Moving To Manhattan (Hope: apartment, rent, health insurance)

[louiedino11]

I was wondering what it would cost to move to Manhattan. We live upstate in a nice home lots of room. I have a wife and one child. We both have family there but obviously would have to live in our own apartment(3br or larger 2br). If we both started out making 30-40k a year would that be enough to live. that's an average 70k for the family income. If we lived in an apartment 2k-2500? Also would not want to live in a bad area, just for my daughters sake with schools and what not. I have 2 vehicles (total of 16k) I would sell. so worst case scenario 10-15k starting. please let me know, be blunt i don't care i appreciate honesty

[Jsciusco]

you should look at the outer boroughs. Manhattan is overpriced. your income could get you a nice 2 bedroom apartment in Queens. Hopefully you were not planning on Manhattan. 70k for a family of 3 would be almost impossible if you had to pay for childcare , groceries, phone bill, etc. and for what.... the 212 area code?

*I am editing this post* You really REALLY should not try to do Manhattan. Families that have your HHI (on 2 incomes, no less) are the ones who leave the city. the outer boros are your friends. you coudl get a 2 bedrrom in Queens- in a nice safe commutable area for 1500-1800

[jcoltrane]

Those salaries would put you near the bottom strata of incomes.

It would be very difficult for you to afford the few neighborhoods with good schools. Good schools equal expensive rents, and even affording the right neighborhood will not guarantee a spot in the local school.

Demand is great and there are not enough space for all. It is likely your child w/b placed outside the district.

A lower middle class income for a couple is in the neighborhood of $100K. $150K w/b a minimally acceptable income for a family, and would still require sacrafice and frugality; and your options w/still be somewhat limited.

At $200K you have a lot more options and the cost of private school is within reach.

Schooling s/b your number 1 priority. Your salary limitations allow you very few acceptable options. NYC really isn't the best place for marginal income and family responsibility.

[Jsciusco]

I totally agree w j coltrane!

at 100k my family is doing "just ok" in an outberborough neighborhood. we are barely saving anything and I get anxious thinking about retirment. Our public school is *blech* so we pay $3k/year for Catholic school-- the worlds' cheapest private! 70k in Manhattan for 3 people is tough tough tough. if one parent earned the 70k it woudl be a tad easier becasue then presumably there woudl be ap rent at home for childcare. but even still darn tough

[louiedino11]

yeah i figured that. I mean 70k would be worst case starting out. I like to plan worst case with everything so there is not many surprises. Usually its about 30% of an income for housing , so If i did 40% of 70000. that would be 28000. divided by 12 is a little over 2300. thats how i figured it. that out of the 70000 i would have 42000 for everything else. say 5k a year for utilities, approx 400/month for food ( about another 5k) and say 15k for childcare for the year that would knock it down to 17000 - transportation 104 a metrocard so thats 312 plus cabs or whatnot so say 500 a month. which is 6000 so There would be 11k left over so approx another thousand a month for anything else. and this is Starting out, not including raises and what not later down the road

[Jsciusco]

But your 70,000 is BEFORE TAXES!! lop off like 25% at least. LOL you can't forget taxes!
And what about health insurance? even if you ahve an employer that offers it a family will pay $300-400 unless you get it for free through your union.

if you need a full time babysitter, THAT could cost you $2400/month! (most full time nannies get close to 600/week). Want to do daycare? depending on the age of the child , daycare could be 1500-2000/month.

Presuming both you an dyoru wife willb e working, you will each need a metro card. the monthly card will cost you $104... each. so that is another $208 for your budget.

Waht do you plan to do for school? the good public schools are very desirable... and the rens in those zones will reflect that. you won't find a bargain apartmetn in a good school district. so you will need to budget mony for eithe increased rent or a private school-- ethe lesast expensive private option is parochila-- that is about $3000 to $4000/year. You don't want parochial-- then budget $25,000-30,000 for a secular private school.

See how the outerbouroughs are more reasonable?

you need to rework your numbers.

Adn again I ahve to ask y ou why you are hung up on Manhattan? working class people can get by in the other 4 boroughs. the wealthy typically choose Manhattan (or the poor who make $20k/year for their family of 4 may get public housing.)

[louiedino11]

im saying 70 after taxes. Other boroughs are fine but would like to live in manhattan who wouldnt. thats why im asking questions.

[Jsciusco]

many of us woudl not like to live in Manhattan because of all the negatives including the cost.

[louiedino11]

really i have family in brooklyn and in manhattan. I like manhattan never lived there so maybe i dont know what you know, but have stayed there numerous times. where do you live jsciusco

[barkomatic]

I don't think this will work unless your family can provide substantial assistance.

Why do you want to move out of your beautiful upstate home to what would clearly be a downgrade in your standard of living?