"This is a very good calculator but I would be very cautious about buying into a (likely) overpriced market. Those numbers are scary high to me. I hope there is a very good reason you are moving to this city. Perhaps after you get to know the city better you can judge that some of the "bad" neighborhoods are not so bad."
Thank you so much for that calculator- from what it suggests we might be better of buying but again, we will not be buying right away. We will consider buying once we have lived in that area for 6+ months. And yes, the numbers are scary as it is NYC. We are looking in the Jersey City and Secaucus areas, which is still a good 30-40 mins commute to NYC