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Actually, given that home costs make up the biggest portion of cost of living(about 30%), it is very important. So, if the housing costs, even with what the property taxes may be, are still lower in relation to pay, it does make a difference.
Again, this is about real estate in relation to pay.
Actually, given that home costs make up the biggest portion of cost of living(about 30%), it is very important. So, if the housing costs, even with what the property taxes may be, are still lower in relation to pay, it does make a difference.
Again, this is about real estate in relation to pay.
What about retirees? I left because the taxes were killing me. Fixed income retirees get slammed by the taxes. My taxes alone without utilities, insurance and interest were $667 per month and my house was average, nothing special. You have to factor in lack of price appreciation, which matters if you leave the area. Sales tax and income tax are also a factor plus NYS never met a tax it didn't like. What about the generous NYS pension for people that don't even live in the area?
Again, this is about the average annual pay in relation to real estate/costs mentioned in the slideshow.
Retirees are likely to leave for a variety of reasons, but that still doesn't change the criteria of the slideshow or from the National Association of Home Builders. This also can have an impact on retirees if they want to buy again, but other factors like weather, family movements, etc. are also a part of that equation as well.
The article is flawed since it uses the median price of a house which can vary from zip code to zip code. If the East Side of Buffalo is included the median drops, if you use Amherst it rises. I used the Zillow website which at least gives someone an idea. Amherst has a median price of $233,000. Lockport is $138,000, Clarence is $316,000, Orchard Park $243,000, Lancaster $212,000, West Seneca $162,000, Lackawanna is $116,000 and Cheektowaga is $128,000 and the City of Buffalo is $78,600. Jacksonville is the largest city in the USA in terms of area. The median price in the city is $166,000. The different surrounding areas like Jax Beach is $366,000, Atlantic Beach $384,000, Orange Park $189,000.
Since you don't live in Buffalo and have no first hand experience, you post studies and statistics. If you were actually there you would see the malls are dead except for the Galleria which is kept afloat by Canadians. Downtown has been a ghost town for the last few decades. Canalside and Larkinville are a bright spots but its just a small area. When you consider Buffalo tore down one of Frank Lloyd Wrights masterpieces, the The Larkin Administration building in 1950 and its a parking lot to this day.
"The Larkin Building was an early 20th century building. It was designed in 1903 by Frank Lloyd Wright and built in 1904-1906 for the Larkin Soap Company of Buffalo, New York. The five story dark red brick building used pink tinted mortar and utilized steel frame construction. It was noted for many innovations, including air conditioning, built-in desk furniture, and suspended toilet partitions and bowls."
Last edited by Thundarr457; 08-25-2018 at 05:13 PM..
When you look at the major employers in the Buffalo area, the top 2 are NYS and the Federal Government, followed by Kaleida, UB and Catholic Health. I ran a business in the WNY area with 8 locations and I know the economy first hand. Private industry has fled, steel companies all gone, retail is a disaster. Look at the malls almost all failing long before Amazon. Bon-Ton 8 locations closed this week. Compared to other states NY would not be deemed "business friendly"
Again, the criteria is the same for every metro area in terms of home price and income. So, it is done with the whole metro in mind, regardless of where in that metro and the same for the income figures.
No, it is not misleading, based upon the criteria given. I can see perhaps debating the criteria used, but given the criteria used, no.
Using the median is just taking all of the incomes and home sale prices and taking the middle number for both categories within those metro areas. So, those figures are just a barometer of where the incomes and home sales prices are. Meaning, in those areas, half of the incomes and home sales prices are above that figure and half of both categories are below.
Location: Appalachian New York, Formerly Louisiana
4,409 posts, read 6,545,770 times
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Quote:
Originally Posted by HowardRoarke
One stat which I find downright frightening about Upstate, NY, is discretionary incomes after taxes and basic living costs. In some small metros across the country discretionary incomes are nearly double those in Upstate, NY.
Who care about how much a house is financed for, I want to know how much money I'll have to enjoy life. I now pay half of what I paid for health bennies up there, auto insurance is 30% lower, my property taxes are 1/3 of what they were in Rochester (on a house that's a lot newer), my income is much higher, etc., etc., etc.
That's why a lot of us are surviving rather than living.
It's also why a lot of us cannot afford to move out of the state without just cutting everything cold turkey and taking a massive risk.
But hey, at least the rich are happy!
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