Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I have been flirting with the idea of living in NYC for awhile. People seem to give a lot of different numbers in terms of how much it takes to live there. I want to know how much it takes to live there COMFORTABLY. Keep in mind I don't have to live in Manhattan, as long as the commute is reasonable (under 30 minutes). I like dining out often, theater, going to art galleries, and high-end shopping. I also like escaping especially in the summer as I would hate the city then (keep in mind I work year-round). How much income do you think it would take to live my lifestyle in New York City?
I have been flirting with the idea of living in NYC for awhile. People seem to give a lot of different numbers in terms of how much it takes to live there. I want to know how much it takes to live there COMFORTABLY. Keep in mind I don't have to live in Manhattan, as long as the commute is reasonable (under 30 minutes). I like dining out often, theater, going to art galleries, and high-end shopping. I also like escaping especially in the summer as I would hate the city then (keep in mind I work year-round). How much income do you think it would take to live my lifestyle in New York City?
I saw a guy over on craigslist once advertising "free room and board in Manhattan for an open minded female"
A 30 minute commute to most Manhattan offices IS an apartment in Manhattan. Except for FiDi, you could live in some of the nice, close in neighborhoods of Brooklyn like Brooklyn Heights.
Here are estimates....you decide what part of the scale you fall in and make a budget from there:
RENT:
1. Are you ok with a studio (300sf or less) in a walk-up building (no elevator, no doorman)? If so, budget $1600-1800/mo. This will likely include an "original" or slightly renovated kitchen and bathroom- no granite, no rainfall showerhead, no dishwasher, etc.
2. If a studio is ok, but you want a doorman/elevator, budget $2200-2500.
3. If only a 1br will do, but you're ok with walk-up building, budget $2000-2500.
4. If only a 1br will do AND you want a doorman/elevator, budget $2800-3300.
To get a first "stab" at your income needed, multiply your desired rental range x 40 to find out what income you need to qualify for that amount of rent.
ENTERTAINMENT:
1. Dining out "often". If causal Thai or pizza (no alcohol) is what you have in mind, budget $7-15/meal. If it's a 2-course (salad & entree) with a glas or two of wine, budget $40-60 per meal. If you only eat at "name brand" restaurant (Bobby Flay, Mario Batali, etc), budget $100+ per meal.
2. Art galleries- free to enter, $500 to $50M to buy something.
3. Upscale shopping: do you mean Ann Taylor/ Anthropologie/ Banana Republic? If so, $100-150/mo should get you 1-3 pieces of clothing/accessories per month.
If you mean Bloomie's / Bergdorf/ Saks, $500-1,000 per month would be a "bare bones" designer shopping budget- you could get a pair of shoes or 2-3 dresses/tops per month. Buy a bag and you've blown 2-3 months worth of shopping budget.
Bottom line- if you have a job where you're making $150-200k outside NYC and you're single, you can very much afford to move to the city and have a great life on $200k or so. Just don't forget taxes can eat up to 40% of your gross....ouch!!
I have been flirting with the idea of living in NYC for awhile. People seem to give a lot of different numbers in terms of how much it takes to live there. I want to know how much it takes to live there COMFORTABLY.
The "comfy" formula is generally rent x 40, a formula seen here and on other sites. Not everyone agrees with it, feeling the 40 is too low for comfort. So maybe a step up in comfort would be rent x 50, then x 60, and so on? Everyone's different. That's the thing.
Basically you are paying for the history and everything that happened in NYC in the past because NYC sure as hell is not the same place it used to be back in the days.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
