This post was contributed by a community member. The views expressed here are the author's own.

Politics & Government

Triggers of Brain Drain in North Hempstead

From high student loan payments to desire to live somewhere hip, 20-somethings are leaving Long Island.

Ask 20-somethings where they’d like to live now, and chances are North Hempstead is not their first choice.

The reasons vary. Maybe these young professionals already planted roots in their college town. Maybe they struggle with paying off student loans while also coughing up money for rent. Maybe they are looking for a community that offers lots of nightlife. Or maybe in this tough economy, they aren’t finding jobs nearby.

Regardless, 20-somethings seem to be a bit of an anomaly in North Hempstead, an area where many people commute to the city for .

Find out what's happening in Mineolawith free, real-time updates from Patch.

“We’re still a bedroom community for the city,” said  Planner Michael Levine. “Our median age is up over 37, 38 now.”

Yet according to Levine, the cost of living alone is not the sole cause of the so-called “brain drain,” a label used to describe the exit of young professionals as they choose to live outside of Long Island.

Find out what's happening in Mineolawith free, real-time updates from Patch.

“The myth is that the brain drain on Long Island is because the cost of living is it’s too expensive,” Levine said. "If it’s just cost, then Park Slope and the Upper West and East Side wouldn’t be getting younger but they are.”

As for jobs, North Hempstead residents have fared better than those from other parts of the region.

“Our unemployment has stayed lower than the average for the state of New York,” Levine said. “We’re down just below six percent and the state is around seven percent.”

Young professionals who land a job in one of the boroughs, the Long Island Rail Road system in the town allows for working in the city while living in a suburb.

“You had local downtowns form around railroad stations,” Levine said of areas in the Town such as Westbury, , Port Washington, Great Neck. Yet many say that those downtowns typically do not offer the kind of nightlife and recreational activities found in Brooklyn, Manhattan, or even Huntington – spots that tend to attract young professionals.

Cost is a factor, though, for 20-something Long Islanders who don't want to live in their parents’ basement. Combine the immediate debt following college with the prices of homes in the Town, and you can see that Long Island suburbs aren’t easily affordable for most post-college grads.

Peter Caputo of ERA Caputo Realty in New Hyde Park services residents in all areas of Nassau County and offered insight on how much money a perspective homeowner would need.

“The down payment is dependent on the price of the home,” Caputo said. “Anything in the $300,000 price range would be 3.5 percent down. Something in the $400,000s would be anywhere from 10 percent to 20 percent down. The bigger the mortgage, the higher the monthly payment.”

That translates into a $10,500 down payment for a $300,000 home and a staggering $40,000 to $80,000 for a home in the $400,000 range.

In Port Washington, starter homes begin in the 400,000's, according to Emma McMahon, the sales manager and vice president at Daniel Gale Sotheby's International Realty “There are a few very nice homes available in this price range,” she said.

As for down payments, the Federal Housing Administration will allow buyers to pay as little as 3-5 percent, though most traditional banks want 20 percent.  “If the buyer cannot put 20 percent down. they will have to pay PMI - Mortgage Insurance, which has gone up quite a bit and can add hundreds of dollars onto the monthly payment,” she said.

One-bedroom rentals in Port Washington start at about $1,500 and require at least one month security. If you have a pet landlords usually ask for two months security. Many landlords will not take pets at all.

North Hempstead may be attractive to young professionals working in the health care sector, one of the bright spots in the labor market. 

The Town is fortunate to have a strong  care sector with employers such as North Shore and , Levine said.

We’ve removed the ability to reply as we work to make improvements. Learn more here

The views expressed in this post are the author's own. Want to post on Patch?