[richrf]

Hi,

My wife and I (we are both retired at 60 and very active) are moving back to the East Coast after 40 years in Chicago and we are comparing the cost of living of Stamford vs. White Plains. We will be renting for the foreseeable future and it seems like a nice 2b/2b in downtown Stamford would be somewhere around $2200/mo while a similar unit in White Plains may be $2800+. Plus it seems like availability in Stamford is much higher.

I was wondering if this seems correct and if there is a reason for the disparity other than the extra commute time to NYC. Both seem like wonderful places to live. Thanks for any info that you can provide.

[kidyankee764]

Both cities are very expensive. I don't think WP is that much more expensive than Stamford for rentals - though someone correct me if I'm wrong. Each year, a list is released on the most expensive MSA in the country to rent, and Stamford/Norwalk/Bridgeport has been number 1 for many years.

Personally, I think White Plains has a little more character. Stamford is more 'blah' and snooty. JMO.

[7 Wishes]

Overall, rents in White Plains and Stamford are about the same, they are both pretty crazy compared to most of the rest of the US. One reason Stamford may be a little cheaper on rent for the same size apt. is that property taxes (in this case for the landlord) are cheaper in CT than Westchester (but still nuts compared to most of the country) and perhaps that difference is being "passed on".

For it to really "get cheaper" in CT and adjacent NY, draw a line on the map from about Newburgh/Beacon to Danbury to Bridgeport and it would be anything north and east of that. Good luck and welcome back to the East!

[richrf]

Thanks everyone for your replies. It is very much appreciated.

My wife and I are decidedly easy-going, so I hope we find a space for ourselves in the Stamford area that is casual and down-to-earth. White Plains looked excellent to us until we actually decided to look for potential apartments to rent when we move.

It is definitely more advantageous to buy than to rent in White Plains and Stamford at this time, but Stamford is downright cheap compared to White Plains. Of course, we have to look at the condos/apartments when we visit but at least on paper the cost per sq. ft and the condition of the units is much more in favor of Stamford. I would say stamford looks like 2/3 the cost - on paper.

One reason for this is that there may be excess condo/apartment inventory in Stamford at this time. Maybe there was over-building? I don't know. You guys probably know better than I. But looking for a place in Stamford (via internet MLS sites) compared to White Plains its like night and day.

Any other insights would be greatly appreciated. Very much appreciate the assistance. Thanks again!

[Stylo]

I'm not sure that I would call Stamford "down-to-earth", maybe moreso than the extremely affluent area around it. Certainly coming from the Chicago area you're not going to find it terribly grounded. What exactly are you looking for? If you're retired, there are other great options in places that are more relaxed/down-to-earth and less expensive than Stamford/White Plains. They are expensive because of their proximity to NYC for workers, but if you're just looking for train access to NYC for leisure - there are so many options. Towns like Fairfield and Milford offer the easy train access, but also a more laid back existance, without sacrificing things to do, outdoor recreation, beaches, walkable downtowns, great restaurant scene, etc. And are quite a bit less expensive.

Careful how you judge Stamford prices. Those cheaper places could be in less desirable areas. The best parts of Stamford - the ones you really want to live in - are very expensive.

[richrf]

Originally Posted by Stylo

I'm not sure that I would call Stamford "down-to-earth", maybe moreso than the extremely affluent area around it. Certainly coming from the Chicago area you're not going to find it terribly grounded. What exactly are you looking for? If you're retired, there are other great options in places that are more relaxed/down-to-earth and less expensive than Stamford/White Plains. They are expensive because of their proximity to NYC for workers, but if you're just looking for train access to NYC for leisure - there are so many options. Towns like Fairfield and Milford offer the easy train access, but also a more laid back existance, without sacrificing things to do, outdoor recreation, beaches, walkable downtowns, great restaurant scene, etc. And are quite a bit less expensive.

Careful how you judge Stamford prices. Those cheaper places could be in less desirable areas. The best parts of Stamford - the ones you really want to live in - are very expensive.

Thanks for your reply. Yes, I know that each area is going to be quite different which is why I will have to wait to visit in order to really understand what is going on. But we were looking in the downtown area, which, at least according to the sites that report on safety, still ranks much better than any other area that we were looking at. We are focusing on areas that have a good supply of apartment and condo inventory.

As far as what we are looking for, you pretty much described it and we will be checking out Milford and Fairfield while we are out there. But upon doing our Google Streetview walk (so enjoyable), we thought that these towns might be too small. Where we live in Chicago in the Lakeview area, we have miles and miles of walkable, tree lined streets (Broadway, Clark, Halsted, Lincoln Park) where we can stroll each day (we are big walkers) with lots of different shops (new ones are bubbling up all of the time), and nice coffee shops to sit with friends and talk. Besides this we have our other activities like tennis, table tennis, bridge, dancing, etc.

If there are particular areas we should focus in on I would very much appreciate your feedback - in Ct. or elsewhere in N.Y. or N.J. But the big obstacle is reasonable condos and apartments. There is very little inventory that we could find that could come close to the affordability of Stamford. if there is a realtor on this forum who has looked at these areas, it would be great to hear whether we are totally off base. We have talked to several realtors already in Queens, Hoboken, White Plains, and elsewhere in Westchester and have somewhat confirmed the going rates.

Thanks again for your assistance!

[Stylo]

Yes, many towns will feel limited compared to where you're coming from. I'll say where I live, there are tons of sidewalks. Many places on the southwest coast closer to the water have a decent amount of sidewalks. It's fairly dense where I live. I can personally walk the nearly 2 miles to downtown from my house 100% on sidewalks, hop on the train and be in New Haven in 15 minutes. Or walk to Woodmont in the other direction, another 2.5 miles, 100% sidewalks and walk along the sidewalks by the water. So in that sense it's a pretty walkable area, though it can't compare to a real city.

Stamford is definitely pretty walkable, but it is pricey to live in an optimal part of downtown. It's a great city and I do recommend it if quick access to NYC is paramount. You have coastal access which you won't in White Plains. More of the city is safe. The 2 cities actually have a pretty similar feel. Not tons of character, but plenty to do. The closest to what you're looking for in feel without being in NYC itself might actually be, say, the East Rock section of New Haven.

Anyway, prices drop A LOT as you move away from NYC. Most of the towns east of Stamford are quite a bit cheaper. For example, in downtown near me, you can spend under $2k and have a huge 1BR luxury apartment with harbor views within walking distance to restaurants, coffee shop, etc. and the train: Metro Point Apartments. And that's on the high side.

All that being said, you are looking in all the right places - but you'll find the more laid back feel follows the trajectory of lower rents in this area.

[richrf]

Originally Posted by richrf

Hi,

My wife and I (we are both retired at 60 and very active) are moving back to the East Coast after 40 years in Chicago and we are comparing the cost of living of Stamford vs. White Plains. We will be renting for the foreseeable future and it seems like a nice 2b/2b in downtown Stamford would be somewhere around $2200/mo while a similar unit in White Plains may be $2800+. Plus it seems like availability in Stamford is much higher.

I was wondering if this seems correct and if there is a reason for the disparity other than the extra commute time to NYC. Both seem like wonderful places to live. Thanks for any info that you can provide.

Thanks again for the helpful information. We are looking forward to visitin CT. in a couple of weeks and hopefully find a nice place to live.

[cscott36]

If you're going to spend $2500-$2800, why not look into Greenwich? You might even get a smaller home for that price (yes, I've seen them on craigslist, and not the scam kinds )

[richrf]

Originally Posted by cscott36

If you're going to spend $2500-$2800, why not look into Greenwich? You might even get a smaller home for that price (yes, I've seen them on craigslist, and not the scam kinds )

Thank you for the helpful advice.

It was my impression that Greenwich was more expensive and did not have the downtown area that Stamford has. I have a regular real estate email alert, and while there are a handful of rental listings for Stamford, there have been practically none for Greenwich. Should I be searching in a different way? Thank you again for your suggestion.