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Rent is so high!!

September 21st, 2007 at 05:20 pm

I was looking at the paper and all of the homes for rent. I had no idea that rent was so high. Most homes were renting for $1000 in this area. How do people afford this?
That is $12,000 a year. The most I ever earned in my life was about $8300 a year. I guess if I was single today, I would be homeless.
I feel so sorry for people who are working minimum wage jobs.

Posted in Uncategorized | 7 Comments »

7 Responses to “Rent is so high!!”

  1. moi aussi Says:
    September 21st, 2007 at 07:09 pm 1190401791
    1190401791

    A home for rent for 1K? That sounds like heaven. You can't even find a 1 bedroom apartment for that much here.

  2. terri77 Says:
    September 21st, 2007 at 08:15 pm 1190405747
    1190405747

    I couldn't rent my house for less than $1000 and make a profit. $1000 would have sounded before I bought my house and realized the cost of owning a home: mortgage, property taxes, homeowners insurance, and association fees add up. And then there is the cost that you're paying not to have to deal with any of those things.

  3. disneysteve Says:
    September 21st, 2007 at 08:19 pm 1190405977
    1190405977

    Ima - I think you might have an unrealistic view of what people earn. Go to Google and do a search for your town's name and median income. You may be surprised by what you find. Median family income in my town is around $70,000. Minimum wage is $7.15, so a couple each working 40 hours/week at min. wage jobs would gross about 30K.

    I don't know when you earned $8,300/year, but that would get you nowhere today, though you would qualify for all types of government assistance, food stamps, Medicaid, etc.

  4. Ima saver Says:
    September 21st, 2007 at 08:35 pm 1190406933
    1190406933

    I earned that working more than 40 hours a week in 1990.

  5. Ima saver Says:
    September 21st, 2007 at 08:41 pm 1190407281
    1190407281

    median income for this area is slightly over $31,000.

  6. disneysteve Says:
    September 21st, 2007 at 11:02 pm 1190415732
    1190415732

    Is that individual or household income? Could be either depending on the location. If it is individual, that means a 2-income household could easily be bringing in 60K and paying 12K/year for housing wouldn't be unreasonable at all. A single person couldn't really afford it, but a single person probably wouldn't be renting a house for $1,000/month but rather a 1-bedroom apartment for less than that. Either that, or getting a roommate or two to split the costs.

  7. Ima saver Says:
    September 22nd, 2007 at 12:57 pm 1190465828
    1190465828

    That is household income. $1000 a month is for a decent house, we have no apt. buildings here. Most of the poorer people rent old dumpy trailers here.

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