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Old 12-15-2016, 06:34 AM
 
3,118 posts, read 5,337,794 times
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I am from Chicago and was looking at apts downtown and was shocked at the prices. They were $1200 minimum and $120 a month for parking. Thats what you would pay in Chicago neighborhoods and I could find places in Philly for cheaper. I mean this is Indy, with lower paying jobs and nothing compared to Chicago or Philly. You can live a little outside downtown for half the price.
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Old 12-15-2016, 06:36 AM
 
Location: Sweet Home Chicago!
6,707 posts, read 6,418,227 times
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Supply and Demand. If they can get it, they will ask for it. I agree though, Indy should be cheaper...
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Old 12-15-2016, 07:13 AM
 
3,118 posts, read 5,337,794 times
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Quote:
Originally Posted by flamadiddle View Post
Supply and Demand. If they can get it, they will ask for it. I agree though, Indy should be cheaper...
I guess my point or question is that the supply and demand doesn't seem to add up or make sense given indys' small size, lack of density, and reputation for having a low cost of living. Why would anyone in their right mind chose to pay the same to live in indy than Chicago or another major city where you get paid more and have more career opportunities with bigger companies?

Last edited by jman07; 12-15-2016 at 07:43 AM..
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Old 12-15-2016, 07:19 AM
 
5,346 posts, read 9,817,656 times
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Unless you qualify for section 8. One of the patients at our downtown Indy office told us she was moving into a brand new apartment just a few blocks away. She said she got approved for $400 per month based on her income, and that the regular rent on the apartment would have been $2200.

I didn't even know those apartments were for low income but I found out they had to accept a certain amount of income-based rentals.
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Old 12-15-2016, 07:51 AM
 
Location: TN/NC
34,882 posts, read 30,990,556 times
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Quote:
Originally Posted by missik999 View Post
Unless you qualify for section 8. One of the patients at our downtown Indy office told us she was moving into a brand new apartment just a few blocks away. She said she got approved for $400 per month based on her income, and that the regular rent on the apartment would have been $2200.

I didn't even know those apartments were for low income but I found out they had to accept a certain amount of income-based rentals.
I ran into this issue several years ago when moving, but not to Indianapolis. The thing is, the poor can get subsidies, the well off can afford it, but the majority in the middle cannot afford the full price rent, nor do they get any assistance to live in the nice areas whatsoever.
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Old 12-15-2016, 08:10 AM
 
Location: South Florida
5,016 posts, read 7,406,923 times
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Quote:
Originally Posted by Serious Conversation View Post
I ran into this issue several years ago when moving, but not to Indianapolis. The thing is, the poor can get subsidies, the well off can afford it, but the majority in the middle cannot afford the full price rent, nor do they get any assistance to live in the nice areas whatsoever.
Same thing in Florida and Wisconsin (as far as my personal experience).. it's everywhere and wrong on so many levels
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Old 12-15-2016, 10:08 AM
 
Location: Seattle, WA
918 posts, read 1,691,019 times
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Increased demand for urban living and limited supply ?
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Old 12-15-2016, 11:49 AM
 
Location: South Florida
5,016 posts, read 7,406,923 times
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Quote:
Originally Posted by W & C View Post
Increased demand for urban living and limited supply ?
It all goes back to the stupid banks and the housing market crash....right?
Until people start buying homes again, rental prices will keep climbing?


I know down here it's specifically the 1 bedroom units that are insanely expensive because people from NY and NJ are moving down here in droves creating chaos in the rental market.
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Old 12-15-2016, 12:02 PM
 
Location: Tampa
285 posts, read 384,191 times
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That's what I thought when I moved to Indy from Chicago in 2013. Crazy. Granted there was less supply then, but we chose the Marott (Meridian and Fall Creek) and paid just under $800 for a 1 BR. Free parking, good amenities, nice community. Could get to my office downtown in under 15 minutes door to door, cheap uber rides to get downtown/broad ripple when needed. I think when we left Indy in July we were paying $815.
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Old 12-15-2016, 04:58 PM
 
Location: Indianapolis, East Side
3,042 posts, read 2,345,972 times
Reputation: 8339
Quote:
Originally Posted by jman07 View Post
I am from Chicago and was looking at apts downtown and was shocked at the prices. They were $1200 minimum and $120 a month for parking. Thats what you would pay in Chicago neighborhoods and I could find places in Philly for cheaper. I mean this is Indy, with lower paying jobs and nothing compared to Chicago or Philly. You can live a little outside downtown for half the price.
All very reasonable points, but when you throw status or any other emotional thinking into the mix, reason goes out the window.
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