If there’s one city that makes people rush to look for an apartment, it’s New York City. New York City can be one of the most expensive cities in the world to live in, and for non-New Yorkers looking to move there, they are often surprised by the price of apartments that are even considered bargains. There are several parts of New York City where a $1,200 studio apartment is considered a bargain.
If you are looking for a 3 bedroom apartment in a decent part of Manhattan you should expect to pay close to $3-5k per month. While the city offers high wages, many people outside of New York City don’t even realize how expensive the prices are. If you’re hoping to find any kind of apartment for less than a thousand dollars, in most of Manhattan, you need to put that thought away entirely.
Studio apartments on the Upper East Side are reasonably priced and can start at $1,750, which is a great deal you should take advantage of. There are very few cities in the entire country that have the same basic housing price level as NYC. If this isn’t shocking enough to most non-New Yorkers looking to move to this city for the first time, what may be even more surprising is that the competition for an apartment is very high and brutal. If you find an offer, you have to have all the paperwork in order and start immediately.
If you’re looking for an apartment in New York City, or even in the early stages of the process and considering moving for work, the general rule of thumb for most places is that in order to apply for a decent apartment, you need to be able to confirm that his annual salary is a minimum of 40x a month’s rent.
Find the exact neighborhood you want to live in, too. Are you looking for Ritz? Art? In which part of the city do you want to live? Of all the boroughs in New York City, the top three for finding decent rentals (by New York City standards) and best deals are Brooklyn, Queens, and the Bronx. No matter where you end up, you should be prepared for a smaller apartment than you’re probably used to. Even “luxury” apartments in New York City are small compared to what you might be used to in other cities.
And keep in mind that despite the high prices, competition for a place to live is surprisingly high. If you see a place you like and can afford, get it immediately. This cannot be stressed enough. If you wait even a single day, there’s a good chance he’ll be gone by the time you gather your things to go after him.
If you’re looking for an apartment in New York City, follow the advice in this article and good luck.