who in raleigh is planning to pay this rent?

http://www.stmaryssquareapts.com/p/apartments/floor_plans_5377/raleigh-nc-27605/st-marys-square-5377

5/16/2013 2:20:00 PM

nope!

5/16/2013 2:23:31 PM

holy crap that's way overpriced

5/16/2013 2:26:05 PM

wow. I thought $1.50/sf was high for apartments in Raleigh (from what I remember)... but over $2/sf?? I thought most decent to good places were around $1/sf.

5/16/2013 2:30:08 PM

Doesn't the Hue do something similar? $1k for some piss ant studio?

I'd probably pay like that to live on the western side of downtown, but I can't go below 900 square feet :/

A new complex opened next to Trinity Park (I pay $825 for their nice 2 bedroom) that's doing $1200 for a 2 bed. They don't look special at all.. How long does it usually take new apartments to drop their prices?

5/16/2013 3:07:56 PM

only $1330 for a studio? sounds like a steal!

5/16/2013 3:09:27 PM

What is this NYC? I paid half of that for a really nice apt in Cary.

5/16/2013 3:24:12 PM

LOL you might as well move in with the hipsters in Brooklyn.

5/16/2013 3:25:27 PM

People on here crack me the fuck up.

These places will only charge what people will pay. The Hue is near on 100% occupied with those "prices" that nobody on here would pay.

Should these builders/owners/management companies offer some sort of subsidy, or artificially keep monthly rates down to avoid shocking the conscience of internet message board posters?

They are in the business to make $$$ and the minute they fail to do so, I am sure the prices will steadily come down.

5/16/2013 4:23:44 PM

Welcome to 2013

5/16/2013 10:47:01 PM

heh...i have a friend who just moved to boston. 800 sq ft apartment....$3500/month.


she thinks it's great. i told her she's retarded. especially because she'll be making less than me and my mortgage is less than 1/2 that for 3000 sqft....

[Edited on May 16, 2013 at 11:04 PM. Reason : .]

5/16/2013 11:02:14 PM

I'm assuming she rents and lives in a building with amenities if she is paying that in Boston. And I'm going to assume you live in a house with vinyl siding a decent drive to the grocery store.

5/16/2013 11:55:37 PM

hahaha

5/17/2013 8:49:52 AM

Clearly they aren't marketing these to college students. And yes, people will pay to live there just for the status of being able to afford to live there.

There are 1000 sq ft. condos in downtown Greensboro that sell for triple the value of my house, and I have 2000 sq ft. and 7 acres.

And yes, I have a 10 minute drive to the nearest grocery store.

5/17/2013 9:25:33 AM

For $1330 rent, you should have at least an after-tax income of about $53k / year. This puts you needed salary at around $66k / year.

5/17/2013 9:25:40 AM

People pay for convience the same as others pay for space.

However I dont know what the prices are like at other new buildings downtown.

5/17/2013 9:41:40 AM

^ very true. I, for one, would never buy a condo. I like having a house, a yard, etc etc.

but plenty of people are the exact opposite. they prefer the convenience of not having to take care of the exterior of their home.

5/17/2013 9:54:14 AM

If you can get to the grocery store in 10 minutes, that's just as fast as they can from this place on Hillsborough St.

5/17/2013 9:58:11 AM

you can get a nice one bedroom at the Dawson for the same price. I just don't get it.

fuck a studio apartment, this is Raleigh, not Soho

5/17/2013 10:05:25 AM

but you can't walk to the university from the Dawson

(well you could, but it would be a long walk or involve buses)

5/17/2013 10:14:51 AM

Yeah always wondered why a Trader Joes didn't set up shop somewhere close to downtown.

Every Trader Joe's (or WF) in the area is always crowded.. they could probably have bumped up prices to afford a private bus that just ferries downtown folk

5/17/2013 11:02:47 AM

Yeah that seems pretty insane to me. Sure maybe I'll pay $2000-2500 for a tiny studio in SoHo...or anywhere nice in Manhattan. But Raleigh ain't Manhattan. I can only guess that people that pay this much don't visit real cities much?

But if they fill'em up then I guess the market can take it. Doesn't mean its a smart financial move for the people that'll live there. But I'd be a hypocrite if I said every financial move I made was smart

[Edited on May 17, 2013 at 12:03 PM. Reason : k]

5/17/2013 12:02:27 PM

Since when is "the market will support them" a reason *not* to make fun of stupid people?

5/17/2013 12:11:12 PM

Confession - I thought this thread was about St. Mary's Apartments (http://www.stmarysapts.com)

That's still way too costly though.

5/17/2013 4:31:22 PM

Damn, at least partition off the bedroom area like West Villiage in Durham did with their "lofts"

5/17/2013 7:17:44 PM

what they will probably try to do is say you'll get one month free but pay the high rent cost the rest of the time. sometimes people are foolish to do that instead of offering less rent per month altogether.

i've even seen ads on craigslist for idiots who want to pay this rent and get a roommate.

5/27/2013 11:10:48 AM

Quote :

"For $1330 rent, you should have at least an after-tax income of about $53k / year. This puts you needed salary at around $66k / year."

I make way more than that and I'd still never pay anywhere near 1330 a month for rent.

5/27/2013 9:01:49 PM

More what I'd be used to. I've heard spend up to 1/3 of income on rent. But I spend 850ish now and thinking about jumping to 1300 makes me visualize buying a new console every month and throwing it in a giant bonfire of all the other money I waste :p

5/28/2013 10:47:15 AM

I wouldn't live in this place given the much more affordable options in the same area, but I certainly would (and currently do) pay a massive premium to live in a walkable urban area. It's extremely valuable to me and at this point in my life I have no intention of ever living anywhere that doesn't fit that mold.

5/28/2013 10:59:43 AM

It's official, Raleigh is trying to be Charlotte Jr.

Calling the North Hills area "Midtown Raleigh" really rubs me the wrong way, like how downtown Charlotte is "uptown"

5/28/2013 11:46:58 AM

its midway between downtown and North Raleigh, it is midtown

5/28/2013 11:50:01 AM

i'm going there: that's more than i pay for my studio in berkeley.

5/28/2013 1:19:04 PM