Apartments for Cheap

Questions and Answers

Your Questions About 2 Bedroom Apartments In New York City

August 23, 2013

Sharon asks…

If I want to live in times square in New York City. How much money do I need to earn a year in salary

I want to have a 2 bedroom apartment

Administrator answers:

In order to afford a decent 2 BR anywhere near Times Square, you would need to make about $200K a year or more. Figure on about $5,000 a month for rents, extra for parking if you have a car, and a very expensive lifestyle, unless you want to take the subway OUT of the city to where it is less costly.

Thomas asks…

Can I afford to live in New York City?

I make about $4,000 a month.
I plan on renting a one bedroom apartment for $2,000 a month.
I am hoping that another $1,000 would pay for my monthly necessities. (Water, heat, AC, tv, phone, food etc.)
And then I have another $1,000 for whatever else.
Would this work? Or are my calculations off?

Administrator answers:

$4k/month after taxes? The majority of landlords/management companies in NYC require that you gross 40x your monthly rent annually. For example, if your rent was $2000/month, you’d need to have a salary of $80k/year (40 x $2,000). You also need good credit, verifiable employment (pay stubs, tax returns) and on occasion, references from your previous landlord. So, it’s not always what *you* think you can afford.

Mandy asks…

What would living in New York City be like for me?

I’m trying to decide where I’ll live when I’m older and I have decided to try a few big cities. I’m from Texas so I don’t know if I should live in a city. I won’t have a college degree, but I will have a high school one. How much would a 1 or 2 bedroom apartment costs? What would be a good job to get in order to pay for it all? I know cheap and safe don’t mix but I do want a cheap or a little less than average cost on apartments. I would like manhattan but anywhere in New York City is fine. What is everyday life like, the crime, weather, etc.

Administrator answers:

Manhattan rent is something like 5-6k for a 2 room in many neighborhoods. I would say do NOT (!) live in Manhattan. Staten Island is the ideal place to be if you ask me. The everyday life is nice, exciting, clubs almost nightly, the crime is low in most areas, especially Staten Island. The nice suburban like areas are perfect. The crime rate in the Bronx however is off the charts. Do not live there. The weather is freezing in the winter, sweltering in the summer. A bad day in the winter is about 10 degrees or so, a warm day in the winter is about 40 degrees. In the summer a cool day is like 80-85 degrees, a hot day can reach 100.

Ken asks…

should i move away from new york city?

all my life ive lived in a nice neighborhood only 25 mins from new york city sometimes only 15 if not much traffic..

anyway, i love new york city, but i wanna move out of my parents house sometime next year.
i have a full time job but doesnt pay enough to be able to afford a nice rental house here.

i hate apartments.. in new york, especially here, the apartment is 1 bedroom and a tiny bathroom and its usually ugly and too small. i hate small spaces.. i feel trapped.

the house my family lives in is large, but not super large.. so thats good for moving around , but the average tiny rental home detached you know, single family is 2,500 a month and i cant afford friend lives upstate 4 hours away and her 2 story rental home with 3 bedrooms is just 1,000 a month!! i get so know?

soo should i move just for that reason? or what?
the home i live in right now is two story with basement 3 bedroom, 3 bathroom, but this home isnt huge and it cost my family 800,000 a freaking tiny house with 2 bedrooms, no basement and 1 bath over here is 400,000.

what to do!?!? im 21.

Administrator answers:

Go for it. I spent my early years in places with insane real estate markets too and I’m glad I decided to try living somewhere normal. And since your family is there you can always go back.

It’ll take a while to get used to how slow everything is outside the NY Metro area. Actually, I still haven’t gotten used to it.

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