NYC on a graduate student stipend (New York, Inwood: apartment, rent, crime)
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This is my first post here. I'm from Pennsylvania, and recently applied for graduate school at Columbia. I got in, and my stipend is around $32,000 a year.
I'm trying to weigh my option with Columbia with another offer I got from a school in Boston whose stipend is only $24,000 a year.
I realize the cost of living is slightly cheaper in Boston, so I'm wondering if $24,000 in Boston would take me further than $32,000 in NYC. I have relatives that used to live in NYC tell me that these stipends basically equal out and it would be the same type of life/cost of living if I choose either place.
I don't live an extravagant lifestyle. I am fairly frugal and I like to save. I have about $10,000 saved right now to help with the move into graduate housing for at least my first year.
I'm also thinking about two years down the line if I want to get an apartment in NYC, how much the 40x rent rule would be against me if I wanted to move to a relatively/slightly cheaper neighborhood in Brooklyn, Queens, or the Bronx.
I've been lurking on this forum a lot and I decided to make an account to get some brutally honest advice. Should I also post this in the Boston forum?
This is my first post here. I'm from Pennsylvania, and recently applied for graduate school at Columbia. I got in, and my stipend is around $32,000 a year.
I'm trying to weigh my option with Columbia with another offer I got from a school in Boston whose stipend is only $24,000 a year.
I realize the cost of living is slightly cheaper in Boston, so I'm wondering if $24,000 in Boston would take me further than $32,000 in NYC. I have relatives that used to live in NYC tell me that these stipends basically equal out and it would be the same type of life/cost of living if I choose either place.
I don't live an extravagant lifestyle. I am fairly frugal and I like to save. I have about $10,000 saved right now to help with the move into graduate housing for at least my first year.
I'm also thinking about two years down the line if I want to get an apartment in NYC, how much the 40x rent rule would be against me if I wanted to move to a relatively/slightly cheaper neighborhood in Brooklyn, Queens, or the Bronx.
I've been lurking on this forum a lot and I decided to make an account to get some brutally honest advice. Should I also post this in the Boston forum?
For a comparison, it's somewhat dependent on where in Boston that school is--different parts of the Boston area can cost very different amounts of money. I'd also consider what the job opportunities are and where they are for your graduate program, because ideally, your graduate program leads to employment with far better income than what you get from these stipends.
You may have to work part-time if you don't want to take out loans, even if you live frugally, and you will definitely need to have roommates. Your school may have some employment opportunities. I assume your grad program for Columbia is at the main campus in Morningside Heights. It would behoove you to not have a car as that is a massive money suck especially on that budget, so you need to be considering transit access. There are buses and you can bike as options, though you're most likely want the single straight shot on the 1 train which is the closest station to Columbia's main campus (pretty much right there on campus). Also fairly short walking distances are the A/B/C/D, though the AC for the purpose of commuting to Columbia, go to essentially the same places as the 1. The cheapest neighborhood on the 1 train would be Kingsbridge, the Bronx which is fairly cheap and safe. Some of your Columbia, grad school cohorts will also be living along the 1 train, so you might find that convenient.
Yea, you should definitely post in the Boston forum.
Last edited by OyCrumbler; 03-26-2020 at 09:33 AM..
Is cost of living cheaper in Boston? I just helped my sister get an apartment (she's attending MIT and needed a guarantor) and I was astounded by the lack of places in the price range that I'm used to hunting for in NYC. $32k v $24k is huge, but both totals are tiny relative to the grand picture. You have some benefits with Columbia University having the 1 train all the way to 242nd st. I don't know how to decrease costs in the Boston metro area conversely, the suburbs seem as expensive as the city and I know she's paying more for groceries than I do in the Lower East Side.
For a comparison, it's somewhat dependent on where in Boston that school is--different parts of the Boston area can cost very different amounts of money. I'd also consider what the job opportunities are and where they are for your graduate program, because ideally, your graduate program leads to employment with far better income than what you get from these stipends.
You may have to work part-time if you don't want to take out loans, even if you live frugally, and you will definitely need to have roommates. Your school may have some employment opportunities. I assume your grad program for Columbia is at the main campus in Morningside Heights. It would behoove you to not have a car as that is a massive money suck especially on that budget, so you need to be considering transit access. There are buses and you can bike as options, though you're most likely want the single straight shot on the 1 train which is the closest station to Columbia's main campus (pretty much right there on campus). Also fairly short walking distances are the A/B/C/D, though the AC for the purpose of commuting to Columbia, go to essentially the same places as the 1. The cheapest neighborhood on the 1 train would be Kingsbridge, the Bronx which is fairly cheap and safe. Some of your Columbia, grad school cohorts will also be living along the 1 train, so you might find that convenient.
Yea, you should definitely post in the Boston forum.
It's Boston University. Sorry I forgot to mention. I totally understand needing roommates and I'm definitely okay with that. I just have to get better at networking. I definitely won't have a car if I move to either city. I'll also look into Kingsbridge; never thought of that neighborhood. Thank you for responding!
Quote:
Originally Posted by Javawood
Is cost of living cheaper in Boston? I just helped my sister get an apartment (she's attending MIT and needed a guarantor) and I was astounded by the lack of places in the price range that I'm used to hunting for in NYC. $32k v $24k is huge, but both totals are tiny relative to the grand picture. You have some benefits with Columbia University having the 1 train all the way to 242nd st. I don't know how to decrease costs in the Boston metro area conversely, the suburbs seem as expensive as the city and I know she's paying more for groceries than I do in the Lower East Side.
Can I ask the price range you're used to hunting for? I definitely recognize that the stipends are low compared to CsOL in both cities, but alas, that's what graduate school is like across the board in most places. I've also been doing research on food and utility costs. Any tips I should know?
This is my first post here. I'm from Pennsylvania, and recently applied for graduate school at Columbia. I got in, and my stipend is around $32,000 a year.
I'm trying to weigh my option with Columbia with another offer I got from a school in Boston whose stipend is only $24,000 a year.
I realize the cost of living is slightly cheaper in Boston, so I'm wondering if $24,000 in Boston would take me further than $32,000 in NYC. I have relatives that used to live in NYC tell me that these stipends basically equal out and it would be the same type of life/cost of living if I choose either place.
I don't live an extravagant lifestyle. I am fairly frugal and I like to save. I have about $10,000 saved right now to help with the move into graduate housing for at least my first year.
I'm also thinking about two years down the line if I want to get an apartment in NYC, how much the 40x rent rule would be against me if I wanted to move to a relatively/slightly cheaper neighborhood in Brooklyn, Queens, or the Bronx.
I've been lurking on this forum a lot and I decided to make an account to get some brutally honest advice. Should I also post this in the Boston forum?
I'd make the choice based on the reputation of the school for your field and the career opportunities after you complete your program.
If you do New York, you won't be able to get an apartment without roommates. That's normal, though. If you're really frugal and don't care about eating out or nightlife, you can survive on 32K. You will definitely have to watch every penny and you'll feel poor all the time, but it's possible and plenty of people do it.
This is my first post here. I'm from Pennsylvania, and recently applied for graduate school at Columbia. I got in, and my stipend is around $32,000 a year.
I'm trying to weigh my option with Columbia with another offer I got from a school in Boston whose stipend is only $24,000 a year.
I realize the cost of living is slightly cheaper in Boston, so I'm wondering if $24,000 in Boston would take me further than $32,000 in NYC. I have relatives that used to live in NYC tell me that these stipends basically equal out and it would be the same type of life/cost of living if I choose either place.
I don't live an extravagant lifestyle. I am fairly frugal and I like to save. I have about $10,000 saved right now to help with the move into graduate housing for at least my first year.
I'm also thinking about two years down the line if I want to get an apartment in NYC, how much the 40x rent rule would be against me if I wanted to move to a relatively/slightly cheaper neighborhood in Brooklyn, Queens, or the Bronx.
I've been lurking on this forum a lot and I decided to make an account to get some brutally honest advice. Should I also post this in the Boston forum?
The following is only my opinion.
I know Morningside Heights since the 70's.
If you can bang out a basement apartment as a super I'd say go for it.
Everything is within reach from food to friends if you keep it close to home.
You have access to everything but everything will be expensive.
Save money by fishing off the Hudson? Don't think about it. ( sarcasm)
I would shoot to live deeper into the boroughs but but you will spend your life riding transit.
$32,000 is a poor mans' wages and unfortunately it will be difficult to get by at best.
A job is a must.Maybe two. A car is a must. No question.
Renting farther from Columbia for cheaper rent is a must.
Consider shacking up like a Friends Episode is a must.
I think you would have a better chance in Boston.
Not my liberal cup of tea but then again less crime and better quality of life.
Unless you can bang out at least $100,000 a year New York is not a place to call home.
There's nothing wrong to give New York a shot but be prepared to pack up and go home if it doesn't work out.
I can only hope you win the Lottery or a nice paying job.
Best wishes................
Are you going to TA or be someone's research assistant? You'll be too busy for any type of part time job in addition to your duties. I thought that Columbia had some graduate housing but maybe it's been discontinued. I don't know about BU. Time is everything in grad school so the closer you are to your campus building, the better. I am surprised that the stipend is so low since my kid got a slightly larger stipend for a school in the midwest. After you start school, you might be eligible to apply for some grants to supplement the stipend. Pick the school with the best program and opportunities for your field. That's what will ultimately matter long term rather than a 10 or 15K difference.
COL in Boston is in no way 25% cheaper than it is in NYC. Get a roommate, live in Inwood (conveniently on the 1 to Columbia), no partying.
You should pick based on the quality of the program, but I genuinely hesitate as to whether $24K is survivable in Boston. You will quickly find that many of your cohort are not living on the stipend alone, but rather are married or have parental support.
It's Boston University. Sorry I forgot to mention. I totally understand needing roommates and I'm definitely okay with that. I just have to get better at networking. I definitely won't have a car if I move to either city. I'll also look into Kingsbridge; never thought of that neighborhood. Thank you for responding!
Can I ask the price range you're used to hunting for? I definitely recognize that the stipends are low compared to CsOL in both cities, but alas, that's what graduate school is like across the board in most places. I've also been doing research on food and utility costs. Any tips I should know?
No tips, either choice will be hard. Both places are expensive, and as such the $32k in NYC will go farther than $24k in Boston. I generally look at the $1500-$1800 which will be outside of your range (I prefer living alone). You will need a roommate or many no matter where you go. When I attended NYU, the rent was much cheaper.
Other COL considerations are so negligable that you shouldn't worry about it. Also ignore the advice previously about the car. Why you would want one to go to Columbia is beyond me. Boston University also has 3 green T stops, so no car is necessary there either. I used to grocery shop at the Aldi on 231st, that's probably the cheapest on the 1 line, but I mean, the milk was saving me $24/year. Whatever lol, I stopped going after 3 months of that trek. Non prepared groceries are untaxed in both places.
231st and 238th sts in Kingsbridge will have most of what you'd need, and there's a spot on 225th st with stuff like Target. Forwarned though that that particular area is hairy with the projects right across the street. Outside of that, the rest of that part of the Bronx I've never had safety concerns. The area by 242nd going up along the park (Riverdale) is generally very nice.
This is my first post here. I'm from Pennsylvania, and recently applied for graduate school at Columbia. I got in, and my stipend is around $32,000 a year.
I'm trying to weigh my option with Columbia with another offer I got from a school in Boston whose stipend is only $24,000 a year.
I realize the cost of living is slightly cheaper in Boston, so I'm wondering if $24,000 in Boston would take me further than $32,000 in NYC. I have relatives that used to live in NYC tell me that these stipends basically equal out and it would be the same type of life/cost of living if I choose either place.
I don't live an extravagant lifestyle. I am fairly frugal and I like to save. I have about $10,000 saved right now to help with the move into graduate housing for at least my first year.
I'm also thinking about two years down the line if I want to get an apartment in NYC, how much the 40x rent rule would be against me if I wanted to move to a relatively/slightly cheaper neighborhood in Brooklyn, Queens, or the Bronx.
I've been lurking on this forum a lot and I decided to make an account to get some brutally honest advice. Should I also post this in the Boston forum?
Been there. Why would you even think of making such an important life decision based on any cost of living comparisons at all?
Make the decision based on the fit between you and the school (and the department of that school) that best fits your goals and then make it work. If the program/department you have been accepted into at Columbia is better than the one at whatever school in Boston then make it work.If the program/department is better at a place in Boston then it's a no brainer.
If your field is sociology then you go to Columbia/NY because Columbia is the best in the world for it and NY is the best place to study it , if your field is medicine you go to Harvard because Harvard is the best medical school and Boston is the best place to study medicine.
The cost of living in either place shouldn't even be a consideration.
Last edited by bluedog2; 03-27-2020 at 05:18 AM..
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