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Old 03-03-2007, 05:54 PM
 
132 posts, read 468,817 times
Reputation: 63

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My wife and I are considering moving to NYC but are not real sure on what we can expect to pay for an apartment. Its a safe bet to say that we will earn a combined income of 100k per year and we have no kids. We have no intentions of driving and would rely on public transportation. So my question is , Would we be able to afford a nice 1 bdrm apartment and still be able to afford a fun lifestyle? I don't want to move to NYC unless I can afford to really experience the city, its not worth the move if we are gong to be stuck sitting at home with no cash. As of now we know we would want to live in Manhattan, not sure which area though. The last time we visited we stayed at the Westin Times Square and the area seemed ok, but I think we would prefer a less "touristy" area to live in. Any suggestions would be appreciated.
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Old 03-04-2007, 07:39 PM
 
Location: Mattituck
492 posts, read 577,771 times
Reputation: 99
If you can do 100K, dont need a car and dont have kids take advantage of a 1 bedroom Manhatten. ...Even in Washington Heights near an A train stop 8 minutes to midtown.
Queens is screwed up with many people who were pushed out of Manhatten, need to have cars, choice of schools. Too much construction.
If you going to be packed in like sardeens and can afford to live in Manhatten go for it

-Joe
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Old 03-05-2007, 12:01 AM
 
132 posts, read 468,817 times
Reputation: 63
I have done some searches online and I have found that there are many studio and 1 bedroom apartments in central parts of the city that are between $3500- $5000 a month. I think we would be looking for something around $4000, is there any reason you recomended Washington Heights? It seems that we could afford the Upper West Side or Battery Park areas. I have heard that most places require you to make 50 times rent anually, is that true? If that is thea case then there would be a problem, but I know we could afford $4000 easy.
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Old 03-05-2007, 03:49 AM
 
7,079 posts, read 33,747,655 times
Reputation: 4005
You have to look carefully - what you're seeing is more than many would pay for a 1 bedroom...I'm not sure why Washington Heights was particularly mentioned. The upper West Side is, actually, one of the more pricey parts of town - Murray Hill, upper East Side, and other areas might be more do-able.
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Old 03-05-2007, 04:59 AM
 
2,591 posts, read 3,377,823 times
Reputation: 1293
Wow, I would think that $4000 would be a huge part of your budget if you will be making $100,000/yr. I think you could find a better price downtown, but maybe living in Washington Heights/Inwood wouldn't be a bad idea. That way you could save some money...for a rainy day, for retirement, or to buy a house one day...
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Old 03-05-2007, 07:38 AM
 
132 posts, read 468,817 times
Reputation: 63
thanks for the input guys, its appreciated I just thought $4000.00 is what I would be paying based on a lot of the prices I saw. I would rather pay less than that, but I still want to live in a good area. I don't think that would be stretching the budget to much because the only thing left after rent is food and utility bills, which I wouldn't imagine would be to high. Its so hard to find an accurate price range on this forum, some say its really high and others say its not. I guess the best thing to do is to just contact a realtor in NYC and ask them. I have also learned of the 50x rent rule, so we really would have to be looking for something $2000 per month anyway.
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Old 03-14-2007, 03:21 PM
 
82 posts, read 516,088 times
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You can find 1 bedrooms for less than $4,000. It will not be in a luxury doorman building though. If you're willing to live in a walk-up you can find a real 1 bedroom for much less than $4,000. I live in a real 2 bedroom for less than $3,000. I have seen 1 bedrooms in more luxurious buildings for upwards of $3,000.
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