Paying High % of Monthly Income Towards Rent (Seattle, Auburn: 2013, apartment)

[Ira500]

Originally Posted by RotseCherut

Welcome to Seattle..

You didn't know how expensive it was to live here before you came? People boast about the high salaries, but in reality, outside (and even within) of the IT fields, many people struggle to make a living here. The large number of people moving here and buying up property and willing to pay bloated prices for their rent is outnumbering the supply of jobs and the salaries they are willing to pay for them.

What I find funny is how the freeway from Bellevue to Seattle is jam-packed at rush-hour, yet you can zip right from Seattle to Bellevue at 6:00PM with no traffic. Didn't it use to be that everyone was flocking to the suburbs and would work in the city? Everyone wants to be in the big, cool city, but it appears the jobs in the city are becoming limited and now people are commuting to the suburbs for work and driving back to their overpriced tiny, apartments in the city at the end of the day.





You cannot be too sore at him.. People are practically fighting each other to get a nice piece of property in Seattle.. For all you know, he could have rented it to new tenants for $300 /mo more and it could have still been rented quickly. Seattle landlords are not hurting for tenants, hence why I found them to also be miserable people to deal with when I was house-hunting. I had one rudely hang up on me when I was asking questions about the rental, simply because she didn't want to answer my questions. Renting will always be more money in the long-run than buying, not a fair comparison. The rental market and buying market are always independent and generally inversely related.

Yes, generally inverted but not right now. There's still not very much inventory for home buyers, and prices have been rising. It's not easy being a home buyer or a renter right now. It's easier being a seller or a landlord.

[skidamarink]

Originally Posted by RotseCherut

Welcome to Seattle..

You didn't know how expensive it was to live here before you came? People boast about the high salaries, but in reality, outside (and even within) of the IT fields, many people struggle to make a living here. The large number of people moving here and buying up property and willing to pay bloated prices for their rent is outnumbering the supply of jobs and the salaries they are willing to pay for them..

1. Ive lived here for over a year now and moved around about 4x while here, spending months in between looking for the best place. Pretty sure i know the rent market well.
2. My post wasnt a complaint, it was a question. I wanted to know how common it is. My initial assumption is that everyone around me simply makes more money but I don't know.

I didn't HAVE to have this expensive studio. My other option was to have roommates. But i dont personally know anyone needing a place and so far the 20+ people i met with off craigslist were either obviously not compatible as a roommate at all or they had different preferences in location and budget. It was too much of a hassle to find a place with the right roommate and im tired of fighting over the kitchen with roommates so i finally said eff it and i went on a whim and signed a lease for this expensive studio downtown. But now im gulping. Fifty. Freaking. Percent of my income.

Not that it matters, but i wonder if ill be the poorest one in the building.

[skidamarink]

Originally Posted by RotseCherut

You cannot be too sore at him.. People are practically fighting each other to get a nice piece of property in Seattle.. For all you know, he could have rented it to new tenants for $300 /mo more and it could have still been rented quickly. Seattle landlords are not hurting for tenants, hence why I found them to also be miserable people to deal with when I was house-hunting. I had one rudely hang up on me when I was asking questions about the rental, simply because she didn't want to answer my questions. Renting will always be more money in the long-run than buying, not a fair comparison. The rental market and buying market are always independent and generally inversely related.

Yes, ive had landlords get pretty snippy with me over the past month of this horrific apt search. Summer is the worst time. The rudest ones were all in Capitol Hill and First Hill. You have to wonder how they respond to their tenants when they act like that. Thats another reason i jumped on this studio in downtown. Its just a condo owner who rents it out and he was very friendly.

I freaking walked into a vacant apt showing in capitol hill, after the landlord told me she cleaned it. Low and behold there is a bloody syringe on the floor in plain sight.

[remoddahouse]

50% is a lot. You won't be able to save anything, you'll be rent poor and if you lose your job, you'll be screwed. There's a reason why rents are so high here. People are willing to pay way too much.

By the way, how much are you paying for said studio? If it's too much, there's always stripping

When I think about how much I pay in rent, it makes me sick. We could buy a house for about 30% less than what we pay now, but we are not in a financial position to do so, so yeah....we pay it.

If you can afford the payment, you can afford it. IF you can afford a house for 30% less than what you pay, then you could get a more affordable apartment.

[Gaylord_Focker]

Originally Posted by skidamarink

Yes, ive had landlords get pretty snippy with me over the past month of this horrific apt search. Summer is the worst time. The rudest ones were all in Capitol Hill and First Hill. You have to wonder how they respond to their tenants when they act like that. Thats another reason i jumped on this studio in downtown. Its just a condo owner who rents it out and he was very friendly.

I freaking walked into a vacant apt showing in capitol hill, after the landlord told me she cleaned it. Low and behold there is a bloody syringe on the floor in plain sight.

Hopefully what goes around, comes around for the crappy landlords.

[RotseCherut]

Originally Posted by skidamarink

I didn't HAVE to have this expensive studio. My other option was to have roommates. But i dont personally know anyone needing a place and so far the 20+ people i met with off craigslist were either obviously not compatible as a roommate at all or they had different preferences in location and budget. It was too much of a hassle to find a place with the right roommate and im tired of fighting over the kitchen with roommates so i finally said eff it and i went on a whim and signed a lease for this expensive studio downtown. But now im gulping. Fifty. Freaking. Percent of my income.

Not that it matters, but i wonder if ill be the poorest one in the building.

You are preaching to the choir now.. I, too, utterly hate roommates and dealing with them. Reminds me of my days when I was in college and having to deal with them and all the drama. Due to my living situation and way of life, finding a roommate has always proved a chore for me. I got real tired of reading roommate ads, where they write "Republicans Need Not Apply". I just loved how "open-minded" were the so-called liberal, open-minded people I was seeing on the roommate ads.

Originally Posted by skidamarink

I freaking walked into a vacant apt showing in capitol hill, after the landlord told me she cleaned it. Low and behold there is a bloody syringe on the floor in plain sight.

What a horrifying story!! At least you know there is plenty of junk dealers around if you are in need.. Wouldn't that be scary that you prick yourself with a syringe in your own apartment just walking around one day, not thinking abuot it. Terrifying.

Yeah, in Seattle you pay a lot and get little of most everything, except attitude.

[ctr88]

Where in the city of Seattle is it cheaper to buy then rent?

[Ira500]

Originally Posted by ctr88

Where in the city of Seattle is it cheaper to buy then rent?

If anywhere, maybe where the city borders White Center, or where the city borders Skyway, or South Park.

[sean98125]

There's no requirement that you live downtown. Maybe you have to swallow your pride and live in a neighborhood you don't like if you've made the choice to limit your commute options. 50 percent of your income for housing is doable, but it's a really bad financial decision.

Live in a more modest environment. Save your money. Don't chain yourself to an expensive home just because you're confusing your wants with needs.

[mkarch]

Originally Posted by sean98125

There's no requirement that you live downtown. Maybe you have to swallow your pride and live in a neighborhood you don't like if you've made the choice to limit your commute options. 50 percent of your income for housing is doable, but it's a really bad financial decision.

Live in a more modest environment. Save your money. Don't chain yourself to an expensive home just because you're confusing your wants with needs.

I'm not so sure. An expensive studio downtown probably runs over $3k/mo so there's still another $3k to live on after rent is paid. People do get by on less.