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.
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!

[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

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!!!

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.

[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!! 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!!

[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.