How to keep CT affordable?

[fivedayrental]

If you are fresh out of school and ready to go off on your own, be forewarned: you'll need luck finding a place to live in Connecticut.

The state is now experiencing an affordable housing crisis of such a proportion that about 20 percent of young adults -- between 20 and 34 years old -- move out of state largely because they can't afford to live here.

The U.S. Census reports that between 1990 and 2000, about 64,610 more people moved out of the state than moved in.

[drc72]

A real estate market crash would probably help in this situation, but that is probably no guarantee either. It also wouldn't be good for the economy as well.

[runawayjim]

http://newstimes.com/news/story.php?id=1019103

One thing that article failed to mention is how expensive it is to rent here as well. In the Danbur area, you're be lucky to fid a 1 bedroom apartment that ents for less than $950 a month. There is subsized public housing to own in the city, but they all dumpy and in not so nice neighborhoods.

[HartfordTycoon]

Hartford is actually very reasonable to downright dirt cheap for pretty much everything that's not brand new, strictly speaking within the city. The suburbs though, their a shocker! The prices are insane for rentals in West Hartford, Bloomfield, Newington, and Manchester in the new communities. There are deals in New Britain, East Hartford, and Windsor for example though and multi family, and classic older apartment buildings aren't so bad anywhere in the metro.

[SOCOM]

I don't find metro Hartford to be all that expensive. Tycoon makes a good point about new rentals versus older apartment buildings. I just moved into a 2 bedroom apartment (built in the 50's) on the West Hartford/Hartford border and the rent is only $1,000. That doesn't include utilities, but it's still much less than I was paying in when I lived in metro NYC.

I think we still have it pretty good up here when compared to the New Haven area, and especially the Stamford/Bridgeport corridor.

[MadVlad]

My old place in New Britain is now going for about $750/mo. It was the second floor of a 2 family. My place in Wallingford was going for $900ish a month in an old Mill Factory that was remade into condos. It was really nice though....

[runawayjim]

My old place in New Britain is now going for about $750/mo. It was the second floor of a 2 family. My place in Wallingford was going for $900ish a month in an old Mill Factory that was remade into condos. It was really nice though....

[JimSawhill]

Hartford is actually very reasonable to downright dirt cheap for pretty much everything that's not brand new, strictly speaking within the city. The suburbs though, their a shocker! The prices are insane for rentals in West Hartford, Bloomfield, Newington, and Manchester in the new communities. There are deals in New Britain, East Hartford, and Windsor for example though and multi family, and classic older apartment buildings aren't so bad anywhere in the metro.

[fivedayrental]

And almost all of the new construction of rentals have been upscale in the Danbury area. There have been 3 Avalon Bay communites built the last 5 or 6 years where the smallest one bedroom starts around $1300 and there's a 'lovely' luxury complex like avalon bay but by a different company that is opening shortly starting at $1420 a month. Who in the right mind would want to pay that much in rent?

Almost all of the recently single family homes start around $500,000 and townhouse/condos around $325,000. Something has to give...

[runawayjim]

And almost all of the new construction of rentals have been upscale in the Danbury area. There have been 3 Avalon Bay communites built the last 5 or 6 years where the smallest one bedroom starts around $1300 and there's a 'lovely' luxury complex like avalon bay but by a different company that is opening shortly starting at $1420 a month. Who in the right mind would want to pay that much in rent?

Almost all of the recently single family homes start around $500,000 and townhouse/condos around $325,000. Something has to give...

[fivedayrental]

real estate prices are expected to drop in the next year or 2. so something may give...

but i agree... $1300 for a small 1br, in danbury of all places is quite a bit. i'm expecting to get a decent 2-3br for $1200-1300 in providence for my next place.