From the Times Ledger:While Brooklyn hipsters are increasingly paying Manhattan-like rents for their lofts, luxury apartments and elegant lofts, landlords looking to make a tidy profit on the skinny-jeans set need look no further than Queens.
A new study shows two trendy Queens ZIP codes, one in Sunnyside and another in Astoria, beat out just one in Brooklyn on a list of 25 cash cows across the country where investors can get the highest yields on rentals.
“While the precise definition of hipsters is elusive — which is likely just how they want it — there’s no doubt the culture surrounding the hipster lifestyle has a major impact on local real estate markets, and mostly in a positive way,” according to the special report by the industry research firm RealtyTrac. “As a nascent hipster market emerges, it can be an extremely appealing target for real estate investors looking to make some quick fix-and-flip profits or to purchase rental properties that provide a steady cash flow and the promise of strong appreciation going forward.”
The study defined a hipster neighborhood as one where at least 20 percent of the population is between the ages of 25 and 34 and at least 20 percent of residents either walked or took public transportation to work. RealtyTrac narrowed the list to ZIP codes where at least 50 percent of people rented and where vacancy rates were 5 percent or lower.
That's how you define a hipster neighborhood? Where people of working age live and where good transportation is? That's kind of stretching it.
Here's some real hipster dope.
8 comments:
they are ruining our area -- the rents are sky high, the partying is out of control, etc.
How are "hipsters" able to afford these sky high rents , eat out everyday, and party all the time??
What kind of jobs do they hold?
Ummmm...........yay?
Astoria & Sunnyside are as doomed as doomed can be...
They're not "Hipsters" They're "Trustafarians"
What kind of jobs do they hold?
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Mostly part-time as "media consultants" (meaning, they go on twitter) or some other fabricated industry.
But that money is just to buy hats and mittens with. The rent is covered by mom and dad.
they have 6 or more people living in the apartment that is how they can afford these rents
Eff hipsters!
A typical living arrangement is 5 or 6 people with 2 of them with a regular income, 1 or 2 living off of some parent's money, and the rest are hangers on.
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