Overlooked Expenses Can Cost Renters an Extra $3,400 a Year
Zillow Group, Inc. - Class C Capital Stock (Z)
Last zillow group, inc. - class c capital stock earnings: 8/6 04:06 pm
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Source: PR Newswire
SAN FRANCISCO, March 21, 2019 /PRNewswire/ -- Beyond the listed rent, U.S. renters can spend $3,420 a year on costs associated with moving into and living in a rental, according to a new HotPads® analysisi.Nationally, the median rent is $1,530 per month. However, renters often pay more than that to move into and live in their home – security deposits, application fees, pet deposits, pet rent and parking can all require additional payment. In total, a typical renterii can spend $3,420 on these costs in a year, essentially increasing their housing expenses by $285 a month.The total added costs are highest in San Francisco, where renters that move can spend $7,370 a year in addition to their rent. In New York, Los Angeles and Washington, D.C., renters can spend more than $5,000 a year on these costs.Rental affordability remains a challenge as prices rise, and these extra costs can impact renters' ability to save. According to the Zillow Group Consumer Housing Trends Report, only 52 perce
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