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10 WORST CITIES FOR RENTERS!

By
Real Estate Broker/Owner with Independent Real Estate Broker DRE#00972295

10 Worst Cities for Renters: Maybe these renters should make it their goal to own a home.

While, I don’t think everyone should be a homeowner, yeah...that’s right I said it! Imagine, a Realtor saying that but I’m just being honest. Home ownership is a big responsibility and some folks are just not ready take on that kind of responsibility....that's a big word. Being a renter sometimes is better. So, how do you know if the area you live in is better to rent than to own.

My opinion: buy a home that if needed, you could rent it out to cover the debt and all expenses. In the event, that you or your spouse becomes unemployed you could rent it out and move in with a relative until you’re back on your feet. Or you could rent part of the house out to help with the cost, but I don't really like that option.  That just me! I wouldn't want to live with total strangers.

If the rent wouldn’t even cover your mortgage payment, I wouldn’t buy it, but if you have enough savings to cover any shortfall then go ahead and buy it.

If you would like to know how much rents are in your area or the area where you want to buy, here’s a great website: Rentometer.com!  I love this site. Hope you enjoy it as well.

Posted by

Aida Pinto (562) 884-6196
Los Angeles County
Real Estate Broker



The Real Estate Maven : https://www.facebook.com/aRealEstateMaven?ref=hl

 

Short Sale, Probate and standard real estate expert.

Comments(4)

Jon Quist
REALTY EXECUTIVES ARIZONA TERRITORY - Tucson, AZ
Tucson's BUYERS ONLY Realtor since 1996

Well, that's quite a list of cities. I would have never guessed most of them. Good report.

May 17, 2011 07:18 PM
Steven Wright
Home Real Estate - Aurora, CO
CRS - Home Real Estate - 720-989-5283

I love that link you put on here.  I checked out some addresses and there was only one that was a little high for the rent they are asking.  I will definitely use this in the future.  Great tool!!

May 17, 2011 07:23 PM
Aida Pinto
Independent Real Estate Broker - Los Angeles, CA
Real Estate Broker (562) 884-6196

Glad you guys like the links

May 17, 2011 07:34 PM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Rental rates are increasing almost everywhere - there is no NEW inventory and while REO and foreclosures may be reducing some inventory of properties that can be rented, most renters want to STAY renters for the mobility

May 18, 2011 02:07 AM