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My wife and I are looking to move to the area with our 2 yo at the end of the month (4/16). At the moment renting is our only option until we save enough for a down payment. I am seeing a ridiculous disparity between monthly rental and mortgage rates. HV seems like a place where it really makes sense to own rather than rent, moreso than most places I have encountered. So for those who own: I think I can understand the math a bit more clearly. But these rental prices for anything close to a train....yikes. I mean $1200 for a 1 br is fine, but considering the commuting cost combined with car payments, it just doesn't make sense. Even if I wanted to risk downtown Poughkeepsie at $1000 for a 1br 10 walk from the train, the $506 Metro North pass kind of hurts. (Sidebar: IS downtown Poughkeepsie still dicey?)
I am curious as to how Hudson Valley residents with 1+ kids and a household income of less than $100,000 and car payments (because not having a car is not an option) would be able to live in these lovely areas without sacrificing many hours of daylight to the rails.
Are you all commuting NYC? Are you riding 90+ minutes every weekday on Metro North from Poughkeepsie on down? What about points north of Poughkeepsie / Highland? That's pretty far, right? It seems impossible or at least very undesirable to make the regular trip to the city from places like New Paltz, Hyde Park or further north...
So that makes me wonder: where? Where are the jobs for those who do not work in Manhattan? Marist, SUNY, Vassar, etc? Kingston? Is Newburgh shouldering much of the industry? Is there a hidden manufacturing base I haven't heard about?
Sorry if I sound glib. I'm just kind or perplexed by this wonderful and seemingly inaccessible area of NY. I would love to make it work. And I am willing to sweat the commute to the city while working toward establishing a family and life in HV. i just want to know if there is something I am missing. Other than lots of $$$
I think that many may actually work in NYC, as the former Poughkeepsie-Newburgh-Middletown metro is now officially a part of the NYC metro area. This is done based off of a percentage in regards to commuter interchange.
I know many people work in White Plains. And lots of people take Metro North to the city.
I commuted to the city for several years, then changed jobs (also professions, and went from f/t to p/t which I was fortunate to be able to do) and now I work locally. My husband commutes by car to his job at a local college.
They teach, work in healthcare, support staff in higher education, telecommute for large companies, work at UPS/fedex. Albany is commutable from north Dutchess and Ulster too.
A common scenario is for one parent to work a 40-60K job and the other to string together 2 part time gigs in retail or hospitality or something.
It does seem that lot of younger families aren't able to afford the cost of home ownership here. It's dreadfully expensive. From my experience a good deal of people DO commute to the city daily.
I personally wouldn't live in Poughkeepsie, but I'm partial to the more scenic and cleaner areas in other parts of the HV. Perhaps take a look at Beacon. It's a happening little spot. The train is very accessible from there.
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OP assuming that you work is somewhere in Manhattan (you didn't say) have you considered North NJ? Plenty of nice older towns and a commute that doesn't feel like a cross country move every day.
They teach, work in healthcare, support staff in higher education, telecommute for large companies, work at UPS/fedex. Albany is commutable from north Dutchess and Ulster too.
A common scenario is for one parent to work a 40-60K job and the other to string together 2 part time gigs in retail or hospitality or something.
Thanks, hvexpatinct. Concrete figures and real scenarios. This makes sense.
It does seem that lot of younger families aren't able to afford the cost of home ownership here. It's dreadfully expensive. From my experience a good deal of people DO commute to the city daily.
I personally wouldn't live in Poughkeepsie, but I'm partial to the more scenic and cleaner areas in other parts of the HV. Perhaps take a look at Beacon. It's a happening little spot. The train is very accessible from there.
Thanks, Tinydancer. Could you tell me what makes home ownership expensive in HV? Winter expenses? Oil? I know there are very nice places for 200K and up to be had but I also see lots of decent housing for less than that. Mind you, I have lower standards than most um, "Brooklynites" that are moving to the area. I also like to live within my means and don't care about cool beer, walkability or soapstone countertops. I ultimately just want a permanent place with about 900 sq ft and a patch of land in not-terrible school district.
If my family could divest our livelihood from Manhattan completely I would not mind one bit. In fact, that is the goal eventually. Beacon is great. But it is now too pricey for a car-owning family of 3 making under $150k annually with daycare to consider. Poughkeepsie is only a short term option for us. I get what you wouldn't live there though. Thanks again for the insight!
If you want the Poughkeepsie area, what about the Arlington, Wappingers Falls, Spackenkill and Hyde Park school districts? Highland across the Hudson from Poughkeepsie, could be another community to look into.
The high income, property and school taxes in addition to high utility bills drive up costs. Heating oil costs have gone down this year.
A lot of people have also shyed away from commuting to the city because the bridge tolls have increased. Taking the train can also run you 500/monthly. That's not to mention the time consumed by traveling.
Living here and working in westchester is doable. The Hudson valley is a great place to raise a family. I'm not sure what industry you are in though.
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