$50,000/year in NYC
How are people comfortable with these salaries? These salaries are horrible.
Posted Oct 12, 2015, 1:13 AM UTC
017
Dude, a lot of people get by on much, much less in NYC. A lot of these people also provide for a family.
13
If they have to support a family on that, then a combination of the following is also likely:
- dual incomes
- long term rent stabilized apartment
- NYCHA
- SNAP/WIC
$50,000 is fine for somebody in their 20s, living with roommates or alone in a studio, but you can't realistically support a family on that here without some combination of the above.
-3†
My parents never made more than 20k combined per yr in their lifetime while living in nyc. Raised 3 kids, owns a home with paid mortgage...put 2 kids thru college and never took a dime from housing, welfare, etc. Father now in his 60s still working and make like 15k yearly....so yea...50k is definitely doable.
Its sad that our generation are like strawberries...bruise easily and no sense of savings.
2
Your parents probably lived in the city back when it was ghetto and everything was dirt cheap.
-1
does not explain how they still survive with 15k salary today in nyc. after taxes and property tax...they left with <8k.
face it...if you cant survive in nyc with 50k...you are never going to make it elsewhere.
2
With roommates, 30+ minute commute, and good budgeting yes
Most places will require 40x salary for rent. Basically your max per month in most places will be 1250 this is enough for a place in Brooklyn like green point, Brooklyn with 3 roommates.
Create a strict budget with a focus on entertainment and food costs. Outside of rent that's you're most expensive items in NYC (imo). Transportation is cheap (~120/mo) and utilities are pretty consistent.
Find where you work and your commute you could like with. Then you'll have an idea of neighborhood to look into.
2
My first salary in NYC was $28k. $50k isn't some pauper's salary. It doesn't feel like a lot, but you can survive on a lot less.
2
$28,000 isn't a lot if you can't cook, don't live with roommates and can only handle lower and middle Manhattan.
-2
Cooking is important in a budget, but not hard to learn. Roommates is part of living in NYC on a budget.
But can't handle beyond lower and middle Manhattan? What does that even mean? That is some massively entitled bullshit. It's not like you turn into a murder victim the second the subway car enters the boroughs.
8
[deleted]
1
Hmm. Well I live on wayyyyyy less than 50K. Just shy of 15K to be exact. And I live alone somewhat comfortably. How? I live in NYCHA AKA "The projects." My neighborhood is considered bad but really the worse is yelling neighbors and playing music. I can easily live with these shortcomings as my rent is a mere $250 for a 1 bedroom apartment. If I wasn't living here I would obviously not be able to pay the absurd market rate apartments. The only other way people survive here in NYC besides NYCHA is living in a college dorm using financial Aid, 3-4 roommates, live with their parents, couch surfing, having a rich boyfriend/girlfriend, Michell Lama (Another low income program).
1
My first 5 months in NYC was on a salary of $50k. It is certainly doable if you don't have any large outstanding bills. You HAVE to budget though.
I blew through $6k in savings in about 6 months from all the drinking and going out I was doing when I first moved here.
-1
When I was living in the city, I was on a fairly large hourly rate. My expenses (rent/food/travel) was about $4000/mo. While being young and single.
If I wanted a girlfriend and an apartment large enough to have a family in Manhattan, I would need at least $10/20k per month.
-2
20K per month after taxes you mean? I think that tax bracket pays 50% taxes so really you're saying that you need at least 250-500k per year?
2
Correct.
0
It'll be a struggle.
-8
Not sure why you even created this post, but 50k is a respectable salary, especially for those right out of college. And with 50k salary, one can be financially comfortable in NYC. You probably won't be living in a luxury building, but you probably aren't going to be poor either, provided you have no student loans and minimal outside expenses (kids, mortgage etc). Without having to pay for a car and car insurance, one could put ~40% of monthly wage towards an apartment and be comfortable. You will probably live with roommates and have a 45 min+ commute, but it's not bad. I know people that make way less than 50k and are happy in NYC. Granted, most of these people are in mid 20's with minimal outside expenses.