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From BusinessWeek:
Top 10 metro areas with low rents
#2 Columbus, OhioRents remain cheap in the state capital. Apartment landlords are increasingly competing with home sellers who are struggling to find buyers and are instead looking for tenants. Asking rents in Columbus — home of Ohio State University, the nation’s largest college campus — jumped 2% in the fourth quarter, compared with a year earlier.
well, in regards to this conversation I’m thinking of things like having the same square footage of a residence, eating the same kinds of foods, being able to enjoy the same kinds of entertainment.
On a related topic (housing cost vs. income over time) this graphic from yesterday’s New York Times is pretty interesting.
No columbus data, but they do include Cleveland and about two dozen other markets. Gives you a good view on the ratio of home value to income.
http://www.nytimes.com/2009/04/22/business/economy/22leonhardt.html?_r=1&scp=1&sq=housing%20bust%20not%20over&st=cse
I’m not the most tech savy, so hopefully this link works :)
Refer to the post of Columbus being one of the highest taxed cities in the US
:)
Tigertree–that’s only $14k extra per year, which would easily be eaten up by everything else that’s more expensive in New York.
You could add an extra $1000/month if your hypothetical individual dumps their car. So that would be an extra $26k per year…which would be immediately swallowed up by higher income taxes.
Bankrate.com’s cost of living calculator (http://www.bankrate.com/calculators/savings/moving-cost-of-living-calculator.aspx) said a $100k salary in Columbus would be $235k in New York. (It assumes, incidentally, a $780 Columbus rent and a $3500 New York rent.)
How does $1000/ month equate to $26k per year? What am I missing there.
Oops got it.
I moved to Columbus from DC because DC is so expensive… I just couldn’t see myself living there permanently. The strange thing is that I actually got a raise when I moved!
Many people in DC just seemed miserable, and I attribute a lot of that to the expense of living there… it just weighs on you daily. A friend of mine had a one bedroom apartment and it cost $3,000 a month. Think about what you could get in Columbus with that kind of money! I’m sure you’d be happier too ;-)
Apartments full in this market
Sunday, July 5, 2009 3:32 AM
BY JIM WEIKER
THE COLUMBUS DISPATCH
It’s the other side of the housing coin: While sales of homes continue to languish in central Ohio, some landlords are celebrating boom times.
“This is the best I’ve seen in the last nine years,” said Dave Anderson, president of Homestead America, which manages about 2,500 apartments in the Columbus area.
READ MORE