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Obviously DC is more affordable, but by how much? Salaries seem higher in DC so is an average person better off there financially as opposed to NYC? Particularly interested in comparing COL in the suburbs of these cities. (Northern NJ, MD and VA)
In NYC, you need to make it high up in the food chain - like a Wall Street banker or something - to rake in the real money and afford the COL. Be prepared to work 80 to 100 hours a week if you really want to make it in NYC. But otherwise yes, DC is more affordable than NYC for the average person (who "only" works 60 hours a week).
Of course, NYC is a cultural megacity - which is a reason that it attracts so many people in the first place.
Last edited by BigCityDreamer; 01-22-2013 at 01:52 PM..
The cost of living in these cities really depends on how much you are going to take advantage over what the cities offer. If you want to live a Columbus Ohio lifestyle in DC, then it is going to seem outrageous. However if you hit up all the cultural amenities there on a weekly basis, it becomes more worth it for the experience.
Obviously DC is more affordable, but by how much? Salaries seem higher in DC so is an average person better off there financially as opposed to NYC? Particularly interested in comparing COL in the suburbs of these cities. (Northern NJ, MD and VA)
I don't think it's much more affordable if you're a renter. What's the difference between paying $2,400 for a one bedroom apartment in Logan Circle and $2,800 for a one bedroom apartment in Midtown Manhattan. Both cities are ridiculously expensive, imo, so I wouldn't call DC that much more "affordable" based on the 300 bucks or so you'll save on rent.
The biggest difference between DC and NYC is if you're in the market to buy. A one bedroom condo in Harlem costs the same as a 3 bedroom rowhouse in Mt. Pleasant.
This is my experience, albeit it was a while ago. I live in DC and was offered a job in Manhattan nearly 10 years ago, which I declined. The job in NYC paid essentially the same salary as DC. At the time, I had a 1BR condo with underground parking 4 blocks from Dupont Circle metro. There was NO WAY I could replicate my lifestyle in Manhattan vs. what I had in DC. One key reason why I stayed put.
One thing to add is that DC has a lot of free stuff to do--all the Smithsonian facilities (museums, Zoo, what have you) with everything they have are free. New York-- good luck finding a bench you don't have to pay to sit on. Don't get me wrong, I love New York, but you have to spend money to enjoy it. In DC, like everywhere, the same applies, but you can take a break when you need it, courtesy of the Federal Government.
the thing i notice tho is that since DC is a newer city, a lot of the apts are newer and have w/d and parking, esp in the burbs so while they cost a lot too, they are cheaper than nyc/nj jus cuz theres more of them while here 95% of housing is old as hell so any newer unit is highly sought after and thus very expensive so for someone who needs parking for example, dc area would be more affordable, is this a fair assessment?
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