How much is 50 k in New York?

Design Discussions design employment
1

I just got an opportunity in New York, NYC, transport and product design, and I was told to expect 50k. I have 2 y experience with an MA in Transport design. For what I know I believe this is a normal salary, but is it really possible to enjoy life on that salary in NYC? I have my doubts.
Do anyone of you have expereince from NY? Greatful for any comments…

2

Use this to figure it out

http://cgi.money.cnn.com/tools/costofliving/costofliving.html?step=form&x=39&y=10

3

Thanks, quite useful. But unfortunately one cant compare with european cities. but thanks anyway…

4

living in manhattan on that salary and “enjoying” life might be a challenge, but if you’re willing to live in brooklyn/queens/etc… it’s a decent salary…

5

I see. I guees you can save some coins on housing, manhatten vs queens/brooklyn. What do you recon one should estimate as housing budget a month, on a 50k salary? And what do you get?

6

well a decent 1 bedroom in a good neighborhood of brookln will be from $1300-1600/month, studio maybe around $1000 with utilites around $100

7

Thanks a lot, essentail info…

8

if you want to get an idea of the market rate for rentals check this out

9

Studios in Manhattan range from $1500-$2500 depending on neighborhood. 1BR expect to pay $2000-$3000

there is a huge range of Cost of Living in neighborhoods in Manhattan as well as Brooklyn. ie some Brooklyn areas are much more expensive than some Manhattan areas…if you’re seriously considering moving, it’d be best to come for a weekend and walk all the neighborhoods with someone who knows them.

10

oops

11

I believe the universal average is that your rent should be around 30% of your yearly income. I do wonder if this is true for New Yorkers? because I certainly heard from friends that rent can quickly stifle your lifestyle.

So 30% of 50K is 15K divided by 12 months = 1250 roughly to play with
Do NYC people pay well above 30%? It would not be shocking if that was the case.

12

i dunno if you can make a base calculation on gross salary. especially if you compare to european countries or other places with lower/higher tax rates. maybe still generally true, but i would think a calculation based on net income would be more accurate.

R

13

I know plenty of people who do NY with 50K, though you will probably either have to have a roomie, or live in Brooklyn or Jersey.