Living in Manhattan on 70K per year.

[rh71]

$800/mo. rent in brooklyn. Hang out in the city after work + weekends. Just a train ride away... know a ton of people who do that. If you think about it - what do you really get out of living IN Manhattan ? You can go downstairs on a whim but is that worth twice the price per month ?

 

[bennylong]

You'll live fine in Manhattan on $70k as long as you're single, don't ever plan to buy a house in your lifetime and don't own a car.

 

[mugs]

I would not move to NYC for $70k a year if you're already making $70k somewhere other than NYC.

 

[jaybert]

i was in a similar predicament last year, trying decide whether to live in Dallas, TX, or NYC.

Not sure if you are aware, but not only does NY have state income tax, they also have city income tax. So that is another 4-5% that you lose off the top before any other considerations (for me it was 9-10%, since Texas does not have state income tax). Living in Manhattan is pretty unreasonable, unless you are willing to live in the bad parts of Manhattan way up north. Even there, it could still run you $1500/month for a 1 BR. My friend has a studio in Chinatown for $1200, but it is VERY small and isnt that nice, etc.

Consider looking in western side of Queens, which is the closest to Manhattan. You can find a decent 1 BR for $1000/month or so, and the subway will take you into Manhattan pretty quickly.

Another choice is to live in NJ. Hoboken is a very nice area, and the PATH trains there will take you into the city within a few minutes as well.

 

[Cal166]

With 70K, you'll do fine. Find a 1BR apt which is around ~1500.

After the Govt rapes you a new one and the ny state takes a little more and health, you will end up with roughly $3600 a month.

 

[SampSon]

Yes.

 

[KK]

This isn't for T, is it?

 

[MadPeriot]

I think its doable and live a lifestyle where you wouldn't be depriving yourself. But it will be hard for you to save at most couple hundred in your bank a month. If you have expensive hobbies you might as well give that up too.

 

[torpid]

$1500 will NOT get you a nice sized place in manhattan. It will get you maybe 500 square feet. Furthermore, it is difficult to find a nice place. Many people end up paying apartment brokers or apartment finder fees that amount to 2 months rent just to locate a nice place.

However, keep in mind that you don't really NEED a car if you live in manhattan. So rent for $1500/mo is totally doable if you are making $60k even. That is how much my rent + car was here in wisconsin when I was making that much and I had a decently comfortable living.

$4000 a month, that must be a really nice place and 1300+ square feet?

 

[Cal166]

Originally posted by: Doodoo
Living in Manhattan could be rough on 70K a year. A friend of mine jis renting an apartment in Manhattan for 4K a month. On 70K I'd try and live just outside of Manhattan.

He must be making over 100+k to afford a 4k a month rent.

 

[polm]

Thanks for all the great input, ATOT.


I'm eager to move to Manhattan because two of my cloesest friends live there. Plus I am looking for that fast-paced, non-stop, city lifestyle. Things are just a bit too slow for me down south.

I'm not sure if I will need a car or not. I usually get a rental car for my business travel. I would really love to be done with vehicle expenses/maintenance.

I currently live in an 800 sq. foot apartment. It costs me 700$ a month with about 200$ in utilities.

I could probably get my company to increase my salary to cover the state/city tax differential. It's remotely possible that I could squeeze an additional 10K - 15K out of them.

My NYC friends talk a lot of smack about the "Bridge-and-Tunnel" people, and how they miss out on the real Manhattan experience, which is what I am most interested in.

But as far as B&T goes; What about Williamsburg? I hear good things about that place.

 

[Doodoo]

Originally posted by: Cal166

Originally posted by: Doodoo
Living in Manhattan could be rough on 70K a year. A friend of mine jis renting an apartment in Manhattan for 4K a month. On 70K I'd try and live just outside of Manhattan.

He must be making over 100+k to afford a 4k a month rent.

He is...he moved from Boston to take the position in Manhattan. He use to work on Wallstreet, but quit due to stress and health reasons. Now he's back in another stressful job, but he said having a nice place to come back to makes things alot easier. He would've never accepted the position if he couldn't have found a nice place within walking distance of his job.

 

[ultimatebob]

Nothing personal, but doubling your living expenses just to live in NYC just for the "fast paced city lifestyle" doesn't make a ton of sense to me.

That said, it might make more sense if you were Gay or Lesbian, but that's more of a cultural acceptance thing than anything else.

 

[Tiamat]

Originally posted by: polm
I'm 27, single, and a Network Engineer for a large Telecomunications company.

Currently I live in the Southeast US and my 70K per year salary goes a long, long way.

I'm thinking of making a move to NYC for a multitude of reasons, primarily looking for a change of lifestyle.

My company may only offer me the option to move latterally, thus making the same amount of money as I do know.

Would living in Manhattan on 70K per year be worthwhile? What would my quality of living be like?

After seeing how cheap stuff is down south (like Tennessee) and if that is what you are used to, hell no. You would probably need about 110k$ to live somewhat as nicely as you did down south.

You will most likely have to commute from out of the Big Apple in order to barely get by.