How Much You Need To Live In New York City | NYC Money Street Interviews

I have lived in NYC for 9 years now- across Queens, Brooklyn and now Manhattan. A good thumb rule is make Gross minimum 55X-60X annually of what you want to spend on monthly Rent $ to afford comfortable living and 20-30% savings on Net. i.e. for a $2500 rent, you should really aim for $135-$150K before taxes. Uber/Lyft expenses+ 401k contribution/Investing+ Vacation travel+unplanned lunches and dinners are all unavoidable and need to be accounted for and budgeted as a line item adjusted as monthly expense.

All the Asian women work in finance now😂😂 Where is the white American male?😂😂😂Suddenly disappeared 👻?

These people had great financial advice actually haha

The graphic designer lit up and said "nnnNvidia" like a champ

I want to know how that guy is semi retired!

Me and my wife make about 250k(before tax) a year, and we are struggling with 2 kids… the price of everything has been going up, we barely can afford to go to restaurants twice a week, we cook at home most of the time…

I couldn't believe them when they said 200 and 400k. That number alone tells me a lot about how they grew up and what they're accustomed to. Granted they work in Finance, but that number is absurd because it says that your money is going out as fast as it is coming in. As someone in Fintech and raised in Brooklyn, to comfortably live here as a single person w/o roommates, it would be much less than what the two women quoted.

I lived comfortably in Brooklyn from 2012-2014 on less than $20k. I had a couple of roommates, but I had nice bedrooms for $650-800 and all my basic needs were met. I would need to earn more if I were going to live in NYC now. But ultimately, quality of life depends on you & your circumstances. A lot of people have over-inflated ideas of how much $ they need for comfort because they never learned how to be resourceful.

"The MTA should be free" .......imagine thinking that and not grasping how theyll still get that money from you via taxes.

Honstely i say 80k from what i hearad from all them you would just have to shar your smmall apartment eat tuna chinken rice and defentiley going to be worried bout alot of shit but 80k bar minum and 200-350k to live the average comfortable life with all the extras like Starbucks date night all the nice thing though if u did have a person to split that would make it alot more livable

Lets start off by having actual borough facts. Brooklyn is bigger than Williamsburg all the way to Bedstuy. 🤦🏽‍♀️

the fruit stand guys on the street are the best! shout out to ALL the food vendors out there in this crazy nyc weather who are feeding us. we love you.

Williamsburg has gone up soooo much! Pre-pandemic me and my friends were renting a huge 4 bedroom loft for $2900 total. Now small one bedrooms are $4000

Dennis is semi retired ?

I’m a Chicagoan and always been interested in moving to NYC and Brooklyn was where I wanted to go and this opened my eyes for sure. This is wild compared to how much you could live comfortably here and go out and such. But I love all the advice and tips, amazing video

Why is everyone so chill about paying 2k in rent?

Williamsburg is Brooklyn in the same way that Manhattan is New York State.

New York is full of crime and crackheads on the streets not a good place to live

You could easily live there without a six figure salary.

I think there is a little bit of entitlement in this video. to actually make 100K to live in Brooklyn is not realistic for many people who may not have a college education. The average income in Brooklyn is 33,183. Where are the people that make that income at? They are the ones I would want to hear from. I suppose they are not hanging out in the middle of the day at McCarren.

I lost a few brains I was watching this. I've been meaning to make a video on how New Yorkers can afford New York and the truth is that the majority of native New Yorkers have subsidized rent, rent stabilization/ control. If we were to abolish these subsidies more than half the population would be homeless and the housing market would collapse.

200k for an individual is a bit crazy, williamsburg i understand but cmon now lol

To live the lifestyle that these people feel they deserve will cost 200K plus. They are also completely out of touch with reality.

35 and semi-retired? good lord, stop

People just need to admit that living in nyc is a scam

Don't invest too much, keep at least a few months rent.
You never wanna get into a situation where you have to sell all your stocks etc at a bad time.

As someone who used to be a starving musician/music student and now earns a high 6 figure salary as a remote software business owner, I have given up entirely on living in expensive cities in the U.S. like NY or L.A. The best financial decision I have ever made was to leave the U.S.

Anyone saying you need to make at least $100k to live in NYC is out of touch.

I feel like the ones saying 100k are way underestimating

the answer is too damn much

It really depends on which side of Brooklyn they are talking about. There are parts of Brooklyn that are much cheaper. Also, these people can consider room sharing if it gets that expensive.

Mta should be free:😂 I guess she wants to pay more taxes

How much to live in a closet for 4 years in long island near the empire state building while i get an education?

rent...

Amazing, thank you😊

10.000 dollar a month is decent to live in NYC, wdyt guys?? 😅

The people saying $80k - $100K don't live in that area. Its well over $100K easily.

Buy a parking spot and live in a van life.

“MTA should be free “ 😂 🤡

Agreed: it depends on how you choose to live, do you want a washer and dryer, do you want a dishwasher, do you want to have a bathtub, do you want a beautiful space to live??? After living in almost all the Burroughs for a collective 15 years, I have a voice here. It’s wayyyy more expensive city than most realize. Remember that right up front 50% of income goes to taxes - local, regional, state and federal. If you ‘make’ 100K, expect to live off 50K. Hard facts.

Yeah when I moved to Carroll Gardens in 2020 people were abandoning their apartments in the City by the ton load. My place was 2,300 for a 4th floor walkup at the time. After moving out, the same apartment I lived in is now 5,635.

Unless one is foolish enough to own a Car, the two biggest expenses are Rent / Mortgage and Food.

Bukola the Uncle Tom Girl.

Next time interview people who are actually from Brooklyn those people are transplants

Next time interview people who are actually from Brooklyn those people are transplants