$75k - $135k salary is middle class in NYC for family of 4 (New York: middle-class, real estate)
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"The report found the number of New York City middle-income neighborhoods was shrinking.
Other important notes include that New York City's median family income was a little over $49,000 and according to the officials surveyed for the report, it takes $75,000 to $135,000 for a family or four to have a middle-class standard of living. "
"The report found the number of New York City middle-income neighborhoods was shrinking.
Other important notes include that New York City's median family income was a little over $49,000 and according to the officials surveyed for the report, it takes $75,000 to $135,000 for a family or four to have a middle-class standard of living. "
Your joking. We make more in S. Florida. That sucks. I think that's probably for uneducated individuals that don't want to do anything with their lives. I highly doubt most people in NYC make that kind of money. It's just not possible to survive with that income. I think that report has to be off. I'm from NYC. I never heard of anybody living with a total household income of 49k. Does the husband and wife work at Burger King? That means that they make under 25k a person...what the heck...never heard of that in NYC. I think the beggars on the roads here in Boca Raton, Florida could pull in more begging.
Ok, Boca Raton was listed as one of the best places to live according to this web site. You make more money and even the homeless off the street do pretty well!
"The report found the number of New York City middle-income neighborhoods was shrinking.
Other important notes include that New York City's median family income was a little over $49,000 and according to the officials surveyed for the report, it takes $75,000 to $135,000 for a family or four to have a middle-class standard of living. "
The thing is that what the authors define as middle class living is VERY different than what most people think is essential. 'Entitled Consumers' who crave instant gratification, $6.00 Starbucks Lattes, and $500 designer jeans can define most of the 92% of those who say it is hard to enter the middle class. In reality it has never been easier but if you f**k around with your finances & hop from one job to another you will never get ahead.
It didn't say how many people get 'crowded out' of the middle class because most of their income is used to service credit card debt. Also, housing is governed by the market, affordable housing is a sham and in NYC open to fraud, abuse & waste. Why struggle to live in NYC on a 5 figure salary where you live as well or better in most of the country west of the Delaware river or south of Washington DC?? Why must all these tax credits start to phase out
at some ridiculously low level of income like the Earned Income Tax Credit..
I didn't see one word about taxes & utility rates. The overall tax burden in NYC is the highest in the country as are electric rates. The city is swimming in money and should eliminate the Personal Income Tax for individuals making less than $100,000 a year.
And appearances are very deceptive. I am sure that most of these 20 & 30 year old hipsters who are only making an entry level of $70,000 a year will never be able to live alone or buy any type of real estate because of the huge amount of money servicing debt. Not all of them who wear $400 Jeans and $2,000 handbags are working on wall street. I guess it is better to be a trend ***** and pay 18% interest and live with roomates or your parents than have health insurance and actually save money for the future.
And also, the average price of an apartment in Manhattan is only 1.2 million dollars and despite constuction at a 30 year high, inventory of apartments actually fell 0.2% meaning that demand is equal to or ahead of supply. Most of the buildings you see going up all around Manhattan where apartment prices start at close to 2 million are at least 80% sold by completion.
Your joking. We make more in S. Florida. That sucks. I think that's probably for uneducated individuals that don't want to do anything with their lives. I highly doubt most people in NYC make that kind of money. It's just not possible to survive with that income. I think that report has to be off. I'm from NYC. I never heard of anybody living with a total household income of 49k. Does the husband and wife work at Burger King? That means that they make under 25k a person...what the heck...never heard of that in NYC. I think the beggars on the roads here in Boca Raton, Florida could pull in more begging.
Ok, Boca Raton was listed as one of the best places to live according to this web site. You make more money and even the homeless off the street do pretty well!
You are right --- even entry level jobs with just a high school diploma pay over $50,000 a year around here. People who are graduating college aren't going to work for less than about $80,000 a year unless they have the luxury of living totally rent free or have their parents pay the rent. With all these people in their 20's and recent college grads buying up most of the condos going up in Manhattan you have to believe that the economy is doing well. Of course if you are African American or in some cases Latino you are already at a disadvantage when applying for most white collar corporate jobs in Manhattan.
Anyone looking for an apartment anywhere in the 5 boros these days knows that you must earn at least 45 times the monthly rent to be accepted as a tenant and it is very hard to find an apartment for less than $1,500 a month unless you don't mind living in south jamaica or southeastern queens near the belt parkway or JFK Airport. It isn't just Manhattan where there is a huge disparity between wealthy & dirt poor, but it is just as apparant in the other 4 boros as well where you have to be earning nearly $100,000 a year to rent a decent apartment in a decent neighborhood.
In Boca Raton the median household income according to CNN money I believe was 89k.
Perhaps South Florida isn't so bad after all. I am amazed I live in an area that pulls in more money than NYC. Hey, even we have to have more money than that to live on. By the way, our neighbor, who is African American just bought a beautiful home next to me. He has to be making a lot of money to own it. He drives a nice BMW...beautiful home!!! I'm glad for him. It's great to see people get ahead in life!
Anyway, after reading about all the complaints on the Miami boards, and then checking out the complains in this article...I feel pretty good about living in Florida. Problem is, many people here aren't very happy. I have been noticing so many miserable people down here and it really bothers me. I don't want to live around frustrated and depressed people who feel like they going nowhere. I want to at least be around people with some hope in their lives.
In Boca Raton the median household income according to CNN money I believe was 89k.
Perhaps South Florida isn't so bad after all. I am amazed I live in an area that pulls in more money than NYC. Hey, even we have to have more money than that to live on. By the way, our neighbor, who is African American just bought a beautiful home next to me. He has to be making a lot of money to own it. He drives a nice BMW...beautiful home!!! I'm glad for him. It's great to see people get ahead in life!
Anyway, after reading about all the complaints on the Miami boards, and then checking out the complains in this article...I feel pretty good about living in Florida. Problem is, many people here aren't very happy. I have been noticing so many miserable people down here and it really bothers me. I don't want to live around frustrated and depressed people who feel like they going nowhere. I want to at least be around people with some hope in their lives.
Well making $89,000 as a single person in NYC would probably only get you a tiny studio apartment well out in Queens and you probably would have to rely on the MTA (Subways & Buses) to get you around. But still just because he has a 'beautiful home' & 'BMW' doesn't mean that he is getting ahead in life. Looks & appearances are deceiving and everyone seems hellbent in keeping up appearances.
You sound just like another shallow, materialistic individual who judges people by what they 'have' (or don't have) and more importantly what degree of plastic wealth they can display to others (aka conspicous consumption).
He has a BMW?? So F**king what.. The lady in front of me at Pathmark paid with WIC food coupons for probably over $100 worth of food (much of it junk food) then went right to her Lexus SUV in the parking lot. I am so sure she is working a $300,000 job on Wall Street.
We have been in a massive credit bubble for the past seven years and it shows no sign or indication of slowing down. If things slow down, the federal reserve will just lower rates back to 1.00% again or maybe lower all the way to 0% to reinflate the housing bubble across the country.
Woah....calm down there. South Florida isn't all that.
Boca Raton is one of the richest towns in South Florida. I am guessing Weston is the richest down there. How could you even begin to compare Boca, a haven for rich retirees, to NYC? A more adequate comparison would be a town up here like Bronxville or Scarsdale where the average incomes are around $200k.
Why don't you take a look to your South in Miami. The average median income is $23k per year and the average family income is $27k. People in certain cities in Asia make more money than that.
The reason people are able to live on $50k a year up here is simple. There are a lot of people living in public housing. I just looked up a figure and it says about 500,000 live in public housing, which basically means it doesn't matter what their income level is, as long as it is a half-way decent fulltime job.
Also the rent isn't so bad in the outer boroughs. In a lot of the minority neighborhoods in the Bronx, Brooklyn, and Queens the rent is quite low.
Quote:
Originally Posted by Angelrocks
In Boca Raton the median household income according to CNN money I believe was 89k.
Perhaps South Florida isn't so bad after all. I am amazed I live in an area that pulls in more money than NYC. Hey, even we have to have more money than that to live on. By the way, our neighbor, who is African American just bought a beautiful home next to me. He has to be making a lot of money to own it. He drives a nice BMW...beautiful home!!! I'm glad for him. It's great to see people get ahead in life!
Anyway, after reading about all the complaints on the Miami boards, and then checking out the complains in this article...I feel pretty good about living in Florida. Problem is, many people here aren't very happy. I have been noticing so many miserable people down here and it really bothers me. I don't want to live around frustrated and depressed people who feel like they going nowhere. I want to at least be around people with some hope in their lives.
AngelRocks said: "I never heard of anybody living with a total household income of 49k. Does the husband and wife work at Burger King? That means that they make under 25k a person...what the heck...never heard of that in NYC."
Alright everyone, the middle class flight from Manhattan/NYC has been happening for thirty years now. It's not a new phenomenon. We've cried enough for it.
Now, Nick, what world do you live in to think that $89,000 gives you only a tiny studio in Queens?
This guy who lives in Pennsylvania, lost all sense of New York reality and doesn't know but posting "$500 jeans and $6 lattes" ten times a day.
Disgraceful.
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