Would you pay $1,300 for a micro apartment in downtown Phoenix?

[man4857]

Originally Posted by BIG CATS

COLA adjusted, theyre both a huge ripoff, regardless. Yet ignorant people will still buy them. Such a big charge for such a small space, its just not worth it.


I remember seeing studio condos for sale on Michigan Ave going for $550K.

As long as someone is willing to pay for it, the price will stay and COL will be maintained.

San Francisco is expensive because limited housing & massive demand. Just look at this thread, many have already said (or implied) they wouldn't pay $1300 to live here, but will gladly pay $1300 to live in SF, NYC, etc... Why is that the case?
There are people who will gladly pay 2x - 3x+ or more to be in those cities. It might not be worth it to you, but to someone else it's worth it. The cost of housing is easily the best indicator of what makes a city desirable. That's the free market for ya. Good and down sides to everything.

Try to correlate high COL areas with political party, wonder why it's blue most of the time. People want government regulation to intervene into the free market.

[lovecrowds]

No, the mortgage on a house in certain parts of Gilbert and San Tan Valley is about that.

$1300 for a micro-apartment wouldn't be my cup of tea anywhere unless I got a really good job downstairs from the apartment.

The primary downtown's in metro Phoenix for tourists and non-sports related urban activity will always be Tempe, Scottsdale and Gilbert. Phoenix has major league sports and some nice events, but the light-rail is $2 a ride or $65 a month and goes downtown from the east valley is less then an hour.

Out of all the downtown's in America, I don't see why people would pay a premium to live downtown but if that's what they like and it is relatively clean compared to most downtown's then more power to them.

There are people paying $600-$700 a month for apartments around 52nd to 56th and Thomas with-in walking distance to Downtown Scottsdale, which has one of the best downtown's in the nation.

I did some research and mortgage on a medium-sized, nice ranch house with a nice yard close to downtown Gilbert which has lots of nice, friendly activity is about the same as a tiny, micro-apartment in downtown Phoenix.

Downtown Phoenix is clean compared to downtown areas of similar size, but Downtown Scottsdale and Downtown Gilbert just are much more friendly, vibrant and don't have to worry about stressful influences and undesirable elements around.

Downtown Phoenix also doesn't have lots of big-box retailers to complement it's central neighborhoods like Gilbert does.

[locolife]

Originally Posted by lovecrowds

No, the mortgage on a house in certain parts of Gilbert and San Tan Valley is about that.

$1300 for a micro-apartment wouldn't be my cup of tea anywhere unless I got a really good job downstairs from the apartment.

The primary downtown's in metro Phoenix for tourists and non-sports related urban activity will always be Tempe, Scottsdale and Gilbert. Phoenix has major league sports and some nice events, but the light-rail is $2 a ride or $65 a month and goes downtown from the east valley is less then an hour.

Out of all the downtown's in America, I don't see why people would pay a premium to live downtown but if that's what they like and it is relatively clean compared to most downtown's then more power to them.

There are people paying $600-$700 a month for apartments around 52nd to 56th and Thomas with-in walking distance to Downtown Scottsdale, which has one of the best downtown's in the nation.

I did some research and mortgage on a medium-sized, nice ranch house with a nice yard close to downtown Gilbert which has lots of nice, friendly activity is about the same as a tiny, micro-apartment in downtown Phoenix.

Downtown Phoenix is clean compared to downtown areas of similar size, but Downtown Scottsdale and Downtown Gilbert just are much more friendly, vibrant and don't have to worry about stressful influences and undesirable elements around.

Downtown Phoenix also doesn't have lots of big-box retailers to complement it's central neighborhoods like Gilbert does.

Nothing in downtown Gilbert even remotely compares to Phoenix and Scottsdale is the city for tourists. Phoenix offers a big city feel at a very good price and that's being reflected in the sheer demand seen as apartments, grocery stores and restaraunts are thriving there. It's also a major job center and hosts many major ASU schools now. If I didn't know better I'd assume you're someone who has never been downtown.

[locolobo13]

My answer, no. Just look up apts online. There are better deals within walking distance.

[Ponderosa]

Students are paying that. There is no housing for upper class students downtown. You get three, four kids in the place and its not that bad. Actually the $1300 sounds like a bargain compared to Flagstaff (NAU). My daughter and her roomies pay $1600 for about the same size there - nothing special.

[Valley Native]

Originally Posted by locolife

Nothing in downtown Gilbert even remotely compares to Phoenix and Scottsdale is the city for tourists. Phoenix offers a big city feel at a very good price and that's being reflected in the sheer demand seen as apartments, grocery stores and restaraunts are thriving there. It's also a major job center and hosts many major ASU schools now. If I didn't know better I'd assume you're someone who has never been downtown.

I agree completely. It's baffling how some people think of downtown Gilbert as a thriving hot spot, but I don't see it that way at all. I drove through there a little over a year ago, and it was quaint but not very impressive. In fact, it reminded me of what Old Town Scottsdale used to look like 40+ years ago: smallish with kind of a western theme. Downtown Phoenix, the Central Corridor, Tempe, Old Town Scottsdale, Camelback East/Biltmore, and Kierland are examples of thriving areas which make downtown Gilbert seem tiny and sparse. Gilbert won't even call itself a city ... it's probably the largest "town" in America.

[Prickly Pear]

~700 square foot apartments or so in Downtown are going about 1100 a month so idk why paying 200 more a month for half the square footage. These are studios to be fair.

Unless I am missing something.

But Scottsdale having the best Downtown in the nation, now THAT is laughable.