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I live in just under $100k a year, with my wife, daughter, dog, two new cars, and a mortgage on a decent-sized 3bdr townhouse in SI, in a GREAT neighborhood. It's very doable if you know how to properly handle finances. We have no debt, eat out twice a week, and still go on vacations. It's not as tough as everyone makes it out to be to survive here.
True but you couldn't have anything close for that income range in Manhattan. SI isn't the easiest to commute from.
True, but a lot of people probably don't realize that a good job in Manhattan is still worth it because you don't have to live in super-expensive Manhattan.
I knew one guy who commuted in from Stillwater, NJ to midtown... Ouch.
The VERY EARLY morning Bieber buses from Reading, Kutztown, and Allentown, PA are always completely filled with commuters to NYC.
For the cost of a 1 bedroom apartment in NYC you can get a brick 3 bedroom home in the Lehigh Valley.
The VERY EARLY morning Bieber buses from Reading, Kutztown, and Allentown, PA are always completely filled with commuters to NYC.
For the cost of a 1 bedroom apartment in NYC you can get a brick 3 bedroom home in the Lehigh Valley.
Yeah I heard about that. Still, it's a painful commute- you're eating up 3-4 hours a day just on traveling living that far away. The friend of mine who lived in Stillwater was only able to put up with the commute for 8 months, then he broke down and moved with his wife in Englewood.
Never lose sight of the fact that the Median Household Income in NYC is $48,631. Half of households are higher and half are lower.
Median income of New York STATE is $53,514.
The middle household in New York City is NOT swimming in money and MANY households "do it" on FAR less than $100K.
yeah but most of those households who "do it" on FAR less as you put it have government benefits which enable them to obtain housing at way below market rates.
Keep in mind that a household doesn't instantly mean per person. A household indicates the number of people living in a particular dwelling. A household making $50,000 a year could mean 2 people making $25,000 each or 5 making $10,000 a year each. To get a better understanding of this issue you would have to: a) Find the average household size in NYC and b) Find out the per capita income in NYC. There is a reason why roommates are such a big thing here. $25,000 a year cannot sustain a truly "independent" lifestyle in NYC (own apt, own car/transportation, health ins, savings, leisure cash, etc), but it certainly might afford you one in Syracuse.
yeah but most of those households who "do it" on FAR less as you put it have government benefits which enable them to obtain housing at way below market rates.
Are you iimplying that most of those those below the median income (FAR less than $100,000,) exactly half of New York City residents, 4 million of them are in sudsidized housing with government benefits? I doubt that very much.
The government is not as generous as some people seem to think...well, at least not to the poor.
Are you iimplying that most of those those below the median income (FAR less than $100,000,) exactly half of New York City residents, 4 million of them are in sudsidized housing with government benefits? I doubt that very much.
The government is not as generous as some people seem to think...well, at least not to the poor.
rent stabilized apartments
section 8
mitchell lama
nycha buildings
hud housing
etc.
considering that using the 40x rule the median ($48,631) only qualifies you for a max rent of $1215.78 and 50% of people who live in nyc make below that and given the market rates being what they are how else would you explain it?
rent stabilized apartments
section 8
mitchell lama
nycha buildings
hud housing
etc.
considering that using the 40x rule the median ($48,631) only qualifies you for a max rent of $1215.78 and 50% of people who live in nyc make below that and given the market rates being what they are how else would you explain it?
If you don't quite make 40x the rent but have good credit history, employment references, etc, many landlords will look past that. Mine did.
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