I lived for a year in Manhattan with a $50K salary. I wasn't living like a king at all and definitely not saving money, but still managed to have a lifestyle that I would consider comfortable and healthy. This was 2015.
Now, compare that to San Francisco. $50K it's basically one level above homelessness.
The high end of NY is also much higher than SF. NY is where the first $100M apartment is.
NY is as expensive on average but it's an average of a much wider and range.
Most things being sold for more than 20M are probably being sold for money laundering purposes. A more fair comparison would be looking at only apartments that people actually live in full time; a pied-à-terre isn’t really part of basic living expenses.
Chinatown, yes.
SF strongly limits fast food (which I find annoying). My suburb home town had more McDonald's locations than SF does.
I’ve even heard there is multiple of those in the city !
In the case of Google, they have shuttles in California, and I would personally take a shuttle over the subway any day.
I'm not living in the cheapest apartment I could find (tried that before and regretted it twice, both because it wasn't that cheap, and because it was horrible), and as far as I've researched I'd pay about the same as I would in San Francisco.
If you're crossing any bridges or tunnels, a 15 minute train ride could easily be 45 minutes in a shuttle or car.
I live in Boston and my company has shuttles to the suburbs as well. All of the Big4 do.
The East Village also goes all the way out to Avenue D, and the West Side, to 12th Avenue. These are transit deserts relative to the rest of the island, and priced accordingly.
The most that anyone pays is like 1.8k
I find generally fiscal rationality trumps not having a roommate.
If I need a roommate to make things work financially, I’m in the wrong job or the wrong city.
The reason for that is that places with a reasonable commute time to and from flatiron are really terrible below ~3k, by the standards of most places which are not NYC or SF.
I worked remotely for more than two years before that, so my tolerance for commute was quite low (my NYC commute is about 20 minutes on average, and when I first moved here, it was sooo long), and I was coming from a place where ~1K/mo can get you 3000 sq ft plus a basement and over half an acre.
If you would like a package room, that's extra. In unit washer dryer, that's extra. Doorman - extra. Reasonable commute - extra. AC - extra.
Even more money if you want to live in a fashionable neigborhood (Chelsea, Hell's Kitchen) or spitting distance from a university (Washington Square, Union Square, Morningside Heights) or both (St. Mark's)
Thats because rent numbers are based on the 1.34% rental vacancy supply on the market at that point in time, self-reported by landlords.
People very frequently move in with people and other arrangements. So less than half or even 1/4th of new renters any given year actually pay the "market rent".
I was talking to a guy the other day living in a sub400 sqft place in lower manhattan in a non-luxury unit paying $2.5k.
Only downside is that it was a semi-basement (Those apartments with tiny windows that are the same height of the street level---Probably a huge fire hazard). The plus was that I lived three blocks away from Central Park.
Some people said that I was lucky to find that place, but in my search I saw similar places that ranged between 1400 without utilities to 2000 in Upper East, some areas of Midtown and East Village. I even saw one guy renting a room for 700 in Upper West.
So yes, I was probably lucky to find that place, but not extremely lucky.
What would cost ~3500 in SF was more like 1500-2000.
NYC has much better transit - I could commute in from Park Slope to Manhattan and have a 1500 studio which would have been much much more expensive if I say, commuted from Mission to Civic center on BART.
It is significantly cheaper if you don't live in Manhattan, and transit allows that
Trains in NYC come much more often, later, and frankly Millbrae is no Park Slope ;)
https://www.sfchronicle.com/business/article/Google-s-Bay-Ar...
The Bay Area is of size 6,000-10,000 sq. mi. with a population of 7.7-8.8 million people[1]. NYC is of size 302 sq. mi. (yes, really! That's 20x-50x smaller) with a population of 8.1-8.6 million people[2]. Perhaps it's easy to underestimate just how much of a big world city NYC is and how varied its people and industries are compared to what they might be used to on the west coast.
1. https://en.wikipedia.org/wiki/San_Francisco_Bay_Area
2. https://en.wikipedia.org/wiki/New_York_CityIn other words, some people tend to think of NYC as "huge major East Coast city" and SF as "huge major West Coast city", but the sheer enormous density of NYC makes it actually on a whole other level than SF.
Chicago's urban population is 8.66m, and the urban area is 2,200 sq miles. I feel like I'm in a city here. When I go to West Coast cities I feel like I'm in a giant (sometimes quaint and charming) suburb. There's no density.