Having a single roommate can cut down on rent costs by as much as $617.58 per month. When it comes to how much one is most likely to save on spare bedrooms, there isn’t too much research on this. Recently, though, Trulia published a report on how much Baby Boomers stand to make renting out extra rooms in major cities.
For those interested in renting out their spare bedroom, the top five most profitable metros to do this are Boston; New York; Oakland, California; and San Francisco. For D.C., the average rent for a one-bedroom rental is $1,725 per month, while the average rent for a spare bedroom is $941.85. With this number, the annual renter savings total $9,397.80, while the estimated annual landlord income comes to $11,302.20.
Trulia further reported that 133,685 homes in D.C., or 5.6 percent of homes, come with a spare bedroom, so there aren’t too many options—but there also isn’t further research from other real estate websites to prove this to be true.
Want to see more data on the biggest 100 metro areas in the nation? Check out Trulia’s report here.
• Boom-mates: How Empty Nesters Could Help Ease a Housing Shortage [Trulia]