The $820 Roommate Savings in DC
Earlier this month, UrbanTurf reported on a study that shows that married couples in the DC area tend to take on roommates to help with housing costs. Now, we have a better idea of the housing cost savings that come with having a roommate.
A new HotPads analysis shows that renters in the region who opt to have a roommate rather than rent a one-bedroom save $820 a month. This estimate assumes a median one-bedroom rent of $1,800 per month and a median bedroom rent of $980 per month.
story continues below
loading...story continues above
In general, the more expensive housing is in a metro area, the more one saves by having a roommate. In more expensive markets like San Francisco and Los Angeles, renters with roommates can save approximately $1,000 a month with a roommate. Nationwide, that savings is $515 a month, as the median one-bedroom rents for $1,320 and the median rent for a room is $805. Renters are increasingly opting for shared living arrangements, with 30 percent living with roommates in 2017 compared to 24 percent of renters in 2007.
Median rents for rooms were calculated based on HotPads listings over the past year, while median rents for a room were calculated using HotPads listings while weighting the data based on Census Data on the number of renter households in a given metro area.
This article originally published at https://dc.urbanturf.com/articles/blog/the-820-roommate-savings-in-dc/15035.
Most Popular... This Week • Last 30 Days • Ever
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
When it comes to financing a home purchase, a 30-year mortgage is one of the most com... read »
Pocket listings are growing in popularity in the low-inventory market in the DC regio... read »
Plans for the development at a prominent DC intersection began nearly eight years ago... read »
The eight-bedroom, 35,000 square-foot home in McLean originally hit the market in 202... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro