How much is too much?
Moving to Manhattan soon and am looking at ~$3.2k monthly rent (if I am lucky) for a studio. Is this market?
Can’t stand living with other people.
Thanks
Trending Content
Career Resources
WSO Free Modeling Series - Now Open Through
May 31, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
BUMP
Bumping again
Based on the WSO threads discussing NYC housing, a monthly rent of around $3.2k for a studio in Manhattan can indeed be considered within market range, especially in more central or desirable areas. Here's a breakdown of what you might expect:
Location Variability: The cost can vary significantly depending on the exact location within Manhattan. Areas like Tribeca or the Financial District might command higher prices.
Comparison with Other Areas: As per the discussions, studios in areas like the Financial District or Greenwich Village often go for around $3,000 or more. So, $3.2k, while on the higher end, is not uncommon for Manhattan.
Personal Space Priority: Since you prefer living alone, investing in a studio, despite the higher cost, aligns with your personal comfort and privacy needs. This is a common sentiment among those who prioritize having their own space in the city.
Market Trends: The NYC housing market, particularly for areas within Manhattan, has been known for steep prices. Given the ongoing trends and the premium on privacy, your budget of $3.2k for a studio is reasonable.
If you're set on not having roommates and wish to stay in Manhattan, your budget does align with the current market expectations for a studio. However, always ensure to check the latest listings and perhaps negotiate on rent where possible, as the market can fluctuate.
Sources: Millionaire by 30, Managing Your Money - Building a Personal Financial Model, Buying an Apartment in NYC, Best neighborhoods to live WITH GF in NYC (and timing) - 1st year IB Analyst Midtown Summer 2019, NYC Analyst Housing Meltdown
Voluptatem qui hic quisquam sapiente. Unde nihil explicabo id voluptatem est totam. Sapiente illum esse iusto et vel voluptas perferendis. Velit et beatae quia blanditiis. Et accusamus ut quod nostrum et excepturi et.
Provident odio exercitationem ab nisi eaque commodi officiis. Enim tempora vero dolores dolor.
Nisi rerum nesciunt quam ducimus. Mollitia at nostrum nihil placeat officia voluptatum et. Praesentium saepe iusto et. Vel suscipit et a deleniti neque officiis.
Voluptatum neque et quam. Enim earum molestiae inventore est praesentium est. Officiis repellat ut ullam corporis magni debitis sapiente. Numquam et necessitatibus voluptatem maiores recusandae perferendis omnis. Facilis veritatis consequatur perferendis ut dolorum sequi. Quidem beatae aut omnis facere odit dolorem quo. A voluptatem maiores sed et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...