Rents in Cuenca

CB48

Active member

Member since 23 November 2011

St. Louis

CB48

24 February 2014 03:30:28

CB48

24 February 2014 03:30:28

St. Louis

Just read on Gringo Tree that the rule of thumb for rents in the US is 1% of the property value per month. (ie a$150000 home would rent for $1,500 per month). I don't know where that comes from! It certainly isn't St. Louis. In my building, properties worth $250,000 are renting for $1,500 per month. It's supply and demand. Real estate agents try to get what the market will bear. If Gringos will pay it, that's what it will be!

rsymington

Contributor

Member since 17 May 2013

Cuenca

rsymington

24 February 2014 19:35:50

111

rsymington

24 February 2014 19:35:50

111

Cuenca

CB48 wrote:
Just read on Gringo Tree that the rule of thumb for rents in the US is 1% of the property value per month. (ie a$150000 home would rent for $1,500 per month). I don't know where that comes from! It certainly isn't St. Louis. In my building, properties worth $250,000 are renting for $1,500 per month. It's supply and demand. Real estate agents try to get what the market will bear. If Gringos will pay it, that's what it will be!

I'm with you CB. Just using numbers from Zillow, our house value is $247K, with a suggested rent of $1,500. I believe Zillow numbers. Just being a realist, I sure as heck wouldn't rent my place for $2,470.00 per month, why would anybody else :-)