Average cost of living in New York city Of New York residents
How can one live in NYC, part time
Possible to purchase a condo and rent it out through the year to cover owner’s expenses. Is anyone doing this? Any Realtors to advise I live in Florida and do love the sunshine but visiting NYC 8 times in under 3 years is telling me something!
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If you own a condo and are doing all of what you’re saying you must have really good savings accounts, you’re also working a good job or just killing yourself to make ends meet
A standard 1 bedroom goes for about $1,500.00-2,000.00
$1500 for a one BR IN Manhattan is very good
Yeah, if you want to be technically in Manhattan and not actually in Manhattan
For renters, qualifications are generally 40x monthly rent of 80x if you have a guarantor. 1500-2000 is you have an income range for 60,000-80,000
Does your bldg allow sublets over 30 days and less than a year? After u knows this you can go the next step
A friend of mine lives there part-time and leaves it vacant the 6 months she is out of state or country
You have to leave it vacant? You don’t have the option to rent it on Air BB or something similar while you don’t occupy
NYC does not allow sublets less than 30 days. Many condo by-laws do not allow sublets under a year. Also, many condos charge a sublet fee
You nailed it! These are definitely the only 2 people who could live in NYC part time, spot on!
It’s not that difficult, I work with many clients that have pied-a-terre in NYC. Many people come here to chase their dreams.
You would be better off just move to NYC full time. I live in Florida. I’m done with this place. My boo and I want to move to NYC or NJ.
I can’t just yet be there full time. My daughter is in high school and my career is here. I was wondering if an option to rent out an owned place in NY that would help pay for it
I’m envious of anyone living in NYC. I would do anything to live there. I’m moving soon, just so I can be closer. Trying to find an area with a bus with no transfers to NYC.
Well good luck on that my dtr has a studio $2125. Andre Christopher Rivera
How to Live in New York and New Jersey
I do not advise trying to move into NYC unless you’re fully committed and fully prepared, financially. However, a good alternative to not signing a 1 year lease if you can’t afford the one month deposit, one or two months rent, and usually one month broker fee is Airbnb which is usually around $1000/month, depending on area and space. I’d find someplace lower and research the area’s of interest and I believe the lowest amount of time you can stay is a month. The rooms may not be picturesque and you should look for a private one room at least, but it’ll just encourage you to explore the city more. Good luck and be safe!
I’m, moving to NY in a few years. I think. I wish I lived there now part time
I retired to NYC six years ago–I love being here, even with the snow and hot summers! I would hate it if I were only here part time!
I’m open to other areas that I could easily commute into the city.. I heard Jersey City or Hoboken would be a reasonable option with views of the city.
They are cheaper than Manhattan but not much. Jersey City and Hoboken are actually more expensive than a lot of NYC neighborhoods
If you’re serious, look in Astoria or Sunnyside Queens or green point Brooklyn.
If you’re ok being a reasonable commute from Manhattan but still in NYC I can recommend a ton of other neighborhoods.
I strongly suggest against anything in NJ
How does anyone live there part time? Unless you have a huge amount of $ for an apt to buy or down payment for a mortgage and you purchase. Or make an income that would allow you to pay 2500 mo for apt and also pay where you live the rest of the time. I’m sure they are out there
How to Invest in Real Estate in New York and Manhattan
Yeah that’s amazing. If you can afford the move cuz cost of living is way higher in NY than Florida. Most of the time, NY people go to Florida to retire or live where cost of living is way less. I’d rather live in NY obviously but I couldn’t afford it lol.
Very true! Many northerns come south to warm up, allow their bones to thaw and retire their selves to sandy beaches and sunshine. I’ve been in FL most of my life and am searching some time in a city that brings so much art, food and culture of people. I have loved the city each and every time I visited. As much as I loved coming home to drive my own car and obviously it’s a much slower paced life, my heart yearns for more time in the city.
Don’t even bother. I’ve lived in NYC most of my life…32 years to be exact
I moved to FL 12 years ago in 2006.
It’s the BEST choice ever made.
I love to visit NYC but it’s not a place I would recommend to live.
I go back every year because I still have family up there, but its way too expensive and so congested.
This is my opinion, not everyone will agree.
But if that’s how you’re feeling, I wish you the best.
Average prices for rent apartments in New York
I understand and your opinion should always be respected. Not saying this cuz I agree with you either cuz it is stupid expensive to live there but everyone has their own minds. It’s what makes each of us unique. Anyway, I’m in Los Angeles CA now and I would never live in NY again. I love to visit whenever I can though. I have family in upstate and Long Island too so I have reasons to go and it’s wonderful.
I love NYC & miss it terribly. I lived there are 25 yrs & left 6/2015. For many reasons it was the best decision for me. I now have such a higher quality of life, a lot less stress, and sleep regularly. My mental health is greatly improved. There is a cost to pay that’s not just financial.
It’s definitely possible depending on the area you want to live in. It is expensive tho and renting policies vary building to building . I’m a agent that specializes in the selling of properties in the Bronx and Manhattan so let me know
Why would someone EVER pay that much for two sandwiches? I live here, and yesterday, I had a hot turkey sandwich, a large bowl of soup, tree cups of coffee, and a glass of iced tea for less than $14 The people that paid $49 must be easy prey for con artists!
I lost hope for NYC when somebody said they paid $49.00 for 2 (TWO) sammiches from a NYC Deli ? (And that’s with no sides or cokes.) That was in Manhattan.
It’s possible to purchase a condo and keep it as a pied a tierre. In NYC, the law is that all rentals must be 30 day minimum if there are 3 or more units in a building. The individual condo level or coop may have individual restrictions.
I manage a investment portfolio for many international investors with different criteria.
In your case it looks like you want to purchase something that you can rent out for income while having a place of your own when you are in town. For some clients, depending on their criteria, we can arrange multi-year corporate leases, single year leases or month to month/shorter term leases(for example you want to live here 2 months every year and lease it out the rest of the time). There are a lot of benefits of property ownership such as equity appreciation, mortgage tax deduction and depreciation.
You can rent out a condo, but not a coop in most buildings. Have you looked into the price of apartments? In Manhattan and parts of Brooklyn close to the city, you’re looking at $750k to $1.5 million with monthly charges of $1500 to $3000 and up for a one bedroom apartment.
Are relatively rare in NYC, and co-ops restrict subletting. Expect to have a 20 – 50 percent down payment, closing costs, and two years of maintenance on hand in order to meet a sponsor’s requirements—so at a minimum, north of $200k to start the conversation for a studio.
Also plan for maintenance and repairs. Your tenants will have no tolerance for delays in these, and will be happy to take you to court quickly,
Buying is not a great option – very expensive and then the monthly maintenance fees are so high on top of that. You can rent an apartment for less than the maintenance fees of most condos/coops.
Maybe look into Raving? There are some parks in NJ & long Island if I remember correctly. Not sure if it’s any cheaper though, most places it is.
Not worth it if you’re going to put that much money might as well live in it you want to keep paying monthly main fee. Your mortgage then taxes
Our condo requires any rentals to be for at least a year. So living there part time and renting out is not practical. Also many buildings have large move in and move out Fees plus an upfront fee the owner must pay to rent out apartment
We rent a junior one bedroom with utilities included for 900.00 a month and its 40 mints to midtown and 10 mints to JFK. The gentrification has started and saving to purchase a house but not in NYC. I love NYC but can find cheaper homes elsewhere
I am a born and bred NYawker. It is beyond obscene re: rents, food and anything else for that matter. I think the cheapest thing are getting the Metro cards. A closet of a apt is going for approx 2300 a month or more. Only Wall Streeters and Medical Professionals can pay these prices. You may want to try the other boroughs, but you are still going to find the rents high in Kew Gardens, Richmond Hill, Forest Hills or Ozone Park: these were once affordable, but we moved out of Richmond Hill Queens, bc crime was getting bad in City again.