Manhattan for single gal on $78k +/-? (New York, York: apartment, rent)

[newyorkobserveher]

Hello all!

Lifelong New Yorker here, originally from Queens.

I've lived abroad in Europe for two years, but am back in New York since 2010. I've been working my ass off since then, and I am finally in a position where I earn around $78,000/year (after taxes). I work two jobs (bilingual customer service supervisor for a software company and bilingual concierge for a hotel) and do freelance translating. I live at home with the folks now, so am able to save all my money. I have very minimal student loan payments and no car.

My income fluctuates due to translations and how many private clients I can handle, but never dips below that $78,000/year mark. One or two books translated per year plus a few more large projects can push that number up considerably well into the 80s and possibly 90s.

It makes more sense for me to live in Manhattan seeing as I work in Manhattan. However, as someone who has lived in NY all her life I know it's very expensive (Sad, really. No more middle class there except for NYCHA and various Mitchell-Lama buildings. I wish there were more room for middle class folk in our city). I don't go out much, am not a drinker nor a partier but I do love Manhattan and would love to be "near all the action," as well as closer to work. I do like to go out to eat, though but generally don't lead an extravagant lifestyle.

How much rent could I realistically afford? The golden rule is no more than 30% monthly income, right? That should be around $1,950/month but seeing that I do have extra income from translations, is there some wiggle room?

With that budget, what areas should I be looking at? I'm thinking LES/Chinatown (which I absolutely love and know very well).

Advice?

[ManhattanLover]

Wow, do you even have time to live with all that work? I plan to start escorting once I make my move so I can have time to actually enjoy manhattan.

[newyorkobserveher]

Hahaha. Good question!

I absolutely do. I work 9-5 and four days a week work the night shift doing the concierge bit (at home on my computer). Translating hours fluctuate. It's actually very doable and I sometimes do get weekends all day free for the most part. I'm very content and I am young enough that these are the years I *should* be concentrating on working.

[Cida]

I think the standard used to be 25% of your income, but people routinely do 50% if they can get away with it.

[newyorkobserveher]

I wouldn't be even REMOTELY comfortable with that.

I am a saver by nature and paying that much on rent would put me into panic attack mode.

It's sad that the middle class at large can't afford Manhattan anymore. Would staying under $1,900 be the way to go? At that rate, I'd probably end up living in the types of tenements that my grandparents did when they first moved here (not complaining! I like small spaces. My place in Italy was 450 sq. feet and I grew up with three other people in a 700 sq. foot apartment in Queens).

Isn't it funny how things come full circle?

[bluedog2]

Originally Posted by newyorkobserveher

How much rent could I realistically afford? The golden rule is no more than 30% monthly income, right? That should be around $1,950/month but seeing that I do have extra income from translations, is there some wiggle room?......

Don't know where you got that 30% of income golden rule.My mother told me 25 % of net income and that's pretty much how I have lived my whole life.My income is similar to yours and I would never think of spending 1,900 or 2,000 on housing

Don't know how ,on 80,000,you could pay taxes,save 20 % and enjoy life in NYC and life outside of NYc(travel,etc) if paying 20,000 or 24,000 just to keep a roof over your head.

[nycangel]

If I can make less then $30,000 a year and pay $1600 on rent, you will have no problem with making $78,000.

[john_starks]

you can easily pull it off

[Henna]

OP stated that the 78K is after taxes. This might mean more like $100K pre-tax income.

[availableusername]

Originally Posted by nycangel

If I can make less then $30,000 a year and pay $1600 on rent, you will have no problem with making $78,000.

Woah how does that work?