Rent Costs and Zoning Laws
Few people enjoy living in downtown areas because of the surprisingly high costs of rent and small living spaces. The nation’s three biggest cities—New York, Los Angeles, and Chicago—are some of the most expensive cities to live in, but maybe not for the reasons that you might think. Sure, living in the city instead of commuting is convenient, but this convenience is not the main reason for such high costs. The main reason preventing you from choosing the right fit for your residential needs are zoning laws.
Different cities have different laws that restrict building height and dictate minimum lot sizes. Taller buildings are a great marketing strategy to fit more people into a smaller plot of land, but zoning laws keep new building construction at only a few stories. Using the most land possible would seem like a great way to keep land prices lower, but zoning laws ensure minimum lot sizes that keep more construction out of the question.
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