Renting an apartment
made sense for individuals and families whose work required frequent relocation
and a 30 day notice sufficed before leases were imposed. Rent payments were due
in advance.
Renting is used as a
first step for individuals who move away from their families and live with roommates.
Also newlyweds rent to secure their own place to live until they can save
enough for a down payment on a single family house.
It usually makes sense
to avoid rental costs. Families often keep grandma’s house when they inherit it.
In the US, property ownership is the key to wealth accumulation.
In the US, rental
costs vary from $300/mo. in small cities in rural counties to $1500/mo. in
larger metro areas. The US average is $1231/mo.
The least expensive 2
Bedroom apartments by city are in:
Wichita KS $623/mo.
Tucson AZ $628/mo.
Tulsa OK $672/mo.
Detroit MI $678/mo.
Indianapolis IN
$692/mo.
Memphis TN $692/mo.
Arlington TX $713/mo.
Columbus OH $722/mo.
Louisville KY $727/mo.
Kansas City MO $730/mo.
Apartment rental in
Atlanta GA for a 2-bedroom ranges from $783/mo to $1462/mo.
Apartment rental in Manhattan NY City for a 1 bedroom averages
$3600/mo.
Unlike education and healthcare
costs, apartments are priced by supply and demand. The most crowded cities are
the most expensive.
Norb Leahy, Dunwoody
GA Tea Party Leader
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