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Old 12-02-2014, 03:15 PM
ykm ykm started this thread
 
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Hi!

I just got a job offer in NYC and will be relocating from a different state. I don't know much about the area and would like advice on what are places to look for cheap apartments in a safe neighborhood.

1) The job is on west 23rd ave in Manhattan. My salary would be around 52k. I'm assuming that if rent should be 33% of my monthly take-home salary, that puts me at about less $1000/month on rent. Is that right?

2) How much does commuting cost and how to calculate it?

Thank you!
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Old 12-02-2014, 04:43 PM
 
Location: New York, NY
624 posts, read 705,484 times
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Quote:
Originally Posted by ykm View Post
1) The job is on west 23rd ave in Manhattan. My salary would be around 52k. I'm assuming that if rent should be 33% of my monthly take-home salary, that puts me at about less $1000/month on rent. Is that right?
For $1000 / month you're probably going to have to look at studio apartments in the Bronx and possibly New Jersey (not sure how the prices are out there). I'm not sure if you can still find apartments that cheap in far out Brooklyn or Queens. If you're willing to live with roomates, then a lot more options will open up for you.

Quote:
2) How much does commuting cost and how to calculate it?
An unlimited metro card is a little more then $100 / month. Go to the MTA website for details. If you have a car get rid of it before coming to NYC.
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Old 12-03-2014, 06:57 AM
 
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Originally Posted by fmatthew5876 View Post
For $1000 / month you're probably going to have to look at studio apartments in the Bronx and possibly New Jersey (not sure how the prices are out there). I'm not sure if you can still find apartments that cheap in far out Brooklyn or Queens. If you're willing to live with roomates, then a lot more options will open up for you.



An unlimited metro card is a little more then $100 / month. Go to the MTA website for details. If you have a car get rid of it before coming to NYC.
It might be possible to get a studio apt. in certain areas of Queens for approx. $1000 a month but there aren't many plenty available at that price.
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Old 12-03-2014, 08:38 AM
 
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For that amount of money, you're so much better off trying to find a roommate situation in a nice neighborhood. Look for people your own age with similar interest if you can. It will give you a cheaper place to live and widen your social circle as well. Astoria might have nice options for you. An unlimited monthly metro card is around $113 or so, but I think it might be going up soon. If you live near work, you won't necessarily need an unlimited. Good luck.
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Old 12-03-2014, 09:39 AM
 
10,648 posts, read 20,806,009 times
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Quote:
Originally Posted by ykm View Post
Hi!

I just got a job offer in NYC and will be relocating from a different state. I don't know much about the area and would like advice on what are places to look for cheap apartments in a safe neighborhood.

1) The job is on west 23rd ave in Manhattan. My salary would be around 52k. I'm assuming that if rent should be 33% of my monthly take-home salary, that puts me at about less $1000/month on rent. Is that right?

2) How much does commuting cost and how to calculate it?

Thank you!
The formula that most landlords use to allow you to rent an apartment is 40 x monthly rent = your annual salary before taxes.

So this would actually allow you to rent something for up to $1300, which puts you in the range of being able to afford a small but decent studio in certain areas of Queens that are near the subway. I am not sure exactly what the rents are these days, but you could try Astoria, Sunnyside, Woodside, Jackson Heights, Rego Park, Forest Hills, Kew Gardens. All of those have at least some subway access.

You can use the Google maps transit function for directions to see how long commutes are from these neighborhoods. When you select directions, just click the train icon.

If you can find a decent roommate situation, you will be able to rent in a neighborhood that has more amenities, closer to work, etc. and you may also be able to avoid having to buy everything (household furnishings) if you go into an already established apartment to begin.
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