Maryland needs to get its ridiculous rent and property prices under control

[wxcoder]

Originally Posted by SteelCityRising

You could also move to a place like Pittsburgh, split a 1-BR with your partner for $700/month ($350/month each) and live within walking distance of Downtown. We both make less than we'd make in DC, but we have much more discretionary income (and lower stress as a result).

I was mind-blown by the astronomical cost-of-living when I lived in Metro DC. I lived in Reston, which is WAY OUT along the Loudoun County border in Northern Virginia, yet typical 1-BR rents there were still well over $1,000/month. Given my entry-level salary the only way I could have afforded to stay in the region would have been to have sought a house-share or roommate situation, which I thought was ridiculous---compromising privacy to live with strangers WAY outside the city core. What would the point have been?

NYC can command high rents. L.A. can command high rents. San Francisco Bay Area can command high rents. Why the exurbs in Maryland and NoVA? Who the hell wants to rent in these areas, anyways, for the pricing to still be so high?

As a prospective Maryland resident, I have to say I was taken aback at the rental costs. Where I lived in the capital of Florida rent for a 1 bedroom was $675/month (with furniture), looking at places in Maryland, the rent is more than double that. I would hope that employers take into account this high cost of living even with entry level positions.

[itschristinab]

I might add what OP is talking about is actually a thing. Lots of cities have rent controls. I don't think they're a good idea, but hey thought I'd throw it it.

[pokeable]

Originally Posted by itschristinab

I might add what OP is talking about is actually a thing. Lots of cities have rent controls. I don't think they're a good idea, but hey thought I'd throw it it.

Rent control tends to restrict rental housing supply (all costs for the landowner go up, but they cannot raise prices? No incentive to rent out a home/development), thus aggravating the problem of affordable housing but for the lucky few in rent controlled apartments.

[Claire_Springs]

Originally Posted by wxcoder

As a prospective Maryland resident, I have to say I was taken aback at the rental costs. Where I lived in the capital of Florida rent for a 1 bedroom was $675/month (with furniture), looking at places in Maryland, the rent is more than double that. I would hope that employers take into account this high cost of living even with entry level positions.

The rent is expensive, but you often get the following:


https://www.youtube.com/watch?v=Ur2j...1TkoDg&index=8

[DistrictSonic]

Originally Posted by SteelCityRising

You could also move to a place like Pittsburgh, split a 1-BR with your partner for $700/month ($350/month each) and live within walking distance of Downtown. We both make less than we'd make in DC, but we have much more discretionary income (and lower stress as a result).

I was mind-blown by the astronomical cost-of-living when I lived in Metro DC. I lived in Reston, which is WAY OUT along the Loudoun County border in Northern Virginia, yet typical 1-BR rents there were still well over $1,000/month. Given my entry-level salary the only way I could have afforded to stay in the region would have been to have sought a house-share or roommate situation, which I thought was ridiculous---compromising privacy to live with strangers WAY outside the city core. What would the point have been?

NYC can command high rents. L.A. can command high rents. San Francisco Bay Area can command high rents. Why the exurbs in Maryland and NoVA? Who the hell wants to rent in these areas, anyways, for the pricing to still be so high?

You do realize that Loudoun county has one of the highest concentrations of tech jobs in the country. Right? It is pretty clear you do not grasp this concept, but the DC area has a large number of highly skilled jobs that require a bachelors or higher. Over 50% of the population has a bachelors or higher, the area also has the highest percentage of people with a masters of higher, it makes up nearly 1/3 of the total population. DC is not just the capital, the region is a knowledge capital. Guess what the DC area can command high rents, if you do not understand why...you are pretty ignorant of the regional economy and labor market. LA is the center of the entertainment, NYC is the center of finance, DC is the center of the public sector, both governmental, and non-governmental entities. The DC area also has a large knowledge workforce even outside of government. Do you know what other regions command high rents...Seattle and Boston. DC, Seattle, and Boston all have a very large portion of highly skilled workers. The cost of housing in these regions is higher as a result.

The DC area has a very thick knowledge economy, and as a result, there is a higher demand for highly skilled workers, which drives up the cost of housing based on demand.

The DC area is not some backwater, you will pay more for rents out here in many places because of the robust knowledge economy. Some people are not meant to live out here. Pricing for housing is based on demand, nothing more, nothing less. In Loudoun county, which is one of the wealthiest counties in the country, people move there to be close to higher paying tech jobs so the region has high demand.

There is no reason to compare this to Pittsburgh or Florida, or some other low cost of living regions which do not have as robust knowledge economies. This region is different. It costs more to live here because of higher demand, but also a higher paid workforce.