What is the calculation for montly rental costs?

[NorthCountyMan]

I’ve been renting a house in Encinitas for the past year. The house, maybe, is worth 750 grand in today’s market…maybe a little less.

I’m paying #3,850 a month while I wait for the market to drop so we can move into a 1.1+ house in the next few months.

Am I paying too much? Getting a bargain? Should I renegotiate my lease?

[drunkle]

dunno relative to the area, but… almost 4k/month in rent seems absurd all around, especially if you’re “waiting for prices to come down to buy”.

on a related note, doing a search on craigslist for rentals under 1k brings up alot more listings than it used to, even a couple months ago. i think rents are coming down now and fast.

[drunkle]

dunno relative to the area, but… almost 4k/month in rent seems absurd all around, especially if you’re “waiting for prices to come down to buy”.

on a related note, doing a search on craigslist for rentals under 1k brings up alot more listings than it used to, even a couple months ago. i think rents are coming down now and fast.

[no_such_reality]

It depends on what you’re renting and where exactly it is at.

Two checks are craigslist. For a four bedrooms, high 2000s look doable. There are only 14 listed, but only two are higher than your rent, one wants $12,000/month for their “executive” home and the other wants $5750 (can you say please pay my mortgage?).

If you’re in a four or five bedroom and it isn’t spectacular, you’re probably paying too much. If you’re in a 3 bedroom, you are paying too much. Probably $1500/month too much.

The second is rentometer.com. They come in high IMHO. They use advertised prices.

Here’s the rent meter for Encinitas with 4 bedrooms selected.
Rentometer 4bd

For 3 bedrooms: link

[no_such_reality]

It depends on what you’re renting and where exactly it is at.

Two checks are craigslist. For a four bedrooms, high 2000s look doable. There are only 14 listed, but only two are higher than your rent, one wants $12,000/month for their “executive” home and the other wants $5750 (can you say please pay my mortgage?).

If you’re in a four or five bedroom and it isn’t spectacular, you’re probably paying too much. If you’re in a 3 bedroom, you are paying too much. Probably $1500/month too much.

The second is rentometer.com. They come in high IMHO. They use advertised prices.

Here’s the rent meter for Encinitas with 4 bedrooms selected.
Rentometer 4bd

For 3 bedrooms: link

[sdappraiser]

Your craigslist search is most likely a seasonal event. College is out this month and the 1 bedroom renters are vacating for the summer, happens every year. I see no indication that rents are coming down (fast) in any of the markets I’ve analyzed lately.

[sdappraiser]

Your craigslist search is most likely a seasonal event. College is out this month and the 1 bedroom renters are vacating for the summer, happens every year. I see no indication that rents are coming down (fast) in any of the markets I’ve analyzed lately.

[sdcellar]

Yeah, sorry, you probably are paying too much. From the sounds of it, at least 1000 bucks a month.

Location/property does matter, but given that estimated sale price is a good proxy for that, it shouldn’t rent for anything near that.

[sdcellar]

Yeah, sorry, you probably are paying too much. From the sounds of it, at least 1000 bucks a month.

Location/property does matter, but given that estimated sale price is a good proxy for that, it shouldn’t rent for anything near that.

[drunkle]

sda:

dont tread on my dreams.

[drunkle]

sda:

dont tread on my dreams.

[patb]

The poster asked an odd question:

“What is the calculation for monthly rental costs”

I suspect what he meant was “What is the calculation for monthly rental PRICE”

Price is set by the market. Demand sets price. Supply sets price.
At some equilibrium you find equilibrium price.

Price Demand is set by monthly household income, if you spend more
then 33% of gross income on rent, you starve.

now rental costs?

Those are set by Cap investment, interest, Taxes, insurance, and maintenance.

Fgure a 750K house, buy that with a 30 Year 6% mortgage,
okay $42K in interest, say $6K in amortization, say $21K in taxes,
and then $3K in insurance, so toss another $5K in maintenance in

so figure it’s running about $7K in monthly ops costs.
you arepaying $4K/month, you should jam the owner
down some more.
He’s already subsidizomg you, get more

[patb]

The poster asked an odd question:

“What is the calculation for monthly rental costs”

I suspect what he meant was “What is the calculation for monthly rental PRICE”

Price is set by the market. Demand sets price. Supply sets price.
At some equilibrium you find equilibrium price.

Price Demand is set by monthly household income, if you spend more
then 33% of gross income on rent, you starve.

now rental costs?

Those are set by Cap investment, interest, Taxes, insurance, and maintenance.

Fgure a 750K house, buy that with a 30 Year 6% mortgage,
okay $42K in interest, say $6K in amortization, say $21K in taxes,
and then $3K in insurance, so toss another $5K in maintenance in

so figure it’s running about $7K in monthly ops costs.
you arepaying $4K/month, you should jam the owner
down some more.
He’s already subsidizomg you, get more

[sdrealtor]

Unless it’s fully furnished furnished you are paying about $1,000 too much.

[sdrealtor]

Unless it’s fully furnished furnished you are paying about $1,000 too much.

[Author]

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