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I was just going to say that, as I glanced at the NYC number and was like WHAT.
I did a street easy.com search just now for Manhattan alone-any neighborhood-and found 543 one bedroom apartments for rent right now, under $3000 per month.
There are many, many apartments for rent much less than the $3800-ish per month number given in the article above.
If someone is looking for a luxury/new construction/doorman building in the most desirable neighborhoods in the city, well, yeah, you'll pay stupid money for that.
But most people will be more frugal, flexible and efficient with their search.
I feel like the CoL in DC is going to go down at some point, wasn't it listed in the top 5 cities (after SF) being hit the hardest due to the recent shift in WFH? Or maybe I'm just hoping somehow it'll magically go down.
Miami is still pretty high these days. Interesting.
Manhattan is still expensive but Williamsburg is still pretty affordable (NYC affordable).
I feel like the CoL in DC is going to go down at some point, wasn't it listed in the top 5 cities (after SF) being hit the hardest due to the recent shift in WFH? Or maybe I'm just hoping somehow it'll magically go down.
Miami is still pretty high these days. Interesting.
Manhattan is still expensive but Williamsburg is still pretty affordable (NYC affordable).
I feel like the median rent for a 1-bedroom in DC has been $2,300 since 2012. I remember seeing that price over 10-years ago. I actually posted it here on city-data.com talking about some topic way back then. DC builds so many new units annually it really helps to keep prices down. DC used to be tied or above Boston in rent 10-years ago.
The difference is DC produces substantially more units annually compared to Boston increasing the net housing supply which impact prices dramatically. I hope the city continues doing it.
I feel like the median rent for a 1-bedroom in DC has been $2,300 since 2012. I remember seeing that price over 10-years ago. I actually posted it here on city-data.com talking about some topic way back then. DC builds so many new units annually it really helps to keep prices down. DC used to be tied or above Boston in rent 10-years ago.
The difference is DC produces substantially more units annually compared to Boston increasing the net housing supply which impact prices dramatically. I hope the city continues doing it.
True. I remember the days when it was like $2,150-$2,250 but I don't know if it'll ever go back down to that. $2,300 still isn't bad especially compared to NYC, SF and Boston.
I mentioned in another thread about how Boston is now way more expensive than San Francisco but nobody believed me.
Shocked to see Philadelphia rents in absolute free fall, it officially earns the title now of "cheapest big city in America". Something to be proud of for sure.
Phoenix I must say is the misleading one here that sticks out, it appears cheaper than it actually is. There's no way you're getting a 1 bedroom in Phoenix nowadays for anywhere near $1,380 a month, more like $1,500+
Miami being more expensive than San Diego now is absolute insanity, I can see Miami being cheaper long term but the fact that it has even surpassed San Diego is shocking.
Chicago is more expensive than Honolulu (and also Portland and Sacramento), huh.
In the past 8 months for some reason Chicago rents have skyrocketed, I assume a lot of WFH covid migrants couldn't last out in the suburbs or rural areas and moved back to the city in droves causing a huge rental crisis.
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
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Quote:
Originally Posted by NearFantastica
I mentioned in another thread about how Boston is now way more expensive than San Francisco but nobody believed me.
Shocked to see Philadelphia rents in absolute free fall, it officially earns the title now of "cheapest big city in America". Something to be proud of for sure.
Phoenix I must say is the misleading one here that sticks out, it appears cheaper than it actually is. There's no way you're getting a 1 bedroom in Phoenix nowadays for anywhere near $1,380 a month, more like $1,500+
Miami being more expensive than San Diego now is absolute insanity, I can see Miami being cheaper long term but the fact that it has even surpassed San Diego is shocking.
This recent WAPO article helps explain Miami: limited land availability, influx once again of South Americans as more countries turn leftist (fears of Chavez/Maduroism), and WFH. You can add in some finance HQ (Citadel, Siebert, etc) and law firm (Kirkland & Ellis, King & Spaulding, Winston & Strawn, etc) relocations and/or expansion.
Last edited by elchevere; 10-26-2022 at 05:12 PM..
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