That is what I should start making for my career in midtown, manhattan, i know its just an estimate(salary.com) but its all i have to go by for now until i graduate.
I won't have a car(use the subway), it will be just me(single male), and i'm thinking of brooklyn-park slope if i'll be able to afford it.
2007-01-19 11:24:18 · 11 answers · asked by OneDay 3 in Travel ➔ United States ➔ New York City
Nice, starting at 60K... you must be studying for a great degree... That salary, right out of school without experience is rare.. but onto your question, one general rule of thumb about percentage of rent paid based on annual salary is 25 - 30 % . If you are NOT looking in Manhattan, you should be more than able to do it at that rate.. in fact, get a roomate.. there is no day like today to start saving for retirement! Park Slope is actually kinda expensive.. but weigh your pros and cons and I am sure you'll do fine.
Good luck!
2007-01-19 11:35:58 · answer #1 · answered by leeloo 3 · 0⤊ 3⤋
There's actually a great formula for this. Take 27% of yout Total Gross Income and use that to estimate how much Rent or Mortgage you can afford. It's a good general idea not to exceed 30% of your income, you need to make room for other housing expenses as well.
2007-01-19 11:38:32 · answer #2 · answered by da_system_installer 2 · 1⤊ 0⤋
You need a job that pays you in the upper $40's and beyond. Keep in mind the cost of living, your monthly expenses. To be a level that you want to live at a comfortable lifestyle - I would say go for above 40 but of course it depends on your skills and educational background - everything is weighed in when it comes to salary & depends on what you're looking for.... good luck!
2016-03-29 05:21:00 · answer #3 · answered by ? 4 · 0⤊ 0⤋
I make only 30,000 a year and I pay $900 rent for a one bedroom in Brooklyn. I dont have a car so I use public transit for $76 a month. I think you can definitely afford it.
2007-01-19 11:37:49 · answer #4 · answered by Anonymous · 2⤊ 0⤋
Well, 60K a year is $5000 per mo., before taxes, and maybe $3400 a month after taxes.
If you spend about 30% of your take-home pay on housing, that means you should be looking at rentals in the $900-1050/month range.
Thank you, come again!
2007-01-19 11:34:35 · answer #5 · answered by Anonymous · 2⤊ 0⤋
I make less than that and I am paying $675 a month but that is not in NYC. I have friends in the DC area that afford $1000 a month for rent.
2007-01-19 11:32:55 · answer #6 · answered by andy 7 · 0⤊ 2⤋
About $750.00 to $950.00 would be a reasonable amount that you could handle giving the fact you would probably use public trans. and such. Im not sure if this would be enough for this area. General rule of thumb 15-18% of your income for rent....good luck!!
2007-01-19 11:32:33 · answer #7 · answered by fxbeto 4 · 0⤊ 2⤋
The rule of thumb that I was always taught was keep your rent to the amount of one weeks pay.
2007-01-19 11:33:23 · answer #8 · answered by Anonymous · 1⤊ 0⤋
They usually tell you to figure 1/4 to 1/3 of your pay for housing.
Outrageous, huh?
2007-01-19 11:32:44 · answer #9 · answered by Anonymous · 1⤊ 0⤋
60K is not a lot of money in NYC with state and city taxes.
you'll most likely need a roommate.
2007-01-19 12:58:44 · answer #10 · answered by Anonymous · 2⤊ 0⤋