In Your City - What Are The Most Desirable Neighborhoods and Why?

[Koolau]

Of course, the “debt per capita” is not a meaningful number, because it doesn’t consider business or any other economic activity, which also pays for and benefits from state spending. The Illinois GDP is a bit over $1T and the debt is $65B, so around 6%. There is future unfounded pension obligation, but there is also future economic activity to pay it.

This site would suggest a significantly worse situation (ca 2020.) Of course, IL is still better off by these statistics than my home state of HI and my "roots" in KY. YMMV

 

[GenXguy]

I read somewhere (WSJ?) that a new resident of Illinois inherits over $80,000 in state debt that needs to be paid. About half of that amount is unfunded pension obligations.

Yeah, about 5 years back, I used to spend hours researching where to move when I retired. Since then, housing prices shot up, along with most everything else related and unrelated, and I'm priced out. Stuck here in Illinois with high taxes and fees.

 

[Out of Steam]

I agree. The older, established neighborhoods are much more desirable than the newer "ticky-tacky" homes that seem to be springing up in our old home town.

After 35+ years of it, I've gotten tired of suburban life. But walkable neighborhoods are hard to come by in our Southern US metro area. Those that aren't in the early stages of gentrification come with prices approaching those of the DC suburbs we left.

I also have some reason to believe that my driving ability won't age well, which is problematic in a region with very limited transit. The combination could cause us to undo our retirement-age move as we get older.

 

[Ronstar]

Of course, the “debt per capita” is not a meaningful number, because it doesn’t consider business or any other economic activity, which also pays for and benefits from state spending. The Illinois GDP is a bit over $1T and the debt is $65B, so around 6%. There is future unfounded pension obligation, but there is also future economic activity to pay it.

I think you said it best - "There is future unfounded pension obligation"

Definitely unfounded - public worker pensions are extremely generous and out of control in illinois.

A portion of pensions (maybe all?) come from real estate tax revenue. My tax bill used to include line items for pensions. Not anymore - now just a statement on the tax bill that says that tax district pension and social security amounts are included in the current tax.

I'm paying $5k per year tax to our school district alone.

I don't care if there is future economic activity to pay for the pension obligation, as long as I don't have to overpay. And I am overpaying IMO. But I will remedy the situation at some point.

 

[Teacher Terry]

I have lived in 5 states. 27 years ago I moved to Reno for a job with the state and I absolutely love it. It’s a mild 4 season tourist town that has tons of things to do. In less than a hour you can be in the mountains and beautiful Lake Tahoe.

 

[Montecfo]

Just checked Hillcrest on Redfin. The cheapest is a 1 BR that is less than 600 sq ft for $420k. I foresee myslef moving back to Arizona because I just can't come to terms with paying that much $$ for a tiny place, even though the walk score of 94 is perfect. Can rent a 1BR for $1500/mo though.

Well Arizona has gotten a LOT more expensive! Something to keep in mind.

 

[Rianne]

I think you said it best - "There is future unfounded pension obligation"

Definitely unfounded - public worker pensions are extremely generous and out of control in illinois.

A portion of pensions (maybe all?) come from real estate tax revenue. My tax bill used to include line items for pensions. Not anymore - now just a statement on the tax bill that says that tax district pension and social security amounts are included in the current tax.

I'm paying $5k per year tax to our school district alone.

I don't care if there is future economic activity to pay for the pension obligation, as long as I don't have to overpay. And I am overpaying IMO. But I will remedy the situation at some point.

We did not have children and pay a huge portion of our property taxes to school districts. And the state pension obligation, well don't get me started. Farmer's subsidies are also an issue. Corn and beans, every year destroy the rich midwestern soil and waterways. But we'll stay here. Our family is here. And I like living in a university town. And I love our neighborhood. There are always pluses and minuses.

 

[Montecfo]

We have talked a lot about moving now that we are both retired and not tied to this area (Northern VA/Metro Wash DC). But it is a really attractive area to live in. Here are some factors:
- mild 4 season climate, with very little severe heat or harsh cold. There usually is snow, averaging 10 inches or so annually. We like the snow but it rarely is enough to paralyze the area for long. No hurricanes or earthquakes.
-it is a wooded area with rolling hills. But the mountains are an hour away, the beach 3 hours, downtown DC 30 min or so. National Parks nearby. Retail very accessible with a short drive. Lots to do close by.
-While you can't walk to much retail from my house, it is a low traffic area safe to walk or bike without crossing major roads. You can walk to the outstanding community pool and kids walk to the elementary school.
-Hiking paths within stream valley parks and old rail right of way crisscross the area with miles of bike and hiking trails.
-Metro (subway) reaches our area now, so that provides easy access to the entire metro area.
-3 major airports provide many travel options.
-Excellent schools keep the neighborhood desirable to young families. Tech and government jobs attract a highly educated diverse workforce. People from everywhere.

The downsides I would say are higher than average cost of living(though somewhat less so in the suburbs) and some people's tenure here can be tied to government and therefore ever changing. Friends move away and some nice back (we did). Also the sports teams are perennially bad except sometimes the baseball team. Ok maybe hockey too.

All in all it has proven difficult to beat but we are open to other options.

 

[Koolau]

We have talked a lot about moving now that we are both retired and not tied to this area (Northern VA/Metro Wash DC). But it is a really attractive area to live in. Here are some factors:
- mild 4 season climate, with very little severe heat or harsh cold. There usually is snow, averaging 10 inches or so annually. We like the snow but it rarely is enough to paralyze the area for long. No hurricanes or earthquakes.
-it is a wooded area with rolling hills. But the mountains are an hour away, the beach 3 hours, downtown DC 30 min or so. National Parks nearby. Retail very accessible with a short drive. Lots to do close by.
-While you can't walk to much retail from my house, it is a low traffic area safe to walk or bike without crossing major roads. You can walk to the outstanding community pool and kids walk to the elementary school.
-Hiking paths within stream valley parks and old rail right of way crisscross the area with miles of bike and hiking trails.
-Metro (subway) reaches our area now, so that provides easy access to the entire metro area.
-3 major airports provide many travel options.
-Excellent schools keep the neighborhood desirable to young families. Tech and government jobs attract a highly educated diverse workforce. People from everywhere.

The downsides I would say are higher than average cost of living(though somewhat less so in the suburbs) and some people's tenure here can be tied to government and therefore ever changing. Friends move away and some nice back (we did). Also the sports teams are perennially bad except sometimes the baseball team. Ok maybe hockey too.

All in all it has proven difficult to beat but we are open to other options.

It sounds very nice. My uncle/aunt lived on a small rocky farm just outside of DC (in VA) and they ran 100 head of sheep (say what?) He w*rked for the gummint and had a decent commute (back in the 60s)

 

[clobber]

I have lived in 5 states. 27 years ago I moved to Reno for a job with the state and I absolutely love it. It’s a mild 4 season tourist town that has tons of things to do. In less than a hour you can be in the mountains and beautiful Lake Tahoe.

OP here.

Reno looks nice. Population is ~250,000, can you identify the most desirable areas of Reno so I can research?

 

[Teacher Terry]

Reno has very few neighborhoods that are unsafe one of them being by the rodeo grounds. Prices vary greatly as it’s much more expensive to live in the south or southwest than the north valleys for instance. Real estate is now more expensive than Sacramento.

 

[teej1985]

Well Arizona has gotten a LOT more expensive! Something to keep in mind.

Cost of living in Phoenix (and Tucson) has increased, but it's still a bargain compared to SoCal...and Tucson is still "cheap" compared to Phoenix.