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.
I hate to discourage anyone from a year's adventure in the city, but I wouldn't recommend even to a young person coming here on a $50K salary. However, if you have some cash saved and are looking at it more as an investment in a year's experience (i.e., are willing to spend your savings), it could be a different story.
Streeteasy to me is more realistic (and easier to use) than Zillow.
I hate to discourage anyone from a year's adventure in the city, but I wouldn't recommend even to a young person coming here on a $50K salary. However, if you have some cash saved and are looking at it more as an investment in a year's experience (i.e., are willing to spend your savings), it could be a different story.
Streeteasy to me is more realistic (and easier to use) than Zillow.
The 40x rule is for gross income, not net. I think OP figured out the $1850 amount by using the figure of $74k for gross.
Yes that's right. ~50k is net after paying tax and student loans (paid through the tax system in my country). I'm trying to work out a rough budget at present to see if it's worth it financially. If my partner had work rights (even just a minimum wage job) then I wouldn't hesitate.
Cimbom, I agree with mathjak. It depends on how you want to stretch your options and lifestyle. NYC is ultra stressful without adequate income to live in a neighborhood you can be happy in, along with whatever amenities in and out of the rental building you desire.
I'm thinking of applying for a job with my country's government which will be based in New York City. I will be paying tax in my home country and anticipate my net income after tax will be in the range of 50-55k USD. I am married and would be moving with my husband if I get the job. From what I have read, he may not be able to get work rights on my visa but could if we later applied for a green card to stay there.
the answer is No!
At a bare minimum, I would want to rent a 1 bedroom apartment (not a studio) in a nice condition and neighbourhood and have a reasonable commute to work. The job is located near Grand Central station. It has been a dream of mine to live in NY for a long time but it would not be worth the stress and expense if I couldn't enjoy the experience and was really struggling week to week. Can I have a decent standard of living with this salary? Thanks in advance
Opinion:
My apologies.
Unless you own a home outright the answer is No!
You will need at least $100,000 a year to have some quality of life.
If you rent you will be stretched and it will ruin your marriage all the while
your hard earned money is filling the pockets of some land barren whilst
he is off sunning himself on his boat while the maid is at home cooking and cleaning.
Reconsider .................Don't do it..................On average 100,000 people per year are leaving N.Y. just for financial reasons .....................
Thanks for your replies. Anyone have a rough budget they are willing to share to give me an idea about average expenses? I just want to make sure that I'm not missing anything. I'm currently making some inquiries about the visa side of things which will have the biggest impact on my decision.
I know for us only half the yearly spending is non discretionary....half the spending is what I call life...it is all the things we do daily that is not actually a fixed bill of a sort
My apologies.
Unless you own a home outright the answer is No!
You will need at least $100,000 a year to have some quality of life.
If you rent you will be stretched and it will ruin your marriage all the while
your hard earned money is filling the pockets of some land barren whilst
he is off sunning himself on his boat while the maid is at home cooking and cleaning.
Reconsider .................Don't do it..................On average 100,000 people per year are leaving N.Y. just for financial reasons .....................
I agree with this. As a visitor to NYC you'd want to have the means to explore, have fun, go out to eat, etc. and if you're pinching every penny, I can't see how that would be much fun. If the job is a big stepping stone to the next one, then by all means go for it, but if the goal is to enjoy NYC for the year, I don't think there'd be much enjoyment in being stressed for money all the time.
Also keep in mind while someone already established here can live on 50K net no problem, it's going to be a different story for a newcomer. First, you have upfront costs for living - like paying first month, one month security and possibly one month broker's fee. Then you have all the upfront costs of furnishing the place.
Add to that the apartment is most likely more expensive than others because it's a new rental (as opposed to others who are living in rent stabilized, or homes they own, or staying with family, etc.)
And if you're interested in keeping costs low, sometimes it takes time to find places that help you do that. For instance, the closest grocery store is not necessarily the best bargain, so you have to figure out how to shop more economically.
I'm thinking of applying for a job with my country's government which will be based in New York City. I will be paying tax in my home country and anticipate my net income after tax will be in the range of 50-55k USD. I am married and would be moving with my husband if I get the job. From what I have read, he may not be able to get work rights on my visa but could if we later applied for a green card to stay there.
At a bare minimum, I would want to rent a 1 bedroom apartment (not a studio) in a nice condition and neighbourhood and have a reasonable commute to work. The job is located near Grand Central station. It has been a dream of mine to live in NY for a long time but it would not be worth the stress and expense if I couldn't enjoy the experience and was really struggling week to week. Can I have a decent standard of living with this salary? Thanks in advance
It's gonna be difficult on a UN salary for what you say you want ... it'll go like this you can find something in your rent budget but it will add to your commute, or you'll have a great commute but you will spend way more of that salary on housing. Folks live in the city on far less than what you are proposing so it can be done but it will require you thinking hard about what you are willing to shift on and what your definitions are for some categories - and of course outside of flexibility you will need to be creative. So for instance , instead of just shopping through fresh direct or Whole Foods you may find you save quite abit by going to say the fish market at down near essex street or in the bronx or you might save more by shopping produce at green grocers.
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.
