American cities are bonkers. My house is in a podunk town in Ohio (personally love that and want to live in an area like this) and it is valued at $160,000 ($550/month). If you took my exact house and lot and put it in Columbus (a medium sized American city) it would be around a $1,000,000 (~$6,000/month and that’s with 20% down) house. Housing prices are insane and it’s getting to the point, even in small towns, where so many of the homes are being purchased by corporations and made into rental properties. I genuinely believe that within the next 50 years, owning a home will be only for those who have had homes left to them by parents and the rest will ALL be rentals. Like I said, I live in a very tiny town, five thousand people at the most, my neighborhood is all 100+ years old homes (fairly rare in the states), of the houses directly next to me and across the street. ONE of the four houses is owned (2 including me) and the rest are rentals.
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u/Number_1_Kotori_fan Jun 20 '25
On heavily urbanized areas rent is beyond expensive, I pay 1700 for a one bedroom and that's on the low end