I was mind-boggled to read about the costs of an average apartment in many US cities. RentCafe asked, “How Much Apartment Space Does $1,500 Get You in America’s 100 Largest Cities?“, and set about finding out.
Wichita, KS apartments are the largest in the nation. Here, $1,500 per month will rent you 1,597 square feet. This means that, for $1,500, Wichita residents are able to live in a four-bedroom apartment, while still enjoying the perks of urban life. The largest city in the state of Kansas is a tenant’s paradise, with as many as 41% of its units being renter-occupied — 25% more than the state average.
. . .
While a larger apartment with more amenities might seem appealing, many city-dwellers are willing to give up that extra space for the hustle and bustle of major urban conclaves. In fact, in places like Brooklyn, NY, San Francisco, CA, Boston, MA, and Manhattan, NY, $1,500 will get you less than 400 square feet — which only leaves renters in this budget range with the option of a larger apartment shared with roommates. However, another option is a micro-unit — a concept that’s become increasingly popular as apartment developers figure out different ways of making more budget-friendly rental apartments available in the hottest renter hubs.
There’s more at the link.
Of course, my wife and I haven’t been in the rental market for several years. On a whim, I added up our rent-equivalent costs in our present house (mortgage repayment, property insurance, county and school district taxes on our property, etc.), and found that for a house about as large as that Wichita apartment, we’re paying less than $1,000 per month – a much healthier figure, IMHO. It helps that housing prices around here are rather lower than many other parts of the country, of course. We have a decent-size garden, too, making our living conditions even more spacious.
Frankly, the thought of having to exist in a cramped space like that Manhattan apartment appalls me – particularly when it costs an arm and a leg like that.