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Old 08-20-2008, 10:31 AM
 
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I *might* be moving to NYC from Houston, TX. If I'll be making 130k annually and I'm a single professional (no kids or anyone else to take care of but myself) will I do OK? I know everyone complains about the outrageous cost of living there so I just need someone that lives there to tell me how outrageous it really is. Will a single person with an income of $130,000 in NYC be living in a nice apartment or a tiny studio w/ 3 roommates?
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Old 08-20-2008, 10:38 AM
 
Location: Washington, DC & New York
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You can find a nice apartment with your income in NYC, though it will be smaller than what you would find in other cities for around the same money. You will pay a premium for Manhattan, and will have a reduced space, but moving to Brooklyn, Queens, and nice parts of the Bronx can give a blend of lifestyle choice and more value for the money, depending upon neighborhood. If you're not a 24-7 city person, the outer boroughs have more to offer in terms of quiet, nearly suburban neighborhoods, and are much better bets if you plan to bring your car with you.
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Old 08-20-2008, 10:51 AM
 
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You will be fine on $130K. The outer boroughs are significantly more affordable than most of Manhattan.

I suggest you figure out your income after taxes and make a budget. There are several threads on here with suggestions for budgeting for things like transportation and utility bills.
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Old 08-20-2008, 10:52 AM
 
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You'll be fine. 130K after tax still gets you nice enough quality in NY especially since/if you have no financial burden (i.e children, car payment, mortgages and credit card debt). The first couple of months will be a bit rough as you have to find the apartment which costs quite a bit (rent, deposit, broker fee if you work with one---15% of your first year rents, furniture...etc) and you mostly would spend more on groceries considering you are new and therefore haven't found where you can stuff that are priced more reasonably. The same can of Campbell soup or cat food would have 4 different prices in the stores that are on the same block. If you're generally smart and efficient with money, with no financial burden and debt, don't have habits of buying $2000 Prada bag every month, you can live quite comfortably with 130K in NY, you don't need to have roommates, believe me.
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Old 08-20-2008, 10:53 AM
 
3,225 posts, read 8,546,488 times
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Quote:
Originally Posted by bmwguydc View Post
You can find a nice apartment with your income in NYC, though it will be smaller than what you would find in other cities for around the same money. You will pay a premium for Manhattan, and will have a reduced space, but moving to Brooklyn, Queens, and nice parts of the Bronx can give a blend of lifestyle choice and more value for the money, depending upon neighborhood. If you're not a 24-7 city person, the outer boroughs have more to offer in terms of quiet, nearly suburban neighborhoods, and are much better bets if you plan to bring your car with you.
.................................................. ..............................................

fully endorse the post.
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Old 08-20-2008, 10:55 AM
 
3,368 posts, read 11,638,813 times
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Quote:
Originally Posted by sw_engineer_chick View Post
I *might* be moving to NYC from Houston, TX. If I'll be making 130k annually and I'm a single professional (no kids or anyone else to take care of but myself) will I do OK? I know everyone complains about the outrageous cost of living there so I just need someone that lives there to tell me how outrageous it really is. Will a single person with an income of $130,000 in NYC be living in a nice apartment or a tiny studio w/ 3 roommates?
Generally, landlords want you to make 40-45 times the rent. For you, that would be around $3,000 per month. This rents a nice apartment in Manhattan. If you want to get a roommate, you can rent a beautiful 2 bedroom / 2 bathroom in a highrise doorman building for around $4000-4500 and split the rent. You could easily afford this, so do not worry. I know people living in Manhattan who make well under $100,000 and they are doing just fine.
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Old 08-20-2008, 10:57 AM
 
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I know people making 60K who are doing fine, so you should have a great time. I would look for an apartment in Brooklyn areas like Park Slope, Brooklyn Heights, Carroll Gardens, Cobble Hil, etc. They are nice areas, quieter, with plenty to do in and of themselves, and Manhattan is a short subway ride away.
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Old 08-20-2008, 11:06 AM
 
3,225 posts, read 8,546,488 times
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Originally Posted by dman72 View Post
I know people making 60K who are doing fine, so you should have a great time. I would look for an apartment in Brooklyn areas like Park Slope, Brooklyn Heights, Carroll Gardens, Cobble Hil, etc. They are nice areas, quieter, with plenty to do in and of themselves, and Manhattan is a short subway ride away.
ditto.

So far all the responses to the OP are right on target. The OP can live alone in Manhattan, if desired, and enjoy the uniqueness of being a Manhattan resident or live in a nice, clean area in an outer borough where his/her bucks would go even further and they would get a nice rental in a nice building or house, have the OPTION of a car, if desired, enjoy the uniqueness of the outer borough chosen and still come in to Manhattan for work, pleasure, and whatever suits their fancy.

That income and even much less opens up possibilities in all 5 boroughs.

Good luck!
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Old 08-20-2008, 11:07 AM
 
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you will be fine, and if you are single, you will love it
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Old 11-02-2008, 12:23 AM
 
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where i live a single person making $100,000 a year is rich. only doctors get paid that much.
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