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.
An amount below 100 means New York is cheaper than the US average. A cost of living index above 100 means New York , New York is more expensive . New York cost of living is 120.5.
|COST OF LIVING||New York||United States|
|Median Home Cost||$305,400||$231,200|
However, NYC *is* worth living in to many people. If you make over a certain amount, NYC is a playground. You can live in beautiful spaces and it has everything you could possibly want – any kind of food, entertainment, sports, parks, and access.
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.
“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.”
$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.
The median price of homes currently listed on the market is a whopping $779,000, according to Zillow. The median asking price of Manhattan homes in November 2019 was $1.6 million, according to StreetEasy’s Price Index metric; in Brooklyn, it was a little over $969,000.
11 Cons of Living in New York City High Rents and Property Costs. The cost of buying real estate is prohibitive to most people, and rent prices are astronomical. Expensive Living Costs. It is an expensive place to live in other ways, too. Fast-Paced. Employment. Traffic. The Weather. Attitude. Familiarity Fatigue.
Conclusion: Overall, LA Wins That’s a different story than calling LA “ cheaper ” than New York. They’re both expensive cities with a higher cost of living than most other places in the US, but what you can get for your money on the West Coast is simply more than the East Coast alternative.
Here are just some of the pros and cons of working in New York City . Con: Lots of Competition. There are a lot of people in New York City . Pro : Lots of Opportunities. Con: Higher Cost of Living . Pro : Higher Salaries. Con: Transit Complications. Pro : Mobility. Con: Overstimulation. Pro : Great Networking / Social Scene.
Here are the 10 most risky NYC neighborhoods Brooklyn Heights, Boerum Hill, Dumbo. Chelsea and Hell’s Kitchen. Bedford-Stuyvesant. Downtown. Fort Green and Clinton Hill. Flatiron and Gramercy. Brownsville. Hunts Point.
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.
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.