Submitted by swimteam69 t3_ybxev9 in Newark
I am a native of new jersey, lived by newark and looking to moving into newark. I want to live Newark because of work but I am here looking at places to rent and it is bleak. I keep thinking "if i want to live in newark why am i paying almost new york prices? at that point live in new york" I know Newark wants to be its own city but New York is next to Newark and that begs of comparison.
I know my place of privilege and wealth. I think I make more than the Newark median income and I find things expensive. I cannot imagine what the lower 50% feel like.
Newark developments are promising though but at what cost? The material conditions for the impoverished need to me improved. Why am I paying 70% New York prices to have little trash cans on the street something so simple to fix?
With these rent prices, we should be getting our moneys worth. More trash cans, better sidewalks, and more social safety nets.
I will still most likely live in Newark still but it is crazy to think about. I hope the 1000 units coming in next year or 2 decrease rent prices.
GhostOfRobertTreat t1_itj2yd6 wrote
Labor and materials cost roughly the same in Newark as in JC and Manhattan. The biggest difference in cost would be land. Most large towers in Newark need subsidy in order to generate enough revenue to pay off what it costs to build them.