Ways to Save Money

$1,500 in Rent — for That?! Here’s How Much Space You’ll Get in 30 U.S. Cities

July 22, 2016
by Susan Shain
Senior Writer

Paying rent is not a good feeling.

On the first of each month, I feel like I’m throwing a significant percentage of my paycheck into a black hole — or worse, to my landlord.

On the bright side, I’m paying for a comfortable amount of space; if I lived in a different city, that might not be the case.

That fact really hit home when I looked at a recent study from RENTCafé, which revealed how many square feet $1,500 in rent will get you in 30 American cities.

Although I knew rent varied widely depending on where you live, the results — and especially the visual way in which they were presented — were pretty striking.

You’ve gotta see it for yourself…

How Much (or Little) $1,500 in Rent Gets You in 30 Cities

Using data from its sister company Yardi Matrix, RENTCafé analyzed “apartment size and rent data across all multifamily rental properties of 50+ units across the 30 largest US cities by population.”

Here are the results (hover over a city to see exact numbers!):

Wow.

In other words, if you somehow managed to find a studio in Manhattan for $1,500 per month (good luck!), it would fit “inside the living room of a four-bed, three-bath Memphis home you could rent for the same amount of cash.”

By the way, this isn’t the first study we’ve seen that makes Tennessee look like a pretty good place to live…

Not impressed by your city’s square footage?

It might be time to move, get some roommates, trade skills or rent out your spare room on Airbnb. You could also try using one of these creative strategies to lower your rent — or negotiate it before you move in.

Or, consider buying a place.

It might not be as difficult as you think: You can get help with this program or this one, or in certain cities, even find a house for free.

Your Turn: How did your city stack up?

Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.

by Susan Shain
Contributor for The Penny Hoarder

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