Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I rented a room in a house a few blocks from Five Points in 1987 for $150 a month, and that included heat and electricity. The landlord couldn't meet to show it to me, but left the door unlocked so that I could go in and look around.
I rented a room in a house a few blocks from Five Points in 1987 for $150 a month, and that included heat and electricity. The landlord couldn't meet to show it to me, but left the door unlocked so that I could go in and look around.
Times have certainly changed.
I rented an efficiency in Boylan Heights in 1989 for 200 bucks a month. I couldn't rent a closet there for that price now.
__________________
When in doubt, check it out: FAQ
I do know that rents have risen in this area; however, at the same time, mortgage rates are so low that it does sometimes cost less to buy than to rent.
I recently had a client that purchased a small townhome in Durham, with garage and screen porch, for $135,000. She had been renting in Mebane for $600 per month. Her mortgage payment (including taxes, insurance and HOA fees) was just a bit LESS!
Right now about $900/month is a good median rental price (in my opinion). I wouldn't call that high at all for the area. You can certainly do less, but you'll get what you pay for. The $1000+/month range is where you start getting all sorts of amenities.
Things have changed VERY recently. There was an apartment complex walking distance from me that was renting 1-bedrooms for $399, two-bedrooms for like $500 about 3-4 years ago. Now 1-bedrooms are like $590-something. Real estate is cyclical. *shrugs*
That's my mortgage for a 2br 2 and a half bath Townhome in Cary.
My point exactly. To obtain a mortgage one has to go through closing costs and a down payment, not to mention a monthly HOA fee, insurance and property taxes. So, iMO, 900+ a month to rent a comparable TH sounds reasonable to me.
It sort of reminds me of how people balk at paying "full price" for my local ACC football/BBall tix that I sell when I am the one who paid thousands for the "right" to buy them in the first place and an annual fee to stay eligible to continue to buy them.
Everyone wants something for nothing.
I think renting is now more socially acceptable, too, so that's driving up rents because more people are willing to rent.
In the past, I think most people rented because they couldn't afford to buy. Now, people may be able to afford it but find it far easier to rent for the reasons mentioned earlier.
I think renting is now more socially acceptable, too, so that's driving up rents because more people are willing to rent.
I've never heard of renting as being "not socially acceptable"
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
