U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New York > New York City
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-27-2012, 11:46 PM
 
2 posts, read 11,237 times
Reputation: 10

Advertisements

I'm just out of college and making 40k a year. The place I work in is in Manhattan and I've always wanted to live here. Is it possible to live in Manhattan on this low of an income? I'm not really looking for for anything nice. Actually, to be honest anything will do - no matter how crappy and small it is is fine with me as long as it's somewhere in midtown or below. I'm completely ignorant about what's "cheap" in Manhattan and what's not. Thanks for any help.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 10-27-2012, 11:56 PM
 
6,263 posts, read 15,291,180 times
Reputation: 4725
You would need to rent an apartment with a few other roommates, and it will cost a lot. My daughter recently paid $4,500 a month for a two-bedroom they made into a 3-bedroom, and she had two roommates, and they had their significant others. Three couples shared the $4,500 rent. They lived in the Stuyvesant Town/Peter Cooper apartments. (You can find their history on Wikipedia.)

We pay $700 in a mortgage payment for a 5-bedroom, 3-bath house in North Carolina with a big yard in the city -- just for the two of us. So from my perspective, Manhattan apartments cost a lot.

Last edited by lovebrentwood; 10-28-2012 at 12:13 AM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-28-2012, 12:00 AM
 
12,344 posts, read 24,525,733 times
Reputation: 10313
Quote:
Originally Posted by lovebrentwood View Post
You would need to rent an apartment with a few other roommates, and it will cost a lot. My daughter recently paid $4,500 a month for a two-bedroom they made into a 3-bedroom, and she had two roommates, and they had their significant others. Three couples shared the $4,500 rent. They lived in the Stuyvesant Town/Peter Cooper apartments.

We pay $700 in a mortgage payment for a 5-bedroom, 3-bath house in North Carolina with a big yard in the city for the two of us. So from my perspective, Manhattan apartments cost a lot.
I agree, roommates is the only way to go if you are earning $40K and want to live in that area. You could only afford $1000 in rent (40x rule) and you aren't going to find a $1000 apartment.

Regarding the Stuy Town apartment, I am surprised that putting 6 adults in a 2 bedroom apartment didn't exceed the legal occupancy limits.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-28-2012, 01:02 AM
 
Location: New York City
4,036 posts, read 9,765,097 times
Reputation: 3744
I did it for years. If you do a private sublet (i.e. your name is not on the lease) you can go below the 40x rule. It all depends on what you're willing to sacrifice/put up with. $1,200 is about as low as you can go in Manhattan and have your own bedroom, but they're getting harder to find downtown. You might have to go up to $1,350 or so.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-28-2012, 09:38 PM
 
107 posts, read 259,606 times
Reputation: 135
Midtown or below? Not without multiple roommates. I live all the way up in Inwood with 2 roommates and pay $650 a month.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-28-2012, 10:06 PM
 
6,263 posts, read 15,291,180 times
Reputation: 4725
Quote:
Originally Posted by Henna View Post

Regarding the Stuy Town apartment, I am surprised that putting 6 adults in a 2 bedroom apartment didn't exceed the legal occupancy limits.
They made it into an "official" 3-bedroom apartment after they moved in.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-28-2012, 10:55 PM
 
917 posts, read 1,926,759 times
Reputation: 718
Like others said you would need a few roommates or live in one of these:
Simple life Manhattan: a 90-square-foot microstudio - YouTube
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-29-2012, 12:23 AM
 
2,665 posts, read 5,355,092 times
Reputation: 850
not worth it, not on 40k
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-29-2012, 05:07 AM
 
Location: 20 years from now
6,406 posts, read 6,580,947 times
Reputation: 4529
Yes, if you're willing to have 5 roomates and live in a closet. Seriously, why would anyone subject themselves to these living conditions just to live out a fantasy?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-29-2012, 05:42 AM
 
6,263 posts, read 15,291,180 times
Reputation: 4725
Quote:
Originally Posted by itshim View Post
Yes, if you're willing to have 5 roomates and live in a closet. Seriously, why would anyone subject themselves to these living conditions just to live out a fantasy?
Young people! That's what they're SUPPOSED to do!
Rate this post positively Reply With Quote Quick reply to this message
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.


Reply
>
Powered by Foreclosure.com
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:




Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New York > New York City
Similar Threads
View detailed profiles of:

All times are GMT -6.

© 2005-2022, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top