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Being frugal, staying on budget and keeping a healthy savings account are some ways to keep from going broke but there are just some high and unavoidable expenses like rent.
In many cities, buying is much more affordable than renting but most major cities price out people not pulling in six figures or unwilling to take on a roomie. In those metropolises, people have no other choice but to rent.
Where you live has a significant impact on the amount of rent a landlord can charge each month, and this list from Forbes is sad proof that the space being rented doesn’t have to be much larger than a college dorm. Here’s the amount of space that typically comes with $1500 a month in rental charges.
Top 5
1. Indianapolis: 1,770 square feet
2. Detroit: 1,750 square feet
3. Las Vegas: 1,640 square feet
4. Jacksonville, Florida: 1,630 square feet
5. Atlanta: 1,610 square feet
Bottom 5
1. San Francisco: 340 square feet
2. NYC: 350 square feet
3. Boston: 470 square feet
4. Washington, D.C.: 510 square feet
5. Los Angeles: 560 square feet
In case you’re bad at visualizing space, here’s what 300 square feet looks like in real life.
It shouldn’t come as a shock that the trendier cities offer high prices with zero room to breath, but the list of 20 major cities and what renters get for the money is appalling. Money doesn’t go very far these days unless or make a killing selling cheap items for full price online or turned a treehouse into a kickass bachelor pad.
Maybe consider a move to a cheap city or getting a freelance gig that pays a ton but doesn’t mean living in LA, NY or San Francisco.
[via Forbes]