LIVING IN NEW YORK CITY on a REALISTIC BUDGET

LIVING IN NEW YORK CITY on a REALISTIC BUDGET


One in every 25 New Yorkers walking down
these streets is a millionaire. Now, those are some pretty decent odds. It’s
realistic to say that you might run into a millionaire while walking down the
streets in New York City. But on the other hand 1 in every 5 New Yorkers
walking down these same streets live below the national poverty line. New York
is a city of extremes and living here it’s not for everyone
but if you’re interested in seeing what it’s like to rent an apartment on a
realistic budget then this video is for you! Now I’ve shown you some of the most
expensive places to rent and buy in this city but today we’re going to be
exploring some different options. The most affordable neighborhoods in the
city, living situations and more so you can learn about what it takes to live in
New York City! Your biggest expense living in the city is going to be rent. Apartments in the city, they go fast! Leases can get signed within minutes of
seeing an apartment by applying a via the internet on the spot as a rule of
thumb don’t spend more than 30 percent of your annual income on rent New York
is an expensive city but the annual income is also higher than the national
average let’s check out the numbers Manhattan’s average annual household
income is just about sixty seven thousand dollars per year while Brooklyn
is a mere 45,000 Queens comes in at fifty-four thousand per year New York’s
most suburban borough Staten Island is also its richest with a median household
income of 70,000 per year and finally the Bronx comes in at 33 thousand per
year you are probably thinking to yourself that is way more than I make
how could I possibly afford to live in New York
the thing is that number it’s very skewed ax most likely if you are
watching this video as research on moving to New York City you’re between
the ages of let’s say eighteen and thirty meaning that your median total
income is nowhere near the average household salary of 67,000 in Manhattan
with that my first tip for living on a realistic budget is to live outside of
Manhattan New York has five boroughs and Manhattan
is the most popular but it’s also the smallest it’s also where most of the big
businesses have their headquarters and where the highest paying jobs are so it
makes sense that it would be the most expensive however with the actual
geography of the city along with the many transportation options living
outside of Manhattan gives you more options for a lot less money the average
rent for a one-bedroom in Manhattan is thirty eight hundred dollars per month
for just about 700 square feet worth of space while in Brooklyn the average rent
for a one-bedroom is only two thousand and five hundred dollars per month in
Queens two thousand per month in the Bronx just 1,800 and in Jersey City just
two thousand and six hundred dollars per month before you can even see an
apartment make sure it’s in your budget most landlords in New York City require
your gross annual income that to be 40 times the monthly rent meaning that to
rent the average one-bedroom in Manhattan you need to be earning around
150 thousand dollars per year although if you can’t afford that you can get a
cosigner guarantor who will need to make 80 times the monthly rent now the simple
solution if you don’t make anywhere near that amount or you don’t have anyone to
co-sign your lease is to live with roommates it’s not ideal but when you’re
just starting out and you’re trying to make it in the city you have to do what
you have to do even though it’s the most expensive for the purpose of this video
we’re going to be looking at the top three most affordable neighborhoods in
Manhattan number one on my list is sty Talent sty town is a sprawling
collection of red brick apartment buildings stretching over 80 acres from
first Avenue to Avenue C between 14th and 23rd streets sty town has close to
9,000 apartments in 89 residential buildings the average price of a studio
in stone is $2,600 per month I have never been to sty town and my first
reactions it is so peaceful and so quiet here it’s pretty much like its own
separate city within this there’s even a little cafe over there
there’s people walking their dogs just going about their daily lives
the only drawback I can really think of is that the buildings are all pretty
bland they almost look like hospitals or some kind of institution but the good
thing is right next to you is the East Village with tons of bars restaurants
cafes lots of vibrant nightlife all at all I would recommend stye town next up
on my list is the iconic theater district the theater district is bound
by West 40th Street on the south and West 54th Street on the north between 6
and 8th avenues the theatre district also includes the iconic Times Square
where the average price of a studio will run you $2,900 per month
most people wouldn’t think of the theater district as a place to live you
know it’s known for the bright lights and all the shows but it’s actually one
of the cheapest places to rent in the entire city some positives of the
theater district you have tons of restaurants all the shows the bright
lights is what people think of when they think of New York City but with that
comes the noise and also the crowds so if you’re looking for that peace and
quiet I wouldn’t really recommend this neighborhood but if you’re trying to
save money you get what you pay for and coming in at number 3 is Hell’s Kitchen
which is widely known around Manhattan for very very affordable rent Hell’s
Kitchen is located from 34th Street to 59th Street and from 8th Avenue to the
Hudson River in the West this is ninth Avenue now this is the main drag in
Hell’s Kitchen well the restaurants and cafes are now Hell’s Kitchen is
definitely more on the quieter side compared to the theater district as you
can see behind me this is what a typical neighborhood looks like lots of brown
stones very residential so we’re just filming in Hell’s Kitchen and we run
into max who lives here and what would you say is the best thing about Hell’s
Kitchen absolutely the rent I have a one-bedroom
apartment in New York City for $1,900 1904 one bedroom one bedroom no fee try
to pay a fee for the broker nothing newly renovated stainless steel
appliances you heard of here from a local the rent is very affordable in
Hell’s Kitchen if you’re looking to learn more about
how to budget your finances before your big move to New York City
check out this course on money management which
one of the many courses offered by the sponsor of today’s video great courses
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100 Comments

  1. A look at what it takes to live in New York City on a realistic budget! Comment below what type of NYC content you want to see in the New Year!!

  2. good lord i could get a mortgage for a nice 4 bed 2 bath nice suburban home for less than the monthly rent in my country

  3. None of the major cities are what they use to be. The culture pride essence has been pawned away little by little in exchange for rich assholes and rich foreigners neither of which give a damn about what the cities use to be.

  4. This only applies to anyone living near the city Square of big city in the U.S. My friend was trying to move somewhere near Biscayne and he found a home(which is a all in one box) that have a $1,500 monthly payment. My biggest advice for anyone who tries to move near any big city is find someone you know 1st and later get a job and help out to pay half of the monthly cost. And let hungry-man be your food source.

  5. Marina Del Rey and Playa Vista, CA average 2 bedroom rent is probably 3,400 for a ~1,050 sq ft apartment. Most in Playa Vista start at around 4,000 for a 2 bedroom for about 1,100 sq ft. Not quite as expensive as NYC, but getting there, unfortunately.

  6. Nyc is the best city in the US, I'll enjoy as long as I can, small towns and anything rural is so boring and depressive to me. The sameness, the lack of diversity, food, culture, options… Just don't ever wanna leave the city.

  7. Money management is what no one has in NYC ahaaha even the "tippy tops" ahaaha check this out homeboy if you live in nyc making a 100k after taxes you got about 72k left now since you are making a "100k" you wanna live like you are making it rain so 3000 monthly will be your rent multiply 3000 times 12 you got 36k , minus that your 72k after taxes you are looking at 36k left to your name now you also gotta have your basic food, utilities , did I mention 3000 is ONLY for rent ? EXCLUDING UTILITIES? I'll just leave you with your 36k a year EXCLUDING food, clothing, utilities, transportation, cellphone, internet , going out every Friday and Saturday and sunday for food drinks because after all you making 100k right?

  8. I would end up in a homeless shelter in a place like this, and many people don't recommend those, but the upside is that you don't have to pay anything as long as they allow you to stay there. It's as affordable as New York City can get.

  9. Born and raised in New York and never paid over 1200 for an apartment Harlem but far is one of the cheapest in Manhattan along with wash heights hells kitchen not forgetting Spanish harlem

  10. the Jersey city price will vary greatly. I am sure you can get an apartment less than $2,600 a month, by going another 10 minutes inland on the train.

  11. I’m moving to Manhattan once I turn 16(in a year), probably in soho or TriBeCa. I’m also going to live with a friend so that’s gonna be fun

  12. My annual income is around 1000 -1500 $, I'm renting an apartment (basement), I have a bachelors degree, wife and a child, I work part-time at the junkyard. You should be thankful.

  13. One in every 25 new Yorkers is not the same as one in 25 walking down these streets.
    I assume the mililionaires walk less and keep to themselves.

  14. Been to NY 4 times, currently living in Sydney, Australia, moved here from Germany and totally no Regrets. No Comparision!!!!!

  15. I'm so glad I lived in NY in my late teens and early 20's as a nanny cause there's no way I could afford to live there now. Those rent prices are ridiculous…And definitely not affordable unless jobs pay extremely well there. That's a video idea … What does the average Joe get paid an hour in New York for regular jobs such as Janitor, hotel housekeepers, Retail sales, etc.

  16. Renting and getting a job in NY is stupid,You need to have a factory or something elsewhere to afford expenses in this city.

  17. If you wanna live in new york cheaply… just live outside Manhattan, literally anywhere 2 hours away is cheap 😀

    Thats by train that is..

  18. Rachel Green taught me you can live in a big NYC apartment by working at a cafe for one or two hours a week and sucking at your job.

  19. Why am I watching this? I have no intention of moving to NYC. I think I just find it baffling and interesting at the same time that there are those who would pay an absurd amount like $3,800.00/month for something they’ll never own. That and the lack of sensory deprivation alone is enough to deter me. As the great John Muir once said “the mountains are calling me, and I must go!”

  20. “the bronx coming in at $33,000 per year”
    “I know what you’re thinking.. ‘I’m making nowhere near that!’” ……that’s literally a dollar over minimum wage

  21. I live in a very spacious 2 bedroom apartment for under 1k in Indianapolis. These prices in this video are CRAAAAAAAZY!!!

  22. Crazy 3000 square foot 4 bedroom in Houston TX 1697 month. Mortgage payment mind you. It’s sad how they allow the City to rape them. I love Texas. Keep New York.

  23. I’m 16 and I’m watching this and more videos just because I’m in love with this city and I hope I’ll live there in the future. I wish I could build my future life there. I’ve been in NYC once and I’m already in love.

  24. My share of rent is about $310/month. I make $50,000/year. I cannot imagine paying $2000/month for rent. Even on my income, that doesn't leave much left over for other things.

  25. who wants to live in that shithole anyway? full of thugs prostidudes drugs .the only interesting thing is times square .if you can afford to live in that area great.

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