What $3,000 Per Month Gets You In New York City

Many people dream of moving to New York City, but where are you going to live?  In the most expensive rental market in the country, you'd better have a decent income to be able to afford even the most basic apartment in the city, or plan to live way outside of town. Even if you have the cash, be prepared to give up some of the basic things that are taken for granted everywhere else, such as outdoor space, parking, and guest bedrooms. Using a budget of $3,000 per month (quite low for NYC), here are some options that you could rent, just to give you an idea of what to expect when beginning your search.

1. Clinton 1-bedroom: $2,500/month
Coming in well below our budget is this Clinton apartment with beautiful city and river views. The apartment has oak and tile floors, and a very nice kitchen with energy star appliances. Though the apartment itself is quite compact, the building is full of amenities that include a health club, club room, and a rooftop deck.

Source: Trulia

2. Gramercy studio: $2,795/month
Although it is listed as a one-bedroom, this apartment is actually an alcove studio, which means it does not have a separate bedroom, but the sleeping area is separated from the living area (due to the shape of the apartment). The apartment is nicely updated, with a full marble bathroom and granite countertops in the kitchen, and has plenty of natural light from its oversized windows.

Source: Trulia

3. Midtown 1-bedroom: $2,995/month
Right at the top of our budget, this apartment is close to all of the action, and is just a block from the Hudson River. Although it is not spacious, at least by non-city standards, this apartment is a true one-bedroom and is nicely updated with granite counters, stainless steel appliances, and a bright and beautiful bathroom. The apartment is located in a building with a full-time doorman and a community fitness center.

Source: Trulia

4. Harlem "mansion": $2,900/month
I use the word "mansion" because your rental dollars go so much further in Harlem than in most of the rest of Manhattan. There are some very nice areas of Harlem that are definitely worth a look, especially if you need extra storage space or plan on having frequent guests. 

This 2-bedroom example is on 104th Street, and is just a few blocks north of the much more expensive Upper East Side neighborhood. The apartment is the entire third floor of a converted townhouse and features a large (even by real-world standards) kitchen and a gorgeous bathroom. The apartment is available fully furnished and even has laundry facilities in the unit.

Source: Trulia

5. Midtown West large 1-bedroom: $3000/month
Located in the "Hell's Kitchen" neighborhood, this apartment is just a few blocks from Times Square and the Broadway theater district. The apartment is fully renovated with beautiful hardwood floors, granite counters and stainless appliances in the kitchen. The oversized windows make for great city views, and the building has a very impressive list of amenities including a fitness center, basketball court, driving range, sundeck, business center, and more. This is a much busier area than the other apartments on this list, but for people who want to be able to just stroll downstairs and be right in the middle of everything the city has to offer, this is tough to beat!

Source: Trulia

High yields for high rises
One of the dirty secrets that few finance professionals will openly admit is the fact that dividend stocks as a group handily outperform their non-dividend paying brethren. The reasons for this are too numerous to list here, but you can rest assured that it's true. However, knowing this is only half the battle. The other half is identifying which dividend stocks in particular are the best. With this in mind, our top analysts put together a free list of nine high-yielding stocks that should be in every income investor's portfolio. To learn the identity of these stocks instantly and for free, all you have to do is click here now.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2850251, ~/Articles/ArticleHandler.aspx, 8/31/2015 6:09:13 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Matthew Frankel

Matt brought his love of teaching and investing to the Fool in order to help people invest better, after several years as a math teacher. Matt specializes in writing about the best opportunities in bank stocks, real estate, and personal finance, but loves any investment at the right price. Follow me on Twitter to keep up with all of the best financial coverage!

Today's Market

updated Moments ago Sponsored by:
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASD 4,776.51 -51.82 -1.07%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes