How much for a home?

I’m just curious: How much do you spend each month on your rent or mortgage?

Prices for housing in Hong Kong are some of the highest in the world, or so it would seem.  Our flat costs $25,000 HK dollars ($3,205 US dollars) per month.  And it’s not that great of a place.  In the same area as us you see flats ranging in rent from $20,000 – 130,000 HK dollars per month (that’s $2,565 – 16,667 US dollars per month… that is not a typo).  My house in St. Louis, MO had a mortgage of around $700 USD per month so the sticker shock when looking here in Hong Kong was a bit extreme.

So like I said… I’m curious.  What do you pay for the place you live in?  You don’t have to say where that is if you don’t want.  Just thought it would be interesting to get some perspective on this.

8 Responses to “How much for a home?”

  1. kat says:

    st. louis housing is strangely cheap. my mortgage is $503.

    i’m looking at moving, and the sticker shock is killing me. and i am not going to someplace as nearly expensive as HK.

  2. Jason says:

    Wow…Hong Kong is expensive. But even more surprising is how cheap St. Louis is. Our mortgage in Phoenix was $1,100 per month and our new house that’s being built in Las Vegas will probably be $1,700 per month.

  3. Crockdaddy says:

    STL Housing is modest relatively speaking. My mortgage is around 1350 / month.

    Most newer homes in STL sell for 240 to 350 .. Mortgages would in this case be quite a bit more than I pay.

    The 503$ mortgage or the 700$ mortgage you can get if you bought your house about 14 years ago lol … not so much anymore. Unless you are buying a big time fixer upper or have a very good down payment.

  4. Insomnic says:

    The $700 a month mortgage in STL is still possible. Friend just bought a decent 2 bedroom house (finished basement)and pays about that ($120K I believe is what he bought it for).

    The trick in STL is location and perceived location value.

    Same was true in Chicago. I lived in Wheaton and it was about $750 a month in rent for a Fisherprice “my first apartment” – one bedroom and nothing special area wise. One town over though and it was $700 for a two bedroom with walkout porch and a parklike setting. I have no idea what caused the difference. Certainly couldn’t tell where one town ended and the other began.

    On average – STL is very inexpensive compared to other cities of similar size. I’m sure this is one reason people don’t leave STL.

    When I was looking at home prices in Hong Kong … yeah… I was looking at some pretty small places (though still cool) in some out of the way locations because I just couldn’t fathom spending that much for extra space. Same thing for London. The non-expatcentric locations were a LOT cheaper by the way in both locations… just would take a little more adjusting and work to deal with those types of locations.

    Holy crap I’m bored at work!

  5. crockdaddy says:

    Aside from the rare exceptions I believe the average selling value of STL houses has been 167K … again you can find value but generally speaking, if you want a fairly modern house that is 3 BD Basement and two car attached garage you are going to pay around 160 to 210 ish. The area matters if you happen to have kids, if not and you are not as concerned about appreciation then you can certainly do better price wise. It depends on what you are looking for, but 700/ month mortgage is going to be the exception rather than the rule if you are first time buying.

    My pricing is of course based off of western STL suburbs which tend towards being more expensive.

  6. Geez, I thought St. Louis was expensive (I grew up in southern Missouri where land is cheap.) The mortgage on my house is about $700 something. The rent on my apartment is $575. The houses I want are about $300K.

  7. Crockdaddy says:

    If you want a brand new house in STL, I would definitely expect to pay 250 to 450. Rent in STL ranges 600 to 1500 depending on the apartment. I am of course talking about the ‘burbs mostly.

  8. Top 5 Late says:

    […] Monica, Ca. But apparently they are even more expensive in Hong Kong. At least thanks to a post by cybrpunk. I was surprised…a little […]

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