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'Renters Are Struggling': Economists Back Tenant-Led Push for Federal Rent Control
(www.commondreams.org)
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this post was submitted on 06 Aug 2023
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2015 - rent was $1200
2017 - rent was $1600.
2021 - rent was $2100 average. I was paying $2400.
2023 - rent was $2500 average. I'm paying nearly $3000.
These are all two bedroom, two bathroom apartments in the same city.
I've asked college age tenants who lived here how they can do it. They split it with roommates (2bd/2bath - like four ppl living there)
My city has been even more dramatic.
2016 - $680
2022 - $2200
Over 300% increase in six years.
That's crazy. I'm in a decent sized city and the average rent for a 2/2 is ~$1800. Hell my mortgage is less than $3k/month.
My PITI for my mortgage is $3350/month. Mortgage is $28xx something. It’ll be nice whenever I can get that mortgage insurance off. I was renting an admittedly very nice 2 bed 2 bath apartment for the same before I bought. Now I have a 3x2 1000sqft rambler and know that, while the mortgage is high, it will be lower than rent in the next 5 years.
that many people in the house has to be breaking fire code...
Your city badly needs zoning reform, not to exacerbate this problem with rent control (further stifling new building)