All of our apartments at 17th Place in Webb City and 20th Place in Joplin have extraordinary amenities designed for upscale family living or luxury living. From modern appliances to great neighborhoods, we want you to have the best living experience possible.
One factor when choosing your place to live is the rent. You want your rent to be reasonable when it comes to the amenities, location, and services provided. Our guide explains how to determine if your rent is reasonable as you research your next living situation.
Factors That Determine What Reasonable Rent Is
There is no “one size fits all” method to determine what reasonable rent is. What it comes down to is, can you afford where you are going to live? However, several things go into where you choose to live.
Location, Location, Location
You’ve probably heard this mantra many times. Rent varies significantly based on geographic location. Major cities or high-demand neighborhoods generally have higher rent figures compared to rural or less popular areas. Joplin is a very affordable city to live in compared to, say, Tulsa, Fayetteville/Bentonville, Kansas City, and St. Louis.
Market Rates
Compare rent prices for similar properties in the area. Online platforms like Zillow, Apartments.com, or looking at websites for individual properties can help. We have a handy property search that can help you narrow your choices by the amount of rent you can afford for apartments in Webb City, Joplin, and surrounding areas.
Income Level
Financial experts often recommend spending no more than 30% of your gross monthly income on housing. This includes rent and utilities. So, take this into account when choosing a place to live.
Property Type and Floorplan Size
The number of bedrooms, bathrooms, square footage, and amenities, like parking, gym, pool, and playground, influence the rent of each unit. What top-shelf amenities do you see at the apartments in Webb City or Joplin that you’re considering?
Lease Terms
Long-term leases may have lower monthly rent compared to short-term leases because it’s easier to keep long-term renters than it is to find new short-term renters.
Additional Costs
Consider additional costs such as utilities, internet, commuting to work, and renter’s insurance. Your overall costs of living should help you live within your means.
Example Calculation for Rent
- Gross Monthly Income: $4,000
- 30% Budget for Rent: $4,000 × 0.30 = $1,200
Reasonable rent, in this case, would be around $1,200 per month.
Again, your exact situation may be different from this scenario.
What do surrounding complexes charge versus the one you’re interested in?
Researching nearby apartment complexes online offers valuable insights into assessing reasonable rent for the place you’re interested in. Look for places within a mile of the apartment complex you’re interested in. Are they comparable in size? Do they have similar amenities? What are the floorplans like?
Visit the websites of these apartment complexes to gather detailed information. Pay attention to promotional offers or discounts that might temporarily lower rent costs, like a move-in special. Make notes on unit availability and lease terms, which could influence your decision-making process. Look at each apartment’s social media accounts. They might post specials and discounts there.
Contact Each Complex
Call or email the leasing offices to obtain additional details not listed online. Ask about administrative fees, utility arrangements, or maintenance policies. Gather information on community features, such as parking availability, security measures, or shared spaces like clubhouses, pools, and a workout room. This direct interaction often reveals insights that enhance your evaluation, particularly when dealing with a property manager.
Take a Tour
Touring the apartment complexes adds another area of insight. During visits, assess the condition of units, common areas, and the overall property. Observe how management maintains the premises and interacts with residents. See what’s happening at the complex. Are there community events?
We recommend compiling a list of selling points for each complex, like a pros and cons list, and comparing rent figures side by side. Factor in differences in amenities, location advantages, and the condition of properties. Determine whether the apartment you initially liked offers competitive pricing relative to its neighbors.
What’s the neighborhood like?
The apartment complex is only part of the story. Exploring the neighborhood surrounding an apartment complex helps determine whether the rent aligns with its location. Start by researching key aspects such as safety, access to public transportation, and the availability of essential services. Even an apartment complex just a mile from the one you’re interested in can have a completely different vibe based on safety, nearby amenities, transportation, and crime.
Online tools like crime maps or transit schedules provide a detailed view of these factors. A safe, accessible neighborhood often justifies higher rent, while limited conveniences may indicate overpriced units.
Walk or drive around the area to evaluate its overall atmosphere. Observe the condition of streets, sidewalks, and nearby buildings. Look for parks, grocery stores, restaurants, and entertainment options within walking distance. A vibrant, well-maintained neighborhood adds value to an apartment complex and can influence what qualifies as reasonable rent.
Analyze proximity to major employment hubs, schools, and healthcare facilities. Living close to these amenities saves time and commuting costs, which often justifies higher rent. On the other hand, an isolated location or lengthy commutes to work or school may signal a need for lower rental pricing. Weigh these trade-offs carefully.
Talk to people in the neighborhood, like at local stores and banks. See what things are like. Are people friendly? Rude? Keep to themselves? One person’s attitude may be an anomaly. If multiple people seem untoward in the neighborhood, do you think something might be “off” about the neighborhood?
Where can you afford to live based on your income?
Affordable housing within your income level is probably a huge factor when it comes to choosing your next place to live. Remember, your housing costs shouldn’t exceed 30% of your gross monthly income.
Several online rental platforms allow you to search for a range of budgets. Input your budget to filter search results, focusing on areas that offer affordable options. Compare features such as apartment size, amenities, and lease terms to find the most ideal complex for your situation. This method ensures you concentrate on locations where your income comfortably covers rent and related expenses like utilities and internet.
Explore cost-of-living factors specific to each area, including transportation, groceries, and healthcare. Some neighborhoods may feature lower rents but incur higher living costs, which could strain your overall budget. Conversely, an area with slightly higher rents might offer savings in other areas, such as reduced commuting expenses that save on gasoline or have relatively affordable public transportation.
Evaluate trade-offs between affordability and quality of life. If your budget restricts you to smaller spaces or less convenient locations, consider whether those compromises fit your priorities. Alternatively, identify opportunities to expand your options, such as splitting rent with roommates or bringing in more income.
Use Online Tools to Find Nearby Places
There are several online tools that help you find apartments based on income, budget, transportation, and the surrounding neighborhood.
Online rental platforms like Zillow, Apartments.com, and Rent.com allow you to filter options by price, location, and features, helping you identify apartments within your budget range. Look for detailed descriptions, photos, and virtual tours to streamline your search and narrow choices before taking a tour.
Budget calculators available on financial websites can help you determine how much rent you can afford. These tools consider your income, debt, and other expenses to calculate a realistic housing budget. Use this information to set clear limits when browsing listings so you don’t spend too much on housing.
Neighborhood analysis tools like AreaVibes or Niche help you evaluate potential locations. You’ll gain insights into safety, schools, amenities, and cost of living. Combining this data with rental prices helps you identify neighborhoods that balance affordability with quality of life.
Transportation mapping tools, such as Google Maps or Walk Score, let you assess commute times and accessibility to resources in the local area. You’ll see how close an apartment is to work, public transit, or essential services. Shorter commutes or walkable neighborhoods can offset slightly higher rent by reducing transportation costs.
What’s the cost of living for where you are moving to?
As we stated earlier, Joplin and the surrounding areas have a relatively low cost of living. There’s an online tool that compares one place to another when you’re moving. It shows you how much you would need to make in your new city.
For example, if you make $60,000 and live in St. Louis and you’re moving to Joplin, you would need to make $57,447 to have the same lifestyle. The cost of living is 4.26% lower in Joplin.
If you put Fayetteville, Arkansas, into the same calculator, you’ll note that the cost of living in Joplin is lower by 8.65%. You’ll need to earn $54,808 in Joplin versus $60,000 in St. Louis.
Read Reviews
Reviews can come from many sources. Google, Yelp, Facebook, Apartments.com, Zillow, and Rent.com all have review features. Gauge the overall rating based on the number of reviews and any outliers. If there are 300 reviews with less than 10 rates at 1 and 2 stars, you would have to judge for yourself if those reviews are genuine or just someone who is upset with the company.
Do any reviews talk about the cost of rent? Keep in mind that there are many factors that go into the cost of rent and that there are always other factors that might not come out in online reviews.
See if there are recurring themes about the property. Pay attention to comments on maintenance responsiveness, lease terms, and communication with management. While individual complaints may not reflect the overall experience, consistent issues can signal potential red flags. Conversely, positive feedback from multiple tenants may validate the property’s reliability.
Examine Property Features
What amenities do you value at your apartment? Top-tier amenities include in-unit laundry, covered parking, central air conditioning, and a patio or balcony, to name a few. Look for other perks like a fitness center, a pool, and a coworking space/business center, which can increase the property’s value and justify a higher rent.
How Are Utilities Paid?
Inquire about utility arrangements and included services. Ask whether rent covers utilities like water, gas, or electricity, and confirm if the property provides internet or trash collection or if you have to pay for those separately. Clarify the costs of optional services, such as covered parking or on-site storage units. These details help you understand the full financial commitment beyond the base rent.
What Are Your Priorities?
Weigh the importance of each feature against your lifestyle and needs. Determine which amenities you value most and ensure the property aligns with your priorities. For example, a fitness enthusiast might prioritize a well-equipped gym, while someone working remotely may focus on quiet spaces and reliable internet.
Look at the Lease Length
Longer leases may have lower monthly rent in order to incentivize signing a longer agreement. Going for six months, three months, or month-to-month might bump up the costs because it costs money to find new renters.
So, if you like the property after taking a tour, ask yourself if you can live in your new place for a year. If so, you could save money on rent versus a shorter lease length. Breaking a lease before it’s up or moving to a shorter lease can also lead to additional fees, so keep that in mind.
Research Tenant Organizations
Find out if there are local tenant associations or community groups linked to the property. Platforms like social media, neighborhood forums, or review sites often host discussions about tenant experiences, management practices, and property conditions.
Contact tenant organizations directly to gain firsthand knowledge about the complex. Many groups advocate for renters’ rights and maintain records of disputes or successes with local landlords. Ask about any ongoing issues, such as unresolved maintenance problems or unfair rental increases. These organizations often provide honest assessments, giving you a clearer picture of what to expect.
Investigate local tenant laws and protections these organizations might highlight. Understanding your rights as a renter ensures you navigate lease negotiations effectively and avoid problematic situations. Tenant advocacy groups frequently share resources and guidance, helping you make informed decisions about signing a lease.
Finally, use the information gathered from tenant organizations to weigh the property’s pros and cons. If significant concerns arise, consider whether the issues align with your dealbreakers. On the other hand, an active, supportive tenant community can enhance your living experience by fostering a sense of accountability and shared values.
We’d be happy to help you with any questions about tenants’ rights in your local area. Just ask us, and we’ll point you in the right direction.
Weigh the Pros and Cons of the Apartment Complex
Aside from the base rent and any associated fees, reasonable rent comes down to the value you get for the price. If two apartments have identical floorplans, similar amenities, and good neighborhoods, the differences in price can help you make an easier decision. On the other hand, rents vary widely based on the features, while the neighborhoods are similar, which means you’ll have to decide which amenities you want.
Take Tours of the Places You’re interested in
Schedule tours or virtual walkthroughs to assess the condition of the property and your potential unit. Pay attention to the appliances and overall maintenance. Evaluate whether the property’s advertised features meet your expectations. Look for signs of wear or neglect, as these issues might indicate hidden costs or inconvenience.
We’re happy to help! Contact us to schedule a tour of our apartments in Webb City or Joplin. We look forward to meeting you!
