Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Before I rented my apt in Astoria, I was very tempted to rent a fairly large 1br apt on the second floor of a private house.
This was in bay ridge, 74st bet 4 & 5 aves. The price tag back then (2011) $1,250
I gave you a rough breakdown of expenses and showed you that even if your rent is $1, 500, you'd still end up with $1, 400 to spend after your basic necessities.
Is your combined monthly debt higher than $1,500?
Anyways, the point all of this is not about living in Queens specifically, but rather to show that on salary of 70k you can live fairly comfortable in the outer boroughs.
Even if you factor in debt and other expenses.
Of course, this is only true if you're smart with your money and dont chose to live in Manhattan, go out everyday, spend on the latest gadgets and so on.
Fun fact for you; thr average HOUSEHOLD income in NYC is less than 60k/yr
Someone's takehome on $70k is going to be much less than that. Your effective tax rate is about 42% with payroll, SSI and Unemployment. On top of that there are health and whatever so lets say take home in the end is $3200.
Let's say your other expenses are correct that leaves about $1000. The student loan repayment rate, even on a Stafford is around the $800 mark so that leaves $200 to pay off credit cards and go out. Unless you're going to spend your days in your apartment or at work $200 a month for entertainment is not going to get you much.
And there are plenty of places where work and transport to the outerboroughs leave a lengthy subway ride. From Astoria to the far west side for instance is quite a lengthy trip.
I think "hours" was quite an exaggeration though. I have a friend who lives in Far Rockaway Queens which is FAR and works in downtown Manhattan. His commute each way is 45 minutes.
I guess my life is imaginary then. I live in a 1br apt just 5 minutes from a train that takes me straight to the city. My rent is $1,050 a month which includes parking and a backyard. I have a brand new 2012 car, dont live check to check, and live quite comfortable on $65k a year. Mind you I vacation about 3 times a year. The only thing that I have cut down on is eating out 3-4 times a week and partying 2 nights a week. Instead I save the partying and fine dining for special occasions.
if that's the case for u, great! but how common is this scenario really? its imaginary for most people
Quote:
Originally Posted by likeminas
You iz clueless. Thatz wassup brah
lol dont be mad at me u makin 70k and erything i said is true
Quote:
Originally Posted by Nugget
Someone's takehome on $70k is going to be much less than that. Your effective tax rate is about 42% with payroll, SSI and Unemployment. On top of that there are health and whatever so lets say take home in the end is $3200.
Let's say your other expenses are correct that leaves about $1000. The student loan repayment rate, even on a Stafford is around the $800 mark so that leaves $200 to pay off credit cards and go out. Unless you're going to spend your days in your apartment or at work $200 a month for entertainment is not going to get you much.
And there are plenty of places where work and transport to the outerboroughs leave a lengthy subway ride. From Astoria to the far west side for instance is quite a lengthy trip.
exactly, people are either in denial or have low expectations or both
Someone's takehome on $70k is going to be much less than that. Your effective tax rate is about 42% with payroll, SSI and Unemployment. On top of that there are health and whatever so lets say take home in the end is $3200.
Let's say your other expenses are correct that leaves about $1000. The student loan repayment rate, even on a Stafford is around the $800 mark so that leaves $200 to pay off credit cards and go out. Unless you're going to spend your days in your apartment or at work $200 a month for entertainment is not going to get you much.
And there are plenty of places where work and transport to the outerboroughs leave a lengthy subway ride. From Astoria to the far west side for instance is quite a lengthy trip.
Even if the combined tax rate was 42%, that would still leave you with $3,383 a month.
Now in your scenario you assume a big expense 'college loans'.
Let's be clear that no everybody with a college degree has outstanding education debt. So removing that from the equation, leaves on a completly different situation.
However, if you were to have that much monthly debt, you'd first need to get your prioties in order.
With housing being the biggest expense in this city, living in Manhattan or a pricey neighborhood shouldn definitely be on the top of your list.
You can easily get a decent 1br apt or studio in the outer boros for UNDER 1,500.
Heck, If you have that much debt, you porabably need to get a roomate IN the outer boroughs and cut your housing costs in half
Somebody with that much debt, would certainly need to make 'some' sacrificies, but again that's not everybody's case, so it can't be generalized.
Quote:
Originally Posted by OleSchoolFool
lol dont be mad at me u makin 70k and erything i said is true
LOL.
If I'm not mistaken;
1) you live in NJ and wanted to move to the outer boroughs
2) wanted to get an associate degree to become a NYC cop
I have never seen rent in that range that is convenient to my job or in a neighborhood that is close to a usable subway (for my purposes) or in an area I would want to live. Maybe some people would be willing to live there for the cheap rent but I wouldn't and I'm sure there are others who wouldn't either.
If I had to move to queens the subway ride to work would be hours in addition to the fact that I would have to walk to the train at very early hours which to me is not a risk I would be willing to take.
These are sacrifices that someone in that salary range would have to make.
70k minus state/federal/city income tax doesn't leave one with much especially if they have other expenses like credit cards and student loans.
Let me break it down for ya.
I make less than you do.
I've lived in South Brooklyn for a number of years in different neighborhoods.
You can EASILY find an apartment for less than $1400 in Bensonhurst, Bay Ridge, Dyker Heights, Gravesend, Midwood, Sheepshead Bay, Mapleton, Bath Beach, Marine Park, Mill Basin, and Bergen Beach. These are all safe neighborhoods, most near trains to the city.
The most I have ever paid for rent was $1200 and that was in Astoria. Otherwise my rent was $1000 or less, and even now I am paying in that range and I just moved in May.
The catch is you have to check the local newspaper for apartments instead of online. (Bay News, Kings Courier, etc.) There are plenty of people renting apartments who are old school and don't even have computers, so they rely on the newspapers like my landlord.
Now I also have student loans and 1 credit card. So I am in the same boat. However after paying for my typical expenses (Rent, utilities, phone, etc.) I am left with $1800 a month before the student loans and credit card and I make less than you do. Another thing you can look into is changing your repayment plan on the student loans. You can change your plan at any time and can opt to choose a plan that will start with low payments and gradually increase every 2 years. You can find info here: Repayment Plans | Federal Student Aid
Oh, and for those that say taxes are above 30%, try again. I do payroll and a single person claiming 1 dependent in NYC gets hit with about 29-30% in taxes. If they are claiming 0, then yes the taxes would be higher.
So basically, the only thing I sacrifice my QOL by living here is a longer commute. Otherwise, I'm in a safe area with cheap as hell rent in a really nice apartment with money leftover.
I guess my life is imaginary then. I live in a 1br apt just 5 minutes from a train that takes me straight to the city. My rent is $1,050 a month which includes parking and a backyard. I have a brand new 2012 car, dont live check to check, and live quite comfortable on $65k a year. Mind you I vacation about 3 times a year. The only thing that I have cut down on is eating out 3-4 times a week and partying 2 nights a week. Instead I save the partying and fine dining for special occasions.
What neighborhood do you live in deevel79? That's a great low rent for a 1br close to trains and I'm looking for something like this.
What the OP is mixing up/confusing is Quality of Life with Standard of Living. They are two different concepts. QOL is, as many on the post have already said, a qualitative assessment which means different people prioritize different things in determining their quality of life. Standard of Living on the other hand are the things that the OP has stated as being the quantitative things that are much cheaper in many, but not all, parts of the country.
One of the things that helps with a QOL life situation is (1) that ability to not have to commute to work, (2) being able to step outside and enjoy a coffee, a deli or whatever, (3) being able to finish work at 10 pm and still having a living city to come out to (something that OP should know about being a lawyer).
I guess what I am saying is that have a high Standard of Living does not necessarily amount to a better Quality of Life, and vice versa. You could live in the shoebox in a 7 room share house, living of tips and dining off a cardboard box but you could have an amazing Quality of Life.
Very insightful, especially your 2nd paragraph. I have had or would have had similar thoughts but I like the way you phrased it ... especially having the ability to go out even late at night or, for that matter, nearly any time of night (even in the middle of the night) and still have a LIVING city to come out to. Again: HAVING A LIVING CITY TO COME OUT TO (and this doesn't just mean Manhattan . . . it also includes Queens, Brooklyn, and the other boroughs to some degree . . . and then you can always take the 24/7 & affordable PATH subway to & from Hoboken, Jersey CIty, and Newark for whatever they have to offer, just as easily as going from Manhattan to the other boroughs). Yes, yes, yes . . . HAVING A LIVING CITHY TO COME OUT TO. You hit the nail right on the head, Nugget !!! For even though I can really appreciate the suburban life as well (depending upon "where" in the suburbs and "which" suburbs in particular, of course), there is something to be said for living in a very large expanse (such as the 5 counties or boroughs which make up New York City) and always have so many things to partake of at all hours of the day or night (although you can also find relative peace and sedateness if you seek those types of areas or venues) . . . and to know that you can walk to so many places & for great expanses of walkability and that it is, as well, all (or nearly all) interconnected by trains & buses running at all hours of day & night (or nearly so). Even including the commuter rail (LIRR, Metro North) and the PATH subway to & from New Jersey. It is a very alluring & attracting feature that is virtually unattainable anywhere else in North America (save perhaps for Chicago, and somewhat for the San Francisco Bay Area?).
You have to want something from NYC to deal with all the nonsense. I used to be glued to the music/nightlife scene. You couldn't get me to leave the city even for a weekend. I feared missing an event.
These days believe it or not Salsa Dance classes inspire me to cope for the meantime. Where else can you learn NYC salsa ?
Otherwise I am DONE with NYC. The glory dayz of this city are LONG over. The noobs can have ALL of it.
My goal is to find an apartment in San Diego that allows smoking. The rest will be history.
You don't come to NYC to party anymore....at least not people from my school of thought.
Because everyone has different criteria for what they consider their "quality of life" and it may not be the same as yours. I am probably a good example.There is no way on earth that I would consider it an improvement in my quality of life to move to someplace like Texas,live in a McMansion and drive an SUV.I'd have to slit my wrist first.
Moving to Rome might increase my quality of life but Texas ? I don't think so.
My feelings exactly. I tried to rep you but couldn't.
Someone's takehome on $70k is going to be much less than that. Your effective tax rate is about 42% with payroll, SSI and Unemployment. On top of that there are health and whatever so lets say take home in the end is $3200.
Let's say your other expenses are correct that leaves about $1000. The student loan repayment rate, even on a Stafford is around the $800 mark so that leaves $200 to pay off credit cards and go out. Unless you're going to spend your days in your apartment or at work $200 a month for entertainment is not going to get you much.
And there are plenty of places where work and transport to the outerboroughs leave a lengthy subway ride. From Astoria to the far west side for instance is quite a lengthy trip.
Actually at 70k yearly it comes out better than $3200. The below is from paycheckcity.com, I tried it on my own paycheck before and it's pretty accurate to within 20-30 dollars. I assumed single filing NYC resident, 1 exemption for federal/state/city, however, I don't know if with 1 exemption and no deductions would you need to pay back taxes at year end. About $3700+ a month. I assumed $45 per half month for health and $56 per half month for the pre-tax transit. However, it doesn't assume any 401k savings. So unless you're a gov't or union employee your retirement isn't off to a good start. Someone mentioned Jersey City/hoboken, if you go there you'd save $2200+ a year in NYC taxes. That's almost 2 months free rent for an ok one bedroom share.
Semi-monthly Net Pay $1,872.64
Semi-monthly Gross Pay $2,916.67
Federal Withholding $471.74
Social Security $180.83
Medicare $42.29
New York $152.66
SDI $1.30
City Tax $94.21
Transit $56.00
Health $45.00
Check Date 08/15/2013
Gross Pay $70,000.00
Pay Frequency Semi-monthly
Federal Filing Status Single
# of Federal Allowances 1
Additional Federal Withholding $1.00
State for withholding New York
Total Allowances 1
Additional State Withholding 0
Additional Withholding - Yonkers 0.00
Total Allowances - NYC 1
New York SDI true
Exempt State false
Filing Status S
Additional Withholding - NYC 0.00
Health 45
Transit 56
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
