Subletting is Cheaper than Renting and Here's the ProofRachel Bell
If you’ve paid attention to anything we’ve ever said, you’ve probably seen us say that subletting is often much cheaper than signing a traditional lease. Although there are plenty of reasons why subletting is superior to standard renting, the idea of lower rent is probably the most persuasive one. To prove this to you, we combed through thousands of Flip listings from the last six months to show you real statistics, and guess what?
Subletting a room or apartment on Flip is cheaper than the average rent in every neighborhood and city we researched.
Keep in mind that these stats are based on monthly rent alone - many listings on Flip don’t require the same fees or security deposits that renters have come to expect when moving into a new spot. Another added bonus is that many Flip listings are already furnished, reducing costs related to moving or buying furniture
Williamsburg, Brooklyn, New York City
Williamsburg had a moment where it was trendy - most Brooklyn neighborhoods have either gone through this or will soon - but in recent years, it slowly has become home to more married, reformed hipsters raising children than young artists or musicians. It makes sense; there are lots of parks, boutiques selling onesies made of organic, fair-trade cotton, and brunch spots, where overqualified and underpaid waiters with liberal arts degrees will begrudgingly step over your toddler as it lays on the floor of the restaurant playing games on your iPad.
Average one-bedroom rent in Williamsburg: $3,032
Average one-bedroom rent in Williamsburg on Flip: $2,921
Flip listings for one-bedroom apartments in Williamsburg are, on average, $111 cheaper a month. This may not seem like a lot, but do the math: you’ll end up saving $1,300 a year. You could afford 11 Amazon Prime memberships and get extra discounts on groceries at the Williamsburg Whole Foods! You could (almost) afford a membership at Equinox, the fanciest gym imaginable where they pass out chilled eucalyptus towels like candy!
San Francisco, California
San Francisco is one of the most expensive cities in the country for renters. In fact, research reported by CNBC revealed that the city has the second most expensive rent out of all of the “Top Financial Centers” in the world. It’s more expensive to rent an apartment in San Francisco than it is to rent in Dubai, or Paris, or Hong Kong. But the Bay Area is in high demand, with it’s concentration of tech companies headquartered there, and people keep moving despite the extraordinary cost of living.
Average one-bedroom rent in San Francisco: $3,360
Average one-bedroom rent in San Francisco on Flip: $3,158
Flip listings for one-bedroom apartments in San Francisco are, on average, $202 cheaper a month. You can end up saving just under $2,500 a year if you sublet a place on Flip. You could buy seven Apple Watches with that money! The average Uber ride in San Francisco costs about $13, meaning you could afford to take an Uber every other day for an entire year with your savings. You could pay for eighteen Netflix subscriptions. You get the idea.
Los Angeles, California
Los Angeles is known around the world for it’s famous Hollyweed sign and also for being the place in the country where you are most likely to be asked, “Who do you know at this party?” While not as expensive as San Francisco, the Los Angeles rental market is still out of control.
Average one-bedroom rent in Los Angeles: $2,065
Average one-bedroom rent in Los Angeles on Flip: $1,813
Flip listings for one-bedroom apartments in Los Angeles are, on average, $252 cheaper a month. Wow - imagine having an extra $3,024 a year to spend on whatever you want. You could buy three videos of Dennis Rodman saying anything you want him to. You could buy over 800 gallons of gas - enough to drive to and from Coachella seventy-nine times. You could afford three pounds of weed at a dispensary with the money you save.
Chicago, Illinois: The Second City. Home of that weird silver bean sculpture and people who inexplicably care about hockey. Weird Midwestern politeness mixed with blistering polar vortex temperatures. Birthplace of Mr. T. The perfect place to live if you want to be in a big city without paying too much rent and you also have a high tolerance for hot dogs with weird condiments, bad standup comedians and bad baseball teams.
Average one-bedroom rent in Chicago: $1,770
Average one-bedroom rent in Chicago on Flip: $1,589
Flip listings for one-bedroom apartments in Chicago are, on average, $181 cheaper a month. With the $2,172 you’ll save in one year, you could eat five large deep dish pizzas from Giordano’s every week. In one year, you could go on fifty-four Tinder dates to the Shedd Aquarium, paying for both your ticket and your date’s ticket. You could afford to ride the el train three times a day and watch the Cubs lose eighteen games from box seats at Wrigley Field.
Still not convinced?
Look at Flip listings in your city to get a better idea of what’s available to you. Read more reasons why subletting is way better than signing
your soul over to the devil a lease. And if you made it this far and are still thinking, “What even is a sublet?” read all about subletting and how easy and convenient it can be.
Learn about automatic payments
Visit our Knowledge Base to learn more about how automatic payments can simplify your subletting experience and how you can set up automatic payments for your sublet.