Monthly Rental Prices: Kuala Lumpur vs. Major Cities

Monthly Rental Prices: Kuala Lumpur vs. Major Cities

Renting in major cities where we work

When we speak about renting, we usually speak about renting in some major cities where there’s a lot of job opportunities. Where people from smaller towns, after they graduate, they would move to the bigger cities. More jobs meant more opportunities to continue rising up the corporate ladder. Many will start by using their effort (time included) to earn their monthly salary. With more knowledge, they get higher pay because of what they know. With more experience, they get even higher pay for how they guide others and by the time they have knowledge, experience and even expertise, they could be leading teams or organizations.

That’s when they are paid no longer for their time but for how they move the teams towards the company’s goal. Before everyone gets there, their monthly salary would need to be spent on rental. Today, let’s look at the rental around the world, in those major cities where people move to for work. Kuala Lumpur included.

No need to be too surprised about the few cities at the top

As we are using US$ as the basis for calculation, any currency which has a smaller value would definitely be ranked lower. It does not mean the affordability is better or worse yeah. Just meant that in US$, it’s a smaller number. These few are at the top of the rent prices around the world. Out of the top 5, I am happy to say that I have been to 2; New York and Los Angeles.

The top 5?

At the top is New York – US$8,400 per month, followed by Boston – US$6,100 per month and then followed by three other US cities; San Francisco (US$5,400), Chicago (US$4,700) and then Los Angeles (US$4,500). Please do not convert to RM or you may be drowning in debt just to pay rental after receiving your monthly salary. Haha. Of course, fyi, even working professionals in these top 5 cities could be paying their rental and crying themselves to sleep every night too.

Higher pay than average is needed for rental

Average salary in New York is close to US$7,000… (Source: statistic.com). In other words, if we are earning an average salary, then we need to find someone to share the rental for that 3 bed-room apartment. Or… we stay in a smaller place instead. Just need to note that if a 3-bedroom apartment is US$8,400 a 1-bedroom cannot be half yeah. So, it’s still high if someone is earning just an average salary in New York. We need to work harder and be the ones who are paid much higher than average. If we are, then our life’s good.

Where is Kuala Lumpur?!

Look down… really down… past Hong Kong, Singapore, Bangkok, Manila, Jakarta and you will see Kuala Lumpur at US$1,100 for a 3-bedrooom apartment in the city centre. US$1,100 is around RM4,400. So, yes, this number looks realistic enough for a 3-bedroom apartment. In fact the choices are good and definitely are the above average ones. We could easily get something cheaper but maybe not as attractive. Take a look at some examples below from property guru.com.my

Choices are aplenty too even for half of US$550 (RM2,200)

It would not be with KLCC views, maybe. It may not be as fully furnished. It may even be those much older units. Well, choices remain aplenty. More like we choose the ones within our budgets. In some developed cities, these choices are not easily found. Or the neighborhood may not be that conducive as well. Yes, I am definitely happy with the choices I have in KL. Just remember, renting is forever, so first choice would still be to save enough and get a place to call our own. Then, we will be safe and may not need to look at these spiraling rental charts every other year.

Cheers.

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