Rent on 110 base?
I've been looking at 3-4 bed apartments in West Village/Greenwich/Flatiron/SoHo/Chelsea.Would $2500/month be reasonable on a 110 base or is that on the higher end/too much?
I've been looking at 3-4 bed apartments in West Village/Greenwich/Flatiron/SoHo/Chelsea.Would $2500/month be reasonable on a 110 base or is that on the higher end/too much?
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The general rule (and rule to get accepted by a landlord) is your base/40. That would put you at $2750, so $2500 is fine assuming all of your roommates have similar incomes.
One important thing to know is that NYC is EXPENSIVE - think $75pp for most dinner places in town and $15 for any drink. Even being qualified, $2500 is still taking a big chunk of your paycheck every month. You might have to budget a little more carefully, especially if you like nice dinners or going out frequently. But you definitely won't be the only analyst paying that.
And let's not forget that's based on gross income, not your actual net "take home" income. So depending on how you have your benefits and other automatic deductions set up, that 40% gross figure can easily become over 50% of your take home each month.
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