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I am a 23 yr old and will be moving to NYC in about 6 months. I currently make about $55K a year. I would really appreciate any input as to the best place to live for the money. I am looking to spend less than $1300 a month in rent and would like to live in Manhattan. Any ideas on locations? It seems the upper east side might be ideal.
Also, I am trying to put together an accurate budget. I have listed the numbers I project now per month. If you have any suggestions for changes please let me know. Just as a side note - I don't drink so I don't need to plan for alcohol in the budget.
Cable, gas and electricity are not usually included. Would cable include internet? If so you are probably going to pay around $80+ for that. Not sure you are going to be able to find a studio in Manhattan for $1,300. Perhaps you could consider a roommate? If you considered other boroughs you would have more luck. You should go through the posts and get ideas on some other areas people have mentioned.
Give a quick look on craigslist to get an idea of rental prices so you can get a better idea of what to expect.
Have you done much research or are you just starting the process now?
I have done some research on craigslist as well as other rental property websites. So far, I have found at least 10 apartments that include gas/water/trash in the rent for the range and location I am looking for. I also have a friend that lives in the upper east side for less than $1300. Just not sure if this is common or if I am missing something. Also, unsure if the rest of my budget is reasonable.
Reasonable depends on your lifestyle I suppose. I am curious how far UPPER you friend lives and how you found so many in that price range. Of course its not impossilbe, just pay attention to the address. Keep in mind that if you are not happy with your apartment and neighborhood, you will be unhappy b/c your budget doesnt leave too much room for activities. Again, its not impossible but it depends on your lifestyle. Manhattan is a great city but it is also very expensive.
Read the other related thread, there is a lot of great info. there. One person said do it when you are young - you will never regret giving it a try and I totally agree. I also agree that it is for two types of people: the young and broke and the wealthy. Give that thread a read. Great advice there. Good luck!!!
I would say that $1300 for a studio in a good area of Manhattan is definitely an exception. My experience is that there's a big gap between what's advertised and what's really available. But if you have a lot of time to look and can stay with a friend in the meantime, maybe it's possible. Gas and water might be included in the rent. Electricity - not likely. Cable - I've never seen that included. We pay around $100 a month for the cable and internet (and we don't even have HBO...). Yes, you will need renter's insurance, it will probably cost between $100 and 200 a year. Since I started tracking my expenses, I notice how little things like haircut, laundry, dry cleaning can add up. How about clothes? Gym membership?
strawberry, thanks for all your input. I really appreciate it!I will take a look around some more of the other posts.
As far as the apts I found them on craigslist, nycdwellers.com, manhattanapts.com, triumphproperty.com, and a few other sites. Hope that helps. My friend lives in the 90's. I haven't gotten to visit her apt since she moved but she says she loves it.
As far as how far upper is too far - I could use some help on this. I have noticed most of the apts I have seen in my budget are in the 90's and above. bad area? good area? just ok?
the main thing, is I want to make sure I can survive on the $55k a year without eating bologna every meal
All you have listed for phone is $40. You are going to pay alot more than that, esp. if it's your only phone (you don't have a land line listed). Even if you find a plan you like for 39.99 (yes, they may be out there with limited minutes) there is ALWAYS at least 12 dollars on top of that for taxes and fees here in NY. When I had a 39.99 plan, my actual bill was always around $52, and no, I wasn't texting or anything extra like that. If you find a plan you can deal with for $40, then put $52 in your budget.
$1300 sounds quite low for a studio in Manhattan. You can probably get one for $1300 if East Harlem, but I don't recommend it (some realtors like to call East Harlem the Upper East Side). And just because you have one friend who found an apt. for this price does not mean they are readily available. I have friends all over with all sorts of amazing deals, but generally the way they got them was through a friend, or possibly through a broker (but then you have to figure a broker fee into your budget).
I think it makes sense to look for a roommate situation if you really want to live in Manhattan. That way you save not only on rent but also on utilities, as you can split the cable and electricity bills at least.
The unlimited monthly subway fare is going up to 90-something I think.
And $50 sounds too low for 'other' - this is supposed to include all non-food items like cleaning supplies, household items, services, dry cleaning, medical expenses (including if you have to make a contribution to your employer), cosmetics, pharmacy items, etc?
And, to StrawberryOctober, Manhattan isn't a city.
Valuable input for a person seeking advice.
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