Reasonable Alternatives to Life Downtown
You may have your heart set on living in a downtown neighborhood, but is your pocketbook ready?
While home prices in many neighborhoods around Boston have fallen in recent months, home prices in the city’s core — The South End and Back Bay, for example, have held their own, or even increased. A simple two bedroom condo of modest square footage can easily approach — are you ready—$1 million.
If you’re not made of money, what are your alternatives?
Actually, there are quite a few ifor those looking for urban ambiance, walkability, proximity to public transportation and a few good restaurants. You don’t necessarily have to live in The Back Bay or The South End. In many instances, just by going a mile or two further afield than your preferred neighborhood, you can find almost everything you would have had closer in, with significant savings. Many of these urban neighborhoods also boast new luxury condominiums, where buyers can enjoy the same amenities they might have found in a luxury development downtown.
Instead of the North End, Charlestown.
Median sales price of condo in North End $550K. In Charlestown:$375K.
Just a short walk from the North End, Charlestown has become a hit among those seeking refuge from North End and Waterfront prices. Although parts of Charlestown have become quite expensive in recent years, other parts are still affordable. Charlestown may not be able to claim the ambiance of the North End, but since it’s so close by, you can get it when you want it.
Instead of the Beacon Hill, East Cambridge.
Median sales price of condo in Beacon Hill: $707K. In East Cambridge: $575K.
For those wanting to remain near Beacon Hill, just cross the Charles River to East Cambridge. This part of town is gentrifying and fast — there are some streets, complete with cobblestoned sidewalks, that seem as if they could actually be in Beacon Hill. You get more space for your money on this side of the river, plus the benefit of nearby restaurants, a recreational area along the River and The Cambridgeside Galleria.
Instead of the South End, Jamaica Plain.
Median sales price of a condo in South End: $488K, in Jamaica Plain: $329K.
Although JP feels further out than the South End and is admittedly more suburban, it’s really just minutes to the city. The Orange line will whisk you right downtown. This neighborhood is also convenient to anyone working in the Longwood Medical district. Filled with interesting shops, restaurants, bakeries and pubs, most people who have moved to JP are very happy there.
Instead of the Back Bay, Brookline.
Median sales price of a Back Bay condo: $640K. In Brookline: $411K.
Continue up Beacon Street beyond Kenmore Square and you hit Brookline, which honestly doesn’t feel much different from the Back Bay. Areas of this town are filled with the same brownstones and brick townhouses as the Back Bay. In Coolidge Corner and Brookline Village, you can find restaurants and shops of every kind. There is a vibrant street life, and the schools are even better than those in Boston.
Instead of the Fenway, Brighton.
Median sales price of a condo in the Fenway: $340K, Brighton: $248K.
Both the Fenway and Brighton house large numbers of students, but the Fenway has become quite a bit pricier in the last 10 years. An alternative would be Brighton, which offers a wider variety of housing stock and proximity to Boston, thanks to the B line of the Green Train. Brighton is not gentrifying nearly as rapidly as the Fenway, but there have been a few upscale condo projects in this neighborhood in recent years, catering to B.U. grads and professors.
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