Rental costs for young adults moving out

[Anonymous]

This is really just a vent, more than anything. Our 23 yr. old college graduate has been living at home since graduating, while working and saving money. He is now ready to move out (can't blame him!). We are all floored by the high cost of rent in this area - he's looking in NoVA, specifically Reston, Vienna, Tysons, Arlington, etc. Obviously it's an expensive area and he's planning to have roommates, but we're wondering what others have done. It looks like he'll be spending a good chunk of his paycheck on rent, something we were able to avoid for the last year or so. How do young people save money anymore??

We've told him he's welcome to live at home for as long as he'd like in order to continue saving, but of course he wants his own place at this point, as we did too when we were his age.

[Anonymous]

You locate where you can afford, where the job and salary equate to a reasonable standard of living. That may not be in the DMV. Just because someone wants to be living in the DMV and has some kind of job here, doesn't mean they should settle here.

[Anonymous]

He should be living with roommates if he’s moving out of your home. He should look for 2BR, 3BR or group houses. He may need to room with strangers that he will vet over Facebook groups. Aiming for around $1200/month or lower per person should be reasonable.

[Anonymous]

Roommates, as he plans to do.

[Anonymous]

Plenty of people have totally lost touch with the cost of housing. Ask your parents how much it costs to rent an apartment in the closest complex to their house - I bet they can't tell you.

[Anonymous]

Anonymous wrote:This is really just a vent, more than anything. Our 23 yr. old college graduate has been living at home since graduating, while working and saving money. He is now ready to move out (can't blame him!). We are all floored by the high cost of rent in this area - he's looking in NoVA, specifically Reston, Vienna, Tysons, Arlington, etc. Obviously it's an expensive area and he's planning to have roommates, but we're wondering what others have done. It looks like he'll be spending a good chunk of his paycheck on rent, something we were able to avoid for the last year or so. How do young people save money anymore??

We've told him he's welcome to live at home for as long as he'd like in order to continue saving, but of course he wants his own place at this point, as we did too when we were his age.

Why are you involved at all?

None of your business how much he pays.

He must learn to budget.

Yes rents are pricy. $1800 and up... rare to be lower even with roommates unless it's a dumb or in a bad area.

[Anonymous]

It sucks Op. But it drives people to marry. Rather live with someone they know and like, and love. And two can live cheaper than one! Half-way kidding about this but not totally.

[Anonymous]

LOTS of young college graduates around here are making $85k+/year at 23. That’s new grads working at any of FAANG, McKinsey/Bain/Boston Consulting Group, Accenture, Oliver Wyman, even the big 4 Accounting/consulting firms start around that.

Your son might need to go back for another degree, or upskill in some way.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is really just a vent, more than anything. Our 23 yr. old college graduate has been living at home since graduating, while working and saving money. He is now ready to move out (can't blame him!). We are all floored by the high cost of rent in this area - he's looking in NoVA, specifically Reston, Vienna, Tysons, Arlington, etc. Obviously it's an expensive area and he's planning to have roommates, but we're wondering what others have done. It looks like he'll be spending a good chunk of his paycheck on rent, something we were able to avoid for the last year or so. How do young people save money anymore??

We've told him he's welcome to live at home for as long as he'd like in order to continue saving, but of course he wants his own place at this point, as we did too when we were his age.

Why are you involved at all?

None of your business how much he pays.

He must learn to budget.

Yes rents are pricy. $1800 and up... rare to be lower even with roommates unless it's a dumb or in a bad area.

Definitely not $1800 with roommates. That’d would be if he lived in a 1BR alone.

It’d be around $1300 for him (per person) living in a 2BR.

[Anonymous]

Live with GMU undergrads.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is really just a vent, more than anything. Our 23 yr. old college graduate has been living at home since graduating, while working and saving money. He is now ready to move out (can't blame him!). We are all floored by the high cost of rent in this area - he's looking in NoVA, specifically Reston, Vienna, Tysons, Arlington, etc. Obviously it's an expensive area and he's planning to have roommates, but we're wondering what others have done. It looks like he'll be spending a good chunk of his paycheck on rent, something we were able to avoid for the last year or so. How do young people save money anymore??

We've told him he's welcome to live at home for as long as he'd like in order to continue saving, but of course he wants his own place at this point, as we did too when we were his age.

Why are you involved at all?

None of your business how much he pays.

He must learn to budget.

Yes rents are pricy. $1800 and up... rare to be lower even with roommates unless it's a dumb or in a bad area.

https://www.zillow.com/vienna-va/apartments/

[Anonymous]

Where did he live in college? Did you pay his rent? Sometimes doing that insulates kids too much.

[Anonymous]

He continues to stay at home. Period.

Can you remodel your home in a manner that he can have a seperate living area? Can he move in your basement with a different entrance? Or the in-law suite?

In some parts of Asia, there are love hotels for people to rent rooms for a few hours to meet their GF/BF because they are living with parents.

Anyways, I hope he has a good understanding of how much the housing situation sucks here, and that he needs to save money now for four things - retirement, college for his yet unborn kids, a house in the future when he marries, and savings.

Hope you are paying for his wedding.

[Anonymous]

Roommates in a crappy walk up with window a/c units not in a trendy area.

[Anonymous]

Anonymous wrote:He continues to stay at home. Period.

Can you remodel your home in a manner that he can have a seperate living area? Can he move in your basement with a different entrance? Or the in-law suite?

In some parts of Asia, there are love hotels for people to rent rooms for a few hours to meet their GF/BF because they are living with parents.

Anyways, I hope he has a good understanding of how much the housing situation sucks here, and that he needs to save money now for four things - retirement, college for his yet unborn kids, a house in the future when he marries, and savings.

Hope you are paying for his wedding.

This isn’t Asia.

Parents are under no obligation to pay for weddings, nor should they.

OP’s son should move out if he wants to and learn how to live independently (from his parents, but with roommates).