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by gnulinux
587 days ago
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In very expensive cities like NYC, Boston, SF it'll be $4k+ for 1 to 2 bedrooms, $5k+ for 2 to 3 bedrooms. If you have 2 buddies and going on a $5500 3 bedroom in Boston, you'll likely be requested first rent + last rent + deposit + broker fee (=1 rent) = 4 * rent = $22k just to get the keys. That's $7300 per person. This is only to get the key, the next month you pay rent #2. If you're going on a $4k 1 bedroom by yourself (or with your partner) you'll be hit with 4 * 4=$16k upfront cost, or $8k if you're lucky and have a partner. Renting is extraordinarily expensive in big cities in the US right now. I'm sometimes surprised people can survive this market. I make ~$150k a year in a lucrative software engineering role, and rent is still too expensive for me. It's very difficult for e.g. teachers, researchers etc making ~$70k a year etc. Some cities will be cheaper, some will be more expensive. E.g. I know that Philadelphia is particularly cheap when it comes to cost of living. Chicago is expensive, but seems to be slightly cheaper than NYC/Boston etc... |
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I imagine some other cities have done the same.
Where I live, in a desirable Manhattan neighborhood with an old building stock, you can find a decent 1-bedroom for around $3500/mo and move in for a total of $7k. If you hunt for a deal and can make a few sacrifices, you can bring that down to $6k.