Philadelphia suburb housing price is very high (Reading, York: real estate, mortgage)

[bluewin888]

At same level as NYC suburb , like NJ Bergen county

Why ?

Property tax maybe a bit lower.

NJ has better schools.

My current house is 4-bed 4-bath with a pool and 15 min to NYC. FOR about $500k

[BPP1999]

Originally Posted by bluewin888

At same level as NYC suburb , like NJ Bergen county

Why ?

Property tax maybe a bit lower.

NJ has better schools.

My current house is 4-bed 4-bath with a pool and 15 min to NYC. FOR about $500k

A few comments:
1 - PA suburb prices are high, but generally not as high as Northern NJ prices.
2 - The state of NJ in general has better schools vs the state of PA. However, you are going to get flack from other posters here by making a blanket statement that the NJ schools are better than the suburban PA schools.
3 - PA has things that NJ generally doesn’t, such as an abundance of colleges and universities, historical sites, museums, and pleasant, walkable suburban towns that drive up home values.

NJ is not the only place that is “allowed” to have high home prices. Come down off your pedestal a few levels.

[Duderino]

The Philadelphia suburbs are still an incredible value, especially compared to the NY Metro/Tri-state area (Personally, I can think of few states more overpriced than NJ, but that's neither here nor there).

And BPP1999 is absolutely correct; it's nonsensical to compare schools on a statewide level. Quality always comes down to each municipality/district and top flight schools are almost always going to be found in wealthy/highly-educated areas, regardless of the state in which they're located.

The quality-of-life/standard-of-living in the Philly 'burbs is easily among the highest in the US among metro areas. If anything, the area is under-valued in real estate terms.

[Leps12]

Originally Posted by BPP1999

A few comments:
3 - PA has things that NJ generally doesn’t, such as an abundance of colleges and universities, historical sites, museums, and pleasant, walkable suburban towns that drive up home values.

Correction: NJ has these things. South Jersey is lacking in them, which is the only fair comparison to Philly burbs in PA.

[bluewin888]

IN NJ Bergen county ( maybe one of the best areas in NJ), single house price is from $250 to $1 million. But $500-700K can buy a nice house , with great schools, 30 min travel to NYC. Average tax $1000 a month.



I am comparing what can people buy in Philly area for $500K.



I know many people move to PA for cheaper living cost.. But how much cheaper?



How much does a pharmacist earn in Philly vs NYC?

[NewtownBucks]

For 600k in Bergen County, you get a dumpy looking 1900 Sq ft 3BR 2.5 bath house on a 9000 sq ft lot in Montclair with $1,000/mo in taxes.

https://www.zillow.com/homedetails/1...82207598_zpid/



For 600k in Montgomery County, you get a 4000+ sq ft 5BR 5 bath mansion in Jenkintown on a 15000 sq ft lot with $800/mo in taxes for a $200 savings on your mortgage payment compared to Montclair.

https://www.zillow.com/homedetails/4.../9857775_zpid/



Both are in comparable school districts (that is to say, both Montclair and Jenkintown schools are very good). Both are less than 30 mins commute to Manhattan/Center City.

So, what is it you were saying again?

[Leps12]

Originally Posted by bluewin888

IN NJ Bergen county ( maybe one of the best areas in NJ), single house price is from $250 to $1 million. But $500-700K can buy a nice house , with great schools, 30 min travel to NYC. Average tax $1000 a month.



I am comparing what can people buy in Philly area for $500K.



I know many people move to PA for cheaper living cost.. But how much cheaper?



How much does a pharmacist earn in Philly vs NYC?

It’s all relative. I don’t think PA Philly suburbs are any more, or less, affordable when you take salaries into account. They are where they should be.

PA burbs come in many different forms. The most desirable and well known are the Main Line towns. They are comparable to your wealthier inner ring, older North Jersey suburbs in Bergen and Essex Counties, which are also comparable to the upscale parts of Westchester County, NY and the northern Nassau County Gold Coast towns on Long Island. Home values in PA will be lower in absolute dollars, but relative to lower salaries vs. NYC metro, it’s pretty much a wash in terms of affordability. But your PA property taxes will be lower.

South Jersey, on the other hand, at least your Tri County Area of Gloucester, Camden, and Burlington, the immediate NJ Philly burb counties, are the exception and are what I would call underpriced. A $700K house in the Bergen County town I live in would probably sell for $275K in the Camden County town I grew up in...and that Camden County town is wealthier and has better schools. We are talking a modest home here. Small size, small lot. 60% lower, and certainly my salary would not be 60% lower were I to get the same job and make that move. But it’s other factors at play that drag down SJ prices to that extent. On the Main Line, this house would probably go for $425K.

[Patmcpsu]

Biggest Metro areas in the USA, in terms of population:
1. New York-Newark, NY-NJ-CT-PA 23,689,255
2. Los Angeles-Long Beach, CA 18,688,022
3. Chicago-Naperville, IL-IN-WI 9,882,634
4. Washington-Baltimore-Arlington, DC-MD-VA-WV-PA 9,665,892
5. San Jose-San Francisco-Oakland, CA 8,751,807
6. Boston-Worcester-Providence, MA-RI-NH-CT 8,176,376
7. Dallas-Fort Worth, TX-OK 7,673,305
8. Philadelphia-Reading-Camden, PA-NJ-DE-MD 7,179,357
9. Houston-The Woodlands, TX 6,972,374

Aside from Texas listings, all of these places have expensive housing, high property taxes, or both. If you want value, I recommend Dallas or Houston.

[BPP1999]

Originally Posted by NewtownBucks

For 600k in Bergen County, you get a dumpy looking 1900 Sq ft 3BR 2.5 bath house on a 9000 sq ft lot in Montclair with $1,000/mo in taxes.

https://www.zillow.com/homedetails/1...82207598_zpid/



For 600k in Montgomery County, you get a 4000+ sq ft 5BR 5 bath mansion in Jenkintown on a 15000 sq ft lot with $800/mo in taxes for a $200 savings on your mortgage payment compared to Montclair.

https://www.zillow.com/homedetails/4.../9857775_zpid/



Both are in comparable school districts (that is to say, both Montclair and Jenkintown schools are very good). Both are less than 30 mins commute to Manhattan/Center City.

So, what is it you were saying again?

Decent example but the Jenkintown home is somewhat cherry-picked. That home would be significantly more in many other parts of suburban PA. Jenkintown doesn't seem to have high home prices. Most homes of that quality/caliber in Montgomery County PA will cost more than $600k. That is a really nice house.

Overall, though, you are right. The PA homes will cost less, and property taxes will be less. That being said, NYC area salaries are higher than Philadelphia area salaries, as other posters have mentioned.

[banjozac]

Y’all always forget about Haddonfield, Collingswood, and Westmont in these conversations. South Jersey has real, walkable communities with excellent public transportation options and relatively affordable housing.