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Yes, New York City is that expensive
One of my past clients is now affiliated with my office here in Danbury,CT. Unannounced to me, she is was an agent in the New York City, as I dealt with her husband only when I represented them on their purchase.  She is still active in New York, and I finding out a lot more information about the real estate market there than I knew before.
For example, they used to rent in very close to Morningside Park. A one bedroom in an Avalon complex that starts at $3800 per month for a 1 bedroom that is about 800 square feet. A very similar property in Danbury for a one bedroom would go for about $1350 at most.  In addition, I recently helped a growing family relocate to the area from the southern end of Queens. They told me their mortgage & property taxes for their new 4 bedroom home on an acre in an established neighborhood in Bethel was less than what they were paying in rent for a modest apartment, and this was purchasing their new home with a relatively small down payment.
The overall cost of housing in New York City is just so much higher than Danbury, only being 60 miles away. The average rent ... more

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