Saturday, June 11, 2011

People that live in new york city ? -

i plan to move to new york when i graduate but i ll be coming alone . Of course im going to have money saved up but i dont know how much i would need. I ve been looking online and for a one bed room apartment i ll need 2500 down and pay 2500 a month. that price is crazy high ! i ll also be attending college but that will be paid for . my question is will most of the jobs in NYC cover the cost of a $2500 rent ??can a minimum wage job cover that ? help me out please

First of all, you can get a nice one-bedroom apartment in NYC for $1,500/month.No, most of the jobs available in NYC *to a young person just starting college* don t pay enough to cover that rent!! Rule of thumb: the most you can safely pay in rent is 30% of your income. $1,500 is 30% of $5,000, so to cover a $1,500/month apartment you need to be making at least $5,000/month, $60,000/ year. [If you re interested in the more luxurious type of apartment that runs $2,500/month, do the math, you need to make even more.] A minimum wage job, in contrast, makes about $15,000 per year.It is not realistic to plan on renting yourself a one-bedroom alone as a college student arriving in New York. By sharing with 2 or more roommates, you can bring down the cost of living a LOT.

You can find less expensive living options in Brooklyn and Queens. Many areas you can find a samll apartment for $700-$1000.Finding work to support even that will be tough. Most places will only hire part-timers . Even thirty hours at $10 per will net you about $250 a week. That s a thousand a month. You probably shouldn t spend more than a third of your income on rent so you can see the problem.I don t have any good advice, but felt I could help by describing the scenario. Good Luck!

nope minimum wage will not cover that. but look at different parts of ny, im sure you can find something less expensive.

I totally agree with the first answer.