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The Places in America Where Most Income Goes to Rent

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101–110 of 154 posts

Re: The Places in America Where Most Income Goes to Rent

#101
post #7

It's interesting that some of the highest and lowest after-rent salaries are in the Bay area. That's a pretty clear indicator of SF's constrained housing supply in particular. It's also interesting so many low ranked after-rent cities are in Florida, which might reflect a strong desire to live there despite the lack of job opportunity.

It could also be that Florida has no personal income tax and the sales tax rates are reasonably low. I think property tax is about average.

Re: The Places in America Where Most Income Goes to Rent

#102
post #52

Earlier quoted context omitted.

What is the norm? Fewer, or more bedrooms than two?

If you are a family or couple renting a 2BR, you probably have more than one income earner. Exception to this case would be a single parent with children, but that rate is not especially high. And smaller households (i.e., just a couple, or a single mother and one child, etc.) are not especially likely to get a 2BR. If you are a single person with a single income, you are not renting a 2BR. You might have a roommate,…

> If you are a single person with a single income, you are not renting a 2BR. You might have a roommate, but in that case you are a two income household splitting the rent on a 2BR.

Hi, I'm a single person on a single income renting a 2BR townhouse.

I've lived in my current home for just over a decade (since November 2007), and during this time I've only had roommates for two very short periods. Both of those times were when I temporarily took in friends who were suffering from long-term unemployment and had nowhere else to go. One of them, in 2008, got a new job and moved out a few months after he moved in with me, and the other, in 2011, lived with me for two weeks before he mended fences with his parents and decided to move back to his hometown.

I think I might have had a roommate for a grand total of six months in the nearly 11 years I've lived here.

I like my space.

(edit: Oh, and my best friend just bought a huge house in an exurb. He's single and has no roommates.)

Re: The Places in America Where Most Income Goes to Rent

#103

Whomever is a CTO and making $140k a year...really needs to rethink their path in life. That is ridiculous. The amount of responsibility a CTO has at a company of almost any size, is a lot. I don't even know why a company would bother having a CTO if that's all they think it's worth.

In many, probably most, companies a CTO is not necessarily someone coming from a software developer background but instead essentially an IT manager. And most companies are not headquartered in SF/Seattle/NYC, so $140k/year goes a lot farther there. That $140k figure also does not account for equity/bonuses

Re: The Places in America Where Most Income Goes to Rent

#104
post #82

Earlier quoted context omitted.

As someone who grew up in Michigan, left, and visits familiy regularly throughout the year...I can't imagine anyone thinking the weather is desirable. Like pmiller2 said, summers are humid af, 80-90%, on a regular basis with 80-95 temps just isn't enjoyable. The winters are rather cold, with quite a lot of snow and gray skies for months. Winter bleeds so far into spring. I remember years as a kid, where we'd get a fo…

While in Michigan, over a period of years, I saw snow come out of the sky in literally every month except July. Granted, sometimes it did not stick, but that's saying something. I've seen those giant piles of snow in huge parking lots still melting well into summer.

I remember those giant piles of snow, fading to black over the course of months, while never seeming to melt until well into summer.

What a gross and weird sight.

Re: The Places in America Where Most Income Goes to Rent

#105

Whomever is a CTO and making $140k a year...really needs to rethink their path in life. That is ridiculous. The amount of responsibility a CTO has at a company of almost any size, is a lot. I don't even know why a company would bother having a CTO if that's all they think it's worth.

This is a silly comment. What if you're a 5 person bootstrapped company and not making much revenue yet?

Re: The Places in America Where Most Income Goes to Rent

#106

Whomever is a CTO and making $140k a year...really needs to rethink their path in life. That is ridiculous. The amount of responsibility a CTO has at a company of almost any size, is a lot. I don't even know why a company would bother having a CTO if that's all they think it's worth.

This is a silly comment. What if you're a 5 person bootstrapped company and not making much revenue yet?

Then, just like YC would teach you, you don't need a CTO.

Re: The Places in America Where Most Income Goes to Rent

#107

Earlier quoted context omitted.

A booster's 2 cents: Yes, Texas's lack of income tax (and Detroit's city income tax) would certainly catapult Dallas ahead of Detroit on this list if taxes were properly factored in. Detroit is sort of a well-known "sleeper" city that "might be nice to live in someday", but I think word will get out sooner than later that it's got a lot of livability advantages right now. Great arts/food/drink scenes, 4 major sports…

I used to live pretty near Detroit, and, honestly, most of those things don't ring true to me. As far as housing goes, if you work in Detroit, you can easily live in between Detroit and Ann Arbor and get a much better deal on housing. Speaking of Ann Arbor, why not just live there, if proximity to the university is important? And I'm not sure how you can count the Lions as a "major sports team." ;) (kidding on that o…

Houston averages 9⁰ F higher than Detroit in the summer, with higher humidity.

I would call the Houston weather "too hot" for about 6 months of the year, vs parts of July and August for Detroit.

Re: The Places in America Where Most Income Goes to Rent

#108

Earlier quoted context omitted.

If you are a family or couple renting a 2BR, you probably have more than one income earner. Exception to this case would be a single parent with children, but that rate is not especially high. And smaller households (i.e., just a couple, or a single mother and one child, etc.) are not especially likely to get a 2BR. If you are a single person with a single income, you are not renting a 2BR. You might have a roommate,…

> If you are a single person with a single income, you are not renting a 2BR. You might have a roommate, but in that case you are a two income household splitting the rent on a 2BR. Hi, I'm a single person on a single income renting a 2BR townhouse. I've lived in my current home for just over a decade (since November 2007), and during this time I've only had roommates for two very short periods. Both of those times w…

Same here. I lived in 2BR apartments by myself until I moved in with my girlfriend. One office, one bedroom. Life is better when you can literally sprawl out on the floor.

We live in a 4BR with a basement, with two roommates who will be (slowly) transitioning out of the house over the next couple years. And with two dogs. It's literally basically Just Enough House to feel comfortable for us.

Re: The Places in America Where Most Income Goes to Rent

#109

Whomever is a CTO and making $140k a year...really needs to rethink their path in life. That is ridiculous. The amount of responsibility a CTO has at a company of almost any size, is a lot. I don't even know why a company would bother having a CTO if that's all they think it's worth.

In many, probably most, companies a CTO is not necessarily someone coming from a software developer background but instead essentially an IT manager. And most companies are not headquartered in SF/Seattle/NYC, so $140k/year goes a lot farther there. That $140k figure also does not account for equity/bonuses

Maybe, but that's avg. So, some CTO's make 350-1M+ a year and so I'm supposed to believe many CTO's make less than 140k, maybe a lot less? Maybe indeed should slice the data in ways that make sense, but company size, or area only. As someone that manages 120+ people...I know a lot about what engineers and other tech workers make. These numbers are straight silliness.

Re: The Places in America Where Most Income Goes to Rent

#110
post #78
post #48

Earlier quoted context omitted.

They also weirdly assume you have a 2BR on a single income, which is not the norm.

Is it not the norm? It certainly was until quite recently. A young family with one breadwinner and a couple of small kids might reasonably want to live in a 2BR, in many countries not just USA.

> A young family with one breadwinner

That norm is quickly going out of style at least

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