Catherine Curan

Now more than ever, first-time home buyers are—how shall we put it?—scared shitless. If the mortgage crisis and waves of foreclosures haven't got you freaked out, then the crazy stock market and talk of recession do. But don't tuck that down-payment money under the mattress just yet. As prices in Manhattan and much of Brooklyn continue to defy logic and middle-class incomes, Queens remains within reach for many young families. What you'll get: good schools, a strong sense of community, one-of-a-kind cultural institutions, even luxurious extras like a water view. And let's not dismiss the quotidian value of countless authentic, affordable restaurants whose managements scorn the suggestion of a stroller ban. Sure, the nabes out here are admittedly low on baby boutiques and private play spaces, but some residents feel that's not such a bad thing. It's true that the number crunchers at Moody's Economy.com forecast falling prices for single-family homes all over Queens through mid-2009. But these five established areas are among those less vulnerable to a downturn. In fact, the volatile economic climate means that sellers are ready to negotiate. "Many homeowners who tried to sell high now know they're not going to get that price," says Bayside resident Rene Nario, an associate broker at RE/MAX Universal who specializes in northeast Queens. Nario recently had a client slash the asking price by 15 percent, or $85,000. His advice: "Make any offer. Sellers are willing to listen."

Before becoming a mom, Elizabeth Westcott-Pitt moved around a lot, soaking up the cachet of Greenwich Village, the swankiness of the Upper East Side, and the hustle and bustle of midtown. Four years ago, the marketing consultant and her husband, Colin, a brand director for Malibu Rum, decided they needed another change of scenery. They bought a two-bedroom, two-bath co-op at 32nd Street and Madison Avenue—smack in the middle of an area many Manhattanites consider a Greek-sweatshirted heart of darkness. (Even the maps in taxicabs leave much of the district a blank, uncharted gray.) But when Elizabeth gave birth to daughter Ava this past April, the Westcott-Pitts never considered moving to a new neighborhood, despite inquiries from friends and family. “Sure, the postgrad situation is still prevalent, but there are more and more families moving in,” Elizabeth says. “The area offers a lot more than just the strip of popular bars and pubs on Third Avenue.” Murray Hill stretches from 23rd to 40th Streets, east of Fifth Avenue. Buildings like the Biltmore (on 29th Street) and Windsor Court (on 31st) swarm with the barely-21 crowd. But young couples are increasingly discovering the locality’s perks—from well-regarded public schools to the Kips Bay movie theater and Madison Square Park. Most important is the stock of relatively affordable two-bedroom apartments —some in doormen buildings with amenities. According to brokers at Prudential Douglas Elliman, the average price per square f