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I made 55k the first year in nyc. I paid about 1400 per month with two roommates. With a strict budget you can do it for sure - once i got a raise to 70k after the first year i felt far more freedom. Grocery shop at trader joe’s. Take public transport whenever possible. Pregame hard before going to bars.
Same
Divide annual income by 40 so the most you should pay on monthly rent is $1625 (to not have a guarantor on your lease). You could definitely afford an apartment with a roommate. Brooklyn and Queens are also options. Hope I was helpful
Rising Star
50/30/20 rule doesn’t completely apply to HCOL urban areas. It wouldn’t be reasonable for 70% of the population plus. You don’t pay for automobile expenses as you would in other areas.
Try for $1200-1300. You’ll do OK assuming your career trajectory has proper compensation increase.
Refrigerator box- anywhere you want.
Unless you are making over 200k no dependents dont move to Manhattan
look buddy, it’s clear that you just require more money to be happy. That’s cool. I know you can be happy with less, because all my friends and I make <200k and we live a great life, travel out of the country, save, go out, etc. regardless, this isn’t even worth a discussion as the person is making 65k a year in which I’m in agreement that living in NYC will be more tough than fun.
General rule of thumb is no more than 1/3 of take-home pay. Napkin math would tell me no more than 1350/mo in your situation, but that probably doesn’t allow for much saving.
No savings means it’s not doable.
Well it really depends on earning potential. I made 65k my first year in New York but knew that my earning would grow a lot starting yr 2. At the end of the day, it wasn’t a big deal that I didn’t save much during my year 1; instead, I am glad I had a decent apartment to recuperate in (first year nyc was intimidating).
I would like to emphasize that I did had raining day fund saved up prior to moving in case of emergency (medical expense etc). Rainy day fund is essential ‼️
Depends on what you can afford/put up with realistically. There are lease takeover and sublet posts on the Gypsy Housing and Gypsy Housing NYC facebook groups (beware of scammers!!) There are private bedroom/shared bathroom posts on there with 2-5 roommates for $800-900/month or sometimes as low as 1.1k for 1br in a 2bd1ba, mostly in Bushwick/Bedstuy/prospect park area, but some in washington heights (Manhattan, past harlem). In lower manhattan/more popular parts, I would say 1.5k is average with 1-2 roommates.
Move to Hoboken/Newport/Union City/ Jersey city area. Better on rent and you’ll save some money on taxes. Easier to travel into the city than Brooklyn
Rising Star
You can swing it. Rents are dipping. Manhattan is probably becoming as cheap as Brooklyn. Find a roommate and get a deal. There are so many new buildings popping up and many buildings emptying out. Inventory will continue to rise IMO. Winter here is not going to be as fun, so if you can wait a little longer I bet you’ll find even a better deal.
When I moved to another HCOL making 68K. Lots of student loans, car payment, car parking, car insurance, and $1200 rent plus utilities. Made it work. Was a little tight for a bit but salary climbed quick.
You’re probably looking at brooklyn or queens. I used to live in busckwick (Brooklyn neighborhood) which is a nice gentrified area and I was in a brand new building on a 4 bedroom, 2 bath apt for $900/month (my part only). My roommates were great so it was a great situation. Check out Astoria in queens (that’s my current neighborhood). Both very accessible to Manhattan (Astoria is even closer).
‘Which is a nice gentrified area’ 🙄
I personally told myself I wouldn’t move to NYC until I hit 6 figures and I eventually did at 26 years old. Everyone has their own route but I’d wait if you’re super young. 🤷🏻♂️
Move to downtown Newark. It has become gentrified and really accessible to the city, airport, major highways etc... also a lot of really nice new apartment buildings
Honestly, I think 1200 is your max and you could stay in Queens/Astoria/LIC. If you’re looking for short term rental (2-4 months), my friend is living in Stuytown right now can help you out. Rent is between 1400-1500 with 2 roommates.
I live in LIC for a bit higher than that budget. The commute is relatively the same but many buildings in UWS are walk-ups and I don’t go to the gym everyday...
You can also do parts of jersey city
Probably around $1100, including utilities.
If you can do roommates do that if not a sub 1700 studio somewhere is your best bet.
Upper east side is on the cheaper side for manhattan too if you’re in a walk up
You’ll be fine. Made 41k a year out of college in 2014
Ok boomer
I made between $54k-60k my first five years back in the city after college— paid half of (lived with SO) between $900-$2500 rent during that time, with $1000/month in student loans. Lived in Washington heights, morningside heights, and upper east side. No savings, but perfectly doable.
Was in a similar situation when I first moved to nyc and made 65k and had student loans. My rent was 1300 with 2 other roomies. Made doable but I also traveling a decent amount for work so that helped keep cost down
Oops and was in midtown