Nikkii55

I have had a look on Streeteasy but it can be difficult to compare when you don't really know what you're comparing etc. it seemed there were affordable places but that doesn't take into account some of the issues you've mentioned, of course. It looked like we could afford places in Hell's Kitchen and Midtown which I doubt is the case. Our friend lives in Queens and we know her apartment is tiny. She has the same job as my partner in the same company.

My partner is a picture desk manager at a photo agency - basically supplying images and paparazzi to the worlds media - so yes she is in a managerial position and it is relatively specialised, but obviously not in the way that a doctor or a teacher is!

Nutmegger

And I lived in NYC for thirteen years on a low salary and loved every second . . . but it was the seventies, I happily lived in Jackson Heights where my one-bedroom cost $350 and my parking space $75 per month, I had no family, was in a business where my entertainment was paid for, my boss sent the car service to pick me up every morning, bought lunch every day, and provided the best HI that money could buy. . . if I had to start from scratch these days, it wouldn't be feasible.

tht

Would it be easy no, but it is doable, yes, my now wife moved to NYC alone as a grad student and then got a job in publishing that paid about what the OP is talking about (not the combined for 2 of them) as the starting salary (and paid her own rent), and that was maybe 6 years ago, did she share a tiny apartment with a room mate, yes, did she only go to bars that had happy hour, yes, was she living the high life, no, but she did it and had fun. Her room mate earned even less working for a non profit, but as seems to be the case with many young people who move to NYC for a first job, her parents paid her rent.

tht

I moved on a much higher budget, but in renting my main issue was actually getting someone to rent to me, the first place I found via a broker would not accept a letter from my employer guaranteeing my rent, they wanted an individual co-signer, or for me to pay 12 months rent + the security deposit in advance (which I did not want to do to an LLC I had no information about). I ended up renting direct from company that owns lost of buildings and does not use brokers (to save the fee).

My place was a basic "2 bed" walk-up on east 5th street in the east visage. 1 bed room was big enough to basically fit a full (double) Ikea bed and nothing else. The other one was bigger and I used it as my living room, because it did not have one (both rooms had closets which make them bed rooms) but i could not open the one in the small bed room due to the bed being in there.

I managed to get it by signing a short term lease for 3 months and essentially paying them 5 months rent up front with 2 months being the security deposit. After the first 3 months they were fine letting me sign a longer lease.

So when you are looking at apts, don't just assume you will be able to get approved even if you can afford it on paper. They also all use some 40-50x rent salary multiple I never really understood:

"Landlords in Manhattan typically require a tenant to earn an annual gross income (before taxes) of 40x to 50x their monthly rent. For example, a renter that pays $1,500 for a studio apartment would be required to earn gross annual income of at least $60,000 to $75,000 depending on the standard used."

Nikkii55

Thanks for that...that's teally useful insight and good to know at this stage!

Jerseygirl

Then there more than likely will be several thousand per year for healthcare insurance payments...assuming the company are contributing too. Co-pays, deductibles, meds etc should one of them be sick. Rent, utilities...that really doesn't leave much for two people to live on.

tht

All very true, some things cost more, e.g. cell (mobile) phone, TV/Internet, groceries in NYC and in other areas you can save money. Living in the EV I was able to walk to work so I saved on transit costs vs tube from zone 3 to zone 1 in London. And taxis are way cheaper. Even now getting home costs me maybe $25 and for a similar distance in London it cost me maybe GBP 60+.

I was actually in a similar situation when I went to live in NZ for 3 or 4 years. My expenses were maybe NZD15-20K a year more (mainly on international flights) than I was earning, but I knew that going in to the move and was prepared to invest in that experience for a few years, and have no regrets.

Best way for the OP to understand is to build a spreadsheet with current costs and then do a best guess for NYC and compare.

retzie

Why would anyone in their right mind try to get their own place in the East Village on a tight budget??

OP: You shouldn't consider living in Manhattan. The extortionate rent to space ratio is really not worth grappling with unless you're comfortable financially (or at all IMO - I wouldn't live there, regardless of my salary). For a young couple, look at Brooklyn, Queens, and New Jersey - work backwards along the transit links from where your fiancée will be working. Ask her future co-workers. You might also want to look at apartment shares on Craigslist and get an idea of what living with roommates would do for your budget.

Since you're only thinking of a short-ish stay, I'd highly recommend going the roommates route - you (a) save money on rent; (b) avoid needing to furnish a whole apartment ($$$, hassle, and then a bunch of crap you need to offload when you leave); and (c) often dodge credit hurdles. Given the housing costs, it is very common for young (and not-so-young) professionals to share apartments here, so it's not like your options will all be college stoners. I think roommates would make the move totally do-able and probably even fun; trying to get your own place, a lot will hinge on whether you get an okay-paying job yourself.

As for a washer and dryer - they are a luxury!! You'll find in NYC that laundromats are ubiquitous and almost all do 'drop off' service - you leave them your washing; they wash/dry/fold nicely; you pick it up. Many also offer a pick-up and delivery service of same. I have had friends whine when they move away and are supposed to put clothes in the machine themselves

tht

Because its a fun place to live and a lot cheaper now than places like Williamsburg (Brooklyn). If someone was moving to NYC for a year living in NJ would basically defeat the whole purpose of coming... I stayed in a corporate apt in Hoboken back in 2004 and that was a fun place, but its nothing like being able to walk out of your door 24/7 and having fun things to do like the East Village. I found the lack of subways there made it less touristy than a lot of other neighborhoods.

I really think people sensationalize what living in the city is like, lots of people have cars, wash dryers etc

Yes you get a lot less space for your money in some areas of Manhattan, but if you are moving there for a year its not to watch cable TV at home every night... I only moved out to Williamsburg so I could have a car (and car park), roof deck, washer dryer etc because we were having a baby, but I could move back to Manhattan tomorrow and pay less.

retzie

Well, I'm not sure how helpful it is to compare it to one of the most expensive parts of Brooklyn...

There aren't going to be a whole lot of fun things to do if you're spending 70% of your take-home salary on rent

There are lots of fun things to do in neighbourhoods across Brooklyn and increasingly in Queens (I'm not sold on NJ, personally, but I have friends who insist). Then there's the fact that public transit runs 24/7 and cabs are cheap. It is a much easier city to live far from the action than most I've encountered.

I mean, I'm sure living in the EV is pretty sweet, as would be having a private helicopter, but if it's out of OP's reach, why mention it?

Aaaand lots of people living in the City earn high 6-figures and above.

Well, if you're living in W'burg with all those creature comforts, I'm not sure how in-touch you are with the OP's budget...

To the OP: there is absolutely no reason to think that living outside of Manhattan (or Williamsburg) will condemn you to a life of sitting around the apartment watching TV. There are many many fun things to do outside of Manhattan, which are arguably improved by virtue of the fact than Manhattan people are too scared to leave their precious isle, so you can enjoy some peace and quiet without them . Even so, there is always the option of heading in on the subway when you need your City fix.

NYC is a magnet for high achievers and yes, they often command the big bucks. However, there are legion locals who live a simpler, happy existence on much more modest wages (and despise the way money is ruining their city...)

tht

A few responses inline in BOLD..

mikelincs

I suspect that in NY, then you might well struggle with those salaries.

Nutmegger

Brooklyn, the Bronx, Staten Island, and Queens are all part of "the city." NYC isn't just Manhattan. I was strictly "bridge and tunnel" all the years I lived in NYC because that was what my budget mandated, but I don't feel that I missed out on a thing. I worked and enjoyed the entertainment and dining in midtown, just slept somewhere less expensive! Plus, living in a diverse working-class neighborhood put me far more in tune with the feel of the city than residing in some tony Manhattan neighborhood could ever have done.

retzie

And basically the entire rest of Brooklyn and all of Queens is cheaper than both.

Well, I guess it depends what you mean by 'full experience'. Wanting to throttle NYU brats is not high on my to-do list.

Errr, I somehow doubt Section 8 will be an option for the OP...




Most of my friends are locals born and bred. Not sure how much of an 'experience of the city' the latest jackass banker from Ohio will offer? Don't get me wrong, it is an experience of the city, but it's certainly not the only one.

tht

Agreed, where you live will dictate the kind of experience you will have, and there are lots of different ones/places to choose from depending on what you can afford / are in to.