Say you're renting a 2 br in Brooklyn for 5 thousand a month

[cali]

That's still less than a quarter your $250,00 income. And yes, on that income you can buy a place in NYC. And of course, you could always commute.

The point is, you're not going to struggle to live comfortably on that income even in NYC.

People in the middle class are struggling. Most people in NYC earn nowhere near $250,000.

http://www.urbanedgeny.com/top-10-real-estate/nyc-affordable-neighborhoods
http://www.trulia.com/NY/New_York,5140,Inwood/
http://www.trulia.com/for_sale/Staten_Island,NY/

[hrmjustin]

1. Rents here in NYC are atrocious.

The bodegas around the courner pays 15,000 a month.

Rents in my building go from 1000 to 2500.

[cali]

2. And if you make an income of $250,000 you can rent a nice place

[hrmjustin]

5. Yes. Of course here in NY many people send their children to private school.

That cuts into their income but they still make a good penny.

I won't cry for them.

[snoringvoter]

3. so how far do you have to commute to get a decent rent on maybe a 1,100 square foot place

for someone who is earning $75,000 in income for a family?

[hrmjustin]

4. on the train about an hour.

[Motown_Johnny]

6. Poughkeepsie?

I lived just outside of it for a while when going to school (CIA Hyde Park). It was a very long time ago, but I don't remember the rent being that terrible.

[hrmjustin]

8. No i mean within the city.

Maybe a half hour outside of Manhattan.

[Motown_Johnny]

9. OK, that makes more sense.

I just didn't realize that it would take an hour on the train to do that.


My bad.


Sorry.

[hrmjustin]

10. Some people have 2 hour commutes within the city limits.

This is usually outer Queens, Brooklyn and Staten Island.

[hobbit709]

17. Come here to Austin if you want to talk high rent.

Rent for a 2 br apt is 2-3k a month.
Most jobs in this town are low paying service industry jobs.

[Punkingal]

7. Thank you for a dose of reality.

[Recursion]

11. Sure, it's objectively a lot of money

But there's so much less of it once I've spent it all.

Set your watches: cali and I agree.

[dsc]

12. so now the definition of wealthy is the ability to rent a two bedroom apartment

woo hoo I am wealthy, who knew those of us teaching in NC were wealthy and all of the 42 ranked salary in the US.

[Recursion]

13. In a large US city? Yeah. That's always been "wealthy".

There was a very brief time when a single (white male) earner could expect that in a Steel Belt city, but that was unusual, historically.

[cali]

14. Some people really don't get it

[Punkingal]

15. They don't get it on purpose...doesn't fit the narrative.

[HereSince1628]

16. It's all relative, isn't it based on the total package of the cost of living?

If you have what you need, some of what you want and a bit more... you really can feel relatively well off.

I think that's mostly where a sense of being middle class comes from... not so much an amount of money as a psychological adjustment to economic realities so your wants are fewer and you meet your needs with a bit of cushion.

[hill2016]

18. yeah you forgot about taxes