HOA Downtown is $500/mo or more. Combine that with property taxes and you can easily hit $1200/month before even touching the interest and principal payment.
I think that once Downtown gets built-up, the lower end apartments (let’s call them what they are) will sell for about rental value, or below original builder prices.
There are so many rentals Downtown now that it’s stupid to buy. Unlike single family homes where school district and other features call for a premium, you can easily rent an apartment Downtown that is right next door to one that is for sale.
For example, you may not be able to rent a 3000sf SFR in a certain neighborhood with a certain school district. But you can rent an apartment in virtually any building Downtown.
