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I guess I'm kind of lost here. Why are you comparing a $400k southern home with a $200k Rochester home?
To more clearly illustrate what higher home prices with lower taxes (the South) vs lower home prices with higher taxes (Rochester) looks like. Something that is often times discussed ambiguously, which was hit on a few pages back.
Take a look at the lists and come back with what you find out.
Bump it, here are the numbers for Rochester: $566 without a mortgage and $1357 with a mortgage. For your promised land metro, Raleigh-Cary: $436 without a mortgage and $1514 with a mortgage. So, the without a mortgage gap is $130 less in Raleigh-Cary, but the with a mortgage gap is $157 less in Rochester. Meaning, the mortgage stage has a greater gap, with Rochester being lower, than the post mortgage gap which is lower in Raleigh-Cary. Again, this is US Census information for the time period and for the respective metro/micro areas.
Another area that comes up and is familiar with a couple of posters on here, Richmond VA, it is $443 without a mortgage and $1604 with a mortgage.
I have a sibling in this area, Virginia Beach-Norfolk, where the without mortgage median cost is $508 and with a mortgage it is $1735.
Another area that comes up, Charleston-North Charleston, it is $427 without a mortgage and $1502 with a mortgage.
For Orlando, it is $467 without a mortgage and $1629 with a mortgage. Tampa is $457 without a mortgage and $1529 with a mortgage.
Dallas-Fort Worth, it is $551 without a mortgage and $1607 with a mortgage. Houston it is $533 without a mortgage and $1592 with a mortgage.
Atlanta it is $445 without a mortgage and $1592 with a mortgage.
A couple of Southern areas that are more favorable in this regard are: Nashville where it is $405 without a mortgage and $1396 with a mortgage. Charlotte is $394 without a mortgage and $1420 with a mortgage.
Some others: New Orleans is $406 without a mortgage and $1470 with a mortgage. North Port-Bradenton-Saratota is $524 without a mortgage and $1606 with a mortgage. Port Saint Lucie(metro Fort Pierce is in) it is $502 without a mortgage and $1567 with a mortgage. Jacksonville is $443 without a mortgage and $1518 with a mortgage.
Last edited by ckhthankgod; 01-02-2015 at 09:21 AM..
To more clearly illustrate what higher home prices with lower taxes (the South) vs lower home prices with higher taxes (Rochester) looks like. Something that is often times discussed ambiguously, which was hit on a few pages back.
Considering the fact that you don't need to spend $400k in the south to get a home similar to a $200k example in Rochester, that is one of the most irrelevant and useless arguments ever. Who the hell brought that one up?
Considering the fact that you don't need to spend $400k in the south to get a home similar to a $200k example in Rochester, that is one of the most irrelevant and useless arguments ever. Who the hell brought that one up?
Prices vary everywhere, so no, there is no 2-to-1 ratio on house prices with Rochester...everywhere. However, prices do trend higher in many places in the south. And I personally experienced nearly double housing prices in Richmond VA for comparable areas.
I've seen this argument in many threads in this forum, as well as my own family and friends when talking housing prices and taxes. JME.
Considering the fact that you don't need to spend $400k in the south to get a home similar to a $200k example in Rochester, that is one of the most irrelevant and useless arguments ever. Who the hell brought that one up?
Prices vary everywhere, so no, there is no 2-to-1 ratio on house prices with Rochester...everywhere. However, prices do trend higher in many places in the south. And I personally experienced nearly double housing prices in Richmond VA for comparable areas.
I've seen this argument in many threads in this forum, as well as my own family and friends when talking housing prices and taxes. JME.
Just look at the information in my post above. I'll bring more information out.
Just look at the information in my post above. I'll bring more information out.
That's good information. And I think that there's sway both ways, especially toward prices being higher than what's stated. For example:
Rochester NY: $1,357
Richmond VA: $1,604
I think this is off from personal experience. Finding areas that are comparable are subjective and IMO are over simplified by these types of numbers. I lived in Bellevue in Richmond city for six years. Richmond has larger city limits, so an area like Brighton would be similar in distance from downtown as Bellevue which is a city neighborhood. Here are a few houses in Brighton:
^^^This house is a bit pricier, but has a lot of sqft-age. The below home looks like a nicer place, but is closer to a tough area (Chamberlayne). The $/sqft is still quite a bit higher:
This is just Richmond, so very very narrow perspective. My point being that it's very hard to have a tangible discussion around COL with Rochester vs. "the south". Your list does a nice job of showing where median home prices fall, but I think it's more dramatic of a picture depending on so many factors.
Considering the fact that you don't need to spend $400k in the south to get a home similar to a $200k example in Rochester, that is one of the most irrelevant and useless arguments ever. Who the hell brought that one up?
I've already demonstrated in my examples when comparing location to location and home quality to home quality, the cost of a home is less in Rochester. The lesser priced homes in the south are cookie cutter cheaply built homes. Which you can still buy the same homes for even less in comparably desirable (or less desirable) locations in Rochester.
Just look at the information in my post above. I'll bring more information out.
Exactly ckhthankgod.
Quote:
Originally Posted by AJNEOA
That's good information. And I think that there's sway both ways, especially toward prices being higher than what's stated. For example:
Rochester NY: $1,357
Richmond VA: $1,604
I think this is off from personal experience. Finding areas that are comparable are subjective and IMO are over simplified by these types of numbers. I lived in Bellevue in Richmond city for six years. Richmond has larger city limits, so an area like Brighton would be similar in distance from downtown as Bellevue which is a city neighborhood. Here are a few houses in Brighton:
^^^This house is a bit pricier, but has a lot of sqft-age. The below home looks like a nicer place, but is closer to a tough area (Chamberlayne). The $/sqft is still quite a bit higher:
This is just Richmond, so very very narrow perspective. My point being that it's very hard to have a tangible discussion around COL with Rochester vs. "the south". Your list does a nice job of showing where median home prices fall, but I think it's more dramatic of a picture depending on so many factors.
Thanks for sharing CK.
These are good examples AJ. It's in the details. You can always find a compareable price in anything, but it's the details of when something is actually compareable. So in the case of Northern vs. Southern homes you need to look at more than just price such as your examples.
That's good information. And I think that there's sway both ways, especially toward prices being higher than what's stated. For example:
Rochester NY: $1,357
Richmond VA: $1,604
I think this is off from personal experience. Finding areas that are comparable are subjective and IMO are over simplified by these types of numbers. I lived in Bellevue in Richmond city for six years. Richmond has larger city limits, so an area like Brighton would be similar in distance from downtown as Bellevue which is a city neighborhood. Here are a few houses in Brighton:
^^^This house is a bit pricier, but has a lot of sqft-age. The below home looks like a nicer place, but is closer to a tough area (Chamberlayne). The $/sqft is still quite a bit higher:
This is just Richmond, so very very narrow perspective. My point being that it's very hard to have a tangible discussion around COL with Rochester vs. "the south". Your list does a nice job of showing where median home prices fall, but I think it's more dramatic of a picture depending on so many factors.
Thanks for sharing CK.
Yes, I totally agree. The numbers only serve as a barometer and it helps to bring out similar examples to compare. I try to look at things like home size, similar type of area in the metro, like your examples did. Things also depend pay/income, location, personal aspects like choice, credit, what a person qualifies for and preferences, among other things.
Last edited by ckhthankgod; 01-02-2015 at 10:46 AM..
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