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I don't see many 2BRs for that price in DC it seems a bit suspect but okay, ill go with it.
Since the time I looked at going to college (2011), DC has always been a cheaper rental market with more expensive homes to purchase than in Boston. That's begun to change but ...not really.
As said before Boston has many more multi-unit and multi-family buildings. That's the predominant housing type which requires you to halve, third, or quarter the price of some of these homes if trying to look at what it is to purchase a home/condo...
The average Boston home price is $800,000 per redfin. In DC- where those are MUCH less prominent, the average price of a home is $749,000.
The average SFH in DC goes for 1.3M
The average SFH in Boston goes for 830k
To the bolded only problem with your post is we only see a total of 4 apartments that are 2 bedrooms under 1300 in DC EOTR. If that's the median why do I see 25 Apartments under 2200 in the black areas of Boston? Shouldn't we be seeing equivalent availability? Really it should be more for DC since all the housing production..no?
Being somebody in the housing and development profession, market studies are done through research. You have to call or visit comps and ask what their rental rates are regardless of vacancy. That’s how the professionals create market studies. We call it “shop” in the housing industry. Industry studies aren’t done through a 5 minute Zillow search.
You should be asking what the average resident living in a 2-bedroom in those Boston neighborhoods is paying. Not what the vacant units are asking, but what are the ten’s of thousands of households actually paying. That isn’t something you or I can answer. We have to rely on the entities that do this research for a living.
Im sure you wouldn’t appreciate people with no expertise in your profession telling you how to do your job.
I don't see many 2BRs for that price in DC it seems a bit suspect but okay, ill go with it.
Since the time I looked at going to college (2011), DC has always been a cheaper rental market with more expensive homes to purchase than in Boston. That's begun to change but ...not really.
As said before Boston has many more multi-unit and multi-family buildings. That's the predominant housing type which requires you to halve, third, or quarter the price of some of these homes if trying to look at what it is to purchase a home/condo...
The average Boston home price is $800,000 per redfin. In DC- where those are MUCH less prominent, the average price of a home is $749,000.
The average SFH in DC goes for 1.3M
The average SFH in Boston goes for 830k
To the bolded only problem with your post is we only see a total of 4 apartments that are 2 bedrooms under 1300 in DC EOTR. If that's the median why do I see 25 Apartments under 2200 in the black areas of Boston? Shouldn't we be seeing equivalent availability? Really it should be more for DC since all the housing production..no?
I’m realizing it really doesn’t matter what data is posted. You won’t believe it so we can just call it a draw. I’m sure people moving to DC will make the decision about what they can afford.
On a side note, the two rivers (Potomac River and Anacostia River) in DC seem to be a very unique geographical trait compared to the other metro areas across America which may provide a prediction for the Black areas of the DC area remaining so into the future.
When we talk about anchors for the Black community in the form of downtown business and entertainment districts and Black middle-class neighborhoods, the DC map shows the insular nature of the future of the Black community for the DC area with EOTR Ward 7 and Ward 8 being the "Black downtown" for PG County and Charles County as the multiple downtown's EOTR are built out. The need to cross the river into the urban core of DC will be greatly diminished in the future for all Black people.
When we have our own restaurants, our own grocery stores and neighborhood serving retail, and our own parks and recreational options in our own neighborhoods, we don't need to travel to other neighborhoods where people live that don't look like us to experience these things.
The problem with these maps are the oversimplify. Looking at it, one would swear areas were dominated (50%) or more by latinos in some areas. While significant, for example in Irving, hispanic aren't in actually that level of coverage.
Being somebody in the housing and development profession, market studies are done through research. You have to call or visit comps and ask what their rental rates are regardless of vacancy. That’s how the professionals create market studies. We call it “shop” in the housing industry. Industry studies aren’t done through a 5 minute Zillow search.
You should be asking what the average resident living in a 2-bedroom in those Boston neighborhoods is paying. Not what the vacant units are asking, but what are the ten’s of thousands of households actually paying. That isn’t something you or I can answer. We have to rely on the entities that do this research for a living.
Im sure you wouldn’t appreciate people with no expertise in your profession telling you how to do your job.
So should I just forget these numbers and go by what the census says black people are actually paying for rent? They have that information available in the 2019 1 year estimates - I could pull it.
So should I just forget these numbers and go by what the census says black people are actually paying for rent? They have that information available in the 2019 1 year estimates - I could pull it.
You might have missed this.
Quote:
Originally Posted by MDAllstar
I’m realizing it really doesn’t matter what data is posted. You won’t believe it so we can just call it a draw. I’m sure people moving to DC will make the decision about what they can afford.
I guess the question is, what are people in those areas paying and how does it compare to EOTR DC rents and mortgages? We know what DC jobs pay, now the question is, how much are mortgages and rents in those areas compared to EOTR DC? That was my only point from the very beginning. The claim was that the prices are the same so I don’t know.
What is the average mortgage and rent in Canarsie and Flatlands in Brooklyn, parts of SE Queens, NE Bronx in NYC; Hyde Park, parts of Mattapan and Dorchester in Boston or say Leimert Park and other relatively middle class parts of South LA? Here are the market rents for the following zip codes in the City of Boston, City of Houston, and Washington D.C.. Maybe you can do LA and NYC.
These rents have to include subsidized housing because I would have been moved east of the river if I could find a decent 2 bed for $1200 lol.
I also want to note that MANY black DC residents do not live in Wards 7 and 8. Especially non native Washingtonians.
The methodology used by HUD says they are measuring what people are paying, not what the few vacant units are asking on the market. Keep in mind there are 61,389 households in 20019, 20020, 20032.
It looks like most vacant units on the market are asking between $1,100-$1,400.
I think it's important to note that middle-class Black households have only been moving EOTR in DC to buy houses, they have not been moving EOTR to rent. There aren't many options suitable for Black professional on the rental market EOTR which may have more to do with the housing expectations for Black professionals culturally in the DC area compared to other places. That is changing now as the first Class A apartment buildings are beginning to deliver, and new grocery stores and Black owned restaurants are under construction.
DC neighborhoods EOTR will look very different in the coming years and that presents an opportunity to gain even more Black professionals that may not want to buy a house.
***On a side note, I don't think you would move EOTR even if you did find a nice place for an affordable price. I think you prefer areas west of the river or in Maryland which is perfectly fine. I already showed you a brand-new apartment building for a steal and much cheaper than anything new you could find anywhere in the region, and you didn't move there. People like living where they like and there is nothing wrong with that. I have found that it isn't about price, it is more about where you want to be.***
Last edited by MDAllstar; 07-19-2022 at 12:14 PM..
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I would have been moved east of the river if I could find a decent 2 bed for $1200 lol.
