Real Estate

How Much Will an Extra Bedroom Cost You in Rent?

It’s turn into more and more clear over the previous yr that distant work will not be going to fade away when the pandemic does. A survey of 20,000 renters performed by RentCafé this Might discovered {that a} third of respondents had been working from dwelling and anticipated to proceed, both absolutely or partially.

Amongst respondents anticipating to proceed distant work, 75 p.c mentioned they didn’t have a separate room to work from, as a substitute making use of bedrooms, dwelling rooms, kitchens and even closets. A 3rd mentioned they had been seeking to improve to a spot with an additional room.

However how a lot will that price? Among the many 100 largest U.S. cities, the extra hire wanted for one more room ranged from 11 p.c (or $131) in Stockton, Calif., to a whopping 43 p.c (or $1,532) in Manhattan. (To stop skewing the info in New York Metropolis, the place rents fluctuate broadly, every borough was thought-about independently.) The nationwide common enhance was 24 p.c, regardless of the dimensions of the present condo.

One word of encouragement to these involved in regards to the additional price of a rental with extra rooms: The cash saved on commuting when working from dwelling, it was discovered, might cowl a lot of the price of sizing up. (On common, $417 was spent on commuting, whereas an additional room elevated prices by $337.)

This week’s chart, primarily based on the RentCafé knowledge, exhibits which of the biggest 100 U.S. cities had the smallest and biggest share will increase in hire when sizing as much as an place with an extra bed room.

Show More

Related Articles

Back to top button