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View Poll Results: Which city is more fun and better to live in? Chicago, Illinois or New York City, New York?
Chicago, Illinois 35 37.63%
New York City, New York 58 62.37%
Voters: 93. You may not vote on this poll

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Old 04-27-2015, 07:28 AM
 
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Quote:
Originally Posted by UAE50 View Post
Brooklyn and Queens are expensive.






Even to buy

No I live in Brooklyn and my 2 bedroom in Bedford Norstrand is only 1600 a month and my building was renovated a year ago.

You can find a lot of steals in Brooklyn. I wouldn't go by that chart
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Old 04-27-2015, 07:47 AM
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NYC if you can afford it. I'd rather live in LA than Chicago.
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Old 04-27-2015, 08:01 AM
 
Location: Crooklyn, New York
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Quote:
Originally Posted by Staysean23 View Post
No I live in Brooklyn and my 2 bedroom in Bedford Norstrand is only 1600 a month and my building was renovated a year ago.

You can find a lot of steals in Brooklyn. I wouldn't go by that chart
You mean you live in a 2 bedroom in Bed-Stuy on Nostrand Ave for $1600?

I'd have to say that's extremely unusual. In fact, CL doesn't have any listings for a two bedroom in Bed-Stuy for under $1600.

$1600 to $2000: 19 listings (avg $1805)
$2000 to $2400: 24 listings (avg $2145)
$2400 to $2800: 22 listings (avg $2535)
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Old 04-27-2015, 08:03 AM
 
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Quote:
Originally Posted by BajanYankee View Post
You mean you live in a 2 bedroom in Bed-Stuy on Nostrand Ave for $1600?

I'd have to say that's extremely unusual. In fact, CL doesn't have any listings for a two bedroom in Bed-Stuy for under $1600.

$1600 to $2000: 19 listings (avg $1805)
$2000 to $2400: 24 listings (avg $2145)
$2400 to $2800: 22 listings (avg $2535)
CL isn't really a proxy for rents, though. Half of the NYC apartment stock consists of rent-regulated apartments, and those never reach CL or other public venues.

I would say there are plenty of $1600 2 bedrooms in Bed Stuy. Heck, there are even $200 2 bedrooms in prime Manhattan. You'll just never see them listed (they're in NYCHA).
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Old 04-27-2015, 08:08 AM
 
Location: Crooklyn, New York
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Quote:
Originally Posted by UAE50 View Post
Brooklyn and Queens are expensive.






Even to buy

These numbers must be for new construction units on the market. There is no way the average one bedroom apartment in Brooklyn is $2,759.
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Old 04-27-2015, 08:19 AM
 
Location: Crooklyn, New York
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Quote:
Originally Posted by NOLA101 View Post
CL isn't really a proxy for rents, though. Half of the NYC apartment stock consists of rent-regulated apartments, and those never reach CL or other public venues.

I would say there are plenty of $1600 2 bedrooms in Bed Stuy. Heck, there are even $200 2 bedrooms in prime Manhattan. You'll just never see them listed (they're in NYCHA).
But rent-controlled apartments are of little concern to professionals moving to NYC (a category I'm assuming the OP would fall into). In 99.9% of cases, a new transplant to NYC will be paying market rent.
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Old 04-27-2015, 08:57 AM
 
Location: Crooklyn, New York
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Quote:
Originally Posted by Frank Bones View Post
I think New York is great for two kinds of people:

1. Recent college graduates
2. People with a lot of money

It's preferable that both conditions are met, but either one will do.
Or singles in their 30s (and often 40s) who don't feel much pressure to settle down and start a family.

Assume you're 30 and just reached the $100,000 salary mark. Your bi-weekly pay stub will look like this (assuming no exemptions). It wouldn't be easy living on your own.

Bi-weekly gross pay - $3,846.15
Federal withholding - $785.66
Social security - $238.46
Medicare - $55.77
NYS Tax - $217.99
NY SDI - $1.20
NYC Tax - $134.65
Retirement - $350.00 (assume employer matches)
Health, etc. - $150.00

Bi-Weekly Pay Stub - $1,912.42
Monthly income: $3,824.84

Let's move on to expenses.

Rent (Morningside Heights studio) - $1,895
Student Loans: $750.00
Utilities (incl. cell phone): $250.00
MTA: $116.50

Monthly expenses: $3,011.50

That's not a whole lot of money left over. That's before getting to important things like, say, eating, Uber, movies, cupcakes, shopping, cover charges at clubs, alcohol, dates, credit card payments, concerts, and tons of other stuff young professionals spend money on. This person would need roommates.

Of course, there are people who live in Manhattan with more pay and lower expenses than what I've outlined above. I was just trying to give a realistic snapshot of a young professional who's doing well but not killing it by any stretch of the imagination.
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Old 04-27-2015, 09:29 AM
 
Location: Crooklyn, New York
27,613 posts, read 24,814,812 times
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Here's my calculation for a recent college grad with a $65,000 salary.

Bi-weekly gross pay - $2,500.00
Federal wittholding - $411.11
Social security - $155.00
Medicare - $36.25
NYS Tax - $130.13
SDI - $1.20
NYC Tax - $80.81
Retirement - $0
Health, dental, etc - $110

Bi-weekly pay stub - $1575.50
Monthly net income - $3,151.00

Moving on to expenses.

Rent (Morningside Heights with roommate) - $1,450
Student Loans - $320
Utilities - $150
MTA -$116.50

Monthly expenses - $2,036.50

That leaves around $1,110 per month to spend on food, clothes, Uber/Taxis, travel, clubs, dates, concerts, etc. This person will likely not have any savings, but won't be too worried about it in his or her early 20s.
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Old 04-27-2015, 10:22 AM
nei nei won $500 in our forum's Most Engaging Poster Contest - Thirteenth Edition (Jan-Feb 2015). 

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Location: Western Massachusetts
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Quote:
Originally Posted by BajanYankee View Post
But rent-controlled apartments are of little concern to professionals moving to NYC (a category I'm assuming the OP would fall into). In 99.9% of cases, a new transplant to NYC will be paying market rent.
No, anywhere listing average cost of housing paid for New York City would include rent-stabilized, regardless whether those apartments are irrelevant to newcomers.
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Old 04-27-2015, 10:42 AM
 
Location: Crooklyn, New York
27,613 posts, read 24,814,812 times
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Quote:
Originally Posted by nei View Post
No, anywhere listing average cost of housing paid for New York City would include rent-stabilized, regardless whether those apartments are irrelevant to newcomers.
I understand that. My point is that rent-stabilized units are not relevant to the OP or anyone in his situation. If you want some understanding of what you're likely to be paying in rent, then tossing in the projects isn't a wise idea.
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