Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I'm just out of college and making 40k a year. The place I work in is in Manhattan and I've always wanted to live here. Is it possible to live in Manhattan on this low of an income? I'm not really looking for for anything nice. Actually, to be honest anything will do - no matter how crappy and small it is is fine with me as long as it's somewhere in midtown or below. I'm completely ignorant about what's "cheap" in Manhattan and what's not. Thanks for any help.
You would need to rent an apartment with a few other roommates, and it will cost a lot. My daughter recently paid $4,500 a month for a two-bedroom they made into a 3-bedroom, and she had two roommates, and they had their significant others. Three couples shared the $4,500 rent. They lived in the Stuyvesant Town/Peter Cooper apartments. (You can find their history on Wikipedia.)
We pay $700 in a mortgage payment for a 5-bedroom, 3-bath house in North Carolina with a big yard in the city -- just for the two of us. So from my perspective, Manhattan apartments cost a lot.
Last edited by lovebrentwood; 10-28-2012 at 12:13 AM..
You would need to rent an apartment with a few other roommates, and it will cost a lot. My daughter recently paid $4,500 a month for a two-bedroom they made into a 3-bedroom, and she had two roommates, and they had their significant others. Three couples shared the $4,500 rent. They lived in the Stuyvesant Town/Peter Cooper apartments.
We pay $700 in a mortgage payment for a 5-bedroom, 3-bath house in North Carolina with a big yard in the city for the two of us. So from my perspective, Manhattan apartments cost a lot.
I agree, roommates is the only way to go if you are earning $40K and want to live in that area. You could only afford $1000 in rent (40x rule) and you aren't going to find a $1000 apartment.
Regarding the Stuy Town apartment, I am surprised that putting 6 adults in a 2 bedroom apartment didn't exceed the legal occupancy limits.
I did it for years. If you do a private sublet (i.e. your name is not on the lease) you can go below the 40x rule. It all depends on what you're willing to sacrifice/put up with. $1,200 is about as low as you can go in Manhattan and have your own bedroom, but they're getting harder to find downtown. You might have to go up to $1,350 or so.
Yes, if you're willing to have 5 roomates and live in a closet. Seriously, why would anyone subject themselves to these living conditions just to live out a fantasy?
Yes, if you're willing to have 5 roomates and live in a closet. Seriously, why would anyone subject themselves to these living conditions just to live out a fantasy?
Young people! That's what they're SUPPOSED to do!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
