{ "media_type": "text", "post_content": "Can I afford a 2k rent stabilized luxury studio on a 75k salary? Trying to justify rent since it’s in midtown west😭", "post_id": "6105c1485471900024d4e7fa", "reply_count": 27, "vote_count": 4, "bowl_id": "5aa3ebca6a56fa0013ec82de", "bowl_name": "New York City" }

Can I afford a 2k rent stabilized luxury studio on a 75k salary? Trying to justify rent since it’s in midtown west😭

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That sounds ruff

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AD2 you know I just do pixels mate

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Yes, but only if you’re smart with other spending. I managed a $2k rent on $82k. Capitalize on the rent stabilized and it becomes more affordable with every salary increase. Be sure you’d be willing to stick around for at least 2-3 years

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Deloitte continues to pay its employees 🥜 🤣

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I managed $2500 on $60k so it’s doable with some proper budgeting. I’d do it if you’re planning on staying for a few years. You won’t get a better deal. You’re rent isn’t going to go up but your salary will continue to rise.

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How did you even swing that with the 40x requirement? Guarantor?

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It’s worth scrimping if you can stay for a few years rent-stabilized. Your income will go up but your rent won’t go up as fast.

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If you have no debt then you can swing it. I paid $1300 + $600 in student loans monthly when I made $75K, so it’s possible to do as long as you don’t spend too much going out.

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I did $1700 on $62,000 so it’s possible. I just cooked my own lunches and several dinners, pregamed vs drinks out, stuff like that. For rent stabilized i would take it. As someone else mentioned your salary will increase more than your rent. It’s usually 1-2% annually, whatever the Board decides

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I don't recommend it especially if you like going out. You'll have a prime location sure, but the ability to enjoy all the city has to offer is going to be seriously hampered. I suggest Queens or Brooklyn, or if you just want easy access to Manhattan and not the other boroughs, then try Jersey.

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What’s that like half your monthly takeaway? Get some roommates in LIC

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Currently paying 2k on 75k salary, had to cut back a little bit on the discretionary spending but it's def possible. Plan is to get a new job soon anyway that'll pay more, but im not sweating money even if I don't

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I was able to swing $2800/mo on $75k salary but I knew that 1) I had a $30k bonus coming at the end of the year and 2) I would get quick pay bumps and be making six figures salary within two years. No student loans either. It was a very, very tight budget though. $2k sounds like it should be okay if you watch your spending

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Yes but you won’t be able to save much.

You’re gonna want the money to go out and do shit. Nothing is worse than feeling overly budget restricted.

Just live through a year, you’ll be fine eventually with the yearly raise.

I paid the exact same on the exact same salary. So, yes.

Yes, if you know how to budget your money

Do it and plan to stay in the apartment for as long as possible. Stabilized rents do go up but only incrementally (1-3%) each year depending on the guidelines set forth by the rent guidelines board…

Where did you find this apartment if you don’t mind me asking? Looking for a studio as well

I managed 2k around 75k salary and it was doable but not easy - I also paid off my loans ahead of time but I was unable to save much

Not really. Not very prudent unless you think the rent stabilization will keep it from growing to high as you progress in your career and you plan on staying for some time. Overpaying now could be worth it if leads you to saving later but for 1yr it’s expensive. Standard metric is usually gross annual salary of 40x rent; I think 50x is more prudent

I’ve been to Roivants offices!

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