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I am a 22 yr old college graduate who is interested in moving to the big city of Manhattan. There are a few questions that I need answered if anyone can help.
1.) What is the average monthly rent for a studio apartment in Manhattan and what does this price include (utilities, etc..)?
2.) What is the average utility cost for all bills per month?
3.) Safety is a concern, so what area is preferred for a reasonable cost?
4.) Average time to travel to work in traffic without an automobile?
5.) What is the entry level sales position salary per year if possible?
6.) What would be an estimate of a yearly salary that I will need to get by comfortably?
Any other advise or suggestions about things I need to know will be greatly appreciated.
1) Depends on the area, size, building amentities (doorman, etc.). Most places do not incl utilities. Perhaps you could estimate in the $1500-$1700 range as a guide.
2) Depends. I would say for a studio, maybe $200 per month.
3) For reasonable costs in an established and safe area, you can't be the Upper East Side. Prime location, but the further from the train the better the deal. Look for places in the upper 70s, 80s and low 90s along York, 1st, and 2nd ave.
4) Depends where your office is. On the UES, could be 5 min, could be 30.
5) What kind of sales?
6) Depends on your apt, how much you go out, how much you shop, etc. Too many variables to say.
Good luck.
Quote:
Originally Posted by harmonj2
I am a 22 yr old college graduate who is interested in moving to the big city of Manhattan. There are a few questions that I need answered if anyone can help.
1.) What is the average monthly rent for a studio apartment in Manhattan and what does this price include (utilities, etc..)?
2.) What is the average utility cost for all bills per month?
3.) Safety is a concern, so what area is preferred for a reasonable cost?
4.) Average time to travel to work in traffic without an automobile?
5.) What is the entry level sales position salary per year if possible?
6.) What would be an estimate of a yearly salary that I will need to get by comfortably?
Any other advise or suggestions about things I need to know will be greatly appreciated.
I agree with most of what GCGuy says.
The classic rent "affordability' calculation has been that you shouldn't pay more than 1/4 of your income toward your rent. In NYC many people pay closer to 1/3 to 1/2 of their income toward rent. By that calculation, if you are paying $1500 for a studio, you need to be making at least $36k to $54k. Not very likely on an entry-level sales position. A more affordable (and very common for young, new arrivals in NYC) option is going to be checking craigslist, etc. for a room-mate situation in Brooklyn or Queens and living that way for a few years while you get yourself established. On a retail salary that's probably the only way to survive. NYC is a tough place financially, but if you're going to give it a go you want to do it while you are young!
I don't spend $200 per month for utilities and I have a 2BR/2BA apartment. I don't think a studio will have that much for utilities. HOWEVER, I don't think that the range of $1500 -1700 is what better studios are really going for now, unless you're willing to live in a walk up and perhaps have a tub in the kitchen. It seems to me they're possibly pricier than that.
I have several friends who have finally had to break leases and take new apartments. Average rent for a (very) small studio in Manhattan now appears to be close to or slightly over $2000. You should ditch the car, you won't need it in NYC (unless you decide to live in NJ or Queens).
Brooklyn is not much cheaper.
You'll be safe nearly anywhere in Manhattan, with the exception perhaps of Spanish Harlem. If you are 22 and a recent college grad, you may want to seriously consider the Lower East Side or Brooklyn.
It would appear that most people seem to put themselves in debt when first moving to NYC. But as promotions come, they soon work their way out. Entry level positions in most professional industries appear to be around $35k-$45k. (advertising, marketing, sales, etc.). Most people seem to begin to pull themselves out of debt around $80k/year. Over $100k you can live quite comfortably, but you'll always be 'space challenged.'
A studio can run you for about 1700 in manhattan if you can afford it. fine
$200 for utilities is a lot i have a one bedroom and have not paid that much by running my ac all summer long. what you can do is do your research and find out from the electric company past history of electric usage, they will give it to you. im not sure about the gas company but you can try.
As far as safety anything can happen to you at any time any where, but If you prefer to be out late at night i think you should not go out alone and try to drive if you will be hanging out at night or take a cab home, i am a female and do not like to roam the streets late at night, i don't care how safe they
say they are.
On Average if you do not live in Manhattan and will be taking the train to work you can spend average an hour on the train, that depends also of how many trains you will be taking, some of us that cannot afford to live in the city take as many as three trains to go to work. the trains run constantly during rush hours. You will find that the closer you get to the city the more crowded some trains get, and that is something we New Yorkers have to deal with, from experience i can tell you people can be very rude if you invade their space on the train, but sometimes you cannot help it the trains are just so crowded, don't let this change your mind. You should be ok, read something on the train or get a mp3 player to listen to or if your ride is long enough and if you dont mind sleeping (that's up to you)
I dont know about sales salaries, but from speaking to friends and because the type of job i do, property management i see what young people moving to NY from out of state are making, NY jobs seem to pay good and many young people move here making good salaries where they can afford to at least to pay their rents.
Good luck
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