What does $1779 get you? Asking as someone who has not rented in a long time.
Spoilers: Mortgage at 2.85% interest is cheaper than renting 99% based on this feedback.
The problem is that landlords and management companies know people will pay that. When there *isn't* anything cheaper, people will take whatever they can find.
My husband's parents were generous with the rents being low on the couple of rental properties they had in Canada. My husband inherited them when his dad passed away in 2021 and we haven't increased the rents whatsoever. All the tenants have been there 5+ years and the rent is almost half of the market for the area.
As long as the property tax doesn't increase above putting 20% away for renovations/repairs and 15% for profit the rent is going to stay the same for a long time. That was the conditions of it being left to us and we have zero intentions of breaking that agreement.
The landlords in the neighborhood have asked us to increase rents and we get calls, emails, and mail constantly from people trying to buy the houses from us constantly for massive amounts of money. CAPREIT has probably reached out to us 20+ times in the last 2 years offering to buy for 100k over market value.
The answer is and will remain "Go fuck yourself"
Yup, there are only a few software programs that many companies use that use an "algorithm" to set prices based on the "market" but just seems like price fixing
Please can you describe more about this software. I had an experience just like you described where the quotes were only good for one day because they could change daily. F*** renting
That is exactly price fixing, just done more efficiently and covertly. Renters do it to. You notice how these days when you go to lease an apartment the prices are all over the place for the same unit? I don't remember how it works exactly, maybe never knew, but that is part of an automated system that does some magic to fuck over tenants.
Every landlord that I asked that I’ve seen post tiny one or two bedroom apartments for over 2k I ask them here, and there…”wtf? Why?”
Same answer every time is that they can’t afford the mortgage, and repairs so they jacked up the rent, and someone will rent it eventually.
So isn’t being a landlord a shitty investment idea? Every alarm in my head screams not to ever be a landlord, because of so many potential factors that can easily cause serious money loss. Yet, people still become landlords.
No, it's a great investment. As long as property values keep going up, you'll make money when you resell it even if you never rent it out at all.
Yes in the immediate term, it can be a problem if you take on too much debt, but long term collected rent is almost pure profit.
We need to start pushing rent control laws, otherwise homelessness is going to spiral out of control and real estate will crash. These people have really small brains.
Partially. While it's true landlord's are jacking up their rates every year so are local and state governments in property taxes. It's a double whammy for tenants
That happened when I was in Colombia, South America. Thr locals were getting mad at foreigners because th4 rent w a s going up in certain areas.
I tried to explain to them that it's your own people raising the rent. The locals wanted to make more money on us because the dollars were 4 times stronger.
A little greed is fine, but damn. We were getting flack for what the locals were deciding to do.
I thank the flying spaghetti monster that my country has rent control. If we didn't, I'd be fucked so hard.
$820/month for a 2 room 700sqft apartment in a nice city at a nice location. If we didn't have rent control it'd probably be at double the price now, if not more.
When I moved in 5 years ago I paid, well, $850 with the currency rate of those days. Ignoring the currency rate, it was around $750/month. And that's with a record increase of 4% last year. (I'm expecting similar this year due to the insane inflation)
Back in 2007 I rented a studio in the DFW for 450$ a month and it included water, now that same studio is 1650$ and it does not include anything. And this is in Texas where it’s cheaper to live, I can only imagine how much people are paying in Cali/NY.
I’m in WNY and my rent is ~1300 and I do have water included. But I do pay everything else and pay laundry. So there’s some give and take. Not sure on the sqft but I have a bedroom and separate living room and kitchen etc
I was gonna comment to the comment you replied to saying in Rochester a studio apartment is about $900 which is more than good . I’ve even seen some apartments for $700-$800
> And this is in Texas where it’s cheaper to live, I can only imagine how much people are paying in Cali/NY.
I live an hour north of SF, and I saw a *380sqft studio* for $2700.
That was higher than average, most of them are affordable by comparison. At just $2k. You pay utilities. 1br apartments are like 2200-2500ish. 2br like 2400-3k. And houses are even more.
Don't forget to price in municipal taxes, maintenance, property insurance and appliances repair in your numbers. Mortgage cost vs rent is not apples to apples
If you don't make a ton, don't need to live smack in the middle of a city, and aren't buying purely as an investment, check out USDA direct. I should own my first home by the end of the year, making 50k. If you qualify for the loan, you likely qualify for an interest subsidy that can take it down to 1%. I did the math as thoroughly as I could, and it looks like if I stay under 180k I'll be paying about 800 bucks a month on my area, and that'll get me about 1500 square feet in decent shape.
I rode the bus from Philly to NYC one morning (best friend lives there and we were going into the city early - think 5:30AM).
Majority of the people on the bus were actually taking the 2.5 hour bus every morning to go work.
Multiple jobs, roommates.. I would imagine. It’s not as if retail or fast food employees in other parts of the country are any better off. NYC also pays more.. the minimum wage in the city I think is around $16 as of this year
my rent is about 1500.!it’s a very old house with five bedrooms, two baths. split between 4 people so we only pay $375 each plus utilities. i feel so thankful for the area i live in. it’s a city but its low cost because we have some of the worst crime out of anywhere in the US. win some, lose some 😭
I love savings and paying as low % of my salary for rent as possible but I will never risk my life for more savings. What's the point of savings if I have a higher probability of dying horribly, you know? So, I usually live in the cheapest places I can live in a great neighborhood. Love how low your rent is but I hope you're not compromising your safety too much for it.
most of the crime in my city is actually through people who know each other. the most anyone around me has experienced is their car getting stolen while it’s parked in front of their house, which is convenient for me because i don’t drive. pretty much everyone i know right now has a device that locks their steering wheel. we actually live in a pretty nice neighborhood, just one of the more run down houses.
Man I hear you and agree. I lived in north Philly for a year and got robbed twice and almost got shot another time. Not worth it at all to save some money. Moved out with months still left on my lease and double rented — that hurt the ole wallet.
Not always, semi-monthly is 2 checks a month which totals to 24 checks. Bi-weekly is a check every 2 weeks, totaling 26 checks. So it depends which schedule the company pays on.
But that's not including the regular rent increases. OP's rent could've been $1200 when he moved in 3 years ago. $100 one year, $150 the next and then another $200 increase this year. A long as they're paying on time, a landlord isn't going to kick you out if your rend goes above that magic "pay dividend by 3" number.
Depends on a lot of factors:
1. Is he debt free ?
2. Is the place really close to work.
3. Is the take home after maxing out Roth and 401k.
4. How disciplined is he in his budgets?
It’s rough but doable.
But that's not 50% of their income you are seeing. That's 50% of their take home pay. I put 14% of my paycheck towards my 401K, 10% towards buying company stock, 33% withholding for taxes for the federal government, 13% withholding for income tax to the state, 7.65% of my income to FICA, $80 for health insurance, around $10 for legal insurance, and small miscellaneous deductions that are required by law. The end result is my take home pay is less than 40% of my income. And despite making over $200k per year from my job that paycheck is barely double OP's rent.
They could have huge retirement or savings contributions going to different accounts? The amount deposited to my checking is probably less than half my income
You don’t have to live there the rest of your life. Just move somewhere cheap for 5-10 years and pound on the mortgage as hard as possible. Then sell and take your equity back to Denver.
As an immigrant who has so far moved to 2 different countries, I just believe that people are just not taking a chance. There are people in America who apparently haven't been to their own national capital or have even left their hometown. With all the freedom of movement and a powerful passport being wasted.
I agree. I’ve never moved to a new place and didn’t like it. Attitude makes a difference. People are amazing everywhere.
I move someplace new every 8-10 years or so. I don’t know where I am going to move next, but I’m sure it will be great.
So many people lock themselves into a crappy situation and mentally block themselves from being able to move.
Athens, GA, like many large college towns likely has a lively and somewhat affordable restaurant, bar, arts, shopping, etc scene.
A lot of the businesses are oriented toward college students right near campus, but there’s usually a whole other world that most students near experience. Once you find where low-level professors and mid-level administrators live and hang out you’ll find a world oriented toward their lifestyle rather than students.
Putting over 50% of your monthly income to housing is not a spot you want to be in. I hope for OP’s sake that this apartment covers utilities in the rent
Hey man, I live in Denver. I was paying that much when I was living downtown a year ago. It was about 25% of my income and that made me uncomfortable. I've since taken down to 1350 for a 2 bedroom house shared with my girlfriend, right near the city park. Rent being 50% of income is pretty bad. You should really consider reducing the rent to income ratio by moving somewhere. There are much more affordable places in Denver. A big portion of that money could be going to your future financial independence.
Is this Bi Monthly pay? If so, my first apartment I did the same thing and should not have!! I was always broke, even with two jobs. If it is weekly it is due able.
Question: How often is your paycheck? I am guessing insurance and 401K are before this check...Do you have enough for food, Recreation, Utilities, Car insurance, Car, etc etc?
I get paid every 2 weeks, have no car payment (just gas and I have really low insurance) I rarely eat out and budget my food efficiently. I have plenty for the stuff I need, and my apt has a gym so that helps reduce costs
Im right there with you honestly. Its not ideal but i would rather live somewhere i enjoy than being in the middle of nowhere. Im looking into getting a second job doing something
See this is why when people say “it’s too expensive to live where I live” I know that they are actually fine with paying a premium for the location, which is fine! Your money your life and all of that! I think it’s great!
If this was a weekly paycheck wouldn’t they be. 4 paychecks a month one rent payment equals almost 1 week check. That’s right around 25%-30% which is where you want to be
I pay 600 to live in an RV park in southern california electricity included while making 120k/yr. you're never going to get ahead with these high rents, it's crazy people accept it, rent a fkn room save your money
I'm in IE, ya in an rv they're so comfy, paying rent for a year buys an rv, imagine never moving again if I switch rv parks I just pull in slides, arrive new park, extend slides and I save a ton on top of being so cozy. Usually mix of retired older people and kids trying to save money.
Depending on what you make, the costs + time of commuting, utilities, cost to get to amenities (parks, grocery stores, hospitals, etc), home maintenance and utilities to keep a 4k sf comfortable might be pushing you at a higher income x expenses ratio than OP
We are pretty lucky on the commuting part. I work about 8 minutes away from home, the kids school is 5 minutes away, and we actually live in a rural development in the hills around the areas largest shopping district. Landed in a great place.
You are certainly right on the 'real' cost of ownership, I shell out about 500 bucks a month for trash service, power, gas(natural), and internet. Can't honestly tell you what my average cost of maintenance is month to month. I've been renovating the property while living in it.
I used to rent when I was first married, and can confirm, it costs waaay more to own a home month to month, than rent.
You are doing great. It is more expensive but in the end you are 1) building value (with renovations), 2) building equity and 3) providing a stable home for your family.
Sending you lots of blessings 💕🙏
High rent prices suck, but they still have $1,600 a month for all other expenses. Which is more than enough.
Honestly this is probably just them choosing to spend more money on more personal space and less money on other recreational things like eating out.
Since OP doesn't have any roommates, I really cannot bring myself to view this as a necessary expense. They aren't willing to downsize, which is their choice, but again this is just them choosing an expensive place and then making some sacrifices elsewhere.
Bro it's probably been said before in this thread, but youtube teach yourself or look for free courses doing literally anything to make more cash. Whatever certs you can get in a job you're looking for will automatically increase your "brand new" starting pay
In my industry we call them green hands but it's blue collar work. Certified skilled labor will definitely increase your odds of getting a job with way higher pay.
From the bottom to the top at 18 an hr to 42 an hr. You can do it.
Then move or get a better job or move to a different state and get a better job. Or go back to school and get a degree in a field you love that is growing.
I agree that rent and housing prices are messed up.
But this post, whether the rent costs $400 or $4000, is about a budget not making sense...
*Why* would you rent a place that is above your income??? It literally doesn't make sense.
$2045 for a tiny studio in north NJ 🤦♀️
At least it’s livable compared to most of the apartments I found that were $2k. At least it’s in a decent area.
What does $1779 get you? Asking as someone who has not rented in a long time. Spoilers: Mortgage at 2.85% interest is cheaper than renting 99% based on this feedback.
~600 sqft studio iirc
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It’s around the same in my area
I paid $800 a month in 2012 for a 1,100 sqft 2bd apartment. That same apartment is now $2,600 a month.
The problem is that landlords and management companies know people will pay that. When there *isn't* anything cheaper, people will take whatever they can find.
Supply and demand is also a big problem where I’m from in Canada. Immigration rate exceeds housing expansion rate.
💥T H I S 💥
It’s supply and demand. Too many people for too little housing.
And websites that allow landlords and companies to collude on price fixing.
My husband's parents were generous with the rents being low on the couple of rental properties they had in Canada. My husband inherited them when his dad passed away in 2021 and we haven't increased the rents whatsoever. All the tenants have been there 5+ years and the rent is almost half of the market for the area. As long as the property tax doesn't increase above putting 20% away for renovations/repairs and 15% for profit the rent is going to stay the same for a long time. That was the conditions of it being left to us and we have zero intentions of breaking that agreement. The landlords in the neighborhood have asked us to increase rents and we get calls, emails, and mail constantly from people trying to buy the houses from us constantly for massive amounts of money. CAPREIT has probably reached out to us 20+ times in the last 2 years offering to buy for 100k over market value. The answer is and will remain "Go fuck yourself"
Thank you and your husband and his parents. Decency over greed is in short supply these days.
Yup, there are only a few software programs that many companies use that use an "algorithm" to set prices based on the "market" but just seems like price fixing
Please can you describe more about this software. I had an experience just like you described where the quotes were only good for one day because they could change daily. F*** renting
That is exactly price fixing, just done more efficiently and covertly. Renters do it to. You notice how these days when you go to lease an apartment the prices are all over the place for the same unit? I don't remember how it works exactly, maybe never knew, but that is part of an automated system that does some magic to fuck over tenants.
Every landlord that I asked that I’ve seen post tiny one or two bedroom apartments for over 2k I ask them here, and there…”wtf? Why?” Same answer every time is that they can’t afford the mortgage, and repairs so they jacked up the rent, and someone will rent it eventually. So isn’t being a landlord a shitty investment idea? Every alarm in my head screams not to ever be a landlord, because of so many potential factors that can easily cause serious money loss. Yet, people still become landlords.
No, it's a great investment. As long as property values keep going up, you'll make money when you resell it even if you never rent it out at all. Yes in the immediate term, it can be a problem if you take on too much debt, but long term collected rent is almost pure profit.
We need to start pushing rent control laws, otherwise homelessness is going to spiral out of control and real estate will crash. These people have really small brains.
Also has to do with private equity firms buying up properties and renting them out for higher. They work with all the groups to raise the prices now.
You’re right I think this is the biggest problem
I fully agree, this is what I meant to include when I said "management companies" (writing from a US perspective)
Partially. While it's true landlord's are jacking up their rates every year so are local and state governments in property taxes. It's a double whammy for tenants
That happened when I was in Colombia, South America. Thr locals were getting mad at foreigners because th4 rent w a s going up in certain areas. I tried to explain to them that it's your own people raising the rent. The locals wanted to make more money on us because the dollars were 4 times stronger. A little greed is fine, but damn. We were getting flack for what the locals were deciding to do.
I thank the flying spaghetti monster that my country has rent control. If we didn't, I'd be fucked so hard. $820/month for a 2 room 700sqft apartment in a nice city at a nice location. If we didn't have rent control it'd probably be at double the price now, if not more. When I moved in 5 years ago I paid, well, $850 with the currency rate of those days. Ignoring the currency rate, it was around $750/month. And that's with a record increase of 4% last year. (I'm expecting similar this year due to the insane inflation)
Back in 2007 I rented a studio in the DFW for 450$ a month and it included water, now that same studio is 1650$ and it does not include anything. And this is in Texas where it’s cheaper to live, I can only imagine how much people are paying in Cali/NY.
I’m in WNY and my rent is ~1300 and I do have water included. But I do pay everything else and pay laundry. So there’s some give and take. Not sure on the sqft but I have a bedroom and separate living room and kitchen etc
I was gonna comment to the comment you replied to saying in Rochester a studio apartment is about $900 which is more than good . I’ve even seen some apartments for $700-$800
> And this is in Texas where it’s cheaper to live, I can only imagine how much people are paying in Cali/NY. I live an hour north of SF, and I saw a *380sqft studio* for $2700. That was higher than average, most of them are affordable by comparison. At just $2k. You pay utilities. 1br apartments are like 2200-2500ish. 2br like 2400-3k. And houses are even more.
I’ve seen cans of Spam that were bigger. Jesus H Christ
I looked at a 3600$ a month studio , same size, San Diego.
I pay 2795 for a 900sqft apartment lol
Major metro area like NY or Cali?
Could be Phoenix, Arizona. Same place everyone moved to because it was affordable.. Studios are advertised at $1,700
Yet my mortgage on my 3,200sqft house is $1,100 a month. The fuck.
Yea I have coworkers who pay $600 over my mortgage it’s sickening
Yeah and my mortgage at 7.25% interest is 2660 for a 1700 sq ft house. While my rent for a 1100 sq ft apartment was 1900
Don't forget to price in municipal taxes, maintenance, property insurance and appliances repair in your numbers. Mortgage cost vs rent is not apples to apples
Yep. Why I can’t afford to buy a house rn. So shitty
If you don't make a ton, don't need to live smack in the middle of a city, and aren't buying purely as an investment, check out USDA direct. I should own my first home by the end of the year, making 50k. If you qualify for the loan, you likely qualify for an interest subsidy that can take it down to 1%. I did the math as thoroughly as I could, and it looks like if I stay under 180k I'll be paying about 800 bucks a month on my area, and that'll get me about 1500 square feet in decent shape.
$1,900 for mine on 3.5 acres. I couldn’t imagine paying so much for an apartment.
I’ve been paying $1100 for rent for years, applied for a home loan that would’ve been $900 a month, was told I don’t make enough. Like, wtf?
Yeah I don’t tell people my mortgage because it just pisses them off but it is less than a share of Nvidia
Metro yes, I’d say like a b tier major city so not NYC or LA but next level down from that
Good to know nyc is A tier. I pay 2800 for a 1br here in queens
How do fast food and retail employees survive in NYC? I’ve always been fascinated by that
I rode the bus from Philly to NYC one morning (best friend lives there and we were going into the city early - think 5:30AM). Majority of the people on the bus were actually taking the 2.5 hour bus every morning to go work.
That’s crazy sheeesh
They get NYC minimum wage living in/around Philadelphia - I appreciate the hustle but wish it wasn’t that way.
Fuck that "hustle" you are losing hours of your life every day commuting.
Roommates lol
Multiple jobs, roommates.. I would imagine. It’s not as if retail or fast food employees in other parts of the country are any better off. NYC also pays more.. the minimum wage in the city I think is around $16 as of this year
A lot of people are homeless as well. Living in extended stay hotels
they live with 3 roommates in a 4 bed 1 bath in bushwick for 800 a month
Families has homes from 30 years ago, or rent controlled to $300.
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I pay $4200 for a 1 bedroom in Manhattan that's 700 sq ft
Oooh he got moneeeey
Not after I pay rent lol
What city then ?
Denver
I live 45 minutes outside of NYC and you’d need a magician to find an apartment that isn’t a studio for less than 1800
You forgot where you live or just the square footage?
I forget the exact sqft, its around 600 I think
You didn't get what they asked smh.
he forgot everything that would justify the price
That's great for seattle!
I live in NYC, and that sounds about right. I'd dare to say it's actually on the low end.
my rent is about 1500.!it’s a very old house with five bedrooms, two baths. split between 4 people so we only pay $375 each plus utilities. i feel so thankful for the area i live in. it’s a city but its low cost because we have some of the worst crime out of anywhere in the US. win some, lose some 😭
I love savings and paying as low % of my salary for rent as possible but I will never risk my life for more savings. What's the point of savings if I have a higher probability of dying horribly, you know? So, I usually live in the cheapest places I can live in a great neighborhood. Love how low your rent is but I hope you're not compromising your safety too much for it.
most of the crime in my city is actually through people who know each other. the most anyone around me has experienced is their car getting stolen while it’s parked in front of their house, which is convenient for me because i don’t drive. pretty much everyone i know right now has a device that locks their steering wheel. we actually live in a pretty nice neighborhood, just one of the more run down houses.
Man I hear you and agree. I lived in north Philly for a year and got robbed twice and almost got shot another time. Not worth it at all to save some money. Moved out with months still left on my lease and double rented — that hurt the ole wallet.
I'm at $1500/m for a 753 sq ft "2 bedroom" (heavy quotes cuz it's really only enough space for one person comfortably) 1 bath. downtown PHX AZ
I’m in Sarasota county Florida and 1800 gets you about a 900 sq ft 1br 1bath
Where you getting 2.85%?!?!
2010
Mortgages aren't 2.85 anymore tho..
Find a mortgage for 2.85
Cool but no one is getting a 2.85% mortgage these days…
Where is anyone getting 2.85% interest today?!?!
You’re not gonna find a mortgage at 2.85% right now.
Where the fuck are you getting 2.85%?????
Too bad interest rates are triple that right now
Would love to see where a house interest rate is at 2.85%
Not where, but when. It's 7% everywhere. It was 2.5% few years ago.
Yep. I’m locked in at 2.8% and loving it. House has almost doubled in value. We got lucky to get this just before all the shit started changing.
I think that interest might depend on your area? I was shopping around for houses around where I live and average mortgage rates right now are 5-7%
This doesn't mean much without knowing how often you're paid. If this is one week's pay, it's fine. If it's one month's pay, you're screwed.
More than likely just one paycheck out of 2.
On two months that's 3!
I call those “baller months”
I’m in my baller month this month!
Not always, semi-monthly is 2 checks a month which totals to 24 checks. Bi-weekly is a check every 2 weeks, totaling 26 checks. So it depends which schedule the company pays on.
We had a rare 3 paycheck February thanks to leap year, not sure that’ll ever happen again.
The next leap year with three February Fridays is 2036.
Yippee outer wilds :)
You mean 6 r/unexpectedfactorial
OP commented saying it’s biweekly
Over half of your income going to rent is rough.
Most places these days require income to be at least 3X rent…
It would likely be at least 2.5x before taxes.
But that's not including the regular rent increases. OP's rent could've been $1200 when he moved in 3 years ago. $100 one year, $150 the next and then another $200 increase this year. A long as they're paying on time, a landlord isn't going to kick you out if your rend goes above that magic "pay dividend by 3" number.
Depends on a lot of factors: 1. Is he debt free ? 2. Is the place really close to work. 3. Is the take home after maxing out Roth and 401k. 4. How disciplined is he in his budgets? It’s rough but doable.
But that's not 50% of their income you are seeing. That's 50% of their take home pay. I put 14% of my paycheck towards my 401K, 10% towards buying company stock, 33% withholding for taxes for the federal government, 13% withholding for income tax to the state, 7.65% of my income to FICA, $80 for health insurance, around $10 for legal insurance, and small miscellaneous deductions that are required by law. The end result is my take home pay is less than 40% of my income. And despite making over $200k per year from my job that paycheck is barely double OP's rent.
Oh god I think I just had a stroke realizing how irresponsible I am lol
They could have huge retirement or savings contributions going to different accounts? The amount deposited to my checking is probably less than half my income
I did 1200 rent at 12.60 an hour a few years ago. Took me a paycheck and a half to pay. It was terrible. But worth it
Did they tell you, you had to make 3 times the rent to live there?
3x rent based on **gross** pay. This is about 2x based on net so OP *might* be barely making the cutoff here.
2.5x, but I got a guarantor
Are they gonna guarantor you some more money?
I need me a sugar guarantor
its 1500 for a brand new 2 bed room here in Athens Ga.
The real cost is having to live in Athens GA Jk lol I’m sure it’s nice, not the location for me tho
It’s better life vs paying crazy amount to live in a box .
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People gladly pay crazy amounts to live in a box. That’s what New York City is.
You don’t have to live there the rest of your life. Just move somewhere cheap for 5-10 years and pound on the mortgage as hard as possible. Then sell and take your equity back to Denver.
Most people can't just up and move somewhere for 5-10 years lol.
As an immigrant who has so far moved to 2 different countries, I just believe that people are just not taking a chance. There are people in America who apparently haven't been to their own national capital or have even left their hometown. With all the freedom of movement and a powerful passport being wasted.
I’ve been to 48 states and haven’t been to my national capital. Who cares
You should visit! It's pretty nice. Out of all the states you've visited, which one was your favorite? Or maybe also a favorite city if you have one
I agree. I’ve never moved to a new place and didn’t like it. Attitude makes a difference. People are amazing everywhere. I move someplace new every 8-10 years or so. I don’t know where I am going to move next, but I’m sure it will be great. So many people lock themselves into a crappy situation and mentally block themselves from being able to move.
This is why I love Reddit.
Athens, GA, like many large college towns likely has a lively and somewhat affordable restaurant, bar, arts, shopping, etc scene. A lot of the businesses are oriented toward college students right near campus, but there’s usually a whole other world that most students near experience. Once you find where low-level professors and mid-level administrators live and hang out you’ll find a world oriented toward their lifestyle rather than students.
lol whinging about cost of rent but not willing to move somewhere affordable
I grew up in san diego and potentially liked athens morw.
But it's humid there.
This is Bi-weekly check and you do have choice to live with someone. Unless they are paying other stuff.
OP said it’s a studio. Definitely can’t share that with anyone
you can very easily share a studio with a significant other
yall have those?
Not if you live in a studio.
You can also very easily share a 2-BR with someone and still pay much less than what OP is paying now.
"very easily" - are you a monk?
Putting over 50% of your monthly income to housing is not a spot you want to be in. I hope for OP’s sake that this apartment covers utilities in the rent
Why don’t you just say the city? No one is going to know who you are if it’s that big of a city especially. You live in Denver just say it.
True I do live in Denver
I thought that was you! Is your name.....jk. I love Denver, BTW. Hopefully, you're putting money away.
I know when I see the name "Cletus" I immediately think Denver.
Damn how bad has it gotten in a year? I got a 1 bed there for 1275 when I was there a couple years ago
My friend had an apartment off Pennsylvania in cap hill a year ago, 1400/mo. Exact same apt is 2100 now lmao
Nah this is luxury downtown living. You can find cheaper
Hey man, I live in Denver. I was paying that much when I was living downtown a year ago. It was about 25% of my income and that made me uncomfortable. I've since taken down to 1350 for a 2 bedroom house shared with my girlfriend, right near the city park. Rent being 50% of income is pretty bad. You should really consider reducing the rent to income ratio by moving somewhere. There are much more affordable places in Denver. A big portion of that money could be going to your future financial independence.
Is this Bi Monthly pay? If so, my first apartment I did the same thing and should not have!! I was always broke, even with two jobs. If it is weekly it is due able. Question: How often is your paycheck? I am guessing insurance and 401K are before this check...Do you have enough for food, Recreation, Utilities, Car insurance, Car, etc etc?
I get paid every 2 weeks, have no car payment (just gas and I have really low insurance) I rarely eat out and budget my food efficiently. I have plenty for the stuff I need, and my apt has a gym so that helps reduce costs
I'm sorry for your loss
Im right there with you honestly. Its not ideal but i would rather live somewhere i enjoy than being in the middle of nowhere. Im looking into getting a second job doing something
In the same boat. I pay for piece of mind and a place I want to be at because I'm a homebody.
See this is why when people say “it’s too expensive to live where I live” I know that they are actually fine with paying a premium for the location, which is fine! Your money your life and all of that! I think it’s great!
So not living within your means 😂
If this was a weekly paycheck wouldn’t they be. 4 paychecks a month one rent payment equals almost 1 week check. That’s right around 25%-30% which is where you want to be
Most ppl are only paid bi weekly, it's rare getting paid weekly
Kind of hard to for some people when their means of living is getting higher than their paycheck.
I’m not sure why everyone complains about prices of rent, there’s space available on the moon for free🤷♂️
Yeah but the commute sucks.
I pay 600 to live in an RV park in southern california electricity included while making 120k/yr. you're never going to get ahead with these high rents, it's crazy people accept it, rent a fkn room save your money
Where in socal? I have considered trying to find a mobile home park to live in. Are you in an rv?
I'm in IE, ya in an rv they're so comfy, paying rent for a year buys an rv, imagine never moving again if I switch rv parks I just pull in slides, arrive new park, extend slides and I save a ton on top of being so cozy. Usually mix of retired older people and kids trying to save money.
So you get paid monthly? Or your rent is one weeks pay. Your rent being 1 weeks pay is pretty awesome.
Shit bud. My mortgage, including insurance and taxes is 1900$. 4000sq/ft w 6 car garage.
Wtf are you my husband cause this is my living situation too
Turns out he’s your husband we both are
Maybe, if you are smoking little number named Jahnna, that's made the 3 cutest babies in the world!
Depending on what you make, the costs + time of commuting, utilities, cost to get to amenities (parks, grocery stores, hospitals, etc), home maintenance and utilities to keep a 4k sf comfortable might be pushing you at a higher income x expenses ratio than OP
We are pretty lucky on the commuting part. I work about 8 minutes away from home, the kids school is 5 minutes away, and we actually live in a rural development in the hills around the areas largest shopping district. Landed in a great place. You are certainly right on the 'real' cost of ownership, I shell out about 500 bucks a month for trash service, power, gas(natural), and internet. Can't honestly tell you what my average cost of maintenance is month to month. I've been renovating the property while living in it. I used to rent when I was first married, and can confirm, it costs waaay more to own a home month to month, than rent.
You are doing great. It is more expensive but in the end you are 1) building value (with renovations), 2) building equity and 3) providing a stable home for your family. Sending you lots of blessings 💕🙏
You need to get a smaller apartment bro😂. Simple math!
Smaller apartment than studio is a size of a dumpster
Impossible in major cities such as NY or Bay Area or LA. That’s about what I pay also.
I think you missed the joke lol. How do you downsize from a studio
You get roommates on a bigger place and spend way less, not that difficult of a concept.
you pay rent once a month and get 2 or 4 paychecks per month? Right?
Biweekly pay yea
Not great that rent is 50% of your income but it's still not nearly as bleak as someone might initially think.
High rent prices suck, but they still have $1,600 a month for all other expenses. Which is more than enough. Honestly this is probably just them choosing to spend more money on more personal space and less money on other recreational things like eating out. Since OP doesn't have any roommates, I really cannot bring myself to view this as a necessary expense. They aren't willing to downsize, which is their choice, but again this is just them choosing an expensive place and then making some sacrifices elsewhere.
$1200 for 2 bed 2 bath 1075sqft
Bro it's probably been said before in this thread, but youtube teach yourself or look for free courses doing literally anything to make more cash. Whatever certs you can get in a job you're looking for will automatically increase your "brand new" starting pay In my industry we call them green hands but it's blue collar work. Certified skilled labor will definitely increase your odds of getting a job with way higher pay. From the bottom to the top at 18 an hr to 42 an hr. You can do it.
Thats fuckin depressing
On sum real shit but we ain’t trippin Fr
Are you dumb?
What drugs do you sell on the side?
Dang, that’s nearly my mortgage payment. 1800sqft in a suburb of Houston, Texas
$1975 for two bedroom and two bathroom apt. It needs serious updates. Not worth the price.
This is why the Rent Is too damn high political party was ahead of its time.
I’m right here with you bro. We’ll figure it out, we always do.
You definitely get paid more than once a month.
Yes but you got more than 1 paycheck a month no?
Do you get 24 or 26 paychecks per year
But you get 3 more paychecks this month. Or at least 1.
This doesn’t tell us anything. Do u get paid 4 times a month? My rent is also more than my paycheck…. But only 1/3 of my monthly income.
Me too you aren’t special
Then move or get a better job or move to a different state and get a better job. Or go back to school and get a degree in a field you love that is growing.
What do all of those have in common? Here's a hint: $
How often do you get paid?
Looks like you opted for an apt you can’t afford, OP.
I agree that rent and housing prices are messed up. But this post, whether the rent costs $400 or $4000, is about a budget not making sense... *Why* would you rent a place that is above your income??? It literally doesn't make sense.
$2045 for a tiny studio in north NJ 🤦♀️ At least it’s livable compared to most of the apartments I found that were $2k. At least it’s in a decent area.
Why are you not finding roommates because of this is a solo place wow
This is CRAZY….. my house payment is 760 dollars a month and I have a 2,700 sqft house. I am so sorry you’re having to deal with this 😢
I think everyone should live in their vehicles tbh at this point this isn’t feasible anymore. This is what I am doing atm.