Jeffrey at Zettler Hardware tipped me off to this story below when he posted it on ColumbusUnderground .comlast night. Columbus usually ranks pretty well in these types of Forbes lists, but I think this is the first #1 spot I’ve seen in awhile. Great to see the city getting some national attention for our affordability. And the even better part is that it’s not just for renters either. You can buy a historic brick home for $39/sqft in a downtown Columbus neighborhood just like I did, and enjoy living in a great urban environment for next to nothing.
Best And Worst Cities For Renters
Matt Woolsey, 01.07.08Writing a monthly rent check often feels like lighting money on fire. You’ll never again see that cash, you build no equity and there are no tax benefits.
But renting makes sense to those unwilling or unable to buy a home in an uncertain housing market. The number of such Americans seems to be growing; last month mortgage applications fell to their lowest level in a year.
That’s good news for landlords–especially those in New York City and San Francisco. In these cities, tenants pay the highest rents in the country by a significant margin. Those renting a median-level place in the five boroughs can expect to pay $2,922 a month this year. That’s up 6.6% from last year. In the City by the Bay, it’s a more affordable $1,904. Here, though, rents are growing faster than anywhere else; they’re up 7.8% from last year. Renters in Columbus, Ohio, are better off; there, they pay $626 a month.