# Lifestyle in New York City (on this wage)



## progressivefiesta (Jul 25, 2013)

What quality of life could a mid-20's couple expect in New York City on a single salary of $100,000?

Work location would be lower Manhattan. We would expect a small furnished apartment in a decent part of town ($2,000 p/m?). Looking to go out a couple of times per week for food and drinks. 

Would that be possible or would it be too much of a squeeze?


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## grifforama (Mar 12, 2008)

progressivefiesta said:


> What quality of life could a mid-20's couple expect in New York City on a single salary of $100,000?
> 
> Work location would be lower Manhattan. We would expect a small furnished apartment in a decent part of town ($2,000 p/m?). Looking to go out a couple of times per week for food and drinks.
> 
> Would that be possible or would it be too much of a squeeze?


The average rental price is now nearer 3,000 You'll be hard pressed to find anything in Manhattan for 2000 per month.

If you were to look over in Brooklyn, you may find apartments nearer that number.

100k is a decent salary to be living nicely in NYC

I would give serious consideration to Brooklyn. Manhattan is nice enough, but it's not where most of the action is happening these days. Bushwick, Williamsburg, Greenpoint are all areas where there is a HUGE population of young 20 somethings. Just giving you some thought.

It would also depend on what sort of nightlife you are looking for . If you're looking for a more serious, college/after work type crowd, then Manhattan is where it's at. If you're looking for a more arty/experimental/cool type of crowd, then Brooklyn is where it's at.


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## wildest (Jul 25, 2013)

grifforama said:


> The average rental price is now nearer 3,000 You'll be hard pressed to find anything in Manhattan for 2000 per month.
> 
> 
> I would give serious consideration to Brooklyn. Manhattan is nice enough, but it's not where most of the action is happening these days.



I'm not sure I agree with either of these statements.

You can find something in Manhattan for low 2000's but it will vary depending on the time of year you look (June / July is peak time and you will pay the most).
Finding something furnished will be an added challenge though.

While I don't agree that 'most of the action doesn't happen in Manhattan' statement, I do believe that living in Manhattan isn't everything. Brooklyn has plenty of transport options which make Manhattan super accessible.

With that being said being in Manhattan and being able to walk, ride and do subway trips is a huge advantage. I like living amongst it.

On your 100k salary you're going to need to factor in tax (federal, state and city) and healthcare for you and your partner.

It's also worth noting that finding a rental will potentially attract a broker fee which can be up to 1 months rent and potentially require a security deposit of 1 - 3 months rent also.

I think it's going to be a squeeze but you can make it happen. There's plenty of good happy hours and food specials which you can take advantage of. You'll just need to put more effort into your organizing.


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## 2fargone (Jun 14, 2011)

progressivefiesta said:


> What quality of life could a mid-20's couple expect in New York City on a single salary of $100,000?
> 
> Work location would be lower Manhattan. We would expect a small furnished apartment in a decent part of town ($2,000 p/m?). Looking to go out a couple of times per week for food and drinks.
> 
> Would that be possible or would it be too much of a squeeze?


First off I assume you have your visa sorted?

Second I lived in Manhattan and Brooklyn $100,000 will be tight. I was a student on a tight budget, and also had just started working. Going out is very expensive food and drinks for two people will add up. 

Also you can really forget about finding a place that is furnished. That is very rare. I lived in Brooklyn Heights loved it could walk to Manhattan, but it was expensive. Expanded your search options and I agree included Brooklyn you get more bang for you buck there.


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## Newyorkaise (Nov 30, 2010)

Literally millions of people live in NYC on far less than $100K (the median household income is $66,400). And of course, whether you find NYC exorbitantly priced or not will depend in part on where (and how) you're living now - if you're accustomed to London prices, NYC will not be a huge sticker shock.

Renting a suitable apartment is going to be a big hurdle: the average price of a Manhattan apartment was $3,973, according to a January 2013 article in the NYTimes. See this industry site for current statistics: Manhattan Rental Market Report | MNS is Real Impact Real Estate

Take a look at streeteasy.com, aptsandlofts.com or the real estate section of the NYTimes for typical, relatively upscale rental listings. Go the the websites of the major real estate developers (Rudin, Related Companies, Silverstein...) and look for no-fee apartments. NYHabitat.com has furnished apartments available in NYC, but in general, furnished apartments are not the norm here. Avoid craigslist - many of those apartments are outright scams or illegal sublets.

One thing to note: New Yorkers, for the most part, do not entertain at home. Logistically, this has to do with the fact that most apartments are far too small to accommodate more than the occupants and maybe one wilting house plant - and besides, with all the bars, clubs and restaurants, why bother? So if you are tempted to spend more to get a fancy kitchen and space for dinner parties, think twice - all you need is room for yourselves. And don't put yourselves into rent-poverty for the sake of having an extra room for all those friends and relatives who are threatening to come for a visit - for what you'd spend additionally every month, you can afford to put them into a hotel if they ever really do show up. Think small, think practical, think close to transportation.

I can't be sure of current tax rates for couples, but you should probably count on having a good 30% (or more?) of your wages deducted by your employer for Federal, state, and city taxes and for FICA (social security/Medicare). With luck, your employer will pick up most or all of your health insurance - if not, the new insurance exchanges here in NYS will help you comparison shop for coverage. The recently approved individual rates for next year are significantly lower, in most cases, than current rates (thank you, Obamacare), but it's a far cry from the NHS...you'll still have co-pays for most medical visits.

One great advantage for your budget is that New York offers many things that are discounted or free: Signature Theater and Manhattan Theatre Club are among the excellent theatre groups that offer inexpensive tickets ($25-30) to the under-30 crowd, for example. 

Then there are free concerts in the parks, free movies on the piers, and a wealth of other outdoors activities in the summer months. There are flea markets and street fairs and parades. There are amateur sports teams of all sorts (including rugby, cricket, football and everything else from your side of the Pond). Bars and clubs are generally open until 4 - and you don't have to feel bad about sleeping late on a Sunday, since you can't get a drink before noon anyhow - so why go to brunch before then?

In any event, you should definitely come to New York. You won't starve, and even if you don't get to live like a king (or even little Prince George), you'll still be living in one of the most vibrant, exciting, creative, international cities in the world.


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## jcmatt (Jul 29, 2013)

I live across the river in Jersey City on less than half that. It is possible to find rentals for $2000 or so (cheaper across the river). And getting around NYC and having a social life doesn't have to be expensive at all. I go to happy hours, museums, parks, coffee shops, and I still save plenty each month.


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## Newyorkaise (Nov 30, 2010)

JCMatt has a good point: there are some very nice areas just across from Manhattan where rents are significantly lower, you get a lot more apartment for your money, the views of the city can be stunning, and there are lively bars, good restaurants and an active nightlife. And if you are working downtown, you may even be able to commute by ferry much of the year (which personally I'd find very cool). 

One word of caution: if you have one of those jobs that requires an 80-hour/week commitment, you may well find the commute more oppressive than just taking a 10-minute cab or subway ride home in the city. 

I had seriously considered parts of Hoboken and Jersey City back when I was working insane hours but realized that the prospect of the commute at midnight or 1 am on weeknights was more than I could bear (as a single woman, I wasn't all that crazy about taking the PATH train at that hour). But it's worth thinking about if your personal circumstances allow it and you don't mind being a bit farther away from museums, shows, etc.

Certainly, if you have a job with "normal hours" it wouldn't be hard for your partner to come in to the city to join you for an evening out during the week, and those cities have plenty to offer on their own.


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