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I've read in a few places that, in order to be middle class in NYC, you have to make at least $100K. Is that true? Or are they talking about couples?
NYC is unique among cities in that what constitutes a certain class lifestyle is not constant here. What do you mean when you say middle class lifestyle.
Hmm...that's a good question. How much does it take to live in a neighborhood that isn't run down/full of crime and still have 40% - 60% of disposable income left over after housing and utility costs?
Hmm...that's a good question. How much does it take to live in a neighborhood that isn't run down/full of crime and still have 40% - 60% of disposable income left over after housing and utility costs?
There is no neighborhood like that in NYC unless you are on rent control or rent stabilization (and have been for years).
Hmm...that's a good question. How much does it take to live in a neighborhood that isn't run down/full of crime and still have 40% - 60% of disposable income left over after housing and utility costs?
What kind of living conditions you know apt. size. Do you want to keep a car? Do you have kids if so how many? The rule here is you should make atleast 40 times what you pay in rent. That puts you at 2500 a month. So definately not in lower manhattan. You can do ok in Queens though.
Some of NYCs best neighborhoods are in Queens. You should always visit the neighborhood you are considering several times at different hours and walk around to get an honest sense of the neighborhood. Also check out thread at the top about moving to NY.
Thanks, the 40 times rule is helpful. I think I could afford to live in Queens or Brooklyn. I'd expect to make at least $50K and I don't have kids or a spouse. Oh, and I don't plan to keep a car.
Thanks, the 40 times rule is helpful. I think I could afford to live in Queens or Brooklyn. I'd expect to make at least $50K and I don't have kids or a spouse. Oh, and I don't plan to keep a car.
If you are earning $50,000/year, you will be presumed to afford up to $1,250/month in rent. That gets you a nice 1 bedroom apartment in many areas of Queens - Astoria, for instance. You will certainly live a "middle class" lifestyle with a salary of $50,000/year.
Much also depends upon how good with money you are, since it's an easy city for some to live hand-to-mouth on $50k or $200k. It's all a matter of perspective and lifestyle. Living in one of the outer boroughs is a smart move, however, since it's much less expensive than closer in locations. And, your transportation costs, through the MTA, are fixed, so it does not matter where you live as NYC has a flat fee system, not a station-based fare system.
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