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1. You are confusing "middle of the road" with "middle class".
2. "Middle class" is not some small midwestern ideal. There are plenty of people on the coasts (Boston, DC, Miami, SF, LA, etc.) who are "middle class".
Oh I get it. So those of us who make 75-250k are practically impoverished then? Makes a WHOLE lot of sense!
Some of you just don't get it because you haven't lived that $500,000 lifestyle. To you now, yes $500,000 is RICH because compared to your salary it's a lot, but once you're on that level you expect certain things, you don't expect to be renting a tiny crappy 1,000 sq foot apartment and to shop frugally.
My family moved from Houston to Manhattan. My parents earn around $800,000 per year, but the family does not live anywhere as "luxurious" as we did when we were in Houston, TX. In fact, they feel poor because of tuition, housing prices, etc.
Let's remember, the average price of a Manhattan apartment is, what $1,700,000? The tuition for schools seems much higher here too. Not to mention, it does indeed seem like everyone south of 96th street earn $150,000+ and it feels like there is a mind boggling amount of people earning millions a year in Manhattan which makes you feel even poorer than you really are.
In Texas we had four nice cars, a huge home, went on vacations frequently, went shopping a lot, went out to eat a lot and my parents say they felt like they had a lot left over.
In New York they have the huge mortgage + have to pay high common charges, etc. they have two cars, pay for the garaging, like to eat out (definately more expensive here), love to shop (more high end, more $$ and tempting here), love to enjoy NYC entertainment ($), but as amazing New York is, in terms of "stuff" the family has downgraded A LOT. They don't have the financial freedom they did before they lived in New York.
So yes, compared to other cities in the country, $500,000 is definitely middle class in Manhattan.
For some reason, I just can't relate to this thread. Once again, it seems we are having a bragging showdown. What is up with NYC? For real? Is it all about the materialistic things over here? I've seen the bentley's...I see the super wealthy lawyers etc. But when am I ever going to see some happiness? LOL. Yeah, people are rich here, but they are MISERABLE! They can't find love...or husbands or wives...they are unable to have children...they are so FILTHY rich that they have to resort to recreational drugs to even make them FEEL the simple things in life. God, I'm NOT jealous. Is this the city of insecurities or what?????
$500k a year as in the salary? Oh that's plenty to live in New York, as long as you don't rent a penthouse that requires you to pay at least 12K a month and buy the Hampton summer share and buy a $2000 Prada bag every two weeks.
It also depends on the family number. If you're talking about supporting two kids that go to private schools, paying mortgages and sending them to private tutors then no, 500K is not going to get you lavish lifestyle but single person or a young couple you can definitely get a nice enough life in Manhattan with those money.
I also like to point out a common stereotype: people in NY or in Manhattan don't live like we're vacationing in Las Vegas, we don't go out dining every night or throwing parties three times a week. Unless you're some figure head or socialite wannabe, most adults who are after college life don't live like it's Spring Break 1992.
The standard definitions of middle class do not apply in heavy urban areas. A house with a yard, a car, etc, are replaced by a condo and enough money to cab instead of bus or subway with your kids. It's silly to compare.
Exactly. I would gladly take a 1000 square foot condo in the Upper East Side over some cookie-cutter mansion with five SUV's 30 miles outside of Atlanta. I certainly feel like hiring taxis and car services to drive you around (while talking on the phone, eating, talking to a friend, doing what you want) is more characteristic of being wealthy than having to drive yourself while wasting time that could be better spent on other things. And no, middle class people largely do NOT send their kids to prestigious private schools in Manhattan; it is RICH parents who can afford the sky high tuition bills. Middle class people live in the suburbs or outer boroughs, almost always dine at home, and send their kids to public schools (or to inexpensive parochial schools). It's really interesting and kind of sad that some of these people with mega salaries can't accept that they are wealthy and need to delude themselves into thinking that they are "middle class."
For whatever reason people are thinking of that salary only in terms of the wealthy part of Manhattan (below the 100's) 500 gs would make you wealthy in the other half of Manhattan (10 years from now may be a different story). Whether you want to live there or not is your decision, but it is Manhattan too. I would say 500,000 is definitely upper middle class when you average all of Manhattan.
Nope. I am talking about below 96th Street. I know single people living extremely comfortable lifestyles on less than $100,000 in Murray Hill and the Upper East Side. $500,000 per year makes you wealthy anywhere in the world, even in Sutton Place, Tribeca, Beverly Hills, or Notting Hill, London. These places are not filled with the middle class.
Nope. I am talking about below 96th Street. I know single people living extremely comfortable lifestyles on less than $100,000 in Murray Hill and the Upper East Side. $500,000 per year makes you wealthy anywhere in the world, even in Sutton Place, Tribeca, Beverly Hills, or Notting Hill, London. These places are not filled with the middle class.
I agree.
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