Is the tri-state area overpriced?
Are we really “immune?”
While they didn’t mention Hoboken – I’d presume, since Hoboken has long been touted as the “Sixth Borough,” that similar costly rents and other associated expenses are still demanded and expected here.
What are your thoughts? I feel that if this trend continues, the “flight” out of NYC and Hoboken will continue at a steady pace – at least till the economy recovers.
You need to earn six figures to make middle class
Some quotes, facts and figures from the NY Daily News Article:
The study, released Thursday by the Center for an Urban Future, shows that New York City is hands-down the most expensive place to live in the country.
- A New Yorker would have to make $123,322 a year to have the same standard of living as someone making $50,000 in Houston.
- In Manhattan, a $60,000 salary is equivalent to someone making $26,092 in Atlanta.
- You knew it was expensive to live in Manhattan, but Queens? The report tagged Queens the fifth most expensive urban area in the country.
- The average monthly rent in New York is $2,801, 53% higher than San Francisco, the second most expensive city in the country.
Sure – we don’t live in Manhattan, but it still makes you wonder…