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Old 10-09-2019, 03:25 PM
 
21,977 posts, read 14,672,159 times
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There's always Weehawken!

https://nypost.com/2019/04/10/the-ne...-from-hoboken/

Truth of the matter is as many have already posted;with much of Manhattan and large parts of Brooklyn not very affordable to average households, many are eyeballing across the river to NJ.
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Old 10-09-2019, 04:08 PM
 
Location: NJ
4,355 posts, read 9,508,593 times
Reputation: 3606
Quote:
Originally Posted by jobaba View Post
I remember when I was living in Jersey City, Hoboken was already as expensive as parts of Manhattan.

In the 2000s, it was still possible to get a space of your own in Manhattan while still making a relatively modest salary.
Technically, yes. I worked with a guy in 2006 that had an apartment on First Ave. in Murray Hill. He was only paying around $1700 for a 1BR. The apartment only had 1 window that opened into a courtyard, so there was no fresh air or really any natural light. But hey, it was affordable!
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Old 10-09-2019, 04:10 PM
 
14,835 posts, read 17,894,499 times
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Quote:
Originally Posted by ansky View Post
Technically, yes. I worked with a guy in 2006 that had an apartment on First Ave. in Murray Hill. He was only paying around $1700 for a 1BR. The apartment only had 1 window that opened into a courtyard, so there was no fresh air or really any natural light. But hey, it was affordable!
... and, because it was in NYC, it undoubtedly also had a cockroach infestation. Every Manhattan resident whom I have ever known had to deal with that problem, no matter how pricey their rent was.
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Old 10-10-2019, 09:20 AM
 
Location: Hoboken, NJ
100 posts, read 36,418 times
Reputation: 217
Quote:
Originally Posted by jobaba View Post
Hoboken has been as expensive as to live in Manhattan for quite some time now, a couple of decades at least I would say...
No, it's really not. Manhattan is significantly more expensive, probably at least 30-40% more. Could you find a 700 square foot place for $3K in Manhattan below 100th St.? Of course, but it's not going to be very nice, will be a walkup, may be a sketchy neighborhood or on an avenue, and may have an extremely dates interior.

For the same price in Hoboken, you're basically talking Maxwell Place or one of it's equivalents, with an elevator, doorman, central AC and, if you're lucky, maybe even parking. You also don't have that pesky 4% NYC income tax to pay (the higher NJ property taxes are already baked into said $3K.)

Look, Hoboken is probably the most expensive area of NJ, pound for pound. That said, it's still significantly cheaper on a like-for-like basis vs. Manhattan. Otherwise, everyone would just live in Manhattan. It's probably on par with the western Brooklyn neighborhoods (although cheaper than Brooklyn Heights and Cobble Hill.)

People can take it or leave it. Whether it's overpriced is fully within the eye of the beholder. For us, with both parents working fairly demanding jobs in the city, it's a no-brainer. It's a clean, urban area great for families with young kids, and about as close a commute to Manhattan as you can get without actually being in Manhattan. So it makes a lot of sense for us. But unless you need all of those boxes checked, it probably doesn't make sense and people may wonder what the big deal is. To each their own.
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Old 10-11-2019, 02:07 PM
 
46 posts, read 25,206 times
Reputation: 96
Take a look at Hoboken's rent control ordinance.

https://ecode360.com/15252472

I just took a quick look: it seems that rent increases are capped at 7.5%. Fight the increase.
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Old 10-11-2019, 03:20 PM
 
137 posts, read 93,227 times
Reputation: 147
sorry i have no advice except if it were me i'd start looking for a house now. why wait?
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Old 10-14-2019, 01:24 AM
 
1,177 posts, read 375,126 times
Reputation: 828
This is to be expected
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Old 10-14-2019, 10:24 AM
 
Location: Mid-Atlantic
26,129 posts, read 24,898,664 times
Reputation: 32392
Quote:
Originally Posted by KoNgFooCj View Post
This is to be expected
All things must pass.
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