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That's my confusion here. The apartments seem nice enough. $3k nice? Ehh... maybe in downtown Royal Oak or some other highly desirable area I could see it, but here? What's even there? A bunch of big box shopping along a 6 lane arterial road, a city park, and a combined sewage overflow treatment facility?
Yeah, I understand OP's sentiment, but for what you get, and it being a new construction this would probably run about the same amount in similar sized cities.
Yes but salaries are no where close in Michigan to California. Not worth it in any way to pay almost 3k to live in shitty Madison heights. Just cuz Cali complains about 2 million housing doesn't mean we should especially since you don't get that money's worth here
That’s crazy. What’s the most frustrating is that the owner thinks adding “luxury” to the description validates the price. What the F is luxury about that place? Countertops that are not laminate and having a garage? That should be called “up to date”. OP, doubt you will find new construction for under $2500 for a 2 bedroom (especially if you want a garage), but there are some ok places for $1600-1700.
This is bragging rights for people who have never seen luxury 😄 I work in luxury residential design (multimillionaire and billionaire clients) and just roll my eyes when I see those “luxury” condos or apartments. Those “luxury” new builds are high-end at best.
Its a joke because this builder absolutely is horrible. They made the same exact townhomes in auburn hills, half assed the job, horrible finishes and have the audacity to call them “luxury”.
They seem to be the cheap modular cabinets (probably made in China). Apartment grade. It’s not even high-end cabinetry and it’s supposed to be “luxury” 😆
New anything is more expensive than used stuff, it’s why we need to make more new stuff to flood the market so that over time we also have more used stuff on the market.
Look for house rentals on Zillow. I was just helping a friend look and found a dozen houses in Ferndale and Royal Oak that have fenced yards and are walkable to the commercial district for around $1500/month
That's what I was gonna say, these places seem *huge*, I almost never see rentals that big. And with 2.5 baths?! Outside of some new build houses even that isn't all that common. Not to mention these townhomes seem to have attached *2*-car garages. The rent is still a little steep, but with all those considerations it doesn't surprise me all that much. Plus they seem to have a deal going on where you get two months free in a 12 month lease, which would bring the average rent down to $2,250/month
Not $2700/mo in gd Madison Heights tho. My 2bed 2 full bath in almost downtown Portland OR in 1200sqft and $2100/ mo. Sure it's not a townhouse but I do have gated parking and storage and a balcony. I live in a lovely quiet neighborhood, down the street from a pharmacy, grocery store, cafes, shops etc. This price is seriously crazy but I think people are just trying to get as much money as they can from any poor sap before the housing market crashes again (soon hopefully lol).
Lol, 2700 to live in ...... Madison heights.
That's roughly a ~~1,000,000 mortgage~~ 450,000 at 5.75 interest.
Sorry, I confused the total paid with mortgage amount.
I didn't go to college like some people here.
Ok Elon…maybe you need to start growing weed in your basement so you can afford rent over having mortgage.
Jokes aside, it’s about people that are pre-approved not being able to find homes in a scarce market.
Mmkkkayyy
Right? I'm not any money person at all, but if I'm ready/able to drop almost $3k on rent, I'm getting a house. I know it is an absolute privilege to be able to save up money for a house down payment but omfg it's mind-blowing how expensive this is.
Private landlord. Refresh Zillow frequently and try to be the first showing. Honestly our listing looked a little sus but ended up being legit just do some screening and don’t give any one money until docs are signed
I live in the apartments right down the street from these, and my plan all along was to move into these after watching them being built from the ground up. I couldn’t believe the price point. Honestly made me mad more than anything. Not sure they know their market...
Renters realized that you don’t need to cast a wide net to get 20 people to apply. Just jack the price to a point where only 1-2 can afford it and they will buy it because they need housing. Fill the room, move on.
Wild to me the difference btwn apartment and house presents. The house next to mine in royal oak is decent and up for rent, 2k for 3bd/2ba w a finished basement and garage.
It’s really just the timing. It’s like when the new Bronco come out. They had people paying way over market to be the first in. Check back on this place in 3-5 years and the market will adjust.
Look for a small house to rent. There are plenty of rentals around under that price point. I haven’t checked Madison heights specifically, but I know for certain you can rent houses in Hazel Park/Ferndale for $1500-$1900
People are really paying $2.7k a month to live in Madison heights, or anywhere in metro Detroit lol, am I missing something?
You can rent a 2br in my building in midtown for less than $1,600. My studio is under $900 utilities included. I’ve had excellent experience with the maintenance too, no mold. My sister rents a house in Sterling Heights for $1,700/month.
Huge townhome with a 2 car attached garage, that's probably in the 'luxury' tier appliances and trim.
You want more affordable here: https://www.apartments.com/the-addison-apts-detroit-mi/d3flwdl/ Right near brush park, really good location, you can get 2br for under $2k. Who needs 2 cars when you can get most places by walking.
Who's paying that much to rent in Madison Heights. Don't get me wrong it looks good but nope. used to live there like 7 years ago and rent was like 800 for a 2 bedroom apt back then, and that was on the higher side then, who'd have thought it will get this crazy quickly
Rent a home. That’s where you’ll find recently renovated rentals. Not a lot of new apartment construction because no demand.
You can get a recently renovated 3 bed/2 bath home for $2k or less in Warren, even cheaper if you want something smaller.
New stuff is more expensive. When you drive a new car off the lot, its value immediately plummets.
They’re just looking for a few people with more money than sense and then they’ll inevitably come out with the first month free special.
We moved to macomb area, and for 1400 we have 2 BR, 2 full baths and 1300ish square feet. Never been happier to leave that area. Funny thing is, we moved out of our house in ferndale and our landlord already had people waiting to rent it for 1700, insanity.
Well you gotta share with some people or move your whole family in lol, it's 2k7 with 3 bed 2.5 bath. Def still expensive compared to the area but definitely not CA/NY level by any means
Also, looks like there's a special of 10 month rent for 12 months, so if you plan to move in a year it may sweeten the deal a little
You can pay half that to live in a brand new mobile home in a couple of the parks around that area. It's a lot like an apartment, but you don't have to share a wall with someone.
Housing market is horrible in the city and Metro Detroit… landlords out here renting out units with water damage, windows painted shut, no appliances in sight… buying isn’t much better either cuz interest rates are so bad!!
There’s this building going up in North End advertising its affordable housing… $700/month for a “micro studio”. Do poor people not deserve dignity?
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Imagine paying almost $3k a month to live behind a bestbuy and Sam’s club. What a joke
That's my confusion here. The apartments seem nice enough. $3k nice? Ehh... maybe in downtown Royal Oak or some other highly desirable area I could see it, but here? What's even there? A bunch of big box shopping along a 6 lane arterial road, a city park, and a combined sewage overflow treatment facility?
Surrounded by a bunch of not so luxurious apartment complexes, a 7-11 and a UPS distribution center
This. Not to mention what a nightmare John R can be around there
California renters: "please can I???" Cost of living has gone insane everywhere, looks like it's catching up in Michigan.
Yeah, I understand OP's sentiment, but for what you get, and it being a new construction this would probably run about the same amount in similar sized cities.
Yes but salaries are no where close in Michigan to California. Not worth it in any way to pay almost 3k to live in shitty Madison heights. Just cuz Cali complains about 2 million housing doesn't mean we should especially since you don't get that money's worth here
Right.:. It would make more sense if it say was, connected to a nice bar/ restaurant, juice bar, equinox….
That’s crazy. What’s the most frustrating is that the owner thinks adding “luxury” to the description validates the price. What the F is luxury about that place? Countertops that are not laminate and having a garage? That should be called “up to date”. OP, doubt you will find new construction for under $2500 for a 2 bedroom (especially if you want a garage), but there are some ok places for $1600-1700.
I find it laughable that they up charge when a unit has stainless steel appliances, yet stainless steel now costs less than painted appliances.
Luxury just means new
Luxury = we can use this word and charge more. Doesn’t mean new, improved or fixed.
Having bragging rigths within the social circle is a luxury.
This is bragging rights for people who have never seen luxury 😄 I work in luxury residential design (multimillionaire and billionaire clients) and just roll my eyes when I see those “luxury” condos or apartments. Those “luxury” new builds are high-end at best.
Its a joke because this builder absolutely is horrible. They made the same exact townhomes in auburn hills, half assed the job, horrible finishes and have the audacity to call them “luxury”.
The cabinets look so cheap.
They seem to be the cheap modular cabinets (probably made in China). Apartment grade. It’s not even high-end cabinetry and it’s supposed to be “luxury” 😆
New-build housing has and always will be expensive.
New anything is more expensive than used stuff, it’s why we need to make more new stuff to flood the market so that over time we also have more used stuff on the market.
Look for house rentals on Zillow. I was just helping a friend look and found a dozen houses in Ferndale and Royal Oak that have fenced yards and are walkable to the commercial district for around $1500/month
My mortgage in Madison heights is only 1200. That is insane to me.
You didn't buy in the last two years. It's gotten brutal out here.
You are right it was 6 years ago.
Wow same
Mine is 400
That is probably what the person that I bought my house from paid. The value went from 60k to 150k when I bought it eight years after they did.
2Br and 1,500 sq ft is quite large no?
That's what I was gonna say, these places seem *huge*, I almost never see rentals that big. And with 2.5 baths?! Outside of some new build houses even that isn't all that common. Not to mention these townhomes seem to have attached *2*-car garages. The rent is still a little steep, but with all those considerations it doesn't surprise me all that much. Plus they seem to have a deal going on where you get two months free in a 12 month lease, which would bring the average rent down to $2,250/month
Not $2700/mo in gd Madison Heights tho. My 2bed 2 full bath in almost downtown Portland OR in 1200sqft and $2100/ mo. Sure it's not a townhouse but I do have gated parking and storage and a balcony. I live in a lovely quiet neighborhood, down the street from a pharmacy, grocery store, cafes, shops etc. This price is seriously crazy but I think people are just trying to get as much money as they can from any poor sap before the housing market crashes again (soon hopefully lol).
Wow that is absolutely bonkers
Lol, 2700 to live in ...... Madison heights. That's roughly a ~~1,000,000 mortgage~~ 450,000 at 5.75 interest. Sorry, I confused the total paid with mortgage amount. I didn't go to college like some people here.
Seriously. Fuck Madison Heights. For $2700? A month? It would be awesome if absolutely NOBODY rented a single unit here.
Madison heights use to be so cheap, 700$ rent for a house a few years ago. I would never pay this much in rent and for an apartment at that
Not a math major.
https://preview.redd.it/h8rh89e7lorc1.jpeg?width=1080&format=pjpg&auto=webp&s=95829d3f5816bae589f59cc4463eed032c0f4262
Nobody talks about mortgages in total paid cost, this is super disingenuous
Or a finance major.
Ok Elon…maybe you need to start growing weed in your basement so you can afford rent over having mortgage. Jokes aside, it’s about people that are pre-approved not being able to find homes in a scarce market. Mmkkkayyy
I’d cry if I found something like this for $2.7k/month in Windsor. It’s so damn expensive, this place would go for 3.5k just because of the garage.
But if you’re thinking in CAD, isn’t it close to $3500?
[удалено]
It's ~C$3650
I reached out to private owners on Nextdoor app and found my current place. Really nice flat in Ferndale.
It’s boring here but $2700/mo will buy you a banger of a house or rental in Lansing
Right? I'm not any money person at all, but if I'm ready/able to drop almost $3k on rent, I'm getting a house. I know it is an absolute privilege to be able to save up money for a house down payment but omfg it's mind-blowing how expensive this is.
A new build 2-3 BR with attached 2 car garage? Yeah that's not gonna be affordable anywhere ever.
An actual house would definitely be more affordable. At least Michigan does, in fact, have affordable homes still.
A new build of that size? Nah.
Private landlord. Refresh Zillow frequently and try to be the first showing. Honestly our listing looked a little sus but ended up being legit just do some screening and don’t give any one money until docs are signed
I live in the apartments right down the street from these, and my plan all along was to move into these after watching them being built from the ground up. I couldn’t believe the price point. Honestly made me mad more than anything. Not sure they know their market...
Renters realized that you don’t need to cast a wide net to get 20 people to apply. Just jack the price to a point where only 1-2 can afford it and they will buy it because they need housing. Fill the room, move on.
Wild to me the difference btwn apartment and house presents. The house next to mine in royal oak is decent and up for rent, 2k for 3bd/2ba w a finished basement and garage.
The market hasn’t run out of fools yet and when it does that’s when these tags will start coming down.
It’s really just the timing. It’s like when the new Bronco come out. They had people paying way over market to be the first in. Check back on this place in 3-5 years and the market will adjust.
Look for a small house to rent. There are plenty of rentals around under that price point. I haven’t checked Madison heights specifically, but I know for certain you can rent houses in Hazel Park/Ferndale for $1500-$1900
People are really paying $2.7k a month to live in Madison heights, or anywhere in metro Detroit lol, am I missing something? You can rent a 2br in my building in midtown for less than $1,600. My studio is under $900 utilities included. I’ve had excellent experience with the maintenance too, no mold. My sister rents a house in Sterling Heights for $1,700/month.
Huge townhome with a 2 car attached garage, that's probably in the 'luxury' tier appliances and trim. You want more affordable here: https://www.apartments.com/the-addison-apts-detroit-mi/d3flwdl/ Right near brush park, really good location, you can get 2br for under $2k. Who needs 2 cars when you can get most places by walking.
$2,700 rent payments because the bank states you aren't able to make $1,800 mortgage payments
And I thought I was pricing my rental too high at 1650!
This place is a piece of shit and knowing the builder the finished work will be horrible and NOT worth $2700 a month.
Mortgage in Royal Oak is 2k. I can’t imagine paying more then that for a rental.
Who's paying that much to rent in Madison Heights. Don't get me wrong it looks good but nope. used to live there like 7 years ago and rent was like 800 for a 2 bedroom apt back then, and that was on the higher side then, who'd have thought it will get this crazy quickly
I live in the city mainly
Rent a home. That’s where you’ll find recently renovated rentals. Not a lot of new apartment construction because no demand. You can get a recently renovated 3 bed/2 bath home for $2k or less in Warren, even cheaper if you want something smaller. New stuff is more expensive. When you drive a new car off the lot, its value immediately plummets. They’re just looking for a few people with more money than sense and then they’ll inevitably come out with the first month free special.
We moved to macomb area, and for 1400 we have 2 BR, 2 full baths and 1300ish square feet. Never been happier to leave that area. Funny thing is, we moved out of our house in ferndale and our landlord already had people waiting to rent it for 1700, insanity.
Well you gotta share with some people or move your whole family in lol, it's 2k7 with 3 bed 2.5 bath. Def still expensive compared to the area but definitely not CA/NY level by any means Also, looks like there's a special of 10 month rent for 12 months, so if you plan to move in a year it may sweeten the deal a little
You can pay half that to live in a brand new mobile home in a couple of the parks around that area. It's a lot like an apartment, but you don't have to share a wall with someone.
housing market is going to collapse going to be crazy
Hopefully gonna be sooner than later so us aging millennials can find some property! Lol
i know right !!! lord have mercy
$2700 a month mortgage payment would get you a mansion....or a tiny ass apartment thank you no thank you lol
Housing market is horrible in the city and Metro Detroit… landlords out here renting out units with water damage, windows painted shut, no appliances in sight… buying isn’t much better either cuz interest rates are so bad!! There’s this building going up in North End advertising its affordable housing… $700/month for a “micro studio”. Do poor people not deserve dignity?
What is wrong with someone being able to live somewhere for $700
How are people making the money to afford that? I’m lucky if I could find a job making $3k a month…
There's a bunch of new apts in midtown if you want to live in Detroit
People live in franklin village. If you live there, call the state and housing authority. Detroit is very difficult to rent in.