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Old 10-12-2007, 06:57 AM
 
9 posts, read 32,230 times
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Default Cost of Living in NYC

Hello Everyone,

I am looking for some insights on the cost of living - monthly average - in NY.
Some useful data: cpl early thirties, both educated, well paid job (in midwest though - i felt i had to say that), love art, history, cuisine, sports etc.
I know what they say that in NY "sky is the limit", but what i am looking for is more of a reasonable average monthly/cost for two people.

Thank you in advance for your time and thoughts.
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Old 10-12-2007, 07:57 AM
 
Location: NJ/NY
10,525 posts, read 10,607,149 times
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Would you be restricted to Manhattan, or would you consider Brooklyn/Queens? Do you want a 1 Bedroom or 2 Bedroom apartment? How much space do you need? Are you willing to give up your car?
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Old 10-12-2007, 08:20 AM
 
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Apologies if i was short on info:

As long as it's a good area any place is fine; Manhattan, Brooklyn, Queens - Astoria would be nice. We can start with 1 bdr and see where we go from there. We have two cars (we can give up one).
Just looking for an average figure, so we know what to expcet.

Thanks.
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Old 10-12-2007, 09:16 AM
 
Location: Bronx, NY
1,526 posts, read 3,774,302 times
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Easiest way to find out is to look at online classifieds: NY Times, NY Daily News, etc. Select the number of rooms you want, check off the box for Astoria, and you'll get an idea. Also keep in mind that apts can be very small here. Splitting the rent can help though.

Need to know how much you are willing to spend on rent, max. This will determine a lot in terms of what areas you can afford to live. Most "safer" areas are sky high, though some areas of Queens and Brooklyn can be cheaper, but if they're safer they're usually farther from Manhattan. The Bronx IMO is the cheapest borough by far, but most people are scared of it, and again, the "safer" areas are more pricey.

Would help to have some idea of your current salary. You might make more in NYC for a comparable job, but rent can eat the difference up and then some.
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Old 10-12-2007, 09:19 AM
 
Location: Bronx, NY
1,526 posts, read 3,774,302 times
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If you live in NYC proper, a car is usually more of a hassle and expense than it's worth. Others will tell you the same, I'm sure. Parking is very tight. If you can find a spot on the street, you have to move your car to the other side every am so they can clean the street. Finding a parking spot can be hell on earth. Parking lots/garages are very pricey. Plus gas, maintenance, etc can really eat into your budget big time, esp with the very high rents here.
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Old 10-12-2007, 09:24 AM
 
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First, how much are you willing to spend on housing? Do you want to rent or buy?

Yes, DITCH THE CAR. Such a pain. I've calculated that, NOT counting the car itself, it costs about $10,000/year to maintain a car in Manhattan. You can rent a LOT of cars on the weekend for that kind of money, without the headaches associated with ownership.
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Old 10-12-2007, 09:46 AM
 
Location: Bronx, NY
1,526 posts, read 3,774,302 times
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Yes indeed...a car is a major nuisance and usually totally unnecessary in the city.

And rent vs. buy is very important too. If you can make the down payment and the mortage/maintenance, buying can sometimes/oftentimes be cheaper than renting, and many coops include gas and electric in the monthly maintenance as well. Better amenities for the money as well. But most Manhattan, of course, is tough--virtually impossible-- unless you have lots of dough, so an idea of your budget would be useful.

Outer boroughs you can still get a good deal on some coops, depending on where. And prices will likely increase on your coop, so it's generally considered an excellent investment, and that's putting it mildly. Renting is a losing proposition in the city, as it will only go higher and you only make the landlord richer. Plus you are vulnerable to getting pushed out altogether.
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Old 10-12-2007, 09:55 AM
 
9 posts, read 32,230 times
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Hmm... i really like my car though. But from what you mentioned it's sort of a bugger.
Rent is the first option - up to $1400.
Job field: my partner & I are both in accounting/finance. Right now we're at 110K/year (combined). I am hoping NY would pay more for this field.

If you live with a partner - husband/wife etc - how much should you make to have a good living - meaning: 1 bdr (good area), active social life etc.
And, ok, no car .

Thank you all for your answers.
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Old 10-12-2007, 10:30 AM
 
Location: Bronx, NY
1,526 posts, read 3,774,302 times
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$1400 for a one bed is not much--even in "bad" areas. You may be able to find something in Brooklyn or Queens farther from Manhattan, or in a sketchy area that may get better if you get in on the ground floor. Others can tell you more about Brooklyn and Queens. You might be able to get something decent in a nicer area of the Bronx--maybe. Check out Bronx rentals--Riverdale area for starters (others can tell you if a given address is really in Riverdale proper). But...in some parts public transit may be tougher, and maybe...just maybe...it might be worth it to keep the car if you're not near a subway and/or Metro North line. Riverdale again will be a longer commute to Manhattan, but more middle class in feel, with shopping and dining options etc. A lot may also depend on where your job is, in terms of commuting options.

Anyone have the link to that salary/cost of living comparison chart for other cities vs. NYC?

Once again, I highly recommend you do at least a cursory search of the online real estate listings. And again, keep in mind that one beds can be small. The outer boroughs often are more spacious, esp. further from Manhattan. What is the minimum square footage you require? A really "nice sized" one bed would be 750-800 square feet. Many one beds are considerably tinier than that.
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Old 10-12-2007, 10:43 AM
 
Location: Bronx, NY
1,526 posts, read 3,774,302 times
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Quote:
Originally Posted by NJ Chutzpah View Post
Ridgewood, Maspeth, Middle Village, bayridge, gravesend, sheepsheads bay, bensonhurst,
Here's a reply from a related thread. These are in Brooklyn and Queens, and I believe they are all considered safe areas, but probably longer commutes. Do an online search and see what the prices look like.

Also try sublet.com and rent.com.
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