Bronx Real Estate Trends
When people think about moving and living in New York, the first thing that comes to everybody’s mind is Manhattan. Yes, Manhattan is amazing, but it also comes with an enormous price tag. Because of that people started looking for alternatives. And, this is when the Bronx comes into play. It was not a popular destination for moving in the past, but the situation is really changing nowadays. It is true that the housing prices are rising in the Bronx, but they are still a lot lower when compared to other New York City boroughs, especially Manhattan. And, according to the real estate agents, there is plenty to choose from too. It is easy to find a good home that suits everybody’s needs and budget. Thus, if you are interested in moving and living here, keep on reading to find out some Bronx real estate trends.
Why Are People Moving to the Bronx?
First things first, let us tackle the issue of why are soo many people moving to the Bronx nowadays. Well, one of the main reasons must be its affordability. Everything is just cheaper here. You can find a home to rent or buy for a reasonable price, and other things like groceries and entertainment do not come with a hefty price either. Moreover, should you need to go to Manhattan or some other borough to work or just to have fun, you can do it quite easily as the transportation system is well developed. But, you will not have that many crowds, congestions and traffic jams. The job is also thriving, the schools are top-notch, there are many green areas, and many attractions and cultural events. Thus, if you liked everything you read so far, start packing your bags as the Bronx has a simple solution for moving too!
Housing Prices in the Bronx
Of course, before packing your bags and calling Tik Tok Moving and Storage to help you relocate, you must first check the Bronx real estate market, as well as all the listings. That is the only way to find a home that suits both your needs and your budget. You will be glad to hear that the housing prices here are very affordable and actually the cheapest when compared to all New York City’s boroughs.
So, if you decide to rent, you will have plenty of options. But be sure that prices can vary depending on the location. The average price for renting a two-bedroom apartment in the Bronx is around $1,694. However, if you choose to live somewhere outside the city center you rent will be even lower. And, if you decide to settle in the Bronx for good and buy your own home, you will have to spare around $301 per square ft. Which is a lot lower when compared to the average of $700 per square ft for other NYC boroughs. Thus, a standard family home will cost around $437,900.
Renting Vs Buying
Whether you should rent or buy a property in the Bronx largely depends on your needs and your budget. If you plan on moving to the Bronx with your entire family and settling in for good, it is probably a better idea to buy a house or an apartment. Yes, it is going to be more expensive at first, but in the long run, it will be worth it, especially since housing prices are more than affordable here. However, if you are moving to the Bronx alone, maybe because of your job, education, love or something fourth, it might smarter to just rent. As previously mentioned, the rent can vary depending on where you choose to live. So, look for apartments outside the city center and you will not break your bank and be able to live comfortably.
Find Yourself a Real Estate Agent
If you are moving for the first time and do not have much experience when it comes to renting or buying, it would probably be best to find a real estate agent to help you out. You should also do the same if you are moving to the Bronx from a foreign country. Be sure that this borough is big. And it is quite diverse. You will have neighborhoods filled with families and children and those planning to start a family, and you will have neighborhoods filled with young professionals and college students. Thus, if you are not from here, it will probably be hard to find a neighborhood juts for you. So, do yourself a favor and hire a real estate agent to help you find your dream home in no time. Just be sure to know exactly what you are looking for and how much you can stretch your budget.
Best Bronx Neighborhoods
And finally, let us tackle the issue of which Bronx neighborhood is the best to move to. Well, there is not a simple answer to this, as every neighborhood is different and in the end, it all depends and comes down to your budget and needs. So do proper research and do not make those common relocation mistakes. But, never the less, here are some neighborhoods you should check out when moving to the Bronx:
- Riverdale – a peaceful and quiet place, away from all the hustle and bustle. Great for retirees and families with children.
- Bedford Park – safe and diverse, filled with people from all walks of life.
- Fordham – heaven for college students. Great nightlife and cheap food and rents. Here, you will also see many people moving after college too.
- Morris Park – great for nature lovers. You can enjoy parks, botanical gardens as well as the zoo.
- Pelham Bay – another safe and peaceful neighborhood great for those who love the beach.
November 11, 2019