USA Today: This is why Millenials are struggling, their median annual rent is $97,400

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[ARCHIVED THREAD] - USA Today: This is why Millenials are struggling, their median annual rent is $97,400 (Page 1 of 5)

Posted: 5/14/2018 8:40:40 PM EDT

DANG! Where are they living?!

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https://www.youtube.com/watch?v=MdKbNrANrJs

Posted: 5/14/2018 8:41:51 PM EDT

[#1]

That can't be true.

Posted: 5/14/2018 8:42:17 PM EDT

[#2]

You gotta love that downtown nightlife hipster chic life style dawg!

Posted: 5/14/2018 8:42:53 PM EDT

[#3]

I believe it.

< millennial

I don't pay that much, though. But have seen high rents.

Posted: 5/14/2018 8:43:25 PM EDT

[#4]

Sure, they are all paying over $8k a month in rent.

I gotta get me some rental properties!!!

Posted: 5/14/2018 8:43:35 PM EDT

[#5]

Seems highly unlikely, given the average income in the US is what, in the high 40ks? And average millenial income would be below that by a wide margin due to age and time in the workforce if nothing else.

Posted: 5/14/2018 8:44:09 PM EDT

[#6]

There’s no way in hell thats true.

1). Millennials probably don’t even have that as a median income, let alone after taxes
2). If you’re living on 8k rent month, you’re doing something wrong. You could buy a mansion for that price.

Posted: 5/14/2018 8:44:16 PM EDT

[#7]

House payment. Less then 10k annually. Anyone can sign a screwed up contract and complain about it.

Posted: 5/14/2018 8:44:39 PM EDT

[#8]

That number doesn’t pass first scrutiny.

Posted: 5/14/2018 8:46:07 PM EDT

[#9]

Maybe in San Francisco or Palo Alto. I bet USA Today just can't do math.

Posted: 5/14/2018 8:46:09 PM EDT

[#10]

Dude, that is like $8,000 a month for rent. I don’t believe it.

Posted: 5/14/2018 8:46:24 PM EDT

[#11]

Over $8k a month in RENT? Are they smoking crack?

Posted: 5/14/2018 8:46:35 PM EDT

[#12]

Posted: 5/14/2018 8:46:55 PM EDT

[#13]

Uh, no

Posted: 5/14/2018 8:47:07 PM EDT

[#14]

Quote History

Quoted:

View Quote

Posted: 5/14/2018 8:47:18 PM EDT

[#15]

some times its cheaper to buy a house then pay rent.

it was that way for bigpony and I

monthly payment is around 400 with out all the other stuff added to it.

Posted: 5/14/2018 8:47:19 PM EDT

[#16]

I'm calling major BS on this. I am familiar with a youngster who's just rented an apt. in a fairly nice part of L.A., and paying $2k/mo. My excellent math skills say that's $24k/yr. Your post says the MEDIAN rent is 4x that.

Does not compute.

Posted: 5/14/2018 8:48:02 PM EDT

[#17]

How did they let that get produced? It's like the editors don't understand math.

Posted: 5/14/2018 8:48:18 PM EDT

[#18]

lol

Bullshit.

Posted: 5/14/2018 8:48:31 PM EDT

[#19]

Got to be that they only interviewed millenials in Manhattan to come up with those numbers. Because that certainly sounds like midtown Manhattan rent prices and not the rest of the US.

Posted: 5/14/2018 8:48:58 PM EDT

[#20]

bullshit

dem poor muh-lennyeeums..

Posted: 5/14/2018 8:49:01 PM EDT

[#21]

From the people who brought you the AR15 chainsaw attachment. Journalistic integrity still intact I see.

Posted: 5/14/2018 8:49:15 PM EDT

[#22]

"Median"

I know a guy with 3 rented places in a large city, and the rent for his 40k sq ft downtown warehouse is $35,000/month. So maybe he skews the numbers a bit

Posted: 5/14/2018 8:49:22 PM EDT

[#23]

Quote History

Quoted:
I'm calling major BS on this. I am familiar with a youngster who's just rented an apt. in a fairly nice part of L.A., and paying $2k/mo. My excellent math skills say that's $24k/yr. Your post says the MEDIAN rent is 4x that.

Does not compute.

View Quote

2k a month ????? jesus, fuck that!

Posted: 5/14/2018 8:49:38 PM EDT

[#24]

Posted: 5/14/2018 8:49:51 PM EDT

[#25]

Quote History

Quoted:
Over $8k a month in RENT? Are they smoking crack?

View Quote

Who, USA Today, or the people that think "millenialls" pay $97,400 per year in rent?

Posted: 5/14/2018 8:50:10 PM EDT

[#26]

Bullshit.

Posted: 5/14/2018 8:50:29 PM EDT

[#27]

Bullshit I have lived in a 3000sq ft house with a heated salt water pool in FL for $1200 a month

That is the most I have ever paid.

my House is over 3k square ft(1200 upstairs 30% finished) and my mortgage and T/I is only $1050.

Quit trying to live beyond your means kiddos

Posted: 5/14/2018 8:50:47 PM EDT

[#28]

How is that possible when most Millennials still live with their parents?

Posted: 5/14/2018 8:51:45 PM EDT

[#29]

Quote History

Quoted:
Dude, that is like $8,000 a month for rent. I don't believe it.

View Quote

Yep total bullshit

Posted: 5/14/2018 8:52:48 PM EDT

[#30]

They dropped some key words from the video. It should be "you could spend $97k in rent before you turn 30."

https://www.usatoday.com/story/money/personalfinance/real-estate/2018/03/30/you-could-spend-97-k-rent-before-you-turn-30/468889002/

Posted: 5/14/2018 8:52:57 PM EDT

[#31]

I don’t know ANYONE who pays over 1k a month. And they’re laiming HALF of Millennials pay over 8k?

Posted: 5/14/2018 8:53:08 PM EDT

[#32]

Quote History

Quoted:
Over $8k a month in RENT? Are they smoking crack?

View Quote

Yeah, thats high. I only pay $3,200.00 a month in rent. A friend is about to rent his house out for $5,000.00 a month.

Posted: 5/14/2018 8:53:23 PM EDT

[#33]

Bullshit. That figure probably includes a bunch of people sharing an expensive apartment and doesn't account for the # of persons in the unit.

Someone making $97k a year can live cheap and buy their own place.

Posted: 5/14/2018 8:53:31 PM EDT

[#34]

They're off by a decimal point.

Posted: 5/14/2018 8:53:58 PM EDT

[#35]

Thats not the rental price in my A/O
Given a studio is going for 2K and a 1 BR. is 3k

Posted: 5/14/2018 8:54:33 PM EDT

[#36]

My son paid $2,000 a month in Alexandria VA for a three bedroom townhouse, before they bought a house. My nephew just bought a $600,000 house in Seattle, one of the worst markets there is. Where in the world would you have to pay $8,000 a month?

Posted: 5/14/2018 8:54:50 PM EDT

[#37]

what the fuck.

When we rented, we were in "luxury" apartments and we only paid 2,400 a month. Brand new building in a swanky part of town.

Posted: 5/14/2018 8:54:52 PM EDT

[#38]

Um, no.

Posted: 5/14/2018 8:54:56 PM EDT

[#39]

I dunno. I'm a millennial and my mortgage is like 1100/mo.

So. Maybe they shouldn't live in these expensive ass places.

Posted: 5/14/2018 8:55:00 PM EDT

[#40]

Quote History

Quoted:

View Quote

Posted: 5/14/2018 8:55:10 PM EDT

[#41]

I rent a 3bdrm house for $850/month, I must be living in major poverty.

Posted: 5/14/2018 8:55:15 PM EDT

[#42]

Bullshiiiiiit

Of course my current rent is $4,800 a year

Posted: 5/14/2018 8:55:29 PM EDT

[#43]

Quote History

Quoted:

2k a month ????? jesus, fuck that!

View Quote

Yup. People don't think L.A. rents be like that but it do.

On the plus side, salaries are commensurate or they wouldn't get any high skilled workers. The salary and benny package for this youngster right out of school you wouldn't believe.

Posted: 5/14/2018 8:56:12 PM EDT

[#44]

Posted: 5/14/2018 8:56:34 PM EDT

[#45]

Quote History

Quoted:
2k a month ????? jesus, fuck that!

View Quote View All Quotes

View All Quotes

Quote History

Quoted:

Quoted:
I'm calling major BS on this. I am familiar with a youngster who's just rented an apt. in a fairly nice part of L.A., and paying $2k/mo. My excellent math skills say that's $24k/yr. Your post says the MEDIAN rent is 4x that.

Does not compute.

2k a month ????? jesus, fuck that!

$12-1,400 will get a 1 bedroom condo on the beach around here. $2k would net a really baller place... $8k would get a mansion on the beach.

Posted: 5/14/2018 8:57:02 PM EDT

[#46]

I’m glad I payed cash for my place

HOA, property tax, insurance, electric, WST. Comes out to $238 a month or $2,800 a year to live here.

Cheap living for the win

Posted: 5/14/2018 8:57:15 PM EDT

[#47]

Quote History

Quoted:
They dropped some key words from the video. It should be "you could spend $97k in rent before you turn 30."

https://www.usatoday.com/story/money/personalfinance/real-estate/2018/03/30/you-could-spend-97-k-rent-before-you-turn-30/468889002/

View Quote

That makes far more sense.

Posted: 5/14/2018 8:57:23 PM EDT

[#48]

y'all are fucking slacking.

Posted: 5/14/2018 8:58:26 PM EDT

[#49]

From the original article at https://www.usatoday.com/story/money/personalfinance/real-estate/2018/03/30/you-could-spend-97-k-rent-before-you-turn-30/468889002/

Rent Cafe's report found that younger Millennials are paying a median rent total of $97,400 in 2017 dollars between the ages of 22 and 29, and those who are now 30 paid a median rent total of $93,400 in that eight-year span.

OP should be banned for fake news.

Posted: 5/14/2018 8:58:50 PM EDT

[#50]

“My rent in DC is like 3x my rent in Kansas, for half the space.”

WTF did you expect?

“I feel that I don’t have a solid financial base like my parents did at my age.”

What, are you like 23? When we got married at 23 we’d sit down, pay the bills, and have like $19 in our checking account. We worked to improve ourselves. I worked full time and had a part time job as well. We busted our asses, ate a lot of spaghetti (NJ ramen

) and saved.

Like everyone else we knew.

Suck it up, Sunshine.

[ARCHIVED THREAD] - USA Today: This is why Millenials are struggling, their median annual rent is $97,400 (Page 1 of 5)

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