Rent/Housing Rates in NY.... I know its real expensive, but not sure about the extent as to which it is expensive.
Any of the suburbs within 30 miles of manahattan will be in the 300-450K range for a 3 bedroom with RE taxes between 7-12K per year. Apartments 1-2 bedrooms between $1800-$2500/mo. Anything cheaper would have issues such as higher crime, mediocre schools, etc. Good luck We recently moved from Atlanta to Northenr Nj and the sticker shock was quite substantial.
i live in hoboken, which is where a lot of 22-30 year olds live who work in the city. lots of bars, good restaurants, and is clean. commute by taking a 10-15 minute ferry ride to the city. pay 1500/mo in rent for a 900 sq foot apartment, with a parking space. another trader tried to get me to take over his lease in the city, and it was 2200, for the same size.
Definitely alot easier to find a decent place to rent compared to few years ago, especially in manhattan -- there's a number of new high-rises in the midtown - chelsea area that are offering good concessions. Just hold out until Bloomberg declares the city insolvent and I'm sure you'll find some bargains
Just sold a 4400 sq ft apartment in Tribeca. Roof, deck, boxing gym in the apartment, 20 ft ceilings. 18 windows wrap around. Deal was done in mid-October, closed early December. Anecdotally, in early January I heard about a very similar place in the same area that sold for 40% less! I asked around and, apparently, very quietly high end real estate in NYC has completely collpased over the past month and I don't think its getting better. Seems like its worth waiting before buying.
uptown (upper east and west side, Park Avenue, Turtle Bay etc.) is the most expensive. A ton of new buildings have come on the market all over Manhattan but especially in the Chelsea area of Manhattan, with a brand new 2 bedroom with doorman and high end facilities going for say $3,800 - $4,800. South of Houston St., rents have come in quite substantially, I'd say anywhere from 15-30% since 9/11, so say $300-$600 or so less than Midtown per month. My in-laws have spent the last 8 weeks or so apartment hunting all over Manhattan and still have not found anything satisfactory. Their budget is less than $5,500 per month. The problem is either space (they want at least 1500 sq. ft. or views (they want dramatic) with a doorman and new or almost new fittings. If you are less picky and especially if you are willing to live downtown, there is a glut of apartments right now.
of manhattan has some sublet rentals and outright sales taking place in coops at good prices for manhattan ... a few of the big name real estate agencies have reps covering a few of the apts there one of the better local brokers is http://www.lohorealty.com/ good luck ...
A lot of people are starting to completely bypass NJ and are moving to the Poconos and doing the hour commute, taxes are lower and schools are pretty good. They even have vans and busses that are used just for the purpose of handling the growing numbers of people who are doing this. Good buddy of mine just got a studio a few blocks from Rock center, I think he's paying 1800 a month. Try this.... www.apartmentfinder.com