Rent going up?

[housestaffhustle]

Just out of curiosity…with inflation/rising costs and our reliably low resident salaries, is anyone else finding an unexpected surprise with their lease renewal letters? My rent went up ~15%. Not going to be able to afford that.

Wondering it it’s different for people in other parts of the country. If you’re comfortable doing so list your…
A) standard resident salary
B) region of the country
C) rent hike if any
D) overall impact/or lack of impact inflation has had on your life so far

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[J ROD]

inflations affects almost every aspect of economy as it ends with end user. Nothing is for free and now we are paying literally.

 

[housestaffhustle]

inflations affects almost every aspect of economy as it ends with end user. Nothing is for free and now we are paying literally.

I’m not saying I’m surprised. Of course inflation affects everyone. Just curious how things are in different parts of the country. I also think trainees are disproportionately affected and it’s not really talked about.

 

[J ROD]

Rent is up homes prices are up food is up gas is up list those on and on. Of course will affect those with less disposable income most harshly. Less cushion as dollar buys less. Imagine that single mother working two jobs to try and make the ends meet and now feels utterly hopeless

 

[housestaffhustle]

Rent is up homes prices are up food is up gas is up list those on and on. Of course will affect those with less disposable income most harshly. Less cushion as dollar buys less. Imagine that single mother working two jobs to try and make the ends meet and now feels utterly hopeless

I’m not saying there aren’t others less fortunate than us. I see and care for those less fortunate every day. In general we are of course very fortunate to be in the position we’re in. I don’t mean to be disrespectful with my question in the least. I was hoping to start a conversation about trainees advocating for ourselves. It’s my impression that this site is dedicated to medical trainees/professionals and that such a topic would be welcome.

Perhaps it wasn’t your intention but your responses are a touch condescending, which I don’t appreciate. Medical training is infantilizing enough at every stage that we should at least treat each other with courtesy.

I can understand if you perhaps did not appreciate the spirit of the discussion or interpreted my comments the wrong way. Again, it’s never my intention to overlook those less fortunate. I’ve always felt that being in medicine gives us a unique lens to see the world. Few see what we do. Even just having our own health is so lucky. Anyway this was my first try at a post. Before this I was just replying to threads. Didn’t mean for it to come off poorly.

 

[GoSpursGo]

We're going to try this thread one more time. I've cleaned up a few of the posts that were unhelpful. Just as a reminder to all, let's please be kind and respectful to each other, especially new members. It is fine to let someone know that you disagree or even that you find their question naive. You just don't have to be mean about it.

 

[guytakingboards]

I'm an attending and inflation has made buying a house in the areas of town i want to live in all but impossible. I live in one of the fast growing cities in the country. As for apartment rent, my renewal offers were 25% over what i paid last year.

 

[wholeheartedly]

Not a resident, but only slightly lower on the income scale. I recently applied to public health fellowships and my location choices were pretty much dictated by where I could afford to live on my stipend. I got into one in the midwest and rent seems to be up about 16% at my current place from what I paid only 4 months ago. This seems to be a lower cost of living city compared to similar size cities nationally. Fortunately my lease doesn’t renew until next Dec. Things are a little tight for me, but also have a lot of vet bills for a senior dog.

There‘s also a thread in the medical student forum discussing resident wages and if some people are scraping by that sort of touches on this topic.

 

[Apollyon]

I just wanted to use this image!

 

[housestaffhustle]

Not a resident, but only slightly lower on the income scale. I recently applied to public health fellowships and my location choices were pretty much dictated by where I could afford to live on my stipend. I got into one in the midwest and rent seems to be up about 16% at my current place from what I paid only 4 months ago. This seems to be a lower cost of living city compared to similar size cities nationally. Fortunately my lease doesn’t renew until next Dec. Things are a little tight for me, but also have a lot of vet bills for a senior dog.

There‘s also a thread in the medical student forum discussing resident wages and if some people are scraping by that sort of touches on this topic.

Aw poor doggo, hope he/she's doing ok!

 

[NITRAS]

I'm an attending and inflation has made buying a house in the areas of town i want to live in all but impossible. I live in one of the fast growing cities in the country. As for apartment rent, my renewal offers were 25% over what i paid last year.

I heard on a podcast that housing prices in general rose something like 30% in 2021 and are protected to be like 10% in 2022. It is getting better, but the numbers are crazy. I could probably sell my house for almost double what I bought it for 5 years ago. I live an hour north of Austin (not exactly a highly desirable area). I love my house, with a big yard. I had kinda figured we would upgrade at some point due to only a 2 car garage and I would like another room for an office for me. . . . . .but I think my net worth will have to rise another decimal place.

 

[sunshinefl]

My apartment lease renewal went up 17%. My apartment rent was already equivalent to an entire 2 week take home paycheck. Now it will be more. This is consistent with the rest of my co-residents. Our city is infamous for high COL to wages. In residency salaries compared to nationwide we’re on the low end too. ~$53K this year. Barely getting by as is. Not sure how it’s going to go with rent hike, continued inflation pressure, and once student loan payments resume soon and I have those full COA loans to pay.

 

[dial1010usa]

As the real estate is getting slow down where I live and I'm hoping rent will be stable or going down. Again it all depends on what part of the state do you live in. In CA minimum starting salary for resident is $62,400 but you can't afford that in bay area or San Francisco areas. I'm glad I'm not there. I will be starting residency this month and my rent will be at least 2 weeks of taking home pay check. I guess we all are in same boat. Hope for the best and hope this real estate will slow down and that will affect rental market too.

 

[cincincyreds]

Just out of curiosity…with inflation/rising costs and our reliably low resident salaries, is anyone else finding an unexpected surprise with their lease renewal letters? My rent went up ~15%. Not going to be able to afford that.

Wondering it it’s different for people in other parts of the country. If you’re comfortable doing so list your…
A) standard resident salary
B) region of the country
C) rent hike if any
D) overall impact/or lack of impact inflation has had on your life so far

Check out state laws as there may be a limit to percent increase in rent. Or maybe get a roommate.