Average Rental Cost Rises by Over $100/month, from $955 to $1,076
Salisbury – Mayor James Ireton, Jr. announced today that recently-released data from the U.S. Census Bureau further demonstrates the necessity for a rent stabilization program in Salisbury. This new data shows that Salisbury’s renting costs are not only $100 higher than the national median, but are among the highest in comparison to cities its own size.
The U.S. Census Bureau recently released its first 2014 estimates for certain geographic areas. According to this new data, Median Gross Rent in Wicomico County rose by over $100 between 2013 and 2014, from $955per month to $1,076. This means that as of 2014, half of all renters in Wicomico County are paying over$1,076 per month for rent and utilities. *1/3 of Wicomico Count Residents live within the City of Salisbury, and more than half of Wicomico County rental stock is within Salisbury City limits. Median Contract Rent rose from $761 in 2013 to $810 in 2014. By comparison, median gross rent for the entire country rose by only $29 from $905 to $934, well within normal inflationary expectations. Salisbury-specific data for 2014 has not yet been released*, but in 2013, Median Gross Rent in Salisbury was $994/month. (*Salisbury data is expected to be released in early December.)
•Salisbury’s median contract rent ranks 33rd (top 13%), and utility costs among renting households ranks 13th (top 5%). By comparison, Salisbury’s Median Household Income ranks 163rd and Median Value of Owner-Occupied Homes ranks 112th.
•In comparison to 250 cities (POP – 30 to 150K) from across the country, Salisbury’s median gross rent, which includes rent and utilities, ranked 19th, in the top 8% of these cities.
•The city closest to Salisbury in gross rent is Hilton Head, North Carolina, where median home values are over $400,000.
•As of 2014, 53% of renting households in Wicomico County are paying over 30% of their income towards housing costs, up from 47.6% in 2013. Those households which are severely cost burdened, i.e., paying over half their income towards renting costs, rose from 3,600 households (25.6%) to 4,000 households (28.2%).
“All of these numbers further support my recent proposal for a rent stabilization program in Salisbury, as we now know that even less money is left over on the 2nd of the month,” said Mayor Ireton. “When rents in Salisbury are as high as communities with median home values of $200,000, $400,000, and even $600,000, it is unmistakable that a rent stabilization program is necessary. I look forward to presenting this data to the Salisbury City Council at the October 5, 2015 work session at City Hall.”
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27 comments:
But but but the welfare crowd get 75% rent FREE.
Cannon is rolling in the welfare $.
Has anyone noticed the high numbers of 'aliens' in Salisbury?
Is it at all possible that throwing the door open to any and all 'migrants' could put tremendous pressure on the supply of rental housing and drive the rents way up?
Duh.
Next: Let's talk about wages, and how a tidal wave of people who will work for almost nothing can drive wages down. This is especially affecting those who work for minimum wage, like young black folks.. so the Democrats, who say they are the only ones who will 'help' the black community are actually helping to destroy it by welcoming illegals to Maryland.
People need to think about this. They will soon be able to vote for a change.
What needs to be taken into consideration and is one of the most important points is property taxes. Are they comparing Salisbury to other areas that are taxed both from the city and the county?
This data is completely pointless unless all the taxes and fees are in the equation-completely and utterly pointless and should be thrown right in the trash can because any discussion is pointless without this info included and if Ireton presents it without this info then he is showing what an amateur he really is. Of course other dems will be all into it because we all know they aren't the brightest bulbs in the packs.
High foreclosure rate ---> low property values and high demand for rentals
High demand for rentals ---> higher rent
Low property value + higher rent ---> higher profits for investor landlords
Higher landlord profit ---> more investment in rentals
More investors buying lower valued property ---> less affordable homes on market
More rentals ---> less residents with personal involvement in wellbeing of neighborhood
Less residents who give a damn about the neighborhood---> Higher crime + lower property values = more slums
Higher crime---> white flight
Higher crime + white flight + deteriorating neighborhood--->lower rent
Lower rent--->less profits for landlords
Less profit for landlord---> lower incentive to keep the property decent
Deteriorating property--->lower rent
Low rent---> more destructive renters
More destructive renters--->negative landlord profits
Negative landlord profits---> higher foreclosure rate...
Repeat cycle over a couple decades...
--->Baltimore City
Baltimore City + Even worse city management--->Detroit
Such is the story of BRA in the little inner city.
Do something about the outrageous utility prices, Mayor.
i work a full time job and i can't afford that price!!
"Next: Let's talk about wages, and how a tidal wave of people who will work for almost nothing can drive wages down. This is especially affecting those who work for minimum wage, like young black folks.. so the Democrats, who say they are the only ones who will 'help' the black community are actually helping to destroy it by welcoming illegals to Maryland."
This is true and it does mostly affect blacks. Now you would think the NAACP would be on this but they aren't. The local NAACP should esp be so since this is what is keeping wages low at the chicken processing plants where large numbers of blacks are employed. Don't expect it though. The local NAACP losers only care to be ramming their brainless heads up the filthy rectum of anything that has to do with the fake racism problem, because they are still nothing but good all obeying slaves to the democrat party.
Right supply and demand. Immigrants even legal ones will live 2 and 3 or more to a bedroom to cut down on costs. This drives the rental rates higher. Or grown children will live with parents and even grandparents all together in one home.
salisbury has always been to high rent for the income people have to work 2 jobs just to have a place to live. the only reason rent is like it is because of the collage. people know that SU has become a very good collage and more and more people are starting to attend. so the people that rent out the homes rent out bedrooms for 500.00 a room and a 4 bed room will bring them 2000.00 a month so other people think they should get 1500.00 a month for a simple 2 bedroom house or apartment. so what that leave you for the low income people is to take section 8 just so they can survive.
don't hate the people that rent blame the people that try to make there retirement off of the people that have to rent. i know i know you going to say if you don't like to rent then buy a home. fine but then you are taxed to death
Isn't like 70% of the housing in this town rental? And isn't almost all of it controlled by SAPOA? Seems like a cartel has formed, to me. All it takes is a wink and a nod behind closed doors, and everybody's rent goes up.
Just another reason I moved out of town. I couldn't compete with cash offers from landlords making 2x - 3x the mortgage in rent payments. It was near impossible to save up for a downpayment with rents so high.
So, raise property taxes again, Jimmy boy! Raise water and sewer rates and throw in an increase in Rain Tax as well! How about a chimney tax next? The landlords have to pay for that crap somehow, so they are forced to raise the rent!
It's really NOT rocket science...
You cannot "control" everything, just your spending. Oh, not that either, eh, Jimmy?
Is this per person or per household? If its per person I really need to raise my rates.
Ireton ,tick tock tick tock.
John the slumlord cannon will be hapy happy happy.
Right. You can not get an accurate picture without taking into consideration the landlords costs. I know someone who rented her house out when she got married and now she gets a bit more than other houses in the area. This because she pays for trash pick up and yard cutting and maintenance after previous tenants let trash pile up and the yard get overgrown.
Landlords are in the business to make money.if you don't like it move or buy a house and then you will find out why rent is so high
Now that folks can raise chickens in Smallsbury, it should pass a cluck tax on them.
This is a reworked proposal from the mayor. The original one (five or six weeks ago) mentioned the success of rent stabilization program in College Park, Md. The program was taken off the books in Oct 2014, because it had an almost opposite effect on the rental market compared to what it was supposed to do. Included was an increase in problems properties that were rent stabilized, and rents continued to rise. There are many articles on the web about this so read it yourselves. Also read about NY City and how rent controls and stabilization benefit poor people, NOT!!!
Don't blame the landlords, the college through their policies sets the cost for housing in Salisbury. The University charges $500 a month per person per room (2 to a room) for housing on campus this sets the going rate for a room in a rental house. $500 per person is the market rate. Economics and supply and demand. Want lower rental costs make the University build more on campus housing and require students to live there. Of course be prepared to pay higher taxes so the University can build the extra housing. Otherwise quit complaining and live with it.
7:50 I don't think so.
Dormitory rent is not directly equivalent to "real world"' rent.
Most people aren't in the market for a single room, shared with a stranger. And those are on campus and aren't available to the general public.
Also, dormitory rent includes utilities.
The off-campus "student rentals" are a factor, though.
Get rid of the ghetto.
11:17 You haven't any understanding of real world economics.
Has anyone thought about the "College Input" in this.....Lets face it....since the population of On campus living has been declining for years....So maybe this is the back door in getting more college students back into the money that is currently going to the landlords instead of the State tills
Start looking at the five or so (major) slumlords in this town.. They collude (against the law) to keep rentals at certain (high) rates, they trade properties back and forth to scam the tax system (maybe not against the law, but sleazy and greasy), and gouge college students and the poor. They leave a trail of slime wherever they go....
BUT, they are well protected by their presence on the City Council, their status as attorneys and power players in Salisbury, and the good 'ol boy network.
I know, I know.....being down to your last 400 rentals and your last $20 million ain't easy.
Now, some of those same slumlords are proposing MORE "housing". Built on property they acquired from "we, the people" at criminally (yeah, I said it) low prices. Arranged by, and protected by the OTHER slumlords. I wonder, what is their motivation for THAT?
Steal more from the people and compound it by stealing from the poor each month, forever.
Look up, and read about, the French revolution.
Keep cheering.
4:31 pm got it exactly right. What is being left out in most of these comments is the lack of quality jobs in the area. There are no more Dresser Wayne's in Salisbury, everything is low end jobs. Hard to pay the rent when a person is relying on retail and the food industry. High cost of living makes rent costs more difficult. Unfortunately, the answer would be relocation or section 8. With the job market, buying homes is almost impossible for some. It is a never ending cycle that will only get worse on the shore.
if we had high quality jobs is this ghetto those jobs would be hard to fill, why would homey get out of bed to go to work when all he needs to do is go to the mailbox
Rent-Bury
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