>Our landlord originally listed our unit back at $2,8000/month
With a landlord demanding rent that high, how could you NOT move? :) Either way, this gives me a flicker of hope that maybe I can negotiate my rent down a bit this year.
Depends largely on the city. A few years ago, I owned a 4 bedroom, 2400+ sq. ft. home in Houston for less than half that per month, and it doesn't look like prices have gone up much (there) since then.
The landlord provides the option to live somewhere with significantly less time or financial commitment than would be required if buying. The number isn't the landlord's parasitic decision, it's just economics.
I hate these prices as much as the next guy, but if every other apartment charges that much, and they get rented... the landlord would absolutely be crazy NOT to charge that price.
You would know that landlords often seek to increase rent, without adding value to the home, while the fittings in the home age, as the amenity and wealth of the surrounding community increase.
The value of the home is increased mostly by the location of the home, and relative availability of other alternative nearby homes, much less its physical trappings.
With a landlord demanding rent that high, how could you NOT move? :) Either way, this gives me a flicker of hope that maybe I can negotiate my rent down a bit this year.