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Old 03-29-2016, 12:14 PM
 
56,618 posts, read 80,930,134 times
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Quote:
Originally Posted by T. Damon View Post
You live in one of my favorite urban neighborhoods in the country- most all cities of consequence, Pittsburgh included, have what I term the 20/80 rule. That within the greater metro area of nearly all there are only about 20% of the area and neighborhoods that I would deem the best parts (and yes, like you, that would most certainly not include the suburbs or exurbs of any). Great, core neighborhoods (historic) that have their own defined vibe and village area but are also very much a part of the greater downtown area.

Unfortunately, or expectedly these areas are typically in great demand and their price of admission is typically high, or at least comparatively to the outlying boring areas that all cities possess.

I think I'm even luckier, I can walk the downtown and the bay, and yet still have a sweet SFH and garden. Granted it's no NYC or Philly but it's a big and vibrant enough city most of the time for us. When we want more we just travel up the road or fly East.
I think cities that aren't as popular, but have enough to offer could be good for people looking for what you described. A lot of time middle sized metros will offer this or have the potential to offer this.
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Old 03-29-2016, 12:15 PM
 
Location: Prescott Valley, AZ
2,698 posts, read 2,349,321 times
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Denver metro is all overpriced.
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Old 03-29-2016, 12:56 PM
 
4,953 posts, read 8,541,059 times
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Quote:
Originally Posted by gladhands View Post
Chicago is the best bargain in the country. It's roughly 80% of the city that New York is, with the median home price of 200K.
80%? LOL stop it. You ever heard the saying "u get what u pay for?"
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Old 03-29-2016, 07:06 PM
 
Location: South Park, San Diego
4,943 posts, read 7,598,673 times
Reputation: 9263
Quote:
Originally Posted by ckhthankgod View Post
I think cities that aren't as popular, but have enough to offer could be good for people looking for what you described. A lot of time middle sized metros will offer this or have the potential to offer this.
I quite agree. Places like Columbus, Cleveland, Cincinnati, Nashville, Providence, or Louisville (it seems so at least, I'm not familiar enough with any of those areas to offer a first hand opinion). As well as a couple of metros in the South (well out of my wheelhouse and comfort zone culture and politics wise) along with St. Louis and Kansas City, with which I have a little first hand knowledge, as well as a few metros I am certainly overlooking.

Probably all have some nice slices of what I describe and seek out in a metro. None offer everything you look for, including my city, but I'm a pretty flexible guy and once I find the best neighborhood in the city, I am at least going to give it a good once over- either for a visit or as a place to ponder as a potential area to live in filed away in the back of my mind.
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Old 03-29-2016, 07:23 PM
 
Location: West of the Rockies
1,112 posts, read 1,871,070 times
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Any city that's major appeal is it's natural wonders and recreation will typically be overpriced for people who are not wealthy retirees or rich IT workers who have the time and money to enjoy it on a regular basis. Seattle was overpriced for me because I didn't have time or money to going skiing, kayaking, etc.

Chicago is underpriced. Despite it's heavy blue collar, industrial overtone, it still has the same social opportunities as the East Coast and brings in worldly people. But housing is a fraction of NYC or DC. Considering it's one of the few cities in the US where you can live without a car conveniently, I'd say it's a good value. The weather sucks, yes, but so does weather in NYC or DC.
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Old 03-30-2016, 10:54 AM
 
Location: Tennessee
23,581 posts, read 17,567,761 times
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If you're looking for a cutting edge urban environment, most of Chicago and probably Minneapolis are probably underpriced. Both cities offer great amenities for their price points and sizes.

Tampa and Jacksonville are underpriced IMO. Jacksonville is cheaper, but smaller and easier to get around, has a strong economy, great weather, and great beaches.

Tampa is scaled up a bit in all ways from Jacksonville - a bit more expensive, with a good bit more to do.

There are plenty of Midwestern metros (KC, Cincinnati, Indy, St. Louis) that are probably a bit underpriced given their size/economy/amenities. Still, I doubt those markets will dramatically appreciate.

I think a lot of the Ohio River valley is underappreciated, but perhaps not underpriced.

Seattle, Portland, Nashville, Austin, and just about all of the trendy cities are overpriced.
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Old 03-30-2016, 01:35 PM
 
3,597 posts, read 1,529,535 times
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Good thread and good observations. I pretty much agree with your list, especially with Minneapolis. I'd add Charlotte metro area to the under-list. You get a lot for your $$. I'd add San Francisco/San Jose area to the over-priced list.
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Old 03-30-2016, 03:13 PM
 
Location: Illinois
989 posts, read 595,199 times
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Chicago is certainly a better bargain than NYC and SF, but it's not as cheap as many people think. A 2br/2ba loft/condo in a trendy neighborhood with 1200 sq feet is setting you back roughly $500,000. Plus, real estate taxes are high, adding to the mortgage. Not to mention the high fees/taxes for other amenities.

But it is light years cheaper than Manhattan and SF. And you get an awesome city for it.

As for the Chicago suburbs, the farther you go out from the city, the cheaper the comparable homes are. You can buy a 2200 sq foot 4br home in Naperville for $350,000. But do that in a much closer suburb and the price goes way up. And yes, the property taxes are very high. But, you do get excellent schools in the suburbs for that money.

This is why urban-minded people live in the suburbs until their kids are done with the schooling. Willing to pay the taxes until they don't need the services. Property taxes in Chicago proper are less than in the suburbs.
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Old 03-30-2016, 03:31 PM
 
7,705 posts, read 4,566,742 times
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Quote:
Originally Posted by Kmanshouse View Post
Chicago is certainly a better bargain than NYC and SF, but it's not as cheap as many people think. A 2br/2ba loft/condo in a trendy neighborhood with 1200 sq feet is setting you back roughly $500,000. Plus, real estate taxes are high, adding to the mortgage. Not to mention the high fees/taxes for other amenities.
https://www.redfin.com/IL/Chicago/13.../home/12640531

https://www.redfin.com/IL/Chicago/22.../home/13351580

https://www.redfin.com/IL/Chicago/21.../mred-09177986

https://www.redfin.com/IL/Chicago/21.../home/22833016


Quote:
As for the Chicago suburbs, the farther you go out from the city, the cheaper the comparable homes are. You can buy a 2200 sq foot 4br home in Naperville for $350,000. But do that in a much closer suburb and the price goes way up. And yes, the property taxes are very high. But, you do get excellent schools in the suburbs for that money.

This is why urban-minded people live in the suburbs until their kids are done with the schooling. Willing to pay the taxes until they don't need the services. Property taxes in Chicago proper are less than in the suburbs.
https://www.redfin.com/IL/Oak-Park/9.../home/13277183

https://www.redfin.com/IL/Oak-Park/9.../home/13277951

https://www.redfin.com/IL/Evanston/3.../home/13626816

https://www.redfin.com/IL/Schaumburg.../home/13728465

This took me all of three minutes. Chicago real estate is much less expensive than you seem to think.
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Old 03-30-2016, 03:33 PM
 
21,193 posts, read 30,379,606 times
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There seems to be some confusion regarding the definition of overpriced. Any city with a thriving economy along with positive job growth and an amenable cost of living for the median wage earner cannot be considered overpriced because it fails an individual metric for affordability. Overpriced would be more applicable to cities lacking a thriving economy with perhaps unsustainable job growth and a cost of living not conducive to average salaries. Orlando is a perfect example of that. It leads in "job growth" albeit through low wage part-time service sector jobs that offer up along with even more traditional openings a median income near the bottom (25K a year), along with rent values of $1200 a month on average. That folks would be what's considered "overpriced".
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