What is the average cost of a home in your area?

[Tonya]

Sevens thread made me think of this...

What is the average cost to rent/buy a home in your area?

An average one bedroom apartment rents for $800.
An average two bedroom apartment rents for $950.
An average three bedroom house rents for $1400.

An average three bedroom house sells for $200,000-$230,000.

[Nomilynn]

The market is really hot up here right now so to buy it's about $365,000 average to buy.

For rent, I don't know really because I have an incredible deal, but I think it's probably around $800 plus for one bedroom and up from there.

[G.P.girl]

i'm not really sure
we have a four bedroom house for about $1300 i think.

[GoldenRetrLuver]

Homes in my area are going for $370-$400,000 easy. The market has been hot lately. Even the fixer upper houses sell in less then a week. :eek:
When we went to Arizona for the PT Meeting, and also to visit a few family members in Phoenix, she told us she purchased her home for about $65,000 about 10 years ago, and a nice home over there would now cost between $250-300,000. My dad and I were in disbelief. What a difference! :eek:

[Miss Meow]

To rent:

One bedroom - $180 per week
Two bedroom - $250 per week
Three bedroom - $320 per week

That's for an average type of place about half an hour from the city. Outer is cheaper, and inner is much dearer.

The average house price is $360,000 for a three bedroom, standard kind of house, I think. Captain, help me! :) Prices have gone mad over the last few years; very few young people will be able to own homes in the future.

A former co-worker and her husband bought a small two bedroom place in Sydney, complete with $400,000 mortgage. I wouldn't sleep at night if I owed that much money.

[lovemyshiba]

Renting varies all around this town.
Average 1 bedroom--probably around $6-700
2 bedroom--$1000

As far as buying a home, Forbes magazine just rated State College PA as the most overpriced real estate market in the country:eek:

Small homes run anywhere from $150,000 to $250,000, while average homes run anywhere from $300,000 to $500,000. It's not rare to read the real estate section in the newspaper on Sundays and find houses around the million dollar mark.

[Karen]

Found these Newton statistics online:

The median value of an owner-occupied housing unit in Newton is $438,400, according to the 2000 U.S
Census.

The median monthly rent for renter-occupied units was $1,083 in 2000, according to U.S Census.

That was, of course, 4 years ago. Things have only gone up. I know that a small home ( 1 1/2 story, 3 bedroom) on our street rents for $2,500 a month.

[NoahsMommy]

Housing here is expensive!! It seems like we'll never be able to afford a house until I have my PhD!!! :rolleyes:

The new "median" in this area, for an older house (30 years old) is about $450,000-$500,000! They're building "low-income" housing in the town my parents live in and they start at $428,000! That's low income?

My parents are in a new house, they bought it for $378,000 three years ago. They purchased the house when it was little more than a concrete slab. By the time they moved in, they were selling the same model for $475,000 (3 years ago). There is a house in their neighborhood for sale, its smaller than there's and not upgraded. Its on the market for $725,000!

Amazing!!!

[Uabassoon]

Rent here is fairly cheap I pay $395 a month and that includes water and electrity for my 1 bedroom apartment. On average I think one bedrooms are anywhere between $350 and $500. When I lived in a two bedroom I think the rent was around $550.

[Sevens]

Suburbs---two bedroom apartments start at $650....city starts at around $700...downtown starts around
$1000.

Most houses in the suburbs can rent for $850 to $1300 a month.

Houses vary a lot too. There's up and coming neighborhoods nothing is over $140,000. Then there's the suburbs where it goes from $175,000 to $300,000. But then my boss lives on a golf course/country club sort of area and her house 3 bedrooms/2 bathrooms and it's worth around $265,000. We have a lot of million dollar homes. I wouldn't want to be responsible for everything that goes along with a million dollar home.....mortgage, cleaning costs, decorating costs....ick!

[IttyBittyKitty]

Originally posted by Miss Meow
To rent:

One bedroom - $180 per week
Two bedroom - $250 per week
Three bedroom - $320 per week

That's for an average type of place about half an hour from the city. Outer is cheaper, and inner is much dearer.

The average house price is $360,000 for a three bedroom, standard kind of house, I think. Captain, help me! :) Prices have gone mad over the last few years; very few young people will be able to own homes in the future.

A former co-worker and her husband bought a small two bedroom place in Sydney, complete with $400,000 mortgage. I wouldn't sleep at night if I owed that much money.

$400,000? That's nothing in Sydney these days ... it would buy you a shack out in the back of beyonds!

As for the Brissie perspective, renting prices are based on where you are ... I live in a bit of a "downmarket" suburb that has just been discovered by the yuppies ...

An average one bedroom apartment rents for $150 p/w
An average two bedroom apartment rents for $180 p/w
An average three bedroom house rents for $250 p/w

(probably not for much longer! These will all go up I imagine). To put this in perspective, the unit I live in was valued at about $110 - 120 k when we moved in. After a year, units in the same complex are now going for $200 k.

An average three bedroom house sells for $260,000 - $300,000. And that's just for an ugly 70's dump. A nice house (three bedroom, in a decent area and with nice furnishings etc) will set you back around $400,000. House prices in Brisbane are going crazy. Units and townhouses are a bit better. I agree with what you say about young people being able to buy - Scott and I probably never will be able to if things keep going this way!

[lbaker]

umm, are you guys talking U.S. dollars or Aussie dollars? My tax assessment for next year (I own my 30 yr old house) say it's for a $588,000 plus home. That's ridiculous. I have a modest, two story, three bedroom, brick, one full, one half bath home. But it's in a prime Washington DC suburb and I have a large lot with lots of huge trees and such. sigh

[Tonya]

Originally posted by Uabassoon
Rent here is fairly cheap I pay $395 a month and that includes water and electrity for my 1 bedroom apartment. On average I think one bedrooms are anywhere between $350 and $500. When I lived in a two bedroom I think the rent was around $550.

Yeah, I noticed that about Arizona when I went there...the housing is reasonable and the job market is pretty good too. You just gotta brave the heat. :p

[BCBlondie]

Geez.. I live in one of the most expensive places to live in the US...SF Bay Area in California (or so I've heard)... My neighbor sold his house for near a million dollars!! :eek: Rent probably goes well over 1,000 a month. It is SOOOOO expensive to live here now! It's a good thing we bought our house back when it wasn't so expensive!! :eek:

[gini]

I live right in the heart of Los Angeles and in an older section of homes. Immediately west of me is the border of homes that all run $1,000,000 +.

I just got a card in the mail advertising a home that is just one block from me. It is priced at $1,198,000. I about fainted. It is on a very heavily trafficed street. I drove by to have a look at it and it is by no means a mansion - just a lovely older home and not that large.

The ad says "Upgrades" with some pictures. The lot is a standard lot. Getting in and out of the driveway because of the traffic must be a nightmare.

I know that I could not afford to buy my home today or pay the property taxes that would go with the current market price.

I do not know how couples just starting out are ever going to be able to afford a home - because salaries will not allow house payments of $4,000 + a month plus taxes.

[catnapper]

Boy housing varies wildly around here. In a three miles radius, you'll find a row home for $40,000 (or less) then you'll find a single home on 1/4 acre selling for half a mil... then you'll have another single home sitting on half an acre for over a million. There's lots in between. My house is rather large and if we could pick it up and move it three blocks over, we'd get more than twice the value its worth now. We are "on the wrong side of the tracks" but in this case, wrong side of Park Road.:rolleyes:

The school district is wild because of the vast differences in the price of homes. There are two towns: one rich, one working class. If you happen to live in the working class town, like I do, your kids are basically discriminated against by kids, parents, teachers, coaches. It stinks, and its the truth. There's actually a rather famous play written by a local person talking about the snobby part of town vs. the not-well-to-do.

[gini]

I know exactly what you are talking about catnapper.

People ask me if I live on the "west" side of Wilton Place or the "east" side of Wilton Place.

When I say "east" I get a "SNIFF"

However, Wilton Place is where the $1,198,000 home is for sale.
Go figure!

I am also in a different school district which matters when you go to sell.

[krazyaboutkatz]

Yes, most of California is very expensive. I live in a 2 bedroom condo and I co-own it with my parents. I have to rent out the 2nd bedroom to help pay for the monthly mortgage payment. I currently rent it out for $575 per month but when the economy was better I was renting it out for $650 per month.

I don't know how young couples can afford to buy houses either. My brother just recently moved to San Diego and paid around $800,000 for the house. Yes, it's a very large house and is on a fairly large lot but I sure don't know how he can afford it. His wife doesn't work and they also have 3 kids. They used to live in San Clemente and I think their house sold for around $650,000.

My parents live in Saratoga and most of the house's in that area are in the millions.:eek:

[Cincy'sMom]

I have sticker shock from the cost of homes inthis thread!!!!!

In the Toledo area I am sure you could find everything from inner city, "dumps" for $40,000 or $50,000 to multi million dollar homes in gated communities. Our neighborhood is more middle of the road, and I would guess most homes here go for $90,000- $200,000.

I think most aprtments in the area are very resonable. When I was living in one 4 years ago, I was paying $370/month for a large 1 bedroom, in Sylvania (one of the "desired" suburbs of the area). In the city of Toledo, the same apartment was about $275/month. Of course, this was 4 years ago, but I know a woman I work with is currently paying about $530/month for her aprtment, and that is for one that has fireplace and washer dryer hookup inthe apartment, allows pets, and has a health spa.tanning beds, etc., included in the rent.

[Miss Meow]

Originally posted by IttyBittyKitty
$400,000? That's nothing in Sydney these days ... it would buy you a shack out in the back of beyonds!

...

That was just the amount they borrowed :eek: It horrified me, and that's not even a large mortgage by modern standards!

Laurie, yes, Aussie dollars, which is about 80% of US currency. It's amazing how much your property is worth when it comes to the tax man :)

[Kater]

Luckily we just had an article in our local paper about home prices or I would have no clue. The title of the article is "O'ahu home prices up 25%" and they aren't joking!


typical single-family house on O'ahu = $439,000
median condo price = $190,000


I don't know about rental prices - the article only mentioned these two.

[CathyBogart]

*grumbles* Well, a studio here starts around $800/mo....if you're lucky. One bedrooms closer to $1100, and I haven't even looked at anything bigger, it's scary.

We recently sold our dinky four bedroom house for $240,000, and our new house is quite near million dollar or more homes. I don't know how much we paid for this house and I don't want to. Hehehe

[BitsyNaceyDog]

4 years ago (when I was just a mere 18) my husband and I bought our 3bedroom, 2 bath 1997 moble home with a small but nice lot for $75,000. I know prices have gone up, an older couple I know just sold their 1980 single wide 2 bed 1.5 bath and no lot (just a small side lawn) for $73,000.

A girl I work with is renting a small 1 bedroom apartment that doesn't look like it's been up dated since 1970. She just got it and is in the process of moving in. She is paying $460 a month, which includes water and electric.

My husband and I have been talking about moving to Maryland where he has family and he can work in D.C., but after reading lbaker's post maybe we should think twice.

[lbaker]

Don't let my post scare you off kblaix, that's just in my older "rich folks" neighborhood that's in Mountgomery County. Medium income always in the top three in the nation :rolleyes: (I wish MY income was half the so called average) There are other very nice neighborhoods where it's not nearly as expensive to buy or rent. I just got a great deal when I bought this place 30 yrs ago