. This is monthly rent? Weekly?

 

[Rachel_X]

I think I could probably figure it out given the given numbers, but I'd have to Math and I don't wanna. This is monthly rent? Weekly?

It seems to be the weekly cost of renting, what I assume, are palaces and mansions in the respective areas.
Either that or someone is getting shafted on rent.

 

[Liar]

Also:

This is Apartments not homes.

Something about this don't translate. Either the word "apartment" or the word "home" doesn't mean the same to you as it does to me.

 

[Liar]

It seems to be the weekly cost of renting, what I assume, are palaces and mansions in the respective areas.
Either that or someone is getting shafted on rent.

Nah it looks like monthly now that I look at it. The rent*12 seems to be a little more than a quarter of the income, which looks yearly.

 

[Rachel_X]

Nah it looks like monthly now that I look at it. The rent*12 seems to be a little more than a quarter of the income, which looks yearly.

That would make sense.
That's still a large shafting pole those tenants are getting though.

 

[mark_j]

There is no solution.

Ya think?

The cost is a matter of money, desire and square feet.

The high cost joints are desirable spots of limited availability and nothing will change that. SF and NY are both major ports, super huge commerce stations with a very small limited amount of real estate.

Dallas is cheap because it's north central Texas, it's not good looking, the climate/environment there is shit and they got all the space they need. It's low value.

No kidding.. You want to live in the desirable places in the city, in a place that isn't a dump, then that is the cost of doing business.

The why is easy...

 

[BotanyBoy]

Ya think?

Well....you could make the uppity liberals eat their bleeding hearts and drop a million or two Syrians off in LA, SF, NYC, Chicago. That would bring the cost of living down real fast.

 

[underguy1]

That's financial capitalism for ya. Let the banks run wild, watch your real economy wither and die.

Whatta you gonna do about it?

Nothing.

 

[BotanyBoy]

That's financial capitalism for ya.

No it's basic supply and demand.

 

[underguy1]

Naive and economically illiterate.

A whining combination.

 

[BotanyBoy]

Naive and economically illiterate.

A whining combination.

Oh look more shit talk and no facts.

http://i670.photobucket.com/albums/vv67/henktermaat/suprise.jpg

 

[underguy1]

You're just another moron that thinks he isn't one.

America seems to have the world's highest concentration of those.

In human history.

 

[BotanyBoy]

You're just another moron that thinks he isn't one.

America seems to have the world's highest concentration of those.

In human history.

Still can't can generate the tiniest shred of evidence to back your bullshit up.

All you can do is call people names....typical Libertoonian.

 

[sr71plt]

I highly recommend buying, and paying the mortgage off in fifteen years, before you retire.

 

[ncseeker]

Rents have gone up everywhere over the past couple of years. My rent went up an additional $50 a month.

The good news is that they have built way too many apartments recently and the leverage will start going back to the consumer, and away from the landlords.

 

[Boxlicker101]

Here's the salary you need to afford rent in 10 of the largest US cities

Why are so many trapped in the cycle of near poverty?


Dallas, Texas
Income needed to pay rent: $62,700
Average cost of renting a two-bedroom in 2016: $1,463
Percent change from 2015: 10.2%

Miami, Florida
Income needed to pay rent: $90,300
Average cost of renting a two-bedroom in 2016: $2,107
Percent change from 2015: 8.7%

Seattle, Washington
Income needed to pay rent: $98,271
Average cost of renting a two-bedroom in 2016: $2,293
Percent change from 2015: 7.3%


Los Angeles, California
Income needed to pay rent: $145,629
Average cost of renting a two-bedroom in 2016: $3,398
Percent change from 2015: 17.1%

This is Apartments not homes. This is figured as 28% of income for rent.

I don't know where you get some of those numbers. Until a year ago, my wife and I were paying $3,000 for a two-bedroom house, on a gross income of about $80,000 and were able to save money and to provide substantial financial aid to family members.

 

[Hypoxia]

I don't know where you get some of those numbers. Until a year ago, my wife and I were paying $3,000 for a two-bedroom house, on a gross income of about $80,000 and were able to save money and to provide substantial financial aid to family members.

US$3k/month = US$36k/year. 36/80= 45% -- almost half your gross went to your landlord. That is a FUCK of a lot of money to flush away.

Yes, it's down the shitter if you're not paying-off a mortgage and building equity. My partner and I figured that out in our first year, back when Jimmy Carter was still prez. Sure, if your other living costs are low, you don't feel the pain *too* much. If it does start to hurt, do what we did with our prior house: we bought a two-story place with our home upstairs and two-plus apartments downstairs. We rented to friends. THEY got to pay our mortgage!

 

[BotanyBoy]

US$3k/month = US$36k/year. 36/80= 45% -- almost half your gross went to your landlord. That is a FUCK of a lot of money to flush away.

Unless California, then pretty typical.

Especially for anything approaching decent in any of the major cities.

 

[JackLuis]

I don't know where you get some of those numbers. Until a year ago, my wife and I were paying $3,000 for a two-bedroom house, on a gross income of about $80,000 and were able to save money and to provide substantial financial aid to family members.

80 Grand is a lot higher than the income of ~50% of people in the USA. Minimum wage 40 hrs a week is only ~$15 grand, with some overtime. A guy who gets double minimum is still under $30 Grand a year.