Housing for Summer

Based on the most helpful WSO content, many summer analysts in NYC tend to live in areas like the East Village, Midtown, or Hudson Square. These neighborhoods are popular due to their proximity to other interns, decent commute times to offices, and vibrant social scenes. However, affordability is a key concern.

Here are some insights and tips:

1. Budget Considerations:

   • Staying under $2,500/month is possible, but you will likely need to have roommates to make it work. For example, splitting a 2-bedroom or 3-bedroom apartment can significantly reduce costs.
   • Studios in areas like East Village or Hudson Square can range from $2,500 to $3,500, so sharing is often the best option.

2. Neighborhood Recommendations:

   • East Village: Popular among interns for its lively atmosphere and social opportunities. However, it can be pricey unless you share.
   • Hudson Square: Costs range from $1,500 to $2,500 with roommates, making it a viable option. It's a bit farther from most offices but still manageable.
   • Midtown: Convenient for commuting to Columbus Circle and offers a mix of housing options.

3. Websites to Use:

   • StreetEasy: A go-to platform for NYC apartment hunting.
   • Craigslist: Can be useful but requires caution to avoid scams.
   • Facebook Groups: Many interns find sublets or roommates through finance-related housing groups.
   • No-Fee Apartment Listings: Look for "no fee" apartments to save on broker fees, which can be as high as 15% of annual rent.

4. Additional Costs:

   • Be prepared to pay first and last month's rent, a security deposit, and possibly a broker fee. For a $2,000/month apartment, upfront costs could total $8,000–$9,000.
   • You’ll also need to show proof of income (40–65x monthly rent) or use a guarantor (100x monthly rent).

5. Timing:

   • Apartments in NYC move quickly. Be ready to commit immediately when you find a suitable option.

If you’re looking to stay near other summer analysts and keep costs under control, sharing an apartment in East Village or Hudson Square with roommates is a practical choice.

Sources: Best neighborhoods to live WITH GF in NYC (and timing) - 1st year IB Analyst Midtown Summer 2019, SA 2021 NYC Housing Thread, NYC Analyst Housing Meltdown, Why You Should Leave NYC After Your Analyst Stint, Where to live in Minneapolis?