Different Places Have Drastically Different Costs of Living
It is amazing how much home prices and rents can vary per region. This drastically effects how far money can go and the quality of life that people can afford. The general trend is that the most well-known areas where people are flocking to go up in price, with the trendiest and most well-endowed locales being the most expensive.
The prices that one must pay to live in places like San Francisco are absolutely through the roof. It has come a point where an income of $117,400.00 or below is considered low income in San Francisco County, Marin County and San Mateo County. Supposedly, making below that amount of money qualifies people to live in low-income housing. Houses in San Francisco are in the millions. There are many landlord representatives, such as Thomas Mensendiek, that are around to make things go smoothly for people who are looking to rent out places. In San Francisco, the average monthly rent for a one-bedroom apartment is $3,334.00 per month.
There is a similar situation in New York City. If you want to buy a home within the lines of New York City, you are going to have to shell out a lot of money. It is very common for the most expensive homes and apartments to be in Manhattan and the trendy parts of Brooklyn. Homes in these areas can easily reach into the millions. In the less trendy and less desirable neighborhoods that exist in New York City, homes below $1,000,000.00 can easily be found. However, they will still be pretty expensive, many times being above $500,000.00. In the suburbs that exist outside of the political boundaries of New York City, the homes are still very expensive. Many times, the prices of the homes in the suburbs match the prices of the homes in the quieter, less desirable neighborhoods of New York City. In the city and the suburbs, there are some homes that are priced in the $300,000s, but most aren’t. The average rent for a one-bedroom apartment in New York City is $2,979.00 per month. Homes are out of reach for many people, financially—even the cheaper homes. The city is notorious for the fact that a lot of people have to live with numerous roommates in small quarters in order to make ends meet.
In out-of-the-way areas that aren’t in or too close to major cities, the costs of living tend to be drastically cheaper. For example, if you look at homes in Columbus, Ohio, you will find listings for homes with numerous bedrooms that are in the $100,000.00s and $200,000.00s. Of course, there are more expensive homes that are listed, but most homes are relatively inexpensive. Also, homes in the $100,000.00s and $200,000.00s are unheard of in more expensive parts of the country. On average, the monthly price for a one-bedroom apartment in Columbus is $852, which sits in sharp contrast to that of San Francisco’s $3,334.00 per month and New York City’s $2,979.00 per month.