Apartment Rentals in Hoboken, Jersey City and New York
When
you take a look at the average one-bedroom apartment rental rates
listed below for Hoboken and the New York-New Jersey metro area, you'll
quickly see how owning a condo at The Lenox is not only affordable but
offers more value for your money.
1 BR Apartment Rental Rates
|
Hoboken |
$1934 - $3440 |
|
Jersey City |
$1956 - $3230 |
|
New York City |
$2802 - $3673 |
|
West New York |
$1425 - $1651 |
|
Fort Lee |
$1633 - $2438 |
|
According
to the National Apartment Association, the apartment rental rate
increase for this area averages around 4% per year, so your monthly
costs can increase significantly over time if you continue to rent
rather than buy.
|
Condos for Sale in Hoboken and Jersey City
Not
only does The Lenox offer you an affordable alternative to apartment
rental, our luxury condos also offer you a better value compared to
other condominiums for sale in Hoboken and Jersey City. Listed below is
the starting price for a variety of condo layouts in Hoboken and Jersey
City compared to The Lenox.
|
|
Studios |
1BR |
2BR |
|
The Lenox |
low $190,000s |
mid $200,000s |
low $300,000s |
|
Hoboken |
mid $400,000s |
mid $500,000s |
low $700,000s |
|
Jersey City |
mid $400,000s |
low $600,000s |
low $500,000s |
|
Advantages of Owning a Condo at The Lenox
If
you're thinking condominium ownership is not realistically within your
budget, you'll be pleasantly surprised to discover that owning a condo
at the Lenox is more affordable than you think. For example, the
monthly mortgage payment for a $230,000 1 bedroom condo with a 10% down
payment at a 30-year fixed interest rate of 6.25% would be $1,265.50 -
which is significantly less than the average monthly apartment rental
rates in Hoboken and Jersey City as noted above. Even when you factor
in the monthly maintenance fee and property tax--which in this example
would total approximately $535 ($135 is tax deductible), you're still
getting more value for your money.
In
house financing can finance up to 3 years maintenance, significantly
reducing monthly payments. Your property tax will also be abated for 5
years.
Owning a condo at The Lenox
will provide you with valuable benefits. The interest paid on your home
loan and property taxes are both tax deductible, and you'll build
equity over time as the value of your condo appreciates.
Please take a few moments to browse through our list of condos for sale - your new home at The Lenox is waiting for you!
