Good News for Renters! Rental Rates Have Declined for the First Time in Two Years. Here Are the Best Cities to Live In
Finishing school and securing your dream job in the city is the goal to aspire for, you thought. However, as much as it sounds heavenly, the start of your journey to the success of your career is far from smooth.
You will encounter a lot of problems, including a low starting salary that will make it seem impossible for you to have a work and life balance. Because of your income, it may also be hard for you to get a place near your work.
A Decline in Rental Rates
Let’s face it. Metropolitan areas are known for their skyrocketing real estate prices, and assuming that you’re just a newbie, it can be hard for you to purchase a property.
Say, you did the math and found that you can’t afford a mortgage. The most logical thing to do is to rent a place out that’s convenient and comfortable for you.
However, with the many employees in key cities, it can be hard for you to score a place. So, on top of the limited number of spaces for rent, you must also find one that you can afford. But the good news is, there’s a slight decrease in rent in two years, as explained by Rent Café on its Apartment Market Report for September.
As per the site, the average rent nationally became $1,471, or a 0.1 percent drop. It may sound minuscule, nonetheless, it’s a portion of your monthly due slashed off. Generally, renters will benefit from this adjustment even in key cities. According to Yardi Matrix that analyzed the apartment rents in different cities, it also saw a decline in the rates.
Now, you’re probably wondering which cities we are talking about. The following have shown a decline in apartment rent that’s under the indicated average of $1,471 a month, as reported by Rent Café:
Indianapolis, Indiana, $878; Columbus, Ohio, $947; San Antonio, Texas, $1,045; Phoenix, Arizona, $1,085; Jacksonville, Florida, $1,091; Houston, Texas, $1,101; Las Vegas, Nevada, $1,104; Fort Worth, Texas, $1,129; Dallas, Texas, $1,235; Charlotte, North Carolina, $1,243; Tampa, Florida, $1,320; Austin, Texas, $1,433, and Orlando, Florida, $1,436.
If you noticed, most of these places are in the southern area of the country. Also amiss on the list are major coastal areas like San Francisco and the Big Apple. As per Rent Café, Manhattan has the highest apartment rent rate (up to $4,190) in the first six months of 2019, while Oklahoma City in the state of Oklahoma had the most affordable with $769 per month on average.
Negotiating with Your Landlord
If your area is not among those on the list, try to negotiate with your landlord. Finance expert Ramit Sethi advises analyzing the situation first and making sure that your timing is right when you approach the owner of the apartment. He suggested opening up the topic two months before the lease is over just so you will have ample time to think if your request wasn’t granted.
Build up on your strengths. If you have done research, then you should know when the rates rise or decline. This way, you can come up to your landlord and lay down the facts before you negotiate. You can also mention the number of years you have been a good tenant.
More in Loans & Credit
Will a Lego & Tesla Partnership Finally Be Happening? This New Development Might Just Make It Possible
Lego and Tesla are two companies that are known for very different things. The former has successfully captured the market for...January 30, 2020
Think People Who Work For Themselves Have The Best Job In The World? Your Opinion Might Change After Reading This
Being self-employed may be a dream come true for some people but this career path isn’t a cakewalk at all. Proof...January 29, 2020
Find Out The Interesting Story Behind Rapper Sean ‘Diddy’ Combs’ Former Park Avenue Building That Recently Sold For $24 Million
It looks like luxury real estate is indeed a small world. An Upper East Side building, which is reportedly music mogul’s...January 28, 2020
Make Your Retirement Worry-Free With These Two Simple Steps That’ll Make Your Fund Last as Long as You Would
Saving for retirement is one thing. Making this money last long is another. Luckily, a new study from the Stanford Center...January 27, 2020
Millennials Can’t Afford Homes Yet So This Is What They’re Doing Instead
Millennials get a bad rap for being accused ‘killers’ of certain business industries. One of the sectors they’re allegedly killing is...January 24, 2020
‘You Raise Me Up’ Singer Josh Groban Just Scored This Incredibly Unique Property In One Of LA’s Hippest Neighborhoods
It looks like tenor singer Josh Groban knows how to manage his time really. Amidst planning for his upcoming tour, the...January 23, 2020
Hit Two Birds With One Stone With These Stylish Renovations That’ll Also Add Resale Value to Your Home
After living in the same home for years, one may feel the urge to make some design changes or additions to...January 22, 2020
This Is The Surprising Place Model-Turned-Actress Brooklyn Decker Gets Her Home Decor Inspo & Maybe You Should Too
It looks like Brooklyn Decker’s current starring gig in the hit Netflix comedy series ‘Grace and Frankie’ isn’t just a paying...January 21, 2020
Want To Cut Down Your Housing Expenses? Check Out These American Cities With The Cheapest Rent Prices
Living in a city has a lot of perks. It’s teeming with job opportunities as well as a variety of entertainment...January 20, 2020