America may have a massive housing problem, but you still need an affordable place to live.
The situation wasnt great before the pandemic, but since, rents have skyrocketed.
Realtor.com isreportinga -1.0% year-over-year decline in rent prices for June of 2023.
Its only the second decline since 2020, so it is exciting news.
But its too small of a number to fix the math for the average American household.
That same report listed the median rent as $1,745 a month.
With median numbers, its important to remember that 50% of Americans make even less.
So what are your options when you better find a place that doesnt break your budget?
Were here with tips to help you snag a place at a lower price.
No Interest Til Almost 2027?
The hope for a better tomorrow is always what keeps people going, Boyte said.
And you let that accomplishment keep you going.
Why Public Housing Doesnt Always Help
First and foremost, lets talk about public housing.
Why not turn to public assistance programs?
Did you know?
Lets say you could get a voucher, explains Boyte.
Its just not enough for us.
They may even be willing tonegotiate the monthly renttotal or income requirements.
Finding a Mom & Pop landlord is harder than it used to be, though.
Since the 2008 Recession, corporate landlords have been scooping up available properties at alarming rates.
Or at least someone whos willing to work with you.
For example, starting your lease in February is likely to be cheaper than starting your lease in June.
Especially with Mom & Pop landlords.
For example, you might see the first months rent waived, or receive credit towards your security deposit.
Find Roommates
Another way to lower the barrier on high rents is getting roommates.
That way theres less potential for legal drama further down the road.
If you dont know the roommate, youll definitely want that written agreement.
Plus, youll want to take adequate steps tovet potential roommatesbefore moving in.
Move In With Family
A common solution to todays rental market is moving in with family.
This can be an especially smart moveafter an eviction.
Not everyone has family they can live with.
If youre in that boat and use public programming, the next couple of tips are for you.
you’re free to find your chapterhere.
Many of these programs require you to keep your income below a certain level.
Some of them even require you to keep your savings or assets below a certain level.
Often this level is so low that youre living far below the poverty line.
She is a regular contributor to The Penny Hoarder.
The Penny Hoarder staff also contributed to this post.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
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