Is It Really Expensive To Live In New York?

What salary do you need to live in NYC?

To live a comfortable and satisfying lifestyle in New York, even when you have roommates splitting the cost, a yearly income of $50,000 or more is ideal..

Is moving to New York City worth it?

Moving to New York is totally worth it. Sure, it might feel scary at times. You will have to work hard, to put up with its traffic jams, long working hours, small size apartments, high rent prices, high cost of living compared to other parts of the country, and so on. But in the end, it is always worth it.

Can you live in NYC on 30k a year?

Yes, easily, but you would have to share an apartment, paying about $750 per month for a room in the outer boroughs and far out in them as well, but at $30,000 your taxes would be low and you might still have $1,000 or so a month left for other expenses.

Is 500k a good salary in NYC?

$500,000 annually, even considering NYC expenses, would be rich, and closer to Top 1 Percent territory than Middle Class. Meaning one could live quite well on $500K.

Is 20k enough to move out?

Basically you should be able to live comfortably for 5 to 6 months without any extra income on 20K. But if you waste money then maybe you need to learn how to best use it first. … Invest some of that money and keep some of it in reserve and always add to it and you should be find.

How much does it cost to live in New York per month?

Cost of Renting in New York The high cost of living in NYC starts with its crazy housing market. According to a March 2019 report from Apartment List, the median rent for a two bedroom apartment is $2,499 in New York city. Studio and one bedroom apartments come in at $1,889 and $2,098 a month, respectively.

How much money should I have before moving to New York?

If you’re moving from within an hour away into the city, expect to spend at least $10,000 the month of your move. Again, you will likely spend more on food and entertainment unless you stay inside. If your move requires a longer drive or air travel, your costs will likely end up somewhere around $14,000.

What is the most dangerous part of New York?

Here are the 10 most risky NYC neighborhoodsBrooklyn Heights, Boerum Hill, Dumbo. … Chelsea and Hell’s Kitchen. … Bedford-Stuyvesant. … Downtown. … Fort Green and Clinton Hill. … Flatiron and Gramercy. … Brownsville. … Hunts Point.More items…•

Is 55k a good salary in NYC?

55k isn’t a bad starting salary in NYC. Most of my friends make around that (we’re all in our mid 20s, most of us moved here after college graduation). Yes, you will be living paycheck to paycheck. … You could also go into FiDi for an apartment, so you can definitely live in Manhatten for your salary.

Where can I live in NYC on a budget?

Here are a few more affordable neighborhoods in NYC to check out.Washington Heights (Manhattan)Flatbush (Brooklyn)Inwood (Manhattan)Murray Hill (Manhattan)Sunnyside (Queens)Bedford Park (The Bronx)All areas of Staten Island.

Can you live in NYC on 50k a year?

“I definitely think you can live comfortably on a salary of $50,000, even in New York City,” says Haskins. “It’s an expensive city, but I think if you know where your money is going and you recognize what your priorities are, it’s totally doable.”

Is 80k a good salary in NYC?

$80k is enough technically but it would be a far more comfortable situation to split a place 2 or 3 ways if hell bent on living in Manhattan. Wouldn’t leave you with a lot left over after paying a $2,000 rent bill plus all utilities on your own.

Can you live in NYC on 40k?

Yes you can, you won’t live the life of luxury and you won’t be living on the island, but you can work and live in the five boroughs of NYC on that salary. … My first job wasn’t much more than 40k and it was hourly non salary pay without benefits.

Can you live in NYC on 80k a year?

You can do quite well in NYC with 80k/year depending. If you’re sharing an apartment you’ll have a lot more buying power, but 80k won’t put you in the lap of luxury. … If you’re sharing an apartment you’ll have a lot more buying power, but 80k won’t put you in the lap of luxury.

Is 200k a good salary in NYC?

Your annual salary of $200,000 would end up being about $96.15 per hour. You’d live pretty good in NYC in fact you’d be able to live in almost every neighborhood in NYC. Rent average from 1,500 a month if you are lucky to 4,000 and higher but you could most likely buy an apartment with that kind of salary.