Ok, let's figure this out. Market rent in my area (Bed Stuy) is $2200/mo for a 2BR. I'm splitting $3000/mo. Let's assume I'm staying 2 years and that the $220

Ok, let's figure this out. Market rent in my area (Bed Stuy) is $2200/mo for a 2BR. I'm splitting $3000/mo. Let's assume I'm staying 2 years and that the $2200 apartment would charge one month's rent as a broker fee (standard practice, often higher). I got one month rent free for my apartment and no broker fee. $2200/mo room * (12 mo * 2 years + 1 month of broker fee) = $55000 total for 2 years. $3000/mo room * (12 mo * 2 years - 1 month free) = $69000 total for 2 years. So, the difference is $14000 / 2 people = $7000 per person over 2 years, or $3500/year over market rent. This comes out to 2-3 months extra per year per person. ... The real question is, is it worth it for what I'm getting? I made the decision that yes, thus far it's worth it. Could I have gotten something cheaper? Sure. I was paying less when I lived in Manhattan ($900/mo!). But I like having central air (very few NYC apartments do), I like having no neighbors above/below my bedroom (I DJ/produce in my spare time and I wouldn't want to bother anyone. Also in Manhattan I had a situation involving a neighbor upstairs...), I like living across from the train (cheaper apartments are at least a few blocks walk), and I like having a good amount of space to myself. It's nice to have roof access, and the apartment is quiet and bright. As a software developer I'm making enough to not feel strained budget-wise. I think it makes sense to spend a little extra on living in a nice place. Lord knows there are enough crappy apartments in NYC.