Holy crap. My family used to rent our house a few years ago. It was a 2 story, 5 bedroom, 3 bathroom house with amazing ocean views, with a train station, a major shopping centre and a marina all within walking distance, and it went for $400 AU (thats about $250 US off the top of my head) a month. You can have NYC.
Although, for comparison, what is the average wage over there?
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