If you had $1, 500 rent to blow every month in one of America’s major cities, how far would you get? RENTCafé, a website for apartment seekers, found out by analyzing apartment size and rental data across the nation’s 30 most populous cities. The following infographic provides a breakdown of the top-10 U.S. cities offering the very worst bang for your buck in terms of apartment size.
New York is notorious for its high rents and it comes as no surprise that the Big Apple offers the least space for $1, 500. Paying that amount every month will land you a mere 271 square feet of living space on average. San Francisco and Boston are slightly better off with 342 and 399 square feet respectively.
If you want to have a nice spacious apartment in one of America’s biggest cities, Philadelphia is a good option. $1, 500 goes much further there, getting you a living space of about 820 square feet. RENTCafé reported that out of the 30 cities analyzed, Memphis offers the best value for renters with $1, 500 getting you an impressive 1, 948 square feet.
Statistics and facts on residential housing in the U.S.
Housing markets in the United States are beginning to show strong signs of recovery as home builder confidence continues to rise. Home builders are beginning to feel much more optimistic about the prospects of home sales as the accelerated rate of construction confirms.
The recovery of the market has been slow and painful. The period of dismay and the difficulties experienced by the sector has been the result of the United States housing bubble. This economic bubble affected the U.S. housing market in over half of American states. In the fourth quarter of 2012, the Case-Shiller home price index, which reflect inflation adjusted prices, reported the largest drop in its history. The aftermath of the fall, in the wake of the bursting of the housing bubble, was the primary cause of the 2008 global recession.
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