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Old 04-08-2010, 02:18 PM
 
2 posts, read 13,940 times
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I need some help with relocating to NYC. I have a Job offer with a financial service company in manhattan with a base salary of 110K. I currently work in Laurel, MD and have a salary of 78K. Is the added salary enough to have the same standard of living in NYC?

Can I afford a 2 beds room apartment in a good place (max 30 minutes commute to work? )

Please help me with some good area where I can live.

Thanks
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Old 04-08-2010, 02:41 PM
 
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Hi - $110K is scraping the barrel for Manhattan. The cheapest 1 bedroom Manhattan apartment thats half decent is around $2500/month, average is around $3000/month. On top of that you have fees like electricity that range from $80/month to $150/month (summertime A/C), cable TV & internet from Timewarner is around $120/month. Check out paycheckcity.com to figure out what your take home pay will be on $110K, because if you live & work in Manhattan - you also have New York City Tax to pay, on top of your NY State tax. A 2 bedroom apartment starts around the $3500/month, an average one is around $4000/month.
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Old 04-08-2010, 03:20 PM
 
Location: Upper East Side, NYC
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the general rule of thumb is 40X the monthly rent per year. At your salary, that qualifies you for 2750 per month. You can most certainly find a ONE bed at that price. Where in the city will you be working? Midtown east? Downtown? Those are two big areas for financial services companies. Just keep in mind that the rules are different in new york. Expectations are different, and life is different. You'll have to make some sacrifices, but youll be in a city that will open the door to so much opportunity.
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Old 04-08-2010, 03:44 PM
 
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You'd easily make enough to have your own 1-bdrm, or maybe find a share in a 2-bdrm if you wanted to slum it a little (but have quite a bit more $ in your pocket at the end of the month.) Nobody says you have to live in Manhattan either if you wanted to be a little pickier about sq/ft and bedrooms and less picky about location.
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Old 04-08-2010, 04:16 PM
 
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Thanks a lot for the replies. I will be working in 7th ave and 49 street .. Have no idea if that is in midtown or downtown. I do not mind living at a place with up to 30 minutes easy commute to work. What are the alternatives to living in manhattan?
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Old 04-08-2010, 04:34 PM
 
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Check out Long Island City and Astoria in Queens. Both will have short (under 30 minute) commutes to work. Parts of NJ might be a possibility as well but I don't know enough about it to recommend.

Are you planinng to keep a car? If so, parking expenses and insurance rates are going to eat into the amount you can spend on rent.
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Old 04-08-2010, 04:38 PM
 
Location: Houston, TX
1,140 posts, read 2,869,864 times
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Quote:
Originally Posted by bradondylane View Post
Thanks a lot for the replies. I will be working in 7th ave and 49 street .. Have no idea if that is in midtown or downtown. I do not mind living at a place with up to 30 minutes easy commute to work. What are the alternatives to living in manhattan?
Queens. If I were making your salary (one can only hope right? ) and wanted a <30 min commute, I think i'd go with the Woodside area between Queens Blvd & Broadway. You'd be by 2 subway stations (one of which is an express stop) and a commuter rail station (kinda like MARC in Maryland). It's cheaper than Manhattan and I def think you can snag a 2br for under $2,000 per mo. If you're into Craigslist, i've provided a link with listings for 2-3 bedrm apts in the area.

new york all no fee apts classifieds "woodside" - craigslist
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Old 04-08-2010, 10:22 PM
 
Location: In the heights
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Since he's working on the West Side, the higher reaches of the Upper West Side across the northwestern quadrant of Manhattan and up to Riverside in the Bronx would be pretty good options. I was living in a pretty spacious two bedroom in the upper reaches of Washington Heights for about 1600 a month and the neighborhood was pretty alright.

If you want something really specific, then I'd say the area around the 181st A train stop in Washington Heights where Fort Washington and 181st meet. There's an odd strip of gentrification going west down 181st with a wine shop, yoga studio, and sushi restaurant (probably the big three hallmarks of a gentrified neighborhood) among other shops and another strip of gentrification around 187th and Fort Washington. If you go there, I do recommend that you try the areas to the west where groceries (including fresh fruits and vegetables and great deals like 7 plantains for a dollar) and spanish caribbean food is available. There's also a good deal of greenspace in close proximity. You can probably snag a two bedroom for 2K a month or a bit more than that.


For your commute, you can take the A express train down to 59th and transfer to the 1 for one stop which will leave you at pretty much the front door of your office building, the C for one stop which will take you about two blocks away or stay on the A train to 42nd and walk for a few more minutes (instead of waiting for a connecting train)--this should end up in an approximately half hour commute. You'll also have pretty easy access to the amenities of the Upper West Side via biking, busing, or train (one transfer off of the A to the B or C at 125).

Last edited by OyCrumbler; 04-08-2010 at 10:59 PM..
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Old 04-09-2010, 12:33 AM
 
Location: Jackson Heights, Queens, NY
93 posts, read 281,882 times
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Quote:
Originally Posted by mayorofnyc View Post
Queens. If I were making your salary (one can only hope right? ) and wanted a <30 min commute, I think i'd go with the Woodside area between Queens Blvd & Broadway. You'd be by 2 subway stations (one of which is an express stop) and a commuter rail station (kinda like MARC in Maryland). It's cheaper than Manhattan and I def think you can snag a 2br for under $2,000 per mo. If you're into Craigslist, i've provided a link with listings for 2-3 bedrm apts in the area.

new york all no fee apts classifieds "woodside" - craigslist
I want to put in for Jackson Heights. I had a roommate who worked in midtown right around where he is going to be working, and his commute was 20 minutes door to door (F express), although he worked right next to a subway stop.

You could afford to live closer towards the city though.
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Old 04-09-2010, 10:12 AM
 
Location: Upper East, NY
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Hoboken and take the bus to Port Authority (42nd/8th) - takes 20-30 min. You can get a 2-bed there for $2500-3000.
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