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Old 08-17-2010, 10:56 PM
 
5,817 posts, read 15,247,372 times
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Um, this thread is over three years old. I suppose these latest posts might add some thoughts that could be useful to someone who happens to come lurking around with questions about this subject, but the OP is most likely no longer checking back for responses.
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Old 08-28-2010, 03:18 AM
 
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They say Boston is the most expensive city for apartments.... even more than New York on average..... because in New York City you factor all the borroughs Queens etc. ... and Boston's average is much more expensive, I believe around $1700 for a 1 bedroom.

However, I know if you count Manhattan by itself it is MUCH more expensive than Boston
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Old 09-18-2010, 07:12 PM
 
Location: NYC/Boston/Fairfield CT
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Interesting to see this thread. I had a pretty good job opportunity down in New York earlier this year, but after a lot of thought and discussion, I decided against it even though the salary was higher. I'll share my reasons why, but before that I want to give some background about me. I'm in my 20s, hold a masters, and work in Finance. While it's true that I am a New Englander at heart, I am much more motivated by career/investment opportunities. Based on my reason:

Rents: Boston has lower rents than NYC. More importantly, you get a better value in Boston. Having seen NYC apartments, it looks like the spaces tend to be smaller, older, or have awkward settings compared to Boston - mind you I am keeping in mind the rent being the same.

Taxes: Believe it or not, taxes are higher in NYC. From the city tax on personal income to sales tax (8.8%).

RMV vs. DMV: This is where Boston loses. The excise tax on automobiles does not exist. Although insurance rates are slightly lower in Mass, NYC doesn't have the ridiculous sticker requirement which means that you can park wherever you please. Of course actually getting that parking spot is tough in NYC, but when you do get it, it's yours even with MA plates.

Other costs: Seem similar and there is plenty of overlap with chains like Walgreens, CVS, Dunkins etc. Taxis are definitely cheaper in NYC but taking the Bus/Subway is more expensive. The subway stations in NYC (with a few exceptions like Grand Central Station) are in poor shape and extremely hotter/colder than above ground (depending on the season).

In Finance, to me, NYC is like Hollywood for aspiring actors, however I chose to develop my career right here in the hub.
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Old 09-18-2010, 09:50 PM
 
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New York is expensive or cheap depend on wich borough you want to live sometimes people think that New York is just Manhattan but no. If you want a cheap but not ugly place i recommend Staten Island. If you have a lot of money you shoud buy an apartament in midtown Manhattan, If you LOVEEE Manhattan but you cant afford for a nice place you should live in uptown Manhattan but you get apparted of the cool things, if you want the middle of those 2 boroughs i recomend Brooklyn. NEVER Think of live in bronx theres a lot of latins in Bronx im not being racist but is the truth they are not gentle and in all the parts they want you to talk spañish its really really unsafe and ugly but cheap anyways i recommend Staten Island i have lived in Manhattan and its great
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Old 09-18-2010, 10:12 PM
 
Location: NYC/Boston/Fairfield CT
1,587 posts, read 1,643,551 times
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Quote:
Originally Posted by Uresti546 View Post
New York is expensive or cheap depend on wich borough you want to live sometimes people think that New York is just Manhattan but no. If you want a cheap but not ugly place i recommend Staten Island. If you have a lot of money you shoud buy an apartament in midtown Manhattan, If you LOVEEE Manhattan but you cant afford for a nice place you should live in uptown Manhattan but you get apparted of the cool things, if you want the middle of those 2 boroughs i recomend Brooklyn. NEVER Think of live in bronx theres a lot of latins in Bronx im not being racist but is the truth they are not gentle and in all the parts they want you to talk spañish its really really unsafe and ugly but cheap anyways i recommend Staten Island i have lived in Manhattan and its great
I have nothing against Staten Island, but I was referring to a comparison of Manhattan vs. Neighborhoods in the core Downtown Boston (Beacon Hill, Back Bay etc). It's true that Staten Island is a better value/option than Manhattan but how much cheaper is it, rents-wise? Also if you account for 1+ hour of commute time (including the ferry) to Manhattan (where many jobs are located) how much more money/time are you spending?

Actually looked at Hoboken, NJ as a better option, rents were a little lower than Manhattan but still more expensive than Boston.

Just so folks know, I don't buy into that Boston-NYC rivalry nonsense, New York is a terrific place to be, unfortunately it'll cost you and you will have to settle for less.
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Old 09-20-2010, 09:42 AM
 
Location: Newton, Mass.
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I lived in NYC for many years and a lot of this rings true. I'm a New Englander at heart too, but I have enough family roots in NYC to not be a total outsider there. Ultimately, as I started to think about long-term settling down, NYC made very little economic sense to me.

There are many places that are, across the board, far cheaper than the Boston area. NYC is definitely not one of them.

Quote:
Originally Posted by New Englander View Post
Rents: Boston has lower rents than NYC. More importantly, you get a better value in Boston. Having seen NYC apartments, it looks like the spaces tend to be smaller, older, or have awkward settings compared to Boston - mind you I am keeping in mind the rent being the same.
Per square foot, it's not even close. Boston is much cheaper. And in Boston it's possible to live a little bit outside the heart of the city, still have a short commute, and have a yard and a very reasonable rent. In NYC the truly urban city, with scarce parking and scarce greenery, goes on for many miles once you leave Manhattan.

If you move to the suburbs, as expensive as some towns near Boston can be, there's still no comparison. You can have a bigger and nicer home here, for half the commute and with far lower property taxes. There are tiny houses in the NYC suburbs with property taxes over $15K a year. In most towns near Boston, you'd not pay that on a million dollar house.

Quote:
Originally Posted by New Englander View Post
Taxes: Believe it or not, taxes are higher in NYC. From the city tax on personal income to sales tax (8.8%).
Again, not even close. When I left NYC, my combined city and state income tax was 10.5%, just about double the MA state income tax rate of 5.3%. Since 2009 they've added even higher brackets for higher incomes.

Sales tax varies by county in New York State, but in and around the city it is indeed near 9 percent. And the vagaries of sales tax often lead you to pay more tax for comparable items. For example, in MA there's no sales tax on clothing items under $175, and for more expensive items you pay tax only on the amount over $175. In New York, there's no tax on items under $110, but full tax if the item costs more than that.

So in Mass. a $300 clothing item would have tax of $7.81 (6.25% of the $125 in excess of the $175 exemption). In NYC, the same item would have $26.63 in taxes (8.875% of the whole price).


Quote:
Originally Posted by New Englander View Post
RMV vs. DMV: This is where Boston loses. The excise tax on automobiles does not exist. Although insurance rates are slightly lower in Mass, NYC doesn't have the ridiculous sticker requirement which means that you can park wherever you please. Of course actually getting that parking spot is tough in NYC, but when you do get it, it's yours even with MA plates.
I think this one is a closer call. NYC insurance is not just higher, it's much higher. I have a perfect record and don't drive to work, I saved $80 a month on insurance moving back to MA. That was moving from an NYC boro to the suburbs here, which accounts for some of the savings, but again, it's possible to live in closer-in suburbs here and still be close to the city.

It's true that (with some very minor exceptions) there aren't resident stickers in NYC, which can be nice. Depending on where you go in NYC, parking can be just about impossible or fairly easy. But if you do end up in a garage it's often more expensive on the weekend. In Boston, it's possible to park in a garage all day on the weekend for $10. During the week you can park for about the same near Fan Pier or at an outlying T station. Much more expensive in NYC.

Equally important is where you park when you're home. Being just outside Boston's urban core, I park in my driveway. Something I never had in NYC, even in the outer boros. So after years of having no car in NYC (which is entirely doable but makes day trips much tougher), once I got one I had to drive around for 45 minutes looking for parking every time I drove. This was true even in an outer boro area an hour from Midtown Manhattan by subway, in part because there were no resident stickers to keep others out of the spots near my home. Later I paid for a monthly spot. That was $100 a month in Queens, but would have been several hundred if I'd lived in Manhattan.

So while it's true there's no car excise tax in NYC, that hardly makes up for the savings. My car's 5 years old, the magic number for the excise tax, so my tax this year is something like $45. Given the cheaper insurance, cheaper parking and the fact that each gallon of gas is 25 cents cheaper, the $45 doesn't seem like much. Even if you have a newer and more expensive car, the tax is only more than a couple of hundred bucks in the first year or two. I paid $1200 just to park at home in my last year in NYC, and everyone thought that was the greatest deal ever.

And don't get me started on the NYC traffic. 2 AM, 9 AM on Sunday, whenever and wherever. Every time I left for the weekend, there was awful traffic getting out of NYC.
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Old 09-20-2010, 06:06 PM
 
Location: New York City/San Diego, CA
681 posts, read 1,073,440 times
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Quote:
Originally Posted by holden125 View Post
In New York, there's no tax on items under $110, but full tax if the item costs more than that. .
This clothing tax exemption in New York is being eliminated in October.
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Old 09-22-2010, 08:33 AM
 
Location: Newton, Mass.
2,954 posts, read 11,884,813 times
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Quote:
Originally Posted by sfosyd View Post
This clothing tax exemption in New York is being eliminated in October.
I remember there was no exemption in NY in the old days. My grandmother used to buy a lot of clothes in New Jersey because there was no tax. You had to buy a lot of clothing to make up for the tolls and gas, though.

Tolls. Another way NYC really gets you.
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Old 09-22-2010, 09:16 AM
 
199 posts, read 912,527 times
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The electric bills must be triple in NYC compared to MA.

I just received my ConEdison bill for an empty, 900 sq foot, top floor, two bedroom (Jr 4) co-op in Van Cortlandt Village (in greater Riverdale) - $159.17. That's over $300 for the last two months for an empty, two-bedroom co-op. ConEdison is estimating the electric bill based on last year's costs. Pirates. Absolute pirates.

In MA, we're paying 1/3-1/4 of the NYC electric bill.

Still, I miss the bathrooms being open in the NYC playgrounds after Labor Day.

BUT - I don't know miss for a second the state of the public school education system in NYC. NYC public schools are in a complete mess, to say the least. It's a major reason why families leave the city once their children reach kindergarten and grade school.
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Old 09-22-2010, 09:33 AM
 
Location: NYC/Boston/Fairfield CT
1,587 posts, read 1,643,551 times
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Quote:
Originally Posted by sfosyd View Post
This clothing tax exemption in New York is being eliminated in October.
Sorry but removing the clothing tax exemption means very little when the MTA is making noise about increasing subway/bus fares. I mean that is absolutely ridiculous considering how much New Yorkers rely on public transit.

Also I might add, Bostonians have the option of going up to NH to do shopping (clothing or otherwise) tax free.


Holden: Glad you agree. I just don't see the value of NYC. Once I reviewed my salary offer, and did a bit of research, it was not worth the hassle of moving. NYC is best enjoyed in small increments and I will continue to visit it over weekends and holidays.
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