Hipsters in the Midwest need a place to live, too

[MillCreek]

http://www.bloomberg.com/news/articles/2015-07-16/micro-apartments-are-coming-to-the-midwest

And I thought this was mainly a Seattle thing. Des Moines and Kalamazoo?

[RevDisk]

$850 for 450 sqr ft sounds a bit high, but I'm not familiar with the local renting costs.

Sounds good for folks who work in a city, but have a home outside a city. Stay during the week, go home Friday through Monday morning. I'd do the same thing for a gig in Philly, Baltimore, DC or NYC.

[Headless Thompson Gunner]

 

$850/month?!  That's a mortgage payment on a full sized house, complete with taxes and insurance.  People are spending that kind of money to rent a shoebox?  In Des Moines?

Not everyone loves it. The ULI study collected completed surveys from 110 micro-apartment renters, finding that they were less likely than traditional renters to be satisfied with the value they got for their money.

Ya think?

[charby]

So I live 35 miles from downtown Des Moines, IA.

Downtown has gone through a major revitalization in the last decade, it has become a popular place for younger folks to live and work. The whole downtown is walk and bike friendly, has some killer restaurants and entertainment venues. Hell I find my self down there several times a year for fun. There are a lot of employers of young people in downtown, financial and insurance businesses. Also is the center of the state government. Living downtown means you don't have to drive anywhere to get around downtown.

Where I live (Ames, IA) apartments rent for about $450 a bedroom for multi bedroom and single bedrooms are $500-800 a month depending upon location to the university and age of the building.

[charby]

$850/month?!  That's a mortgage payment on a full sized house, complete with taxes and insurance.  People are spending that kind of money to rent a shoebox?  In Des Moines?
Ya think?

$850 a month in Des Moines gets you a neighborhood where your *expletive deleted*it gets stolen or a house in a better neighborhood that needs $60-100k in upgrades/repairs, or gets flooded every few years.

[MechAg94]

I lived in an efficiency apartment like that years ago when I was interning in Houston.  It wasn't too bad, but the small size gets to you after a while.  You HAVE to get outside a good bit.  

[roo_ster]

Before we were married and started shacking up together, my wife lived in a hipster/affluent college student apartment block built to appeal to this sort.

Twelve years ago she paid $750/mo for 450sqft and parking garage parking.

$850 for 450 sqr ft sounds a bit high, but I'm not familiar with the local renting costs.

Sounds good for folks who work in a city, but have a home outside a city. Stay during the week, go home Friday through Monday morning. I'd do the same thing for a gig in Philly, Baltimore, DC or NYC.

Screw that noise.  Full sized pickup with a camper shell, 12v deep cycle battery, and solar charger (for fan in summer, heater in winter).  Personal hygiene at work gym or off-site gym.

[Headless Thompson Gunner]

$850 a month in Des Moines gets you a neighborhood where your *expletive deleted*it gets stolen or a house in a better neighborhood that needs $60-100k in upgrades/repairs, or gets flooded every few years.

You can't get a decent house in Des Moines for $150 or $200k?

[MechAg94]

Screw that noise.  Full sized pickup with a camper shell, 12v deep cycle battery, and solar charger (for fan in summer, heater in winter).  Personal hygiene at work gym or off-site gym.

Must be one of those places that has no summer.

[charby]

You can't get a decent house in Des Moines for $150 or $200k?

Yes, but with property taxes and insurance you are closer to $1000 monthly payment.

That is with 20% down payment.

$150k usually means the house needs work or you are in a townhouse/condo, or you are going to commute a long ways.

I've been looking at houses in Des Moines because I may work there next. If I end up working downtown, I'm going to trying to find a residence within a 30 minute bike ride in.

[charby]

Must be one of those places that has no summer.

No kidding, you'd roast in the sweat box for 3-4 months out the year here, fan or no fan. Need AC or you're a well done roast beef.

Plus all the heat from the concrete around you. No thank you.

[Headless Thompson Gunner]

Yes, but with property taxes and insurance you are closer to $1000 monthly payment.

That is with 20% down payment.

$150k usually means the house needs work or you are in a townhouse/condo, or you are going to commute a long ways.

I've been looking at houses in Des Moines because I may work there next. If I end up working downtown, I'm going to trying to find a residence within a 30 minute bike ride in.

How bad are your property taxes out that way?

Some quick Googling says that median house prices are something like $110.  So even at "only" $150 you could afford to be choosy.

[charby]

How bad are your property taxes out that way?

Some quick Googling says that median house prices are something like $110.  So even at "only" $150 you could afford to be choosy.

...because there are a lot of sub 75k housing in parts of town you don't want to live for various reasons, or the house needs a lot of work, a lot of work.

Property taxes vary depending upon the school district/suburb, but usually a $150k house is going to be $3500 in annual property taxes.

[RevDisk]

For $300-500, it'd be a good deal. At $850 plus, meh... It obviously fills a niche, but I suspect it grows old quick.

[Ben]

Property taxes vary depending upon the school district/suburb, but usually a $150k house is going to be $3500 in annual property taxes.

Holy crap. Do they send you a jar of Vaseline with your tax statement?

[Brad Johnson]

Holy crap. Do they send you a jar of Vaseline with your tax statement?

About average for states that derive income from property rather than income taxes.

Brad

[Headless Thompson Gunner]

...because there are a lot of sub 75k housing in parts of town you don't want to live for various reasons, or the house needs a lot of work, a lot of work.

Property taxes vary depending upon the school district/suburb, but usually a $150k house is going to be $3500 in annual property taxes.

So, basically, just don't live in Des Moines.  Got it.

[RoadKingLarry]

Before we were married and started shacking up together, my wife lived in a hipster/affluent college student apartment block built to appeal to this sort.

Twelve years ago she paid $750/mo for 450sqft and parking garage parking.

Screw that noise.  Full sized pickup with a camper shell, 12v deep cycle battery, and solar charger (for fan in summer, heater in winter).  Personal hygiene at work gym or off-site gym.

For a good bit less than $850 a month you can get a decent travel trailer with AC.

[RoadKingLarry]

So, basically, just don't live in Des Moines.  Got it.

I've got family in Des Moines. I need to get up there and visit my aunt, she's the last of brood, one of my cousins owns a big steakhouse just outside of Des Moines. I just can't remember the name of the town or the restaurant.

[MillCreek]

Ms. MillCreek 2.0 was born and raised in Urbandale, Iowa.  I went back there a couple of times when we were arranging a skilled nursing facility for her mother.  I liked Des Moines, and I was able to do the RAGBRAI bicycle ride one year, which convinced me that Iowa is a great place to ride bicycles.  Not nearly the hills that we have here in Western Washington.  I thought that the housing prices in the Des Moines region were dirt, dirt cheap compared to Seattle.

[charby]

I've got family in Des Moines. I need to get up there and visit my aunt, she's the last of brood, one of my cousins owns a big steakhouse just outside of Des Moines. I just can't remember the name of the town or the restaurant.

Rube's?

[charby]

  I thought that the housing prices in the Des Moines region were dirt, dirt cheap compared to Seattle.

They are but you also don't make the same salaries.

[brimic]

$850/month?!  That's a mortgage payment on a full sized house, complete with taxes and insurance.  People are spending that kind of money to rent a shoebox?  In Des Moines?
Ya think?

 

$850/month just about covers my mortgage/taxes/ins on a small ranch house with an attached 2 car garage and a barn on an acre and a half of land 20 minutes away from where I work. Of course there aren't any hipsters for miles, not that that is a downside...
It'd be enough to buy a block of houses in the inner city, but nowhere near enough to cover the cost of an apartment.

[Firethorn]

For a good bit less than $850 a month you can get a decent travel trailer with AC.

Isn't that even less square footage?  

I know it's alien to most of us here, but here's the way I look at it:
1.  Remember, different strokes for different folks.
2.  Jettison the car.  Between student IDs providing free bus rides, work benefits, walking, biking, etc...  Not having one will save you ~$300/month.  Not really an option if you live out where affordable houses in safe neighborhoods are
3.  The apartment is small, but apparently the complex provides a lot of services.  It's only an elevator ride to the gym, for example.  
4.  This is the internet generation - and Amazon delivers everything they need.  Rather than having a large TV, they watch things on a laptop or tablet.  Less need to *store* stuff.  Hell, move me somewhere where I don't need my truck, get rid of everything I use once a blue moon, and I could almost fit into one of these.
5.  Time is money.  You can justify a half hour walk or bike ride as exercise.  On the other hand, if you're an individual focused on going to things, being downtown makes reaching stuff quick and easy.

[Fitz]

Between cost of living, taxes, traffic, and other concerns, we decided not to move to redmond, despite the "redmond" bonus that gets added to the base pay.

We'd make more money, but have less available. For example, if you want something under 300k and work in Redmond, you gotta move an hour away from your work. A condo right near microsoft is in the high 400s


Here, I can find nice houses in the low 200s that are about 20-25 min away. I can get a townhouse in the mid 300s that is 2.5 miles from work (though i won't)

300-350k up to an hour away? Big house. Real nice.