Is the Bronx the most affordable borough to live in?
People decide where they will live based on different criteria. That will depend on your age, period of life, your salary, and your priorities. For many people, the Bronx is just the area where people love to be and live, but you may wonder if the Bronx is the most affordable borough to live in. And we are here to help you find your answer. Also, have in mind that if you don’t have a need for a big home, you can always use storage as additional space to keep all items you don’t use daily. That also doesn’t have to be expensive. After all, you can find self storage first month free. There are so many different options, so let’s explore some of them together.
Is using storage space such a smart move?
If you never used storage before, you may think that it’s unnecessary. Well, it can be, but also, storage can be such a great benefit that it can improve the quality of your life. First of all, it will bring some extra space storage in NYC. And having more space that you can use, close to your home will open some more space in your place. Just about anyone can see the benefits of it. Having a place that is cluttered makes chaos and additional stress to the space and then to everyone who lives in it.
We all tend to keep things we don’t use every day. Some of them have their value because they are memories, while others we use for some period of the year. And having storage is a great option because you can place those items in here and also change them based on the need and the season. So if you plan to live in the Bronx, you should know that you can find storage in Bronx NY. That will make it easy to go to your unit and take whatever you need. And you will save time on transportation.
Let’s figure out if the Bronx is the most affordable borough to live in
New York City is for a long time on the list of the most expensive places to live in. Many indexes actually use it as a benchmark and compare them to it. Nowadays there are some cities in the world that are more expensive for a living than NYC. The good news is that not all boroughs are created equal. While some of them are so expensive, others are pretty affordable to live in. The Bronx looks like one of the cheaper areas to live in. But let’s see if that is really the case. Is the Bronx the most affordable borough for a living?
Renting prices in the Bronx
We all know that housing prices are actually the thing people have to allocate money on. Is renting in the Bronx such expensive? Well, you can debate this topic. While the average rent in the city is about $3,500 in the Bronx is something more than $1,600. And yes, this seems cheap, but we also have to remind you that the national average is under $1,500. This makes the Bronx one of the cheapest boroughs to live in, but you still have to pay premiums for living in New York City. And the same applies to other stuff too. The prices of storage won’t be the same in Manhattan as they are in the Bronx. That’s why you can get some extra service for an affordable price. And we advise you to find storage companies that pick up, which will make your life easier.
Costs of living in the Bronx
Outside of rent, overall prices of living in the Bronx are actually 15% lower than the average in the Big Apple. However, this depends on the lifestyle you choose. While groceries are about 8% lower than the NYC average, the costs of eating outside are even more than 40% lower than the city’s average. So when you see this, you understand that the Bronx really is one of the cheapest boroughs in New York. It maybe is even the cheapest one.
Earnings of residents in the Bronx
The cheaper life in the Bronx comes with a burden. People who live there don’t have big incomes. It is actually logical that this goes both ways and that their spending power isn’t great. When it comes to some great jobs that are in the center city, people who live in the Bronx are disadvantaged, because they are far from the city core. People who decide to travel to the city center will face spending time in heavy traffic. And that will maybe prevent them from working a second job. The median household income for residents of the Bronx is a bit under $44,000. So have in mind that your potential neighbors will live in one of the cheapest areas in New York and still have to spend more than the national average. Decide if that is all worth it for you and your family.
Do you now have a clearer picture of the question ”Is the Bronx the most affordable borough to live in”?
We really tried to answer the question: is the Bronx the most affordable borough. And we do hope that you are now more aware of those opportunities of living in the Bronx, NYC. It seems unnecessary to mention that people who decide to live in New York can’t expect cheap life in comparison with the national average. Still, you will be able to find the right place for yourself even if you look for some affordable options. Now, you should know that every advantage comes with some cons to it. So take time to rethink what are your priorities and when you know exactly what you want, you will be able to make this decision with ease for sure.