Where to move in NYC Area under $2k a month.

If I were to move, I'd need to live by myself and preferably around $2k a month. Any decent neighborhoods that isn't a terrible commute to tribeca area? Jersey City or Hoboken?

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Comments (15)

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  • Associate 3 in IB-M&A
Sep 13, 2021 - 6:16pm

StreetEasy is the gold standard over Zillow, much easier to look at stuff.

Jersey City or Hoboken are great if you work a M-F, 9-5 and most of your friends also live in NJ. Depending on where in Tribeca, the ferry could be a pretty easy commute - it stops right near GS. If you're working later, on weekends, or want to go to NYC at night it gets dicey, which is why most people move into Manhattan after a year or two. If you miss the ferry you're stuck with car home (expensive and lots of time) or PATH train (schedules can be inconsistent at best)

My advice is to go on StreetEasy. look at every apartment south of Central Park (keeping it ~20-25 min commute) and eliminate based on 1. Places you absolutely cannot live in because they're terrible and 2. Places that would be an extremely long commute (parts of Murray Hill for example are beyond far from a subway station). You probably can't afford to live anywhere within walking distance of work, so pick the nicest place that's in your budget and not a huge haul to go to work.

There are only 100 studio/1br south of Central Park under 2k right now, so you can probably eliminate half of those quickly (no kitchen, shared bathroom, 7th floor walkup, just gross, can tell on map the subway will be very far) and narrow it down to 10-15 to look at. At $2k you're looking at a lot of places with serious issues so you're looking for the diamond in the rough that doesn't have that.

That seems like a lot of work I know, but if you say "I want to live in West Village because it's fun" and there's 3 shitty apartments there, you're not going to get very far. If you are open on location you can find a few places you like and then pick the best location.

Sep 13, 2021 - 6:43pm

Did you take Econ 101 in college? When there's a high demand and limited supply don't expect a price well below equilibrium.

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  • Analyst 1 in AM - Equities
Sep 13, 2021 - 10:14pm

having grown up in manhattan, you will be severely compromising on quality apartments with that budget. My suggestion would be to look further uptown. UES/UWS have suprisingly decent apartments in that range. Just pick and choose one near a reliable subway line (4, 5, D, A, 1, 2) that goes downtown.

Sep 14, 2021 - 2:29pm

Maybe not UES to Tribeca but possibly UWS red line would be ideal.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Sep 13, 2021 - 11:24pm

Or can go to Brooklyn…doubt you would find anything decent around 2K in Manhattan. I live in Brooklyn and live by myself for under 2K. Commute by train to Tribeca is 30 mins - door to door. Driving is about 20 mins.Β 

  • Analyst 1 in IB - Cov
Sep 14, 2021 - 12:02am

I lived in Jersey City and commuted to Midtown. 50-minute subway one-way commute. It was a drain on my energy, although I had late nights when I could Uber home, it didn't really make a difference.

I'd recommend JC. It's not far from Tribeca and it's a lovely place to be. You will have the Hudson river around. Absolute delight if you have a car. PATH is convenient too.

My after-tax take-home was about $4k/month, and rent was $1.5K/month. You can say I was frugal, but somehow I spent all my money regardless --- food, going-out, buying clothes, books, misc. stuff, paid sex from time to time, normal dates --- I could probably afford a $2.5K studio, but when you live in NYC it's really tough to save IMO.Β 

Sep 14, 2021 - 5:15pm

As someone who has never lived in Jersey, I would recommend not living in Jersey.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Sep 14, 2021 - 9:40pm

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