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[–] 6 points 2 months ago (4 children)

you can live in manhattan on that income or is that like two people making that income?

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  • [–] 8 points 2 months ago* (3 children)

    You can definitely live in Manhattan on $140k. You probably have a studio or 1BR apartment.

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  • [–] 4 points 2 months ago (2 children)

    yeah but it lists it as an average while housing is averaging 1.3mil.

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  • [–] 8 points 2 months ago (1 child)

    Most NYC residents rent, they don't purchase the homes they live in.

    $1.3M is actually lower than I would have guessed for this neighborhood considering the amount of homes here that are probably worth more than $10M (maybe it's a median, not a mean?).

    A quick search does show a bunch of listings for studios less than $500K.

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  • [–] 2 points 2 months ago

    140K is an after-tax income of 100K. If you spend 75% of your after-tax income on housing (which is utterly insane but people do it), that's $6250 per month, which could support a house price of $800,000 to $900,000. Not a lot for Manhattan.

    You could also pay $6250 a month for rent which is also utterly insane, but would at least get you a somewhat normal apartment with some actual space.

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