Are Bozeman Rental Prices Near The Top In The United States?
Over the last few years, there's been a whole lot of talk about the high prices of Bozeman rentals.
As the demand to live here has increased, property owners and landlords have taken full advantage of that demand. However, as more apartment complexes are completed, it seems as though the demand isn't as high as it was just a few months ago.
In fact, some properties are finding themselves with several empty units. So does that mean that those of us renting in Bozeman can expect a decrease in what we're paying? One can only hope, but where do we rank when it comes to cities that are traditionally expensive to live in?
Let's take a look at some numbers.
The average price for a two-bedroom apartment in Bozeman is $2,150 a month, according to Zumper. That is actually more than a two-bedroom in New York City, where the average rent for such is $2,117 a month. Chicago will cost you about $2,200 a month, and Los Angeles will run you right around $2,800 a month on average.
Next, let's take a look at the average salaries in each location.
Here in Bozeman, the median household income is $59k per year. In New York City, the median household income is $67k. In Chicago, it's $62k per year. Finally, Los Angeles rings in around $65k per year.
Oh, and just for the heck of it, the average rent for a two-bedroom apartment in the United States is $1,295 per month, while the median household income is $70k per year.
Not only are we paying more than the national average for rent but we're making less than the national yearly income average. It makes you scratch your head a little, huh?
So to answer the question, yes. Bozeman rental prices are near the top in the United States.
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