Real Estate
LI Town Among 'Cities in New York With The Most Affordable Homes'
The local town recently made HomeArea.com's list of cities with the most affordable homes in the state. See where the local town ranked.
LONG ISLAND, NY - One Long Island town is among the "Cities in New York with the Most Affordable Homes," according to a list created by HomeArea.com.
The website rank all cities in the state with a population of 60,000 comparing the home prices with local incomes.
Those numbers were then used to calculate the median multiple, which answers the question"how many years would it take for the median income to pay off the median home price?"
Find out what's happening in Brentwood-Central Islipwith free, real-time updates from Patch.
Click here to read the full methodology.
On Long Island, only one place made the list. Brentwood, which has a population of 57,361 was ranked at number 7 with a median multiple of 3.6. Previously, the town ranked at No. 6.
Find out what's happening in Brentwood-Central Islipwith free, real-time updates from Patch.
Cheektowaga, located upstate, came in as the city with the most affordable city in NY with a median multiple of 2.2. Rochester followed as the second most affordable city, receiving the same median multiple score as Schenectady and Syracuse.
Click here to check out the full list.
According to HomeArea.com, the median home price in Brentwood is $289,600 while the median monthly rent is $1,160.
The median household income is $69,000.
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