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Correct, the lowest rental price in the Bronx is equal to the amount of Section 8 voucher. Landlords adjust their rents to either the exact amount of Section 8 if they have Section 8 tenants (because why would they charge the city less than the amount of the voucher?), or somewhat above Section 8 voucher (if they want to avoid Section 8 tenants, who won't pay more than the voucher). Section 8 vouchers are the sole determinant of rents in low-income areas of the Bronx, and tge sole reason why the Bronx has rents which are high relative to the value of the property and neighborhood, ie, the Bronx is a good deal only if you have a voucher (because in that case the NYC taxpayers pay your rent so you don't care how high the rent is), or if you buy your own place (because the properfy is cheap). For people who pay their own rent, it is pretty bad, though rents are still lower than elsewhere in NYC (but not too much lower).
$1700 for one a bedroom can be had in the other boroughs, including Manhattan, and not just Upper Manhattan either. I know a realtor who works with landlords in the City, and rental prices have dropped considerably.
Here's a one bedroom for that price on the Upper West Side:
$1700 for one a bedroom can be had in the other boroughs, including Manhattan, and not just Upper Manhattan either. I know a realtor who works with landlords in the City, and rental prices have dropped considerably.
Here's a one bedroom for that price on the Upper West Side:
That looks impressively small even by my criteria :-). It looks like a studio with a sleeping alcove and kitchenette, and there is no way the size is more than 300 sq ft, likely less. The kid sleeping in that crib at the foot of the bed is going to have some interesting childhood .
That looks impressively small even by my criteria :-). It looks like a studio with a sleeping alcove and kitchenette, and there is no way the size is more than 300 sq ft, likely less. The kid sleeping in that crib at the foot of the bed is going to have some interesting childhood .
So people pick the better neighborhood, some people pick more space. But I mean you have a place in a not so great area in the Bronx so who are you to judge. Say what you will about your great deal in Parkchester but you don't actually live there full time and have no clue about the area.
$1700 for one a bedroom can be had in the other boroughs, including Manhattan, and not just Upper Manhattan either. I know a realtor who works with landlords in the City, and rental prices have dropped considerably.
Here's a one bedroom for that price on the Upper West Side:
You can't go by the price of the place now versus the Grand Concourse area prices increasing throughout the last few years.
That place on 78th street probably was more a few years ago.
Yup looked on Street Easy that place was rented in 2014 for $2100 and again in 2015 for $2100. What your seeing now is the Covid price.
Last edited by 90sSitcom; 10-12-2020 at 06:32 PM..
You can't go by the price of the place now versus the Grand Concourse area prices increasing throughout the last few years.
That place on 78th street probable was more a few years ago.
Yup looked on Street Easy that place was rented in 2014 for $2100 and again in 2015 for $2100. What your seeing now is the Covid price.
I was going to point that out too. In the BX its $1700 before covid for a larger place rather than that small apartment where the bed is jammed against the wall. No one wants to get a upper west side apartment for a covid price then as soon as covid ends the price gets jacked up.
I would also add this, developers target an area because they have an agenda. Brooklyn was on an agenda, and they did it whether people liked it or not.
Also they won’t lower prices, they rather have a place (even commercial space) sit empty, because lowering the rent creates a domino effect on nearby properties.
Eventually people accept the rents and prices as normal, and life goes on.
People have, do and keep protesting gentrification all they want, it hasn’t changed a thing.
You can't go by the price of the place now versus the Grand Concourse area prices increasing throughout the last few years.
That place on 78th street probably was more a few years ago.
Yup looked on Street Easy that place was rented in 2014 for $2100 and again in 2015 for $2100. What your seeing now is the Covid price.
Of course it was more, but that's not the point. COVID or not, you can get a place in a prime area of the City for the same prices in the South Bronx.
Of course it was more, but that's not the point. COVID or not, you can get a place in a prime area of the City.
Of course its the point!
You brought up being able to get an apartment in Manhattan and the Bronx. IN 2016, the price for a big one bedroom in the BX was $1700 vs for a small one bedroom in Manhattan it was $2100. That's a $400 difference a month, $4,800 a year. That doesn't compare. Saving just about 5K a year is a lot of money.
You brought up being able to get an apartment in Manhattan and the Bronx. IN 2016, the price for a big one bedroom in the BX was $1700 vs for a small one bedroom in Manhattan it was $2100. That's a $400 difference a month, $4,800 a year. That doesn't compare. Saving just about 5K a year is a lot of money.
I brought it up because elnrgby said that rental prices in the Bronx were cheaper. Regardless of the reason, prices are not that different across the boroughs NOW. That's the point. In other words, if someone wants to be closer to the action, they are jumping on it and renting in areas like the Upper West Side. Who cares what will happen down the road when they are renting? They can move when prices go back up. For the here and now, they have cheap rent and landlords are giving all sorts of concessions, so yes, prices will eventually go up maybe a few years from now, but for now, that is not the case. I only gave one example, but I know realtors who see what's going on. People are moving OUT of Manhattan, which means opportunities for others for much cheaper rents in prime areas of the City, so it's nuts to pay $1700 in the South Bronx when you can get something at the same price or a little more in prime areas of Manhattan or elsewhere.
What is weird is the rents are not really going down in the Bronx, and they should be, and the reason they likely aren't is because of all of the people on Section 8 in the poorer areas like the South Bronx. It just shows how artificially inflated the rents are there, especially when compared to nice areas like Riverdale, Country Club, Morris Park, etc. There are plenty of places in the South Bronx now that are more than that and are tiny studios, so more space in the Bronx is not a given.
So people pick the better neighborhood, some people pick more space. But I mean you have a place in a not so great area in the Bronx so who are you to judge. Say what you will about your great deal in Parkchester but you don't actually live there full time and have no clue about the area.
Since I am not a renter, and do not live full time in NYC, I picked a crashpad in NYC primarily based on very low purchase price combined with good security. I personally am not interested either in space (I only sleep at that condo when I visit NYC, nothing else - certainly am not raising any kids there) or in any special amenities of the neighborhood (since I spend all day in Manhattan when I am in NYC anyway). I happen to also greatly like the architecture of Parkchester, but the primary reason for keeping that small condo is the convenient access to Manhattan and security, that I could buy for very little money. If I ever decide to actually live in NYC, I'll get rid of Parkchester and buy in Manhattan. But I am not paying a Manhattan price to buy a crashpad where I spend less than three months per year. I do have a pretty good clue regarding what Parkchester is, and I don't need to live there full time to have a pretty good clue about it.
Re that UWS micro-apartment, I do judge it as highly inappropriate to have that crib at the foot of the bed, unless the parent(s) who sleep in the bed never intend to have sex again :-).
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