Quote:
Originally Posted by Outta here
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The problem I see with analyses like this is that it seems like it is comparing Apples to Oranges.
Median rent is $1600. Ok, I can get a pretty nice apartment in a decent neighborhood in the city for that.
Median home price is $175,000. Is that going to buy me a nice house in a decent neighborhood? I don't think so.
Cedar Park in West Philly, for example has lots of nice apartments in that price range, and even cheaper. But a decent house in Cedar Park? Well, you could get a one bedroom condo for $200,000 to $250,000. Or if you want a nice row, maybe $250,000 to $350,000. All the way up to $400,000 or higher for half of a nice twin.