If there is one city that sends people scrambling when looking for an apartment, it’s New York City. New York City can be on of the most expensive cities in the world to live in, and to non New Yorkers who are looking to move there, they are often shocked at the sheer price of apartments that are even considered good deals. There are several parts of New York City where a studio apartment costing $1,200 is considered a steal.
If you’re looking for a 3 bedroom apartment in a decent part of Manhattan, you should expect to pay close to $3-5k a month. While the city offers high pay, many people outside of NYC don’t even realize how expensive the prices are. If you’re expecting to find any type of an apartment for under a grand, in most parts of Manhattan, you should drop that thought completely.
Studio apartments on the Upper East Side are reasonably priced and can start at $1,750, which is a great deal you should jump on. There are very few cities around the country that have that same level of pricing for basic housing as NYC. If this isn’t shocking enough to most non-New Yorkers looking to move to this city for the first time, what can be even more surprising is that the competition to get an apartment is very high and brutal. If you find a deal, you have to have all your paperwork in order and jump on it immediately.
If you’re looking for an apartment in New York City, or are even earlier in the process and considering a move for a job, the general rule of thumb for most places is that to apply for a decent apartment, you have to be able to confirm that your annual salary is a minimum of 40x one month’s rent.
Finding the exact neighborhood you want to live in, as well. Are you looking for Ritz? Art? What part of the city do you want to live in? Out of all the New York City boroughs, the three best for finding decent rents (by NYC standards) and better deals are Brooklyn, Queens, and the Bronx. No matter where you end up, you need to be prepared for a smaller apartment than you are probably used to. Even the “luxury” apartments in NYC are small compared to what you might have become accustomed to in other cities.
And keep in mind that despite the high prices, the competition to get a place to live is surprisingly high. If you see a place you like that you can afford, grab it immediately. This can’t be emphasized enough. If you wait even a single day, there’s a very good chance that it’ll be gone by the time you get your stuff together to go after it.
If you’re looking for an apartment in New York City, follow the advice given in this article, and good luck.
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