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> The largest monthly expense for anyone making $60,000 a year is most likely going to be rent, unless you are living in a car or a tent and showering at the gy
by bradleyjg 8y ago
> The largest monthly expense for anyone making $60,000 a year is most likely going to be rent, unless you are living in a car or a tent and showering at the gym like I was.
Even the most expensive markets there are a huge range of options. Today in NYC you'd be hard pressed to find your own private place for $1000/month. That wasn't true as recently as 5-6 years ago, but it is now. On the other hand you can find a very decent place for $1500/month. You won't be in Manhattan or the cool parts of Brooklyn, but you will be safe and comfortable.
$1500/month is still only 30% of gross on $60,000/year which leaves plenty of disposable income even in high tax NYC.
Maybe SF is worse, but if so that's the only place in the whole rest of the country that's worse.
The issue becomes when you "need" more bedrooms. Or insist on certain neighborhoods.
- anoncoward111 8y agoI'll take your analogy a step further. You can have a room in my apartment 1hr east of Penn Station for $650 if I can trust you. $650 is about a week's pay for me, so I make less than $60,000 for sure. But food and transport are things, and so is the occasional medical care or movie. I live pretty frugally and can typically save $1,000 per month. But in this area, inflation and rising cost of living will virtually guarantee it's a meaningless amount 30 years from now.