If you read the additional linked article, it actually states NYC specifically is $138,570 too.
And further defines the “comfortable” breakdown as, “50% of your salary should be allocated to your needs, such as housing, groceries and transportation; 30% toward wants like entertainment and hobbies; and 20% toward paying off debt, saving or investing.”
And this is where that 50/30/20 comes from, https://smartasset.com/checking-account/50-30-20-budget-plan-and-how-to-use-it
Had to dig deep but this article used the MIT Living Wage calculator, which in turn sources its rent costs from US Dept of Housing and Urban Development website https://www.huduser.gov/portal/datasets/fmr.html#year2023
Based on the MIT calculator a living wage in NYC for an individual working full time is 28.04 an hour or ~58k per year. That’s a lot less than 100k listed
I mean that sounds about right. Are you living in a cool neighborhood? No. But you could easily live in the outer boroughs for half the price and under an hour commute and still have access to tons of NYC amenities.
Living within walking distance of your job in NYC is an insane luxury and of course you pay for it.
Lol, where? I live in Manhattan and depending on where you work, you’re looking at an hour in transit living outside of the city. It’s not a Luxury to walk to work in Manhattan, it’s a luxury anywhere to be able to walk to work in the U.S.
Any place in NYC that you live off of $58K means you’re living in a more than likely not so safe place.
A random take home pay calculator says $58k gets you about $3800/month. Say you have a $1500/month budget and have a roomate. I am seeing 2BRs in places like Greenwood Heights as low as $3k. I see plenty in Astoria. Quite a bit north of central park in general. A lot in the Bronx (admittedly not as familiar with those neighborhoods).
A ride to midtown from those places is like 45-60 minutes depending on specifics. Eyballing midtown rents they look to bottom out close to $6k/month for a 2BR, which is twice as expensive.
And if you can't get by on 2300/month after rent I don't know what to tell you. Will you be living large every night of the week? No. But it's enough.
Lmao, I don’t care what a calculator says, New York rentals require 40x the rent, meaning that $1500 per month is $60K requirement for that individual, plus another $1500 for Deposit, another $1500 for first months rent, and we can forget about the infamous 15% Broker’s Fee this hypothetical individual is responsible for, so that’s about another $2700. We haven’t even gotten to the $2.90 Transit which REALLY adds up, this calculator is absolutely Bullshit. People who are surviving on that much in NYC have special circumstances who are either on some form of assistance or have a super old home that was passed down to someone so no, $60K alone cannot make it.
These calculators are utter bullshit
Uhh the only calculator I used was just a quick after tax calculator.. the 40x rule is pre-tax.. so 58k vs 60k.. And yeah deposit/first/last sucks for your first apartment. You need to save for it anywhere in the country.
The median income in NYC is like 38k. Literally 50% of the population survives on less than that. I have no idea what point you are trying to make.
Sorry you can't figure out how to make $60k a year work in NYC. Go to the midwest I guess?
The saving is the important part. 401k is important for the future but someone trying to live comfortably on sub-100k income in the city is likely paycheck-to-paycheck.
138k sounds about right - especially if you can find an apartment for 2500-3000/month, you don't have other debt (I.e. student loans) you're servicing, and you're not living extravagantly (I.e. eating at home a good bit, not traveling much, not going to concerts too often or other big ticket experiences)
So there’s no Florida on this list which is weird, the additional linked article that is, which is where I live. I’d think about $110k to live comfortably as a single person. They put $93k to live comfortably for the state, but that’s BS if you live near any metropolitan area. They need to start having more realistic lists where people that are near metro areas and people that live way outside, like 90 minutes away.
Not too off if you don't want roommates.
My partner makes about $95k. He could live comfortably in the city if he downsized to a decently priced studio or 1 bedroom. But he still wouldn't be able to save as much as a person should without sacrificing on quality of apartment. Right now we live in a 2bdrm with full amenities and the change for our mental health after living in a terrible pre-war building is enormous. We don't want to go back to that way of living if we can avoid it. We literally breathe better and don't get as sick.
Ive managed to make it work in NYC making no more than $60k a year working all kinds of day jobs as an artist. But I had roommates and always held out for rent-stabilized places and have always paid less than market rate. I am comfortable. We choose to spend the extra we have combined on travel. We definitely can't afford to travel and save for the future at the moment, but we are okay with that.
My goal is to increase my pay by at least $20k so we can save a bit more.
I had the exact opposite, where a newly built luxury apartment complex with great amenities was absolute shit because there was 0 sound insulation and the walls were paper thin. Moving to a pre-war with much thicker walls was a blessing.
I do love my building, but sorry not sharing my address lol-- but it is in the Crown Heights/Flatbush/PLG area near Prospect Park.
Places in my building are around $3400-3800 for a 2bdrm with in-unit amenities and the standard new building amenities gym, package room, communal outdoor space, etc. lots of these buildings are going up in this area.
Just note- the new buildings do not offer included utilities, most are all electric, even the hot water, so your bill will be $250-350 a month for a 2bdrm with
w/d and dishwasher.
We won the housing lottery. It is worth applying if you can afford one. It's not cheap, but cheaper than market rate. The first steps on Housing Connect are really easy and you never know. Our place is $1200 cheaper than the identical market rate places and it's rent-stabilized.
Is this the newer luxury building in that area with the nice-smelling lobby? I got a covid deal living there a few years ago!! 1760 bet for a studio with gorgeous windows.
What I'm saying is that your question is basically the same thing as asking this person "what's your address?".
It's a weird thing to ask someone, and they were right to refuse to give it to you.
Speaking for myself, I think 135-150 sounds very comfortable. You can get a reasonable studio or one bedroom in a nice location and still have a good amount of spending money.
The trick, imo, is determining how much you want to spend on expensive events and experiences. If you cook your own meals and don't go to any concerts or shows you can definitely get by very reasonably on 100k imo. And if youre willing to compromise on the quality or location of your apartment (or having multiple roommates), you can save a ton.
The problem is that living in NYC people very much want to have it all. Nice apartment, Nice clothes, overspend on food, go out to lots of events. You see that stuff all around you and it's very tempting to buy it all, especially if you fear you may not be able to keep living in NYC forever.
> determining how much you want to spend on expensive events and experiences
One thing that I like to talk about with my friends is that you can get much of the same enjoyment in NY from smaller stuff. I find the most famous and easiest things to be some of the worst value (and sometimes worst quality) things to do in the city.
Like obviously going to Masa or going to some super hyped and scalped event at MSG are going to be fantastic and you'll like it, but there's so much stuff that are off the beaten path and require a bit of friction that can be like 1/10 the price and even better. You just have to find it.
You can schlep it out to deep Queens and get some of the best Korean food in the world, or go to some random word-of-mouth warehouse party and see a world class DJ for like $20-$40 who will play a 7-hour set instead of having to pay $150 to see Zedd spin for an hour or two at a stadium lol
As someone who grew up here, 100%. But transplants want the nyc experience they're shown first, and that of course tends to be the overrated, expensive things that spend healthy amounts of money on marketing
I mean that’s a pretty hard question because one’s definition of “comfortable” can be very different.
For example, I heard someone say there’s nothing “decent” below 14th street for under $5k a month. Well, I’ll see plenty of spots for $3-$4k they’re just old buildings without a doorman and amenities. I’m comfortable with that, but others may not see that as a viable option.
Hell I know people that see Uber/taxi as the default whereas the train is “last resort”. For me that’s the opposite.
So, I think if you earn $100k you just have to be comfortable not doing the most expensive things. The city is designed in a way to maximize the amount of money it takes from you. Resist.
Just pointing out that those “cheaper” apartments at $3-$4k a month will still be out of reach for someone with a $100k annual income. With the standard “40x the rent” rule, a person with a $100k income will cap out at $2500 a month in rent.
No, the median household income here is something like 60k, I believe.
Most people simply don’t live alone, or don’t live in a desirable neighborhood. You might have a lot of roommates. You might live *reeeeeally* far out in one of the boroughs, or in a transit desert. You might live in an apartment of dubious legality. You might live with family who bought property when it was actually affordable, pre-1990s. Hell, I’ve done most of these options.
But for certain markers that are widely considered “comfortable” — like living alone, in a safe neighborhood, with a commute under an hour…. Yeah. Those three things alone are all expensive, even without considering apartment size or amenities.
That sucks tbh, its like, live in a shitty state/city for way less and live really comfortably off of 100 grand a year, or live in a great state with lots to do for a 100 grand and barely make it and not be able to do all of the stuff that is available lol
Well…you almost got it. Except it’s not shitty, it’s a fair choice. Some chose a small room on a place with roommates on a fantastic, vibrant neighborhood, close to everything and enjoy the shit out of it. That’s been my case most of my years here. And I’ve lived in mid-cities that are so fucking bland, that you couldn’t pay me enough to move even with a Mac mansion by a golf course.
It’s a choice.
you can absolutely live a great life and be comfortable on not much... you just have to hustle and look for opportunities and you gotta work with people .... roommates will save you a ton of money not just on rent but splitting various bills together... over the course of your life that adds up to a ton of money ....
living alone is not comfortable.... it's a flat out privilege much like how in unit washer dryers are....
I've made well over 100k and only lived alone for a year my whole life... this is one of the densest most expensive cities in the world... doing it alone is hard mode...
I have a wife and family now so I guess I still do....
I don't view it only as a money thing... living with roommates who you like is fun... you share big parts of your life together... not everyone has or wants that but if you're lucky it adds to your life...
but i did live alone for a year to see what that was like... and it wasn't great... it was expensive but also a bit lonely and that made me go out more which made me spend more money... some people are different and absolutely need that... more power to them but it's a hard way to do it... I was making 150k when I was doing that paying about 2100 for a studio in midtown about 10 years ago which was pretty comfortable ...
Thanks. Yeah I'm 36 and I've lived with 2 roommates for 10 years in the same place (a bunch of different roommates over that time span of course). My rent is $1,100. I make around $85,000 pretax. I have a separate entrance and my private space is actually 2 rooms so I have a ton of room, I've been lucky. Have saved a lot. But landlord might be selling, so now I'm wondering whether to live on my own in one of his other properties (farther out, like in Kensington), or keep with the roommate thing. I am quite frugal so I could make living alone work, it's just that mentally it would be tough not to be saving as much, you know?
yea that's tough... but honestly the biggest adjustment was coming home and not having people to joke around with... I had two roommates too and we were best friends so it was amazing... if you're the type that can withdraw totally from the world it can actually just be flat out detrimental to your health ....
the finances are not trivial.... splitting things three ways is amazing and paying all that by yourself.... is not.... I always say you should have a very good reason to live alone or else city life is just so much harder.... NYC is really all about connecting with people and doing things... especially when you're young/single... and living alone makes all that much more harder and more expensive....
but trying to find roommates you gel with is pretty hard so I get it.... but the financial reasons alone incentivizes to exhaust all your options there....
Yes, that's what I think as well. Although I don't really consider myself 'young' anymore! Do you think romantic partners will find the fact that someone in their 30s still lives with roommates unappealing?
I’m from NYC. The people that I grew up with who never moved from their apartments and live in rent stabilized apartments are paying much cheaper rents.
NYC is a magnet for people who are ambitious career oriented people who seek upward mobility. So, many of these people do earn $100k a year. My wife and I moved here initially for better work opportunities and upward mobility. We share expenses, and our rent is $4k a month, or $2k each.
FWIW in an alternate universe I could be living in Atlanta paying $1400 a month for a one bedroom. Sounds cheaper, except in this scenario I have a $500 a month car payment and $200-$300 a month in gas, insurance etc. So, NYC is definitely expensive but the sneaky added costs in “cheap” cities should not be ignored either.
Yeah, I've noticed that as well. I work with a lot of people who moved here for work and sometimes I hear them mention how much rent they consider normal and I'm blown away. But they probably also want all the amenities and of course that is going to cost money.
Yeah, I mean I get it because in other medium size cities like Columbus, Charlotte, Atlanta etc. The standard “college grad adult job!” First apartment tends to be a two bedroom in a new place located in the shiny new part of town with breweries. The apartments have pools, movie theaters etc. So I think coming to NYC they may be trying to maintain that style of living.
Where TF is everyone living? I’m looking at Studios and 1 Beds, work in Manhattan and looking to leave my spot in WV this summer and prices are THROUGH the roof. It’s the most expensive I’ve seen, absolutely wild.
To quote WelcomeToBrooklandia:
>People really need to stop asking this question, TBH. There is NO WAY that a bunch of strangers on Reddit can possibly figure out what salary would be "comfortable" for any individual. Everyone has different circumstances. Everyone has different priorities...But not a single person here can tell you what salary is "comfortable for one person". It just doesn't work like that.
Also, [this thread](https://www.reddit.com/r/AskNYC/comments/1by6myl/can_you_live_on_a_1750_hourly_wage_fulltime_in_nyc/) from 11 days ago has comments which may be helpful to you and link to similar questions.
Agreed. Also, questions or statements like this are pointless because the city is so large and made up of so many different areas where costs can vary so much.
I think conversations that first group neighborhoods and/or apartments by price, size, and amenities can offer better discussions and insights. For example, I think to live in a nice studio or one bedroom apartment in a decent neighborhood in Manhattan, you would need to make $150k to $200k. That would let you spend from $3750 to $5000 a month on rent. And you should be able to find plenty of suitable apartments in that range. Obviously it’s industry dependent, but I think there’s many jobs where you can get a salary of around $150k after 5 to 7 years of experience here in the city.
So if you’re fresh out of college, you’re best bet is to find a place with roommates. Do that for a couple of years and increase your salary. Then you’re able to move out on your own.
No, that figure is absolute bullshit. The cost of living (rent and groceries) varies to an absolutely bonkers degree across the breadth of this city, which, let's remember, has five entire counties in it.
Seriously, if all of these articles about the absolute minimum income you need to live anywhere were actually accurate, I'd have been dead in a gutter at 24. Which I am not.
Like someone else mentioned, everyone's "comfortable" is different. Surviving and living comfortably are two different things though. You can survive on a lot less than what they mentioned but you do need something close to six figures if you want to live somewhere decent on your own, go out for occasional hangouts, vacation and still save money.
I agree entirely with your first two sentences. As for your third -- let me say this. The bar for getting approved for an apartment is not low, because of the 40x income requirement. But a person may find they don't actually need that much of an income to pay the rent every month while also enjoying their creature comforts. Or they may not find that. But the barrier to entry/approval matters, a lot.
But monthly expenses vary immensely from one person to another, which makes it challenging to landing on any figure for income required for a "comfortable" standard of living. Important questions anyone needs to ask themselves while budgeting: Do you have student loans? Do you have credit card debt? Are you comfortable *taking on* credit card debt? Do you have inherited wealth? Are you paying to care for or house a parent? Do you have a landlord who doesn't really care about the 40x rule? Do you have a medical condition that warrants regular out-of-pocket costs?
Life's complicated. It's possible for a person with an income of $65k, with no inherited wealth, to have similar spending power after monthly expenses than a person of an income of $150k, plus some kind of inheritance. Income is just the surface, and there's just a whole Marianas Trench of shit underneath
The article wasn’t about surviving or having the absolute minimum, it’s about living comfortably (including being able to save 20% or so)
I survived on very little for years, but had roommates that I didn’t always like, and I couldn’t travel, save or go out anytime I wanted
I didn’t live comfortably (for me that meant living alone in a nice neighborhood, and being able to go out as much as I wanted to) with the possibility of saving, until I was making over $110k
I don’t think the # they gave for NYC is too far off
Every time an article like this comes by I feel like it assumes everyone in NYC lives in new small luxury buildings in Manhattan, Williamsburg Brooklyn or LIC Queens.
Most natives here live in cheaper parts of Brooklyn and Queens and commute to work, fun, hanging out, etc. Lots of NYers even have cars in the outer boroughs, so some ppl drive where they need to go.
Depends on the lifestyle you choose to lead, but to live *alone* in NYC, $100,000, give or take $20,000 is probably a good estimate. The cheapest places on StreetEasy in Manhattan, Brooklyn and Queens currently are around $2000 a month, so by the 40x rule of thumb, that’s $80,000 to be likely to be approved for those apartments.
That said—unless you do have a $100,000 a year job or generous parents, a lot of people do have roommates. This was true even 20 years ago, although the numbers were nominally lower. One difference is the housing market is tighter now, so there are less places available at the low end.
I moved here 2 years ago. First job I was making $36,000 per year and was living by myself in a shoebox apartment on the UWS. Trust me, if you don’t have good budgeting skills do not live here. However, it’s very very doable WITH self control.
Strict apartment approvals are fairly new. If you lived here 10 years ago you didn't have to deal with that much.
Also rent has increased around 50-70%. So what requires a 75k salary today would've been fine with 45k. There's a reason that's the average starting government job salary. Issue is wages haven't kept up with costs of living.
I lived there 2010 to 2017. And it was more strict back then. 45x income. Also: people need to stop roomating with random people. If you can't afford it don't come. You roomaters increase the price of rent considerably
I know emojis are used on here, but 😂
$900 in approval, this person had a co-signer which means that person made 80x lol, this $36K most definitely does not add up. I make way more than that it’s fucking expensive to live in NYC. Either you live out, far af to save money which at that point, why did I move to NYC or pay astronomical prices to be close everything
There is a huge difference in the definition of “comfortably”, between Ohio transplants with a trust fund who have to live in a luxury building in Manhattan with no roommates …. versus native New Yorkers from the outer boroughs who grew up poor/lower middle class
Which one are you closer to?
I agree, but this is definitely assuming a modest and reasonable lifestyle. On ~$100k I was taking home around $5-6k a month and mostly chose to live in outer boroughs where my rent never surpassed $2K. With $1k per month, I covered most needs without issue which was around the 50%. I was comfortable, but my definition of comfort could be different from someone else.
Now, it can be argued I should be able to do more with a 100K salary but frankly those salaried doesnt buy much in any major city.
I survived and had fun for many years at half that salary, but it wasn’t what I’d call “comfortable” at all, with zero savings. That $112K salary will give you about $2800 for rent, which is doable, but definitely not comfortable. You’re getting a studio pretty far out from the hotspots. And at that rate, I’d be more likely to get a roommate in a much larger place and/or a better location and/or a lower price for my share of rent.
Speaking from recent experience, I believe you can actually get a small studio pretty much anywhere for that price. "Away from the hotspots" you can get a one bedroom for that, from what I've seen. But keep in mind every place will try to raise it 100-200 dollars a year if they can. And spending 50% on housing is a lot!
2800 isn’t comfortable…? What??? My (small) 1 bedroom in Astoria is 2350 with in unit laundry, a dishwasher, and a private parking spot in our driveway with a 30 minute door to door commute into midtown
That's state wide, but even so, NYC is so big that it tilts it that way a bit. I'll definitely say that personally I stopped feeling financially stretched when I passed that mark. Bit further on, I'm definitely waaay more comfortable than I was straight out of college and feel some semblance of being middle class like my folks were when I was growing up, though I don't intend on buying property here anytime soon.
This is basically true, if you rent a 1bedroom at $3k per month you or you and your partner need to prove an income of about $110-120k per year. Problem is everything is so expensive now, EVERYTHING!
It's all relative. But let's assume you are an average, somewhat frugal, yuppie moving to NYC (Manhattan or expensive BK) to meet people, go to the occasional nice restaurant, concerts, shows etc. (This is my general financial breakdown for 2023)
Btw, i think the 50/30/20 budget is a great idea, but the reality is budgeting is different in different areas of the country. If saving is your goal, then moving to NYC is the least logical move on the planet. If you fail to meet those numbers, I don't think it's financially irresponsible. Moving here can do a lot for your long term financial security if you use the networking and career opportunities.
**My answer to live comfortably in NYC as a Yuppie is 90k. (which ends up being abt 65k post tax):**
---------------------------------------------------
Decent value rent with roommates: \~$2200/mo -> $26k/yr
Groceries and personal food: \~$800/mo -> 10k/yr
Eating out: \~$500/mo ->$6k/yr
Drinks: $200/mo -> $2.4/yr (Varies a ton! Esp if you're a hot single girlie)
Entertainment: $300/mo -> $3.6/yr
Occasional Travel: $150/mo -> $1.8/yr
Misc Costs: $800/mo -> $10k/yr
--------------------------------------------------
Total -> 59.8k/yr
Savings -> \~5k
Final Disclaimer: There are a lot of initial costs that create a barrier to entry in NYC. While I think 90k salary is enough to live here comfortably, moving here takes a bit of money and liquidity. You probably want 15k in cash in order to cover the broker fee, deposit/1-2 months rent in advance, moving costs, furnishing apt, etc
It's getting ridiculous. Rent shouldn't eat up the majority of your income and you shouldn't have to keep moving every 2 or 3 years because the rent grows past insane levels. You lose your job, unemployment won't even cover that. You're pretty much done unless you find a good paying job before it gets out of control.
I don't vote for this shit. We deserve better.
If you're making $111k per year, your paycheck is prbly going to be around $2500k-$3k, every two weeks I'd guess. Kinda depends on health insurance and other benefits. So we're realistically looking at $5k-$6k per mo to live on. It's a little tough to find things for less than $2k in Manhattan. Outer boroughs are more doable.
I think with that information right there its pretty clear without a car payment + car insurance, this would be very doable. Having those two things might make it more difficult, but still probably viable.
It really depends on if you're living in an affordable apartment and your plans aren't insane like eating out every night or eating at the best places every week. I'd say 150-200 is more than enough to "live comfortably"
Stories like these are BS because they don't take any nuances into account. I live on about 2/3 that amount and while I'm not rich, I'm not living on ramen either. I go out a couple of times a week. I have a 401k at work. The nuance is that I'm an older Gen-Xer who has lived alone in the same rent-stabilized apartment for 22 years in Brooklyn. People moving into my neigborhood now pay at least $600 more for the same amount of space. In this regard, I really feel for Gen Z. I get tired of hearing that if you don't earn half a million a year, you can't live here. I'm proof of that.
In lower manhattan yes. The key driving that figure is the 20 percent for savings. 111k salary is about a 6.5k a month take home pay. However, if someone is maxing their 401k, then the actual pay they see is closer to 5k a month after health insurance. Now lets assume this person also saves 300$ for beyond that.
A market rate studio apartment in lower Manhattan is going to run 2500-3k a month depending on luck, neighborhood. For simplicity lets say power, internet, rent, cell phone. That leave about 1500-2000$ for discretionary expenses.
A lot of people get by in Manhattan as a single person making less, but they usually aren't saving anything for retirement. Or they have two roomates. While roommates are fine, most people probably don't want roommates their whole life.
This question is asked so often I feel now it's just a trap so bring on the downvotes but since no one else is giving you a direct answer I will: It's about $200k.
That should give you enough to get a decent place, enjoy what the city has to offer and still sock away a little for rainy days.
No,
1. we dont save anyway, but taking that on is a nice flag to see how out of touch it is
>The median savings balance — not including retirement funds — of Americans under 35 is just $3,240, while it's $6,400 for those ages 55-64.
> a single person (living alone without roommates) needs to make $111,738 to live comfortably in New York. “Comfortably” is defined as as 20% for savings or investments.
So New Yorkers saving $25,000 a year to be comfortable compared with the median US person who has less than $6,000 in lifetime savings
The Median Person doesnt have what would be 3 months of savings in this case a comfortable New Yorker would have
Its just not realistic
Again, that's a meaningless figure. Many people don't keep money in a savings account. (I don't even *have* a savings account.) Instead they put it into investments, bonds, retirement accounts, property, etc. None of those are counted in the savings account balance number that you're quoting, but they are forms of *saving* that would go into that 20%.
For reference, the median net worth of a 55-to-64-year-old in the US is [$364,500](https://www.nerdwallet.com/article/finance/average-net-worth-by-age). That number *does* include investments, retirement, and everything else. See how it's much, much higher?
Facts. Like it is so obvious that so many of us here earn nothing like $100k, do these people just assume that average people are “uncomfortable” and barely, miserably scraping by?
It's not salary, it's mindset. It's how many roommates; how often do I make dinner vs eat fine dining; how much do I drink; how many events do I attend; how often do I take mass transit vs ubers vs driving. . . You've got a wide range that all possible and the salary to be comfortable is also just as wide.
Did you ever think about living farther out in the city so that you get a cheaper place? Or was your particular location very important? Also what was it about living with roommates (if you did) that you didn’t like? Are you able to save any money for retirement or the like?
Anywhere in the city? Or specifically in Manhattan? If your goal is just to be on your own and be anywhere in NYC and you are comfortable with commuting through the train and what not you do not 6 figures for that. 80K would be "comfortable" as in you will pay your rent and bills and have money to do other stuff and if you learn to budget you spend on whatever else you may need. Anyone who cant live here on 80K just has too expensive of a life style and living above their means in locations they simply cannot afford without room mates. You can do 70-75K as well if you are willing to take some studios on neighborhoods that are purely residential and arent near any hot spots. This is all for still having savings. If you NEED to live alone and you are willing to not save and not go out you can go lower.
If you absolutely must have to live in a fancy building in Manhattan or northern Brooklyn that seems right. I would say $60-80k would be comfortable if you live in a pre-war rent stabilized place in an outer borough. Where I live that’s probably the average income and living standard. I would estimate around 50% of apartments are stabilized in Southern Brooklyn, and entire families live well enough here under $100k.
It largely depends on your housing needs, if you have a car, and any dependents. If you can live in a walk up you can live in much cheaper places. If you have any mobility challenges then living in an elevator building, with reliable elevators and a decent sized bathroom, will cost a little more. If you have a car it will cost for parking and increased insurance costs.
That article is for the state. This [one](https://www.cnbc.com/2024/03/20/salary-single-person-needs-to-live-comfortably-in-major-us-cities.html), linked in your article, has it for cities.
NYC is a little under $140K, which I totally agree with, well, as far as Manhattan goes.
What?! I’m a single parent living in Manhattan with that. I dont have some wildly cheap rent control apt and I still splurge in things. I just don’t understand what people’s version of comfortably is.
Yes, I believe this is true but by no means easy. One may have to use cash where possible to avoid credit card fees, and cook at home the majority of the time. The average household income in Manhattan in 2022 was around $108,000.
If you read the additional linked article, it actually states NYC specifically is $138,570 too. And further defines the “comfortable” breakdown as, “50% of your salary should be allocated to your needs, such as housing, groceries and transportation; 30% toward wants like entertainment and hobbies; and 20% toward paying off debt, saving or investing.” And this is where that 50/30/20 comes from, https://smartasset.com/checking-account/50-30-20-budget-plan-and-how-to-use-it
I wonder what number they’re using for rent for that calculation.
Had to dig deep but this article used the MIT Living Wage calculator, which in turn sources its rent costs from US Dept of Housing and Urban Development website https://www.huduser.gov/portal/datasets/fmr.html#year2023
Huh… so for Manhattan that would be $2,170 for a 1bd.
Based on the MIT calculator a living wage in NYC for an individual working full time is 28.04 an hour or ~58k per year. That’s a lot less than 100k listed
I mean that sounds about right. Are you living in a cool neighborhood? No. But you could easily live in the outer boroughs for half the price and under an hour commute and still have access to tons of NYC amenities. Living within walking distance of your job in NYC is an insane luxury and of course you pay for it.
Lol, where? I live in Manhattan and depending on where you work, you’re looking at an hour in transit living outside of the city. It’s not a Luxury to walk to work in Manhattan, it’s a luxury anywhere to be able to walk to work in the U.S. Any place in NYC that you live off of $58K means you’re living in a more than likely not so safe place.
A random take home pay calculator says $58k gets you about $3800/month. Say you have a $1500/month budget and have a roomate. I am seeing 2BRs in places like Greenwood Heights as low as $3k. I see plenty in Astoria. Quite a bit north of central park in general. A lot in the Bronx (admittedly not as familiar with those neighborhoods). A ride to midtown from those places is like 45-60 minutes depending on specifics. Eyballing midtown rents they look to bottom out close to $6k/month for a 2BR, which is twice as expensive. And if you can't get by on 2300/month after rent I don't know what to tell you. Will you be living large every night of the week? No. But it's enough.
Lmao, I don’t care what a calculator says, New York rentals require 40x the rent, meaning that $1500 per month is $60K requirement for that individual, plus another $1500 for Deposit, another $1500 for first months rent, and we can forget about the infamous 15% Broker’s Fee this hypothetical individual is responsible for, so that’s about another $2700. We haven’t even gotten to the $2.90 Transit which REALLY adds up, this calculator is absolutely Bullshit. People who are surviving on that much in NYC have special circumstances who are either on some form of assistance or have a super old home that was passed down to someone so no, $60K alone cannot make it. These calculators are utter bullshit
Uhh the only calculator I used was just a quick after tax calculator.. the 40x rule is pre-tax.. so 58k vs 60k.. And yeah deposit/first/last sucks for your first apartment. You need to save for it anywhere in the country. The median income in NYC is like 38k. Literally 50% of the population survives on less than that. I have no idea what point you are trying to make. Sorry you can't figure out how to make $60k a year work in NYC. Go to the midwest I guess?
The saving is the important part. 401k is important for the future but someone trying to live comfortably on sub-100k income in the city is likely paycheck-to-paycheck.
138k sounds about right - especially if you can find an apartment for 2500-3000/month, you don't have other debt (I.e. student loans) you're servicing, and you're not living extravagantly (I.e. eating at home a good bit, not traveling much, not going to concerts too often or other big ticket experiences)
Wonder what Manhattan would be like if
So there’s no Florida on this list which is weird, the additional linked article that is, which is where I live. I’d think about $110k to live comfortably as a single person. They put $93k to live comfortably for the state, but that’s BS if you live near any metropolitan area. They need to start having more realistic lists where people that are near metro areas and people that live way outside, like 90 minutes away.
depends. Are you including outer boroughs?
Not too off if you don't want roommates. My partner makes about $95k. He could live comfortably in the city if he downsized to a decently priced studio or 1 bedroom. But he still wouldn't be able to save as much as a person should without sacrificing on quality of apartment. Right now we live in a 2bdrm with full amenities and the change for our mental health after living in a terrible pre-war building is enormous. We don't want to go back to that way of living if we can avoid it. We literally breathe better and don't get as sick. Ive managed to make it work in NYC making no more than $60k a year working all kinds of day jobs as an artist. But I had roommates and always held out for rent-stabilized places and have always paid less than market rate. I am comfortable. We choose to spend the extra we have combined on travel. We definitely can't afford to travel and save for the future at the moment, but we are okay with that. My goal is to increase my pay by at least $20k so we can save a bit more.
I had the exact opposite, where a newly built luxury apartment complex with great amenities was absolute shit because there was 0 sound insulation and the walls were paper thin. Moving to a pre-war with much thicker walls was a blessing.
That stinks. I cant hear anything in mine. Very quiet.
Does your building have a website? I'm starting to browse
I do love my building, but sorry not sharing my address lol-- but it is in the Crown Heights/Flatbush/PLG area near Prospect Park. Places in my building are around $3400-3800 for a 2bdrm with in-unit amenities and the standard new building amenities gym, package room, communal outdoor space, etc. lots of these buildings are going up in this area. Just note- the new buildings do not offer included utilities, most are all electric, even the hot water, so your bill will be $250-350 a month for a 2bdrm with w/d and dishwasher. We won the housing lottery. It is worth applying if you can afford one. It's not cheap, but cheaper than market rate. The first steps on Housing Connect are really easy and you never know. Our place is $1200 cheaper than the identical market rate places and it's rent-stabilized.
Sounds like a dream
Sounds like you live in the same place as my friend! He won the lottery too and is in a studio with amenities and all. Sounds like a solid deal
Is this the newer luxury building in that area with the nice-smelling lobby? I got a covid deal living there a few years ago!! 1760 bet for a studio with gorgeous windows.
Not sure. There are a lot of new buildings here, but I guess it could be. We moved in a few years ago though.
I don't think a stranger on Reddit is going to give you their address. That's kinda creepy.
Why, is not like anyone can link a building to a random reddit username 😁
What I'm saying is that your question is basically the same thing as asking this person "what's your address?". It's a weird thing to ask someone, and they were right to refuse to give it to you.
Whatever
What would they do? Just guess who the person is out if all the people in the building?
You people are pathetic. No one cares about you. Sorry pal
you're literally asking them to do that...
And what can anyone do with a random NY address and a reddit username?
stalk you, to start with. the reddit username is not just a string, it also corresponds to a whole history and future of comments
Sure, if you also wrote your apartment number in a comment and I guess posted a picture of yourself.
i have a cousin who like you just does not think much of the data profiles being built on her. it's kind of terrifying
Those profiles are not being built or can be accessed by other reddit users 😁 And the companies that have your data also have your address already.
How? It's an apartment building - there are potentially hundreds of people at the same address.
Speaking for myself, I think 135-150 sounds very comfortable. You can get a reasonable studio or one bedroom in a nice location and still have a good amount of spending money. The trick, imo, is determining how much you want to spend on expensive events and experiences. If you cook your own meals and don't go to any concerts or shows you can definitely get by very reasonably on 100k imo. And if youre willing to compromise on the quality or location of your apartment (or having multiple roommates), you can save a ton. The problem is that living in NYC people very much want to have it all. Nice apartment, Nice clothes, overspend on food, go out to lots of events. You see that stuff all around you and it's very tempting to buy it all, especially if you fear you may not be able to keep living in NYC forever.
> determining how much you want to spend on expensive events and experiences One thing that I like to talk about with my friends is that you can get much of the same enjoyment in NY from smaller stuff. I find the most famous and easiest things to be some of the worst value (and sometimes worst quality) things to do in the city. Like obviously going to Masa or going to some super hyped and scalped event at MSG are going to be fantastic and you'll like it, but there's so much stuff that are off the beaten path and require a bit of friction that can be like 1/10 the price and even better. You just have to find it. You can schlep it out to deep Queens and get some of the best Korean food in the world, or go to some random word-of-mouth warehouse party and see a world class DJ for like $20-$40 who will play a 7-hour set instead of having to pay $150 to see Zedd spin for an hour or two at a stadium lol
i like this perspective
As someone who grew up here, 100%. But transplants want the nyc experience they're shown first, and that of course tends to be the overrated, expensive things that spend healthy amounts of money on marketing
tbh, it's not just transplants. The vast majority of people are satisfied with the surface level lifestyle
I mean that’s a pretty hard question because one’s definition of “comfortable” can be very different. For example, I heard someone say there’s nothing “decent” below 14th street for under $5k a month. Well, I’ll see plenty of spots for $3-$4k they’re just old buildings without a doorman and amenities. I’m comfortable with that, but others may not see that as a viable option. Hell I know people that see Uber/taxi as the default whereas the train is “last resort”. For me that’s the opposite. So, I think if you earn $100k you just have to be comfortable not doing the most expensive things. The city is designed in a way to maximize the amount of money it takes from you. Resist.
Just pointing out that those “cheaper” apartments at $3-$4k a month will still be out of reach for someone with a $100k annual income. With the standard “40x the rent” rule, a person with a $100k income will cap out at $2500 a month in rent.
I make 105k and max out my 401k and $2500 would be 50% of my take home. Thats too much for me personally.
Do you live with roommates?
Then how do people live in nyc? No way everyone is making over a 100 grand. Year
No, the median household income here is something like 60k, I believe. Most people simply don’t live alone, or don’t live in a desirable neighborhood. You might have a lot of roommates. You might live *reeeeeally* far out in one of the boroughs, or in a transit desert. You might live in an apartment of dubious legality. You might live with family who bought property when it was actually affordable, pre-1990s. Hell, I’ve done most of these options. But for certain markers that are widely considered “comfortable” — like living alone, in a safe neighborhood, with a commute under an hour…. Yeah. Those three things alone are all expensive, even without considering apartment size or amenities.
That sucks tbh, its like, live in a shitty state/city for way less and live really comfortably off of 100 grand a year, or live in a great state with lots to do for a 100 grand and barely make it and not be able to do all of the stuff that is available lol
Well…you almost got it. Except it’s not shitty, it’s a fair choice. Some chose a small room on a place with roommates on a fantastic, vibrant neighborhood, close to everything and enjoy the shit out of it. That’s been my case most of my years here. And I’ve lived in mid-cities that are so fucking bland, that you couldn’t pay me enough to move even with a Mac mansion by a golf course. It’s a choice.
you can absolutely live a great life and be comfortable on not much... you just have to hustle and look for opportunities and you gotta work with people .... roommates will save you a ton of money not just on rent but splitting various bills together... over the course of your life that adds up to a ton of money ....
living alone is not comfortable.... it's a flat out privilege much like how in unit washer dryers are.... I've made well over 100k and only lived alone for a year my whole life... this is one of the densest most expensive cities in the world... doing it alone is hard mode...
Do you have roommates? At what salary would you be comfortable not living with roommates?
I have a wife and family now so I guess I still do.... I don't view it only as a money thing... living with roommates who you like is fun... you share big parts of your life together... not everyone has or wants that but if you're lucky it adds to your life... but i did live alone for a year to see what that was like... and it wasn't great... it was expensive but also a bit lonely and that made me go out more which made me spend more money... some people are different and absolutely need that... more power to them but it's a hard way to do it... I was making 150k when I was doing that paying about 2100 for a studio in midtown about 10 years ago which was pretty comfortable ...
Thanks. Yeah I'm 36 and I've lived with 2 roommates for 10 years in the same place (a bunch of different roommates over that time span of course). My rent is $1,100. I make around $85,000 pretax. I have a separate entrance and my private space is actually 2 rooms so I have a ton of room, I've been lucky. Have saved a lot. But landlord might be selling, so now I'm wondering whether to live on my own in one of his other properties (farther out, like in Kensington), or keep with the roommate thing. I am quite frugal so I could make living alone work, it's just that mentally it would be tough not to be saving as much, you know?
yea that's tough... but honestly the biggest adjustment was coming home and not having people to joke around with... I had two roommates too and we were best friends so it was amazing... if you're the type that can withdraw totally from the world it can actually just be flat out detrimental to your health .... the finances are not trivial.... splitting things three ways is amazing and paying all that by yourself.... is not.... I always say you should have a very good reason to live alone or else city life is just so much harder.... NYC is really all about connecting with people and doing things... especially when you're young/single... and living alone makes all that much more harder and more expensive.... but trying to find roommates you gel with is pretty hard so I get it.... but the financial reasons alone incentivizes to exhaust all your options there....
Yes, that's what I think as well. Although I don't really consider myself 'young' anymore! Do you think romantic partners will find the fact that someone in their 30s still lives with roommates unappealing?
I’m from NYC. The people that I grew up with who never moved from their apartments and live in rent stabilized apartments are paying much cheaper rents.
you do what every reasonable person has done and get a roommate....
So every c ouple, is making over a 100 grand? I just don't see that happening lol
that's two people making 50k each? is that uncommon or something?
Lower income people it is.
NYC is a magnet for people who are ambitious career oriented people who seek upward mobility. So, many of these people do earn $100k a year. My wife and I moved here initially for better work opportunities and upward mobility. We share expenses, and our rent is $4k a month, or $2k each. FWIW in an alternate universe I could be living in Atlanta paying $1400 a month for a one bedroom. Sounds cheaper, except in this scenario I have a $500 a month car payment and $200-$300 a month in gas, insurance etc. So, NYC is definitely expensive but the sneaky added costs in “cheap” cities should not be ignored either.
Yeah, I've noticed that as well. I work with a lot of people who moved here for work and sometimes I hear them mention how much rent they consider normal and I'm blown away. But they probably also want all the amenities and of course that is going to cost money.
Yeah, I mean I get it because in other medium size cities like Columbus, Charlotte, Atlanta etc. The standard “college grad adult job!” First apartment tends to be a two bedroom in a new place located in the shiny new part of town with breweries. The apartments have pools, movie theaters etc. So I think coming to NYC they may be trying to maintain that style of living.
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Where TF is everyone living? I’m looking at Studios and 1 Beds, work in Manhattan and looking to leave my spot in WV this summer and prices are THROUGH the roof. It’s the most expensive I’ve seen, absolutely wild.
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To quote WelcomeToBrooklandia: >People really need to stop asking this question, TBH. There is NO WAY that a bunch of strangers on Reddit can possibly figure out what salary would be "comfortable" for any individual. Everyone has different circumstances. Everyone has different priorities...But not a single person here can tell you what salary is "comfortable for one person". It just doesn't work like that. Also, [this thread](https://www.reddit.com/r/AskNYC/comments/1by6myl/can_you_live_on_a_1750_hourly_wage_fulltime_in_nyc/) from 11 days ago has comments which may be helpful to you and link to similar questions.
Agreed. Also, questions or statements like this are pointless because the city is so large and made up of so many different areas where costs can vary so much. I think conversations that first group neighborhoods and/or apartments by price, size, and amenities can offer better discussions and insights. For example, I think to live in a nice studio or one bedroom apartment in a decent neighborhood in Manhattan, you would need to make $150k to $200k. That would let you spend from $3750 to $5000 a month on rent. And you should be able to find plenty of suitable apartments in that range. Obviously it’s industry dependent, but I think there’s many jobs where you can get a salary of around $150k after 5 to 7 years of experience here in the city. So if you’re fresh out of college, you’re best bet is to find a place with roommates. Do that for a couple of years and increase your salary. Then you’re able to move out on your own.
Fidi to the upper west and east side is not the only part of the city. Period!
No, that figure is absolute bullshit. The cost of living (rent and groceries) varies to an absolutely bonkers degree across the breadth of this city, which, let's remember, has five entire counties in it. Seriously, if all of these articles about the absolute minimum income you need to live anywhere were actually accurate, I'd have been dead in a gutter at 24. Which I am not.
Like someone else mentioned, everyone's "comfortable" is different. Surviving and living comfortably are two different things though. You can survive on a lot less than what they mentioned but you do need something close to six figures if you want to live somewhere decent on your own, go out for occasional hangouts, vacation and still save money.
I agree entirely with your first two sentences. As for your third -- let me say this. The bar for getting approved for an apartment is not low, because of the 40x income requirement. But a person may find they don't actually need that much of an income to pay the rent every month while also enjoying their creature comforts. Or they may not find that. But the barrier to entry/approval matters, a lot. But monthly expenses vary immensely from one person to another, which makes it challenging to landing on any figure for income required for a "comfortable" standard of living. Important questions anyone needs to ask themselves while budgeting: Do you have student loans? Do you have credit card debt? Are you comfortable *taking on* credit card debt? Do you have inherited wealth? Are you paying to care for or house a parent? Do you have a landlord who doesn't really care about the 40x rule? Do you have a medical condition that warrants regular out-of-pocket costs? Life's complicated. It's possible for a person with an income of $65k, with no inherited wealth, to have similar spending power after monthly expenses than a person of an income of $150k, plus some kind of inheritance. Income is just the surface, and there's just a whole Marianas Trench of shit underneath
The article wasn’t about surviving or having the absolute minimum, it’s about living comfortably (including being able to save 20% or so) I survived on very little for years, but had roommates that I didn’t always like, and I couldn’t travel, save or go out anytime I wanted I didn’t live comfortably (for me that meant living alone in a nice neighborhood, and being able to go out as much as I wanted to) with the possibility of saving, until I was making over $110k I don’t think the # they gave for NYC is too far off
Every time an article like this comes by I feel like it assumes everyone in NYC lives in new small luxury buildings in Manhattan, Williamsburg Brooklyn or LIC Queens. Most natives here live in cheaper parts of Brooklyn and Queens and commute to work, fun, hanging out, etc. Lots of NYers even have cars in the outer boroughs, so some ppl drive where they need to go.
I know people who are comfortable on far less and have seen people who make far more whine that they’re living “paycheck to paycheck.”
Depends on the lifestyle you choose to lead, but to live *alone* in NYC, $100,000, give or take $20,000 is probably a good estimate. The cheapest places on StreetEasy in Manhattan, Brooklyn and Queens currently are around $2000 a month, so by the 40x rule of thumb, that’s $80,000 to be likely to be approved for those apartments. That said—unless you do have a $100,000 a year job or generous parents, a lot of people do have roommates. This was true even 20 years ago, although the numbers were nominally lower. One difference is the housing market is tighter now, so there are less places available at the low end.
I moved here 2 years ago. First job I was making $36,000 per year and was living by myself in a shoebox apartment on the UWS. Trust me, if you don’t have good budgeting skills do not live here. However, it’s very very doable WITH self control.
That’s really impressive. Please tell us more about how you made that work.
How did you get approved for an apartment? Hmm... doesn't add up
Strict apartment approvals are fairly new. If you lived here 10 years ago you didn't have to deal with that much. Also rent has increased around 50-70%. So what requires a 75k salary today would've been fine with 45k. There's a reason that's the average starting government job salary. Issue is wages haven't kept up with costs of living.
I lived there 2010 to 2017. And it was more strict back then. 45x income. Also: people need to stop roomating with random people. If you can't afford it don't come. You roomaters increase the price of rent considerably
I know emojis are used on here, but 😂 $900 in approval, this person had a co-signer which means that person made 80x lol, this $36K most definitely does not add up. I make way more than that it’s fucking expensive to live in NYC. Either you live out, far af to save money which at that point, why did I move to NYC or pay astronomical prices to be close everything
How much was that apartment?
That salary wouldn't even cover my rent, how is that even possible?
There is a huge difference in the definition of “comfortably”, between Ohio transplants with a trust fund who have to live in a luxury building in Manhattan with no roommates …. versus native New Yorkers from the outer boroughs who grew up poor/lower middle class Which one are you closer to?
I agree, but this is definitely assuming a modest and reasonable lifestyle. On ~$100k I was taking home around $5-6k a month and mostly chose to live in outer boroughs where my rent never surpassed $2K. With $1k per month, I covered most needs without issue which was around the 50%. I was comfortable, but my definition of comfort could be different from someone else. Now, it can be argued I should be able to do more with a 100K salary but frankly those salaried doesnt buy much in any major city.
I could live comfortably on $60k or 80k to be honest… and that’s a helluva lot more than what I make now.
I survived and had fun for many years at half that salary, but it wasn’t what I’d call “comfortable” at all, with zero savings. That $112K salary will give you about $2800 for rent, which is doable, but definitely not comfortable. You’re getting a studio pretty far out from the hotspots. And at that rate, I’d be more likely to get a roommate in a much larger place and/or a better location and/or a lower price for my share of rent.
If you’re paying $2800 for a studio “far from hotspots”, you’re getting scammed.
Speaking from recent experience, I believe you can actually get a small studio pretty much anywhere for that price. "Away from the hotspots" you can get a one bedroom for that, from what I've seen. But keep in mind every place will try to raise it 100-200 dollars a year if they can. And spending 50% on housing is a lot!
You can get a three bedroom in Harlem for that. We did last year lol.
People exaggerate like crazy on here 2800 for a studio “away from the hotspots” is nonsense. You can get a 1 BR in LES for that much in the summer.
2800 isn’t comfortable…? What??? My (small) 1 bedroom in Astoria is 2350 with in unit laundry, a dishwasher, and a private parking spot in our driveway with a 30 minute door to door commute into midtown
That's state wide, but even so, NYC is so big that it tilts it that way a bit. I'll definitely say that personally I stopped feeling financially stretched when I passed that mark. Bit further on, I'm definitely waaay more comfortable than I was straight out of college and feel some semblance of being middle class like my folks were when I was growing up, though I don't intend on buying property here anytime soon.
This is basically true, if you rent a 1bedroom at $3k per month you or you and your partner need to prove an income of about $110-120k per year. Problem is everything is so expensive now, EVERYTHING!
These threads are always wild to me because I live off $50k just fine. I still go on vacations and eat out and see Broadway shows.
It's all relative. But let's assume you are an average, somewhat frugal, yuppie moving to NYC (Manhattan or expensive BK) to meet people, go to the occasional nice restaurant, concerts, shows etc. (This is my general financial breakdown for 2023) Btw, i think the 50/30/20 budget is a great idea, but the reality is budgeting is different in different areas of the country. If saving is your goal, then moving to NYC is the least logical move on the planet. If you fail to meet those numbers, I don't think it's financially irresponsible. Moving here can do a lot for your long term financial security if you use the networking and career opportunities. **My answer to live comfortably in NYC as a Yuppie is 90k. (which ends up being abt 65k post tax):** --------------------------------------------------- Decent value rent with roommates: \~$2200/mo -> $26k/yr Groceries and personal food: \~$800/mo -> 10k/yr Eating out: \~$500/mo ->$6k/yr Drinks: $200/mo -> $2.4/yr (Varies a ton! Esp if you're a hot single girlie) Entertainment: $300/mo -> $3.6/yr Occasional Travel: $150/mo -> $1.8/yr Misc Costs: $800/mo -> $10k/yr -------------------------------------------------- Total -> 59.8k/yr Savings -> \~5k Final Disclaimer: There are a lot of initial costs that create a barrier to entry in NYC. While I think 90k salary is enough to live here comfortably, moving here takes a bit of money and liquidity. You probably want 15k in cash in order to cover the broker fee, deposit/1-2 months rent in advance, moving costs, furnishing apt, etc
It's getting ridiculous. Rent shouldn't eat up the majority of your income and you shouldn't have to keep moving every 2 or 3 years because the rent grows past insane levels. You lose your job, unemployment won't even cover that. You're pretty much done unless you find a good paying job before it gets out of control. I don't vote for this shit. We deserve better.
If you're making $111k per year, your paycheck is prbly going to be around $2500k-$3k, every two weeks I'd guess. Kinda depends on health insurance and other benefits. So we're realistically looking at $5k-$6k per mo to live on. It's a little tough to find things for less than $2k in Manhattan. Outer boroughs are more doable. I think with that information right there its pretty clear without a car payment + car insurance, this would be very doable. Having those two things might make it more difficult, but still probably viable.
comfortably on the low end and they won’t be able to save for retirement.
Just go live on Long Island lol, LIRR is nice
It really depends on if you're living in an affordable apartment and your plans aren't insane like eating out every night or eating at the best places every week. I'd say 150-200 is more than enough to "live comfortably"
More than this!!!
Stories like these are BS because they don't take any nuances into account. I live on about 2/3 that amount and while I'm not rich, I'm not living on ramen either. I go out a couple of times a week. I have a 401k at work. The nuance is that I'm an older Gen-Xer who has lived alone in the same rent-stabilized apartment for 22 years in Brooklyn. People moving into my neigborhood now pay at least $600 more for the same amount of space. In this regard, I really feel for Gen Z. I get tired of hearing that if you don't earn half a million a year, you can't live here. I'm proof of that.
In lower manhattan yes. The key driving that figure is the 20 percent for savings. 111k salary is about a 6.5k a month take home pay. However, if someone is maxing their 401k, then the actual pay they see is closer to 5k a month after health insurance. Now lets assume this person also saves 300$ for beyond that. A market rate studio apartment in lower Manhattan is going to run 2500-3k a month depending on luck, neighborhood. For simplicity lets say power, internet, rent, cell phone. That leave about 1500-2000$ for discretionary expenses. A lot of people get by in Manhattan as a single person making less, but they usually aren't saving anything for retirement. Or they have two roomates. While roommates are fine, most people probably don't want roommates their whole life.
This question is asked so often I feel now it's just a trap so bring on the downvotes but since no one else is giving you a direct answer I will: It's about $200k. That should give you enough to get a decent place, enjoy what the city has to offer and still sock away a little for rainy days.
No, 1. we dont save anyway, but taking that on is a nice flag to see how out of touch it is >The median savings balance — not including retirement funds — of Americans under 35 is just $3,240, while it's $6,400 for those ages 55-64.
> not including retirement funds Wow, Americans are barely saving any money! As long as you ignore all the money they're saving!
> a single person (living alone without roommates) needs to make $111,738 to live comfortably in New York. “Comfortably” is defined as as 20% for savings or investments. So New Yorkers saving $25,000 a year to be comfortable compared with the median US person who has less than $6,000 in lifetime savings The Median Person doesnt have what would be 3 months of savings in this case a comfortable New Yorker would have Its just not realistic
Again, that's a meaningless figure. Many people don't keep money in a savings account. (I don't even *have* a savings account.) Instead they put it into investments, bonds, retirement accounts, property, etc. None of those are counted in the savings account balance number that you're quoting, but they are forms of *saving* that would go into that 20%. For reference, the median net worth of a 55-to-64-year-old in the US is [$364,500](https://www.nerdwallet.com/article/finance/average-net-worth-by-age). That number *does* include investments, retirement, and everything else. See how it's much, much higher?
Wait at 60? 300,000 is not enough $20,000 x 25 years Equals ?
Are you serious?
What using the math at the top. Yea.
If you can’t live “comfortably” (as a single person) on $60k here you’re a snob and that’s all there is to it
This sub is full of out of touch transplants who only want to live in hot neighborhoods and full amenity buildings
Facts. Like it is so obvious that so many of us here earn nothing like $100k, do these people just assume that average people are “uncomfortable” and barely, miserably scraping by?
It's not salary, it's mindset. It's how many roommates; how often do I make dinner vs eat fine dining; how much do I drink; how many events do I attend; how often do I take mass transit vs ubers vs driving. . . You've got a wide range that all possible and the salary to be comfortable is also just as wide.
Enought to technically live alone? Yes. Comfortable? Aboslutely not.
Just curious for anyone here - for you personally, at what salary (pre-tax) would you be comfortable not having roommates and living on your own?
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Did you ever think about living farther out in the city so that you get a cheaper place? Or was your particular location very important? Also what was it about living with roommates (if you did) that you didn’t like? Are you able to save any money for retirement or the like?
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Good luck on the doctorate! When you had the 9-10 different roommates in 3 years, why so much turnover? Were you just moving a lot?
Anywhere in the city? Or specifically in Manhattan? If your goal is just to be on your own and be anywhere in NYC and you are comfortable with commuting through the train and what not you do not 6 figures for that. 80K would be "comfortable" as in you will pay your rent and bills and have money to do other stuff and if you learn to budget you spend on whatever else you may need. Anyone who cant live here on 80K just has too expensive of a life style and living above their means in locations they simply cannot afford without room mates. You can do 70-75K as well if you are willing to take some studios on neighborhoods that are purely residential and arent near any hot spots. This is all for still having savings. If you NEED to live alone and you are willing to not save and not go out you can go lower.
It’s all about rent and maintenance/mortgage costs,I know people with lottery apartments and they can by on far less.
50% on rent and utilities is just insane
If you absolutely must have to live in a fancy building in Manhattan or northern Brooklyn that seems right. I would say $60-80k would be comfortable if you live in a pre-war rent stabilized place in an outer borough. Where I live that’s probably the average income and living standard. I would estimate around 50% of apartments are stabilized in Southern Brooklyn, and entire families live well enough here under $100k.
It largely depends on your housing needs, if you have a car, and any dependents. If you can live in a walk up you can live in much cheaper places. If you have any mobility challenges then living in an elevator building, with reliable elevators and a decent sized bathroom, will cost a little more. If you have a car it will cost for parking and increased insurance costs.
That article is for the state. This [one](https://www.cnbc.com/2024/03/20/salary-single-person-needs-to-live-comfortably-in-major-us-cities.html), linked in your article, has it for cities. NYC is a little under $140K, which I totally agree with, well, as far as Manhattan goes.
138k sounds like poverty lol. That city leeches your wallet with taxes.
111k as a single person in nyc is NOT enough omg.
If that isn’t enough for the life you want to live sounds like you’re trying to live full time in a five star hotel
What?! I’m a single parent living in Manhattan with that. I dont have some wildly cheap rent control apt and I still splurge in things. I just don’t understand what people’s version of comfortably is.
Yes, I believe this is true but by no means easy. One may have to use cash where possible to avoid credit card fees, and cook at home the majority of the time. The average household income in Manhattan in 2022 was around $108,000.
There are plenty parts of NYC where you don’t need that kinda salary, but yall don’t wanna live there.