Downtown Los Angeles.
TheCrimsonRibbon | Getty Pictures
5 U.S. metro areas with highest month-to-month rents
These U.S. metropolitan actual property markets had the best median single-family month-to-month rents in the course of the second quarter of 2023:
- Los Angeles; Lengthy Seashore, California; Anaheim, California: $4,984
- San Diego; Carlsbad, California: $4,862
- Naples, Florida; Immokalee, Florida; Marco Island, Florida: $4,821
- Bridgeport, Connecticut; Stamford, Connecticut; Norwalk, Connecticut: $4,750
- San Jose, California; Sunnyvale, California; Santa Clara, California: $4,629
5 U.S. metro areas with lowest month-to-month rents
These U.S. metropolitan actual property markets had the most affordable median single-family month-to-month rents in the course of the second quarter of 2023:
- Little Rock, Arkansas; North Little Rock, Arkansas; Conway, Arkansas: $1,267
- Montgomery, Alabama: $1,394
- Birmingham, Alabama; Hoover, Alabama: $1,441
- Louisville, Kentucky; Jefferson County, Kentucky and Indiana: $1,492
- Cleveland, Ohio; Elyria, Ohio: $1,506
Watch out for the ‘hidden’ prices of shifting
Some 40% of Individuals are eyeing a transfer in some unspecified time in the future in 2023, in response to a latest survey from shifting web site HireAHelper, and monetary pressures are among the many prime causes for relocating.
Nonetheless, monetary specialists warn customers about a few of the surprising bills.
“In all probability essentially the most missed hidden value is if you find yourself in search of the following job,” mentioned licensed monetary planner Michael Hansen, co-founder and managing accomplice of Frontier Wealth Methods in Walnut Creek, California.
What you would possibly save in {dollars}, you could lose in connection, collaboration and group.
Eric Roberge
Founding father of Past Your Hammock
It could be interesting to maneuver to a less expensive state to work remotely, however telecommuting is probably not attainable on your subsequent function, he mentioned. Earlier than shifting, you must think about your new metropolis’s job market and attainable in-person job alternatives.
“What you would possibly save in {dollars}, you could lose in connection, collaboration and group,” mentioned CFP Eric Roberge, who just lately determined to maneuver again to Boston after residing in a lower-cost space.
“Though you possibly can’t essentially quantify that and put it in a spreadsheet the identical means you possibly can a funds with a hire or mortgage cost, being along with your folks is completely price one thing,” mentioned Roberge, founder of economic planning agency Past Your Hammock.
