4 ms·
What are typical rents for 2 or 3 bedroom apartments that are located in safe neighborhoods?
by jftuga 2y ago
What are typical rents for 2 or 3 bedroom apartments that are located in safe neighborhoods?
- voberoi 2y agoEasily $4K+
- gnulinux 2y agoIn very expensive cities like NYC, Boston, SF it'll be $4k+ for 1 to 2 bedrooms, $5k+ for 2 to 3 bedrooms. If you have 2 buddies and going on a $5500 3 bedroom in Boston, you'll likely be requested first rent + last rent + deposit + broker fee (=1 rent) = 4 * rent = $22k just to get the keys. That's $7300 per person. This is only to get the key, the next month you pay rent #2. If you're going on a $4k 1 bedroom by yourself (or with your partner) you'll be hit with 4 * 4=$16k upfront cost, or $8k if you're lucky and have a partner. Renting is extraordinarily expensive in big cities in the US right now. I'm sometimes surprised people can survive this market. I make ~$150k a year in a lucrative software engineering role, and rent is still too expensive for me. It's very difficult for e.g. teachers, researchers etc making ~$70k a year etc. Some cities will be cheaper, some will be more expensive. E.g. I know that Philadelphia is particularly cheap when it comes to cost of living. Chicago is expensive, but seems to be slightly cheaper than NYC/Boston etc...
- standardUser 2y agoThat's a bit outdated. NYC and the entire state of California have banned landlords from requiring both last months rent in addition to a security deposit, and the security deposit can be no more than 1 months rent. I imagine some other cities have done the same. Where I live, in a desirable Manhattan neighborhood with an old building stock, you can find a decent 1-bedroom for around $3500/mo and move in for a total of $7k. If you hunt for a deal and can make a few sacrifices, you can bring that down to $6k.
- gnulinux 2y agoOh that's very good to know, I stand corrected. I last moved late 2023 (Boston) and I was interested in market in a few cities around that times. It's always great to hear local governments can make progress for the people.
- standardUser 2y ago> It's always great to hear local governments can make progress for the people. Sometimes it seems like they are the only governments that can!
- throwaway2037 2y agoWhy is it so expensive to rent in Boston? I am surprised to see it in your list. The economy isn't nearly as large as NYC or SF(+nearby cities). The only explanation I can think of: NIMBY/BANANA: It is almost impossible to add new units (housing stock).
- rangestransform 2y agoRenting is actually not that expensive in NYC relative to buying a condo of similar size and quality, I punched in numbers for a 2b2b in LIC and it’s just about a wash over 10 years
- fragmede 2y agoDid you also model increase in net worth after 10 years given a semi-fixed income and excess money going to the SP500 vs the condo?
- rangestransform 2y agoI think the NYT rent or buy calculator prices that in
- neom 2y agohttps://streeteasy.com/for-rent/williamsburg/description:lorimer%20l%7Cin_rect:40.708,40.720,-73.962,-73.939 https://streeteasy.com/for-rent/williamsburg/description:lor...
- underlipton 2y agoWhat constitutes a safe neighborhood? One's personal definition could mean $1000/m difference compared to someone else's.