Outside the world of HDFC co-ops, it can feel near-impossible to find a New York City apartment in what could reasonably be considered a "starter apartment" price range. But per some recent digging by data site NeighborhoodX, there are a surprising number of listings in the five boroughs asking $150,000 or less, if you're willing to move to a relatively far-flung neighborhood.
"There were actually several hundred listings under $150,000 (and as low as $60,000 for market rate, although you do start to see some issues/surprises with anything at that price)," explains NeighborhoodX founder Constantine Valhouli. "But they seem to be clustered in the Bronx—Riverdale and Fieldston on the west side, throughout the east side and South Bronx—and deeper into Brooklyn and Queens."
"Given the almost identical price point of these listings, it was interesting to see how the commutes varied," notes Valhouli. For instance, the commute to midtown from East Flatbush is 65 to 69 minutes; from Parkchester, 64 to 66 minutes; and a comparatively more manageable 45 to 55 minutes from University Heights.
In a way it's comforting to know that there are still at least some bargains still out there in the city, though this data also confirms what we long suspected: If you want to score a deal, what you save in cash, you'll pay for in commute time.
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