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The alternatives were Long Island or New Jersey. Enough said.
Question for the people living here (with kids) comfortably that make less than $300,000: Do you save money?
We have a similar approach. We pay ourselves first (retirement account, college savings account, vacation account, home & car maintenance account, rainy day account and housekeeping account). Then we pay our individuals bills (credit cards, commute costs, etc.) Whatever is left is disposable but that's a pretty small number. To me, that's ok though. We're taking care of the priorities first and making sure we have funds available when needed. Of course I would love to have more disposable income but when you have two young kids that's a challenge.
Our family makes considerably less than $300K (more like 1/3 that), but we rent. I can't say we want for much. We save a little, but we don't need a big house, fancy cars, and $5000 summer camps for the kids.
We live in Hastings-on-Hudson because it's conveniently located for work, it's a pretty chill little town, and the public schools are good by NY standards. We plan to stay in HoH until which time our two sons graduate (or prices rise to the point we can't live there), and then we are outta there.
These median income measures are always skewed by retirees and younger residents in apartments. I'd imagine the median income of people in Westchester who live (1) in a private house and (2) outside of a few neighborhoods in Yonkers, Mt Vernon, New Rochelle, Portchester, and Ossining is in the 300k neighborhood.
Also, it depends on when the residents bought their house. Many people live in houses they bought years ago and could never afford to buy today with their income. To start out in Westchester, you need an income much higher than the median household income.
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