Unbelievably high rental prices in the Triangle area!

[DigPlantWeed]

Living in the DC suburbs (and contemplating a move to the triangle) the prices cited here seem very reasonable to me. When I bought my current home in 1996, it was because the rent for my 2 BR 2 BA apartment "outside the beltway" (read, far-out suburbs) topped $1100. That was in 12 years ago--it would be about $1700 or more now.

DH's condo, which is significantly more far-out is rented for $1250.

On the other hand, you could rent a 3BR townhouse in our neighborhood for about $1900, a much better deal than buying a 20-year-old townhouse for $350K (was $400K before the bubble burst).

[tlh1005]

Originally Posted by saturnfan

Good Grief! Are you living in the Triangle?

We pay $685 for an 870 SF 1BR with great service.

You might want to look around. Some new properties have been built by out of state carpetbaggers and charge Yuppie prices.

There are plenty of reasons a 1BR could rent for $1K or more per month. Maybe it's a new condo with granite etc. Maybe it's an apartment in an upscale, gated community. Internet and cable might be included. It could be a corporate furnished apartment..... I can do this all night.

It is pointless to compare opinions about what is worth the price of rent between two different people. It's like asking why anyone would pay $235/sqft. to live on .15 acres inside the beltline when you can find newer and bigger homes on .5 acres elsewhere for $130/sqft. It doesn't make any sense to some, but there are plenty of home owners who do it every day, and others who would love to if they could afford it.

[deuterdu]

Originally Posted by cottonswoods

Well... for 3 and 4 bedroom homes. Good grief. Talk about hyper inflated

I scour craigslist and the newsobserver.com site.. and WRAL classifieds.. everyday. The prices are through the roof expensive. Many, if not most of these homes, look brand new and frankly.. crammed beside other, almost identical homes, which frankly.. often look kinda cheaply and formula built.

Looking for an affordable, decent home for a family of six has been extremely disappointing. Surely there are houses, not apartments, for rent or for sale that don't charge over $1,000 a month. How do people in the Piedmont region even afford housing at all at these outrageous prices? And... if they can afford those prices, how do they afford a family or anything else?

We're seeing a lot of foreclosures too. Not surprising at all given what is being demanded as a monthly payment. But when people are kicked out of the home they couldn't afford... where the HECK do they go to put a roof over their head when they couldn't afford the exhorbitant monthly payments of owning?

otoh... we are finding affordable, nice, but older homes.. which we like.. with some very large yards or small acreage, but they are either scooped up fast or way, way out... which we LOVE, but are their jobs or towns to commute to jobs in places like... Ahoskie??

Sorry for the rant, but we are North Carolina natives trying to come back home to live out the rest of our lives and the prices for housing is an obstacle.

High prices???? We all have it good especially with all of the amenities in this area. Examples below:

Look at these:
Over 50000 real-time vacant Palo Alto CA apartments for rent. ... Studio, $1169. 1 Bedroom, $1415. 2 Bedroom, $2137. 3 Bedroom, $2949. 4 Bedroom, $3794 ...:

Over 50000 real-time vacant La Jolla CA apartments for rent. ... Studio, $1095. 1 Bedroom, $1525. 2 Bedroom, $2049. 3 Bedroom, $2871. 4 Bedroom, $4387 ...


$2800 Four bedroom in Chicago - 1011389 in Chicago, IL Find your own home to rent in Chicago like $2800 Four bedroom in Chicago - 1011389. ...


One bedroom Alexandria VA apartments currently rent for $1268 to $1790 per month.

[Robyns.Nest]

Originally Posted by Irvinegal

Well, it's all perspective. Triangle rents are way more reasonable than crazy SoCal where I used to live. We pay $1450 in Cary for a 2700 sf home in nice area. My condo in SoCal, which I rent to tenants now, is fetching $2600 month (1600 sf, built in 1970s).

Not something I would personally brag about...

[GucciLittlePiggie]

lol