What's your spare room worth?
January often starts with a hangover. But we're not talking about the lying down in a dark room kind - we're talking about financial hangovers, the ones where you realize your finances are even more stretched than you thought and you're resolved to change that this year.
If there's an empty bedroom in your house or apartment, one of the simplest ways to earn extra cash is to take in a lodger or roommate. If you own the property this can be fairly straightforward and, in fact, plenty of Americans do this already. Even if you rent your home you may be able to take advantage - for example, if you live in New York state there's something called the 'Right to have a roommate'.
The key question, of course, is 'how much could I earn?' Here's our guide to the average rent roommates pay in the top 30 US metro areas, to give you a sense of what your room might be worth. Actual amounts will vary depending on where you are, but this will give you a good starting point.
|Metro area||Average Rent $|
|San Francisco Bay Area||1,238|
If you want to see what rents look like in your neighborhood, just search the ads on SpareRoom to see what's currently out there.
Imange credit - Blake Wheeler