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The numbers don't work no matter how you slice it.
I bet half "doing well" on 50k get help from Mom and Pop back in Ohio.
No, they likely have roommates. There was a family on the Upper West Side that I knew. They had great neighbors in the building. Two neighbors to every floor. Well below them was three people living together that were roommates. My guess is they were probably making around $50k each or maybe a little more, so it is obviously doable.
The reality is most people are not making six figures here in NYC based on the data I have seen. Manhattan's per capita income is inflated by some of the high income earners. There is lots of poverty in NYC.
If you look at AMI tables used for many things including so called "affordable" or "low income" housing you'll see $50k is not what it could be for a single person household.
$50K/yr you qualify for affordable housing in most parts of NYC.
You are underpaid and making a **** salary.
If you have to learn about that on the forum congrats first step better late than never. Acquire new skills while at your ****ty job and start sending out applications. Easier said than done trust me I know, but when you escape that manipulative brainwashing hellhole you'll wonder why you ever settled for $50K/yr NYC job. Nobody is paid what they are worth especially in NYC and lowballing is common.
forgot to add just how out of whack NYC is and COL
137K is considered "middle income" and laughably yes qualifies you for a very small percentage of "affordable housing" units in the city. I **** you not developers to work around this make affordable housing units for individuals in this income bracket. NYC real estate gotta luv it. The only place where a Software Engineer or Entry-Level Investment Banker at a Boutique qualifies for some affordable housing units.
I'm sorry, $50k per year after federal, state and local taxes in NYC comes out around $36k for same period. No one is other than those in NYCHA, getting vouchers or otherwise having someone else carrying their end is going to find an apartment alone with that sort of income.
Even busted persons living in rent regulated units since God made dirt and spit (read > 20 or 30 years) can barely afford to live on their own. Fact their rent is below market makes no difference. Monthly income is what it is, and no small number are rent burdened. Again just walk around UES, UWS, Chelesa, etc.. and you'll see plenty of white persons digging through trash in front of supermarkets, shops, stores or whatever. They are *NOT* homeless but looking for ways to survive after rent consumes a good part of their monthly income.
Those in well below market rate rent regulated apartments have no choice but to remain current at any cost. They never will find other housing so cheap and with such extensive protections. Well not unless they can get another rent regulated unit, into NYCHA, etc.... so cannot risk being hauled into court for nonpayment.
As for rest of it, NYC has always been a HCL area where good apartments for affordable rents were (and still are) hard to find. As such roommates have been common going back many decades.
Only thing is what was once restricted to young persons out of college (who eventually pulled up their socks, earned and got their own apartments or homes), you now see more and more young adults or even middle aged persons co-living.
There are $1200 one bedroom apartments. If you dont have kids student loans and unnecessary debt it is doable
My wish for you is that you stop having such a defeatist outlook on everything. What you percieve and believe in your life is what you live.
Many individuals ara renting apartmemts making less than $50k
He is living in fantasy land.
Quote:
Originally Posted by LOVEROFNYC
There are $1200 one bedroom apartments. If you dont have kids student loans and unnecessary debt it is doable
I don't know about one bedroom apartments, but I have seen some studios in that range. Have seen plenty of people asking or moving back to NYC with a budget around $1200 - 1300.
Cant really move out with a crap pay of 50K a year. If companies paid more they would
This isn't true. When I was the only one working (and going to grad school) and my wife was going to grad school, I supported both of us on around $60K. Yes, we lived in the Bronx and had long commutes but that's life. This wasn't that long ago either (2011- 2014). We even managed to go in a few trips abroad.
Largest expenses were Our studio apartment which was $1250/month. Two unlimited MetroCards ($200/month?), And groceries (which tries to stick to a budget or $100/week). About $2K if fixed expenses per month. After taxes
I kept almost $4K. Per month after taxes? Do the math. It's very doable. And yes she had student loans that we were paying off as well (as much as we could) during this time.
We're in much better place now financially but that's usually how things go.
Last edited by Bklynball; 08-05-2021 at 10:33 AM..
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