Buying an apartment in NYC can be a good investment as they can rise in value overtime.
Many people look to live in NYC and you'll almost always get your money back or profit when you sell your NYC apartment.
Also if you decide to move out you can always rent the NYC apartment out for a monthly income as well and still pay down the mortgage on the NYC apartment.
NYC apartments go for high rent and are always in demand.
The average price of a Manhattan Apartment monthly for rent is $4,000.00 per month for an average Manhattan Apartment.
For a more luxurious apartment in Manhattan the price can go up to $10,000.00 per month and sometimes more.
The average price to buy a Manhattan Apartment is around $710,000.00 to as much as $1 million dollars and even more depending on the apartment and apartment size.
The average median cost to buy a house in NYC is a staggering $779,000.00 for the cheapest house.
Then the more expensive homes go up to $1 million dollars for a house.
Buying a home in NYC is very expensive as is renting apartments in NYC.
However there have been a few homes that sold for only around $300,000.00 but usually those homes were considered fixer upper homes.
You also have to factor in the closing costs and property tax as well once you own the home.
Property tax in NYC is really expensive as well.