Is it better to be above or below the average income of your community?

Asked by Kherter, Brooklyn, NY Mon Apr 1, 2013

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Mitchell Feldman’s answer
Mitchell Fel…, Agent, Brooklyn, NY
Mon Apr 1, 2013
Dear Kherter:

There is usually a correlation between property values and income levels within a community statistically speaking. And that correlation is that communities with higher incomes demographically usually sell at higher prices as opposed to similar properties in with lower incomes demographically.

The thing is that communities and demographics change over time and property values can vary for many different reasons. I assume you are asking your question with regard to future property values and the likeliness that your investment will be safe and/or grow. With that assumption in mind, I would say that although there is never a guarantee, the better long term investment for an individual would be if your income was below the average in the community.

That's my two cents. If you want to discuss this further, feel free to contact me direct.

Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
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Anna M Brocco, Agent, Williston Park, NY
Mon Apr 1, 2013
It's really is all about personal preferences; where would one be happiest living regarless community incomes....
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