Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yes, Manhattan is obviously the most expensive place in America but that doesn't mean Queens and Brooklyn are inexpensive. If middle-class people bought $600k homes, the median sales price for a home in the United States wouldn't be only $178,400.
And Brooklyn and Queens are both more 3x more expensive than Miami and 2x more expensive than Miami Beach on average. Median sales price in Miami is $220k, Miami Beach: $335k. So go ask your neighbors why they aren't living in $600k+ homes.
According to Zillow Miami Beach median is 386,000 USD. I don't make a big distinction between 500,000 and 400,000. It's about the same, or to put it in percentage terms, 25% increase.
Neither are very expensive, in both cases the middle class are basically affording half a million dollar homes, in good enough percentages (remember this is the median). A truly expensive neighborhood is Jupiter Island, where the median home price is basically 4 million.
According to Zillow Miami Beach median is 386,000 USD. I don't make a big distinction between 500,000 and 400,000. It's about the same, or to put it in percentage terms, 25% increase.
Neither are very expensive, in both cases the middle class are basically affording half a million dollar homes, in good enough percentages (remember this is the median). A truly expensive neighborhood is Jupiter Island, where the median home price is basically 4 million.
Median sales price in Brooklyn is $634,000 which is significantly higher than Miami Beach. In Queens it is $504,000 which is $120,000+ more than Miami Beach.
Only 10% of home sold in the U.S. last year were above $500,000. And only 2% of homes sold in the United States were $700,000+ which is around Brooklyn's median sales price. So again the vast majority of Americas can not afford homes at those levels.
And there are only 10 homes sales on Jupiter Island on any given year, so it's pretty irrelevant to this conversation. There are more $1mm+ home sales in Brooklyn than Miami btw lol Cities with the most million-dollar homes - CNNMoney
Median sales price in Brooklyn is $634,000 which is significantly higher than Miami Beach. In Queens it is $504,000 which is $120,000+ more than Miami Beach.
OK, so 30% more in Queens. Not a big deal. Especially since most people buy their houses on credit.
Quote:
There are more $1mm+ home sales in Brooklyn than Miami btw lol
Brooklyn alone is way bigger than Miami so it's not surprising. After NYC, and maybe tied with Los Angeles, Miami urban area has the most expensive homes sold in the USA. I don't know why you have some weird axe to grind with Miami
I thought Manhattan was more expensive for some reason, but 3-4k a month for a 1-bedroom is doable for everyone with a normal job. So I stand corrected.
Also half a mil for a home is expensive? Since when? Most middle class people can afford that.
Neither of my parents could afford to live in NYC with their current income. 3-4k a month, that's 36,000-48,000 a year, and that's JUST for an apartment, and JUST with one bedroom. Then again, where I live doesn't have many (if any) high paying jobs. In a small town you probably won't make a lot unless you own your own business. My mom makes less than $20,000 and my dad makes about $40,000 a year, and that's not combined if your wondering, because they're divorced. Everyone gets divorced it seems.
I thought Manhattan was more expensive for some reason, but 3-4k a month for a 1-bedroom is doable for everyone with a normal job. So I stand corrected.
Also half a mil for a home is expensive? Since when? Most middle class people can afford that.
And half a million is cheap to you? How is $500,000 cheap? Maybe I just come from a poor community.
And half a million is cheap to you? How is $500,000 cheap? Maybe I just come from a poor community.
Average salaries in Manhattan are over 100k. Two people making the average salary, and yeah, 500k is cheap, in that context. Average weekly wages are 3x the national average.
But "Manhattan" is not "NYC". 1.7 million people live in Manhattan. 23 million people live in the greater NYC metro area.
3-4k a month is definitely middle class in some areas. I mean, my brother pays 3k a month and he's in freakin Detroit. Upper middle class, maybe, but he's far from rich.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
