Queens remains... (New York, York, Belmont: middle-class, real estate, cheap apartment)
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When considering home affordability in the five boroughs, Queens comes out on top for middle-class New Yorkers, according to a new report.
Analysts at real estate site StreetEasy determined that the cost of renting or owning a home in the “World’s Borough” is closest to the citywide medians of any borough, “making good on Queens’ reputation as the place of choice for middle-class New Yorkers.”
Renters in the Bronx face the highest cost-to-income burden in the city, while homeowners in Brooklyn face the greatest strain.
Even so, substantial number of Queens residents perceive their neighborhood to be overly expensive...29 percent of Queens residents believe their neighborhood is unaffordable, while 18 percent believe their house or apartment to be unaffordable — the highest percentage in the five boroughs.
Still, Queens residents are more willing to recommend that a friend move to their own neighborhood than to any other New York City neighborhood and 70 percent of residents surveyed said they had no plans to move.
What I see is that it's easier to stay put than it is to move, especially on the expense side. If you're paying $600/mo maint with no mortgage and the rent next to you is $2000/mo, how could you recommend that?
In general, South Brooklyn is a better suggestion still when someone asks me where to find a cheap apartment near a subway. Bronx too depending. Nothing's affordable anymore though.
What I see is that it's easier to stay put than it is to move, especially on the expense side. If you're paying $600/mo maint with no mortgage and the rent next to you is $2000/mo, how could you recommend that?
In general, South Brooklyn is a better suggestion still when someone asks me where to find a cheap apartment near a subway. Bronx too depending. Nothing's affordable anymore though.
It's crazy to me how expensive places like University Heights and Belmont have gotten with those really low HHIs.
Queens is very affordable when you have family which allows you to share resources. It's not cheap for a recent transplant. Why would I pay $2500 for a 2 bed in Jackson Heights when I can rent for $1500 from a family friend.
Queens is very affordable when you have family which allows you to share resources. It's not cheap for a recent transplant. Why would I pay $2500 for a 2 bed in Jackson Heights when I can rent for $1500 from a family friend.
Certainly no one would pay $2500 for rent when they can pay $1500 from a family friend.
So yes, I agree the article is a little silly when they are asking people to define if they think their neighborhood is affordable. Most people are stuck in their little bubbles and have no clue that new rentals for 2 bedrooms might be $2500/mo, especially if they've been in their place for a long time -- either paying rent stabilized prices, or owning and only paying maintenance, or living with family who own, etc.
Certainly no one would pay $2500 for rent when they can pay $1500 from a family friend.
So yes, I agree the article is a little silly when they are asking people to define if they think their neighborhood is affordable. Most people are stuck in their little bubbles and have no clue that new rentals for 2 bedrooms might be $2500/mo, especially if they've been in their place for a long time -- either paying rent stabilized prices, or owning and only paying maintenance, or living with family who own, etc.
OP is really good at finding bad articles!
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