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Does this mean Houston is more expensive than DC???? Hallelujuh!!
The O&G Engineering salaries in Houston are very high, which also drives up all Engineering salaries in the area, including NASA private contractors, else they would leave for O&G jobs (during boom times). Federal salaries (including NASA) have higher locality pay to better compete for workers, as even many NASA private contractors have higher salaries than their NASA bosses. Not uncommon for NASA managers to leave their federal jobs to go to work for bigger bucks as contractors.
Outside of Science and Engineering jobs, most Houston salaries tend to be average or lower than other cities. Some people joke that the higher locality pay in Houston is really "hazard pay" for living in an undesirable city and climate. NASA is located in a high-risk area for hurricanes, flooding, and storm surge, which the Center and nearby neighborhoods have experienced multiple times since it was built.
Last edited by RocketSci; 09-24-2021 at 08:23 PM..
Sure but places in the sunbelt are getting 200k appreciation a year at least.
True, there is a major price to pay for not having to shovel snow. That's why the south, southwest and western states will continue to appreciate at quite a better rate. Much more desirable regions for the majority of those who don't want to deal with the weather. True, there are some that prefer to live in four seasons and snow, but then again, I used to know someone whose dog liked to eat their own crap. To each their own.
The O&G Engineering salaries in Houston are very high, which also drives up all Engineering salaries in the area, including NASA private contractors, else they would leave for O&G jobs (during boom times). Federal salaries (including NASA) have higher locality pay to better compete for workers, as even many NASA private contractors have higher salaries than their NASA bosses. Not uncommon for NASA managers to leave their federal jobs to go to work for bigger bucks as contractors.
Outside of Science and Engineering jobs, most Houston salaries tend to be average or lower than other cities. Some people joke that the higher locality pay in Houston is really "hazard pay" for living in an undesirable city and climate. NASA is located in a high-risk area for hurricanes, flooding, and storm surge, which the Center and nearby neighborhoods have experienced multiple times since it was built.
That was my other angle. You’re gonna have to pay me more to live in Houston. Jk
That's true, but the alternative argument is that a $54k home in Pittsburgh can be paid off in 2 years with $2,500 payments.
Then you can spend the next 30+ years of your career not worrying about housing costs and can just shove that $2,500 every month into the stock market. That's $30k a year invested, $300k the first decade alone. And with the historical doubling of the stock market every 7 years, your $300k becomes nearly $900k by retirement.
I can definitely see the allure of cheap housing, though I do agree that high housing costs alone isn't as bad as people think it is (you are paying yourself rent, after all).
Yeah, I was also thinking about the pro of being able to pay your house off and diverting the money from that payment to some form of savings/investment. Then, you may have to consider the pay aspect, which this list illustrates on an average annual wage level: https://www.bls.gov/oes/current/oessrcma.htm
Yeah cheaply made 1500sqft townhomes in urban sprawl communities are going for 350k in the Triangle. Unless you have a fantastic job there, no reason to actually live in the Triangle.
Yeah cheaply made 1500sqft townhomes in urban sprawl communities are going for 350k in the Triangle. Unless you have a fantastic job there, no reason to actually live in the Triangle.
To be clear; I was saying that it won't be an "under 3" ratio in the referenced chart for much longer; not that it isn't a desirable area to live.
As much as rankings/lists/metrics are way over-used on this site; the Triangle stacks up very favorably on many quality of life metrics and is certainly attractive enough to make it one of the fastest growing areas of the country.
To be clear; I was saying that it won't be an "under 3" ratio in the referenced chart for much longer; not that it isn't a desirable area to live.
As much as rankings/lists/metrics are way over-used on this site; the Triangle stacks up very favorably on many quality of life metrics and is certainly attractive enough to make it one of the fastest growing areas of the country.
It does. But again its really just serves one purpose. The Cary’s the Glenwoods’, the Apex, the Brier Creeks the North Raleigh all are urban sprawl SFH tract homes dependent on the car. You can only get one lifestyle here unlike the other three metros. (Outside a strip in Chapel Hill and part of downtown Raleigh). Im a fan of Raleigh but if I wanted suburbs I would prefer to live in an Atlanta or Charleston with good urbanity to change things up.
Still a great area. High QOL. Good incomes. Low poverty and crime rate. But i think its pretty overpriced for what it actually is. And being so far away from beaches, mountains and skiing.
I still like it but my point is, a tad overpriced. But a lot of people like that so it can be a great value for someone else.
It does. But again its really just serves one purpose. The Cary’s the Glenwoods’, the Apex, the Brier Creeks the North Raleigh all are urban sprawl SFH tract homes dependent on the car. You can only get one lifestyle here unlike the other three metros. (Outside a strip in Chapel Hill and part of downtown Raleigh). Im a fan of Raleigh but if I wanted suburbs I would prefer to live in an Atlanta or Charleston with good urbanity to change things up.
Still a great area. High QOL. Good incomes. Low poverty and crime rate. But i think its pretty overpriced for what it actually is. And being so far away from beaches, mountains and skiing.
I still like it but my point is, a tad overpriced. But a lot of people like that so it can be a great value for someone else.
Best not to conflate one's own preferences/opinions with those of market demand and value.
There are plenty of places that while I wouldn't want to live there personally; I can understand and respect why the locale demands a cost-premium.
I personally would have no desire to live in Charlestown in Boston where my stepdad is from (which despite being very "urban" and recently-trendy; is still also probably one of the most provincial places I've ever been); but the RE values there speak for themselves to how much market demand there is there.
Also FWIW I'd be willing to wager that the typical resident of Cary or Apex spends more time in "urban" settings in Raleigh and Durham than the typical resident of Alpharetta or Johns Creek, GA spends inside the perimeter Atlanta....and residents of both of those "boomburb" areas live very similar day-to-day lives.
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