Since housing is one of the most significant expenses that people have, it makes sense to spend the most amount of time trying to minimize this expense. Imagine reducing your rent bill! Many factors go into choosing where to live, and all of them are important. One of the biggest factors is the price.
Living in a high cost-of-living area or a low cost-of-living area can make a huge difference in your financial future and the level of financial stress you have. Having extremely high monthly bills can often be a huge stress factor for many people. When you are offered or are looking for a job that needs relocating, you need to know how much you will spend on rent to make sure that you can make it work.
Thinking of Moving to Houston, TX?
One of the biggest new job markets (and an up and coming Jewish community) is Houston, Texas. if you are looking into moving here, then you need to consider a few factors including rent, cost of living, and taxes.
Rent research Tips:
There are so many great resources to help you research the cost of rent in, say, Houston, TX. you can look up different rents in different neighbors and other size houses or apartments. It is a good idea to get an apartment’s average price in your ideal size, so you know approximately what you are looking for. Knowing this information can help you weed out apartments too expensive or too cheap (usually something wrong with it).
Of course, it can also help you figure out what is perfect and what is a steal! According to Zumper, the average rent for a 1-bedroom apartment in Houston, TX is $1,106. When you look at apartments in different neighborhoods and buildings, you know what a cheap area is and what is an expensive place and then decided accordingly.
You also want to know at the rental market is in a specific city. Knowing that 52% of households in Houston, TX are Renter-occupied can give you a sense of the market you are dealing with: a nice amount of rentals but not overwhelmingly transient.
Do you want to know if now is a good time to move to a specific city? What are the city’s chances of emptying, or is it up and coming? Well, that information is available too. Over the past month, the average rent for a studio apartment in Houston increased by 4% to $1,188.
The average rent for a 1-bedroom apartment increased by 5% to $1,106, and the average rent for a 2-bedroom apartment increased by 5% to $1,377. You can learn a lot from that information (taken from Zumper). Prices are going up. Not tremendously- so you don’t have a massive influx of people. Prices are not going down, so people aren’t fleeing the city in droves to better pastures. They are staying, and more people are slowly moving in. That can be a good thing for a city.
You need to do what is best for you and your family, and there are so many ways to decided where to live. Knowing all the information that you can before you decide to move somewhere is a great way to make sure that you are making the right choices for yourself and your money.
This can be useful information if both neighborhoods are options for you. Maybe check out the cheaper area first and see if you like it? The amount of money that you will save can be a massive boon for your future.
Remember, the less money you spend on rent, then the more money you have to save.
The less money you have to spend on rent -then the less money you need to come up with each month. The lower your payments, the more freedom you have and the less stress you are under. That is the goal! You definitely want to do your best to have the lowest rent possible, within reason.
Choosing Where to Live
Choosing where to live is one of the biggest factors in your quality of life. Having a good neighborhood, having a good apartment is really important for your happiness and well being. Doing your best rent research will be the best way to make sure you are making the best decision possible.
It is pretty crazy how one of the biggest decisions we make is often made with very little research and knowledge. Zumper helps give you the best rent research information possible so that you can make this massive decision with all the factors known to you. You don’t have to make these decisions in the dark. You can make sure you know exactly what you are doing and make the best choice possible.