Is paying $2600 per month for rent livable as an Analyst in NYC?
I've found a 1 BDR that can be flexed into a 2 Bedroom in a very nice building on the UES. The room is extremely spacious so size will not be an issue, close to the subway, and is an elevator/doorman building. However, total price is $5200 per month so it will be $2600 each. Is $2600 livable as an analyst making a $110,000 base ($140,000 with bonus) in New York City?
$110,000 / 40 = $2,750 max, you're good
why divide by 40? is that just a good rule of thumb?
thats the maximum you will be approved for by 99% of landlords. Anything over that, you'll need a rich parent who makes 80x to guarantee your rent. Google the 40x rule it's pretty common especially in NYC
It's fine, just watch your other spending a bit since it'll be about one full paycheck on rent. $2,600 is still pretty low by NYC standards unfortunately, so if it's a nice place that is worth the extra few hundred over a crappy unit.
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