Renting feels easy right up until the day the lease renews with another increase tacked on. No equity, no control, and a landlord who can change the terms whenever the market shifts. Compare that to attached-home ownership, and the math starts looking very different once you actually run the numbers over several years instead of one.
Continue reading Why Buying Attached Often Beats Renting Long-Term
Living in a small apartment can feel limiting at first. Storage runs out fast. Furniture crowds the room. Every purchase starts to feel risky because there is no space to waste. Yet small apartments also offer a unique chance to design with intention. Each choice matters more, and every square inch can serve a purpose when planned well.
Continue reading Small Apartment, Big Potential: Clever Ideas to Maximize Every Inch
Are you considering renting out your property? Whether you’re looking to generate some extra income or simply want to free up some space in your home, there are a few things you should keep in mind. Here are 6 important things to know when renting your property.
Continue reading 6 Things Important To Know When Renting Your Property
Updated on June 9, 2017 at 4:54 PMPosted on June 9, 2017 at 10:07 AM
BY JEFF GOLDMAN
NJ Advance Media for NJ.com
As expensive as it is to live in New Jersey, the cost to rent an apartment here isn’t close to being the priciest in the nation.
Renters in the Garden State — where the fair-market rate for a two-bedroom apartment is $1,420 per month — pay the seventh most in the country, according to a new report from the National Low Income Housing Coalition.
Hawaii, Washington D.C. and California are the most expensive. Those three are followed by Maryland, New York and Massachusetts.
So while renting in New Jersey is cheaper than a handful of spots, it still requires more money than most make.
In a state where the minimum wage is $8.44 an hour and the average person makes $17.86 per hour, a New Jersey worker needs to be paid $27.31 an hour to reasonably afford a two-bedroom apartment. The report defines “afford” as spending no more than 30 percent of your gross income on rent.
That translates to an annual salary of $56,810 per year. To live in a one-bedroom apartment, you need to make $46,619 per year on average.
