How much $$$ to live in NYC?

[DMickey28]

I was watching Wife Swap yesterday on lifetime (a rerun.) One of the wives was a Millionairess with three kids. They said that the husband's job pays for their lifestyle and her family money pays for her needs. She spends $4000 a week in clothes!!

They lived in a $3-4million dollar apartment, have 4 nannies for three kids, a cook and she has a driver. Now just in my estimate the live-in and live-out help in the house has to be at least $135K a year if not more.

So my question is what in the world can this man make for money and what kind of job brings in that kind of money?????

My DH makes a very good living but we could never afford to live in NYC. We can barely afford to live here!!!!!

 

[java]

That is a tiny % of those that live in NYC- think trust funds, investment bankers, lawyers- all very high paying in nyc- Stock brokers can make a million just in a bonus.

I have friends that live very nicely on a more modest income- of course they don't spend $4000 a week on clothing either

 

[DMickey28]

i just can't even fathom making over $1million a year ... Seriously!!! I guess it's all relative!

 

[Robinrs]

That's over the top by far.

I knew many millionaires in NY, none of which were flashy. She sounds nouveau riche.

The old money people are much more subtle. They invest more than spend and you probably couldn't tell one from another person on the street. The wealthiest person I knew inherited INCREDIBLE money from his uncle and still lived very frugally. We finally got him to buy an apartment in Trump Tower and he can't stand it!! He married a nice girl who had NO IDEA what he was worth and moved out of the TT and lived comfortable in NJ!

 

[Laugh O. Grams]

We sold our apartment on the Upper West Side of Manhattan just recently and I can tell you that you can easily live in the city for less than $1,000,000/year. However, if you want to do just about anything you'd like and rent a nice apartment, I'd say about $250,000/year is a good starting salary...

Obviously, you can live in the outer boroughs for less.

 

[jel0511]

DH and I live in NJ(DH works in NYC) and we were actually talking about this the other day. We said to live comfotably out here, you need a minimum of 250k a year in salary.... Now, that DEFINATELY doesn't include spending 4,000 a week on clothes....

 

[EthansMom]

So my question is what in the world can this man make for money and what kind of job brings in that kind of money?????

He's probably in finance or a corporate manager.

Even with the fancy condo, paid help, and expensive shopping habits, they could be in debt up to their eyeballs and have very little money put away for the future.

We live in CT, in a weekend community for a lot of Manhattan folks. Like anywhere else, there are folks who act like they have money but are living on credit, folks who don't have money and don't spend money, folks who are doing okay, folks who have money and act snooty about it, and folks who have money but you'd never really know. Though I know people who do it, it would be VERY difficult to live in our town on an income of less than $100,000 a year.

 

[Where'sPiglet?]

DH and I live in NJ(DH works in NYC) and we were actually talking about this the other day. We said to live comfotably out here, you need a minimum of 250k a year in salary.... Now, that DEFINATELY doesn't include spending 4,000 a week on clothes....

I live in NYC on about $50k/year and I'm also paying out of pocket for a master's degree. It's not easy. I live in an outer borough (BX) but it's still not "comfortable".

Seriously, my biggest dream in life right now is to have my own washer and dryer. IN MY HOME. And some outside space to call my own would be nice. And a car.

The mass transit system is pretty good though.

 

[NEVERENOUGHWDW]

We sold our apartment on the Upper West Side of Manhattan just recently and I can tell you that you can easily live in the city for less than $1,000,000/year. However, if you want to do just about anything you'd like and rent a nice apartment, I'd say about $250,000/year is a good starting salary...

Obviously, you can live in the outer boroughs for less.

When we lived on the UWS of Manhattan, West End Ave. in the low 70's our monthly rent was $3,850 monthly + garage for 1 car.
We did have round the clock doormen and a lovely rooftop garden. To us the price was worth it with Lincoln Center & Central Park just a few blocks away.

 

[frndshpcptn]

When I lived in NYC in the east 30's (until last year), my rent for a one bedroom was $2700 a month.

But, my building had three full time doormen, a roof gym, hot tub, pool, track, dry cleaner and deli.

You can do it on less.

I now live on Long Island and own a place.

 

[Imzadi]

I was watching Wife Swap yesterday on lifetime (a rerun.) One of the wives was a Millionairess with three kids. They said that the husband's job pays for their lifestyle and her family money pays for her needs. She spends $4000 a week in clothes!!

They lived in a $3-4million dollar apartment, have 4 nannies for three kids, a cook and she has a driver. Now just in my estimate the live-in and live-out help in the house has to be at least $135K a year if not more.

I don't get what this thread is about? All of us who live in NYC, live like that.
Well, some minus the nannies. . .













. . . and some minus several zeros on the income.


.

 

[NEVERENOUGHWDW]

I don't get what this thread is about? All of us who live in NYC, live like that.
Well, some minus the nannies. . .
. . . and some minus several zeros on the income.


.

There was a question in the OP, perhaps you missed it.

 

[troobabiee7]

There was a question in the OP, perhaps you missed it.

I think they were joking

It takes a whole lot of money to live in the city, but it's doable. Most apartments go for around $3-million to buy, or $2500 a month rent. My cousin goes to NYU and has her own apartment in Union Square - she's paying $3500 a month for a 1-bedroom Real estate around here's insane. I'm in Brooklyn and the housing market around here has dropped along with the rest of the country, but most homes are still upward of a million dollars in the nicer areas, and rent goes for around $2000 a month. Other than housing, it's relatively easy to live in the city on a much lower budget. Of course this doesn't include millions of dollars in clothes

 

[Handbag Lady]

I think they were joking

It takes a whole lot of money to live in the city, but it's doable. Most apartments go for around $3-million to buy, or $2500 a month rent. My cousin goes to NYU and has her own apartment in Union Square - she's paying $3500 a month for a 1-bedroom Real estate around here's insane. I'm in Brooklyn and the housing market around here has dropped along with the rest of the country, but most homes are still upward of a million dollars in the nicer areas, and rent goes for around $2000 a month. Other than housing, it's relatively easy to live in the city on a much lower budget. Of course this doesn't include millions of dollars in clothes

See, you learn something new every day here on the Dis. Our rent is $2k a month out here. I seriously thought that it would be impossible to live in NY on the same salary. We live frugally, too.

 

[troobabiee7]

See, you learn something new every day here on the Dis. Our rent is $2k a month out here. I seriously thought that it would be impossible to live in NY on the same salary. We live frugally, too.

I don't think many parts of southern California and and NY are all that different when it comes to cost of living. What part of Cali are you in? Granted the $2000 a month here is for a 1-bedroom, 1-bath so it's still crazy but there are other parts of the country where it's just as crazy

 

[Handbag Lady]

I don't think many parts of southern California and and NY are all that different when it comes to cost of living. What part of Cali are you in? Granted the $2000 a month here is for a 1-bedroom, 1-bath so it's still crazy but there are other parts of the country where it's just as crazy

We are now in the valley due to our work locations, but we lived in Marina del Rey for 10 years. Or MDR rent started at $1200 for a 1 bedroom in 1994, and went up past $2100 in 10 years. We are now "just" in the valley in Sherman Oaks at $2k/ month.

We have a two-bedroom, but no laundry in the unit. This includes one parking space so we pay extra for the other space.

 

[Imzadi]

See, you learn something new every day here on the Dis. Our rent is $2k a month out here. I seriously thought that it would be impossible to live in NY on the same salary. We live frugally, too.

Most of us don't have a car. So that means no car payments, no car insurance and no $4/gallon in gas. Also, our salary wages tend to be higher than in most other parts of the country. Goes with the cost of living here.

BTW, I love Sherman Oaks.

 

[Aimeedyan]

My great uncle lives in NYC - near the flatiron building (36th?). He moved there in the 50s with his wife into a rent control apt. That sucker is huge and $450 a month.

Everytime one of his neighbors passes away, they gut the place, make it a 3 bedroom and raise the rent by about $3k.

Otherwise, there would be no way for him to still live and work in NYC.

 

[DISUNC]

I was watching Wife Swap yesterday on lifetime (a rerun.) One of the wives was a Millionairess with three kids. They said that the husband's job pays for their lifestyle and her family money pays for her needs. She spends $4000 a week in clothes!!

They lived in a $3-4million dollar apartment, have 4 nannies for three kids, a cook and she has a driver. Now just in my estimate the live-in and live-out help in the house has to be at least $135K a year if not more.

So my question is what in the world can this man make for money and what kind of job brings in that kind of money?????

My DH makes a very good living but we could never afford to live in NYC. We can barely afford to live here!!!!!

Former New Yawker here!

1) It is crazy EXPENSIVE to live in NYC. A little studio apt, about the size of a Prison Cell with a SHARED Bathroom goes for over 1500k a month alone!!!! ...and NO the Salary's there arent much better than the rest of the Country.

2) Dont believe ANYTHING you hear on Wife Swap! I swear its all staged bull.

 

[NEVERENOUGHWDW]

I think they were joking

It takes a whole lot of money to live in the city, but it's doable. Most apartments go for around $3-million to buy, or $2500 a month rent. My cousin goes to NYU and has her own apartment in Union Square - she's paying $3500 a month for a 1-bedroom Real estate around here's insane. I'm in Brooklyn and the housing market around here has dropped along with the rest of the country, but most homes are still upward of a million dollars in the nicer areas, and rent goes for around $2000 a month. Other than housing, it's relatively easy to live in the city on a much lower budget. Of course this doesn't include millions of dollars in clothes

Ummmm my reply was #9.
Thanks for all the info.