5 ms·
A "booming" NYC is not necessarily a purely positive thing. SF and NYC used to be fairly comparable as far as cost of living goes but now renting in SF is comp
by tempsy 3y ago
A "booming" NYC is not necessarily a purely positive thing.
SF and NYC used to be fairly comparable as far as cost of living goes but now renting in SF is comparable to a dozen other metros (eg. $3k for a 1 bed, under $4k for a 2 bed) but in NYC it's a now an absurdly expensive outlier eg. $5k+ for a 1 bed in a convenient area in Manhattan or Brooklyn.
Beyond that eating out/going out/uber+taxis all seemed much more expensive in NYC than SF when I visited last month.
- woodruffw 3y agoNYC is indeed absurdly expensive (and getting worse), but: you're being taken for a ride if someone is trying to rent you a 1BR for $5K. I live in a convenient (and "cool") area and pay less than a third of that. The only 1BRs that I'm aware of that go for anywhere close to that are "luxury" rentals, which tend to be worse anyways (newer construction means thinner walls, etc.).
- tempsy 3y agoYou're suggesting paying $1600/mo for your own place is a really good area of NYC is more the norm than paying $5k? That's simply untrue. Average 1 beds on Zumper for all of Manhattan is $4k. In more central areas downtown it's absolutely going to be more right now. https://www.zumper.com/rent-research/manhattan-ny https://www.zumper.com/rent-research/manhattan-ny And if you rent something that requires a brokers fee then that's another ~2 months of rent you're paying on your initial lease.
- woodruffw 3y agoI said I live in a "cool" area, not midtown Manhattan. I don't live in Manhattan at all, although I did for over 20 years. Looking at 1BR rentals in Bushwick and Ridgewood (not my areas, but similarly considered "cool"), the average is between $1800 and $2500. Studios average $1400 and $2100.
- tempsy 3y agoYou're still exaggerating. Streeteasy says median for Bushwick is $3200. Zumper has it at $2850 for a 1 bedroom https://www.zumper.com/rent-research/new-york-ny/bushwick https://www.zumper.com/rent-research/new-york-ny/bushwick Yes, it's possible to rent for cheaper in the outer boroughs hence why I specifically said central and convenient. If something is $1800 it's because it's a dump or a tiny studio. It's not a normal amount rent someone is paying at all for their own place right now.
- woodruffw 3y agoI don't know what to tell you: I pay about $1600 for my part of a three bedroom, which is two bedrooms to myself (one is my office), a private back yard, a front patio, and a furnished basement. I don't think I got a particularly good deal on it either, from talking to my neighbors and friends. It's not "luxury," but it definitely isn't a dump either -- from seeing other units in the neighborhood, it's probably strictly average. The rates provided on these kinds of sites don't necessarily reflect the median housing stock in neighborhoods in Brooklyn, which are frequently buildings where the owner lives in one of the units.
- tempsy 3y agoI'm talking about what it would cost an individual to live in their own 1 bedroom in a central and convenient area not a shared apartment with roommates.
- woodruffw 3y agoI just checked, and the last 1BR I lived in (Manhattan, in a very central and convenient neighborhood) was leased for $2250/mo this year.
- mustacheemperor 3y agoI read that whole exchange eager to learn the secret of an affordable one bedroom apartment in New York and the secret is rent part of a place with roommates. I can only chuckle.