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gamerdudeNYC t1_j083njw wrote

I have a 1bd/1ba for $3100 and $250 parking I make $160k

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Vertigo963 t1_j08ags1 wrote

You shared highly personal information that is relevant to OP's question and your reward was a downvote (not from me). Isn't reddit great?

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DontBeEvil1 t1_j09lo1u wrote

$3100/mo & $160k/yr isn't needed to live comfortably in a Studio in Jersey City (nor should it be), so maybe that's why someone downvoted?

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mickyrow42 t1_j0ad47o wrote

160k is absolutely nothing to shrug at but for what you’re dropping 3350 just on your place that can’t be leaving much wiggle room or savings per month.

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gamerdudeNYC t1_j0bp0xm wrote

Not saving as much as when I had a COVID rate of $2450

But I feel like I can’t buy a place until another housing market crash anyways lol

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paperkutt247 t1_j08xpry wrote

Where's that apartment, at the waterfront

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gamerdudeNYC t1_j091f66 wrote

Liberty Harbor… outdoor parking was $175 but a solid 10min walk so I upgraded to the garage for $250… you’d think it would be the lot next to the building but of course it wasn’t lol

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munsuro t1_j07fm7n wrote

Depends on which area of JC and which building. With today's prices, I would say if you're alone and are looking east of Grove PATH, $100k minimum.

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Cuprunnethover2022 t1_j07rv4n wrote

This depends on if it is in a luxury building or a brownstone, and what neighborhood.

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averysillyman t1_j07gkoc wrote

The basic rule of thumb that a lot of people/landlords use is that your rent should be no more than 30% of your gross income. So if you're looking to rent an apartment that costs $3000/mo, you would ideally want to make $120k or more.

You can adjust this number upwards or downwards depending on your personal situation, but it's a good starting point. For example, if you have student loans you need to pay off you might want to adjust the maximum you are allowed to spend on rent downwards. Likewise, if you don't have many other expenses you might be willing to spend a bit more on rent than is generally recommended.

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fulanita_de_tal t1_j0a176j wrote

30% of gross if you’re more chill about it, 30% net if you wanna play it on the safer side.

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tollyda t1_j095n9b wrote

IMHO - That's typically what a mortgage underwriter does. I don't think that's typical to landlords.

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objectimpermanence t1_j09wfa9 wrote

True, but OP asked what it takes to live comfortably.

Personally, I wouldn’t consider spending 30% of your income on rent to be a comfortable lifestyle, but that’s subjective.

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meywd t1_j0bcx0k wrote

Based on the median household income in NJ I am not sure how people can afford rent in all of North Jersey

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kjrst9 t1_j0c5vvb wrote

Nowadays they do. I got a new place this past spring and not only were they doing it, but they were requiring an even better income ratio than before.

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HappyArtichoke7729 t1_j07hyim wrote

45 - 50x the monthly rent, and your income going up 20% per year just like the rent does. That last part is important.

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jersey-city-park t1_j07ja3t wrote

About three fitty

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Blecher_onthe_Hudson t1_j07y8qu wrote

You can easily find a place for 1/3 your gross rent in the low $70ks, that is around $2k/mo. I have a 1br DT listed right now, and just leased a 2br in the Heights in that range. Don't listen to the 'luxury' snobs about having to live 'East of Grove'.

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fulanita_de_tal t1_j0a0wr1 wrote

Oh god is that the “border” now? NGL I’m kind of a hoity toity bitch but I would absolutely live east of grove lol

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yayforhooray t1_j0ej4co wrote

I always thought coles was “the border” (which is ridiculous).

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russokumo t1_j0bbe4k wrote

It's unfortunate but if you go 4 blocks west of Grove, on Newark the area starts looking noticeably more run down.

I kinda regret not getting a $1700 one bedroom walkup within a 8 minute walk of Grove Street during covid. Instead I went for something close to double the price 2 years later in one of the newer high rises in the NYC area. But I forget to lock my door all the time so the peace of mind is worth it l.

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Vicarious-Lee-Eye t1_j08v3cr wrote

I rent a sweet brownstone apartment on jersey ave with a beautiful back yard with and a private driveway modern appliances and original wood floors and brick. I pay $1,500 utilities included and I make less than 60k a year. Biggest plus is that my neighbor keeps her shades up 24/7

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Rube777 t1_j097v6c wrote

Sounds about right. It’s a total myth that every apartment downtown is $3k a month, or even $2k

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pixel_of_moral_decay t1_j09x1os wrote

Yea, but the smaller ones rented by an owner aren’t in the big website listings so they don’t get lumped up in the averages they get published.

Meanwhile big companies will list 50 units a month across their buildings on a dozen websites via an automated system.

People insist there’s some central registry of rents, but there isn’t. All these averages are based on collected data. Nobody has it all. They’re all biased to their collection methods.

Quite a few smaller landlords refuse to pay to list an apartment and will stick to word of mouth, Facebook, a sign in the window etc.

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Rube777 t1_j0amcop wrote

I’m well aware… there’s no contradiction here

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Morrigan-27 t1_j0beqy0 wrote

Maybe you can find cheaper than 3k downtown, but the cheaper ones don’t have things like doorstaff so packages don’t get stolen from your doorstep, on-site maintenance, in-unit laundry, dishwasher, a view that isn’t from a basement with burglar bars, etc., so depending on the OP’s definition of “comfortable” will determine what salary they need.

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kjrst9 t1_j0c6tpz wrote

Downtown package theft is rare and most buildings have a vestibule for packages. Some people also find no benefit to a door man and some find it intrusive. Also, for those with a vehicle, doorman buildings typically have a garage which is an added cost since they are not allowed to use on-street parking.
As an example, I have a dishwasher, in-unit laundry, 120sf deck, central air, 2nd floor of a 3-unit brownstone and I'm paying a fraction of what you'd pay in a doorman building. And no I didn't lock in my rates during or before covid, I moved in this past spring.

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JodyMcAllister t1_j0bol8v wrote

The cheaper ones you've seen, maybe... I live on Newark Ave (btw. Jersey & Barrow), not a luxury apartment, but I have a w/d in unit, central heat & air, lots of space, and a small secure foyer for packages. I pay less than $2k. About a year ago a broker I know was trying to rent a 1BR above the Pet Shop for $1800 (definitely not luxury). But there are deals around, have to look in the right places

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9wizz9 t1_j09avt9 wrote

I lived comfortably in the heights with a 65k salary. Palisade ave 1BR

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DJfetusface t1_j0c13z1 wrote

Does your building have any openings?

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limer t1_j0jis6m wrote

Of course. How else would you get inside?

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GeorgeWBush2016 t1_j0a7gqt wrote

a lot of these answers suggest that some people's concept of life in JC does not extend beyond living in a high rise downtown

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Blecher_onthe_Hudson t1_j0ag2d0 wrote

Welcome to r/JerseyCity! Someone should do a parody of the classic west view New Yorker cover with Marin boulevard standing in for 9th Avenue! Journal Square would pop up like Chicago with Newark barely visible on the horizon.

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datatadata t1_j088t02 wrote

several factors come into play

  1. What does "living comfortably" mean to you?
  2. What kind of studio apartment & in what neighborhood?

I think people typically recommend your monthly rent being no more than 30% of your monthly income post tax.

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harmeeetk t1_j09lcyv wrote

I live in a shitty old building in the heights, 1 bed 1 bath for 1700

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Especiallymoist t1_j086cho wrote

You’re gonna have to help us out a bit. Where do you want to stay? Do you need a building with amenities? How far from public transit do you want to be? If you want to live in the fancy schmancy downtown area, I don’t recommend having less than a $100k salary. If you want to live a bit further from the train, no amenities, not professionally managed and all that, you can get away with a $50k salary. Anything lower than that, you’ll likely have to sacrifice some things.

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MailenJokerbell t1_j08baf8 wrote

Thanks y'all for telling me (not OP) that I won't be able to live alone any time soon.

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nynj25 t1_j09044r wrote

It all comes down to what your idea of comfortable is as well as what your budget is. A studio in downtown will prob run you close to 2k a month. Parking is also extra unless you get a permit for street parking. I personally found a street where I only had to move my car twice a week and since I worked from home, I made it work. Anyways, I’d say follow the 1/3 of your pay for rent rule to be safe.

I know it was once 1/4 but let’s be real, that can be tough.

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burlybroad t1_j09cw66 wrote

I live in downtown historic village in a studio, rent is 2,000 and I make 75k from my main job but I also waitress on top of that. So whatever that adds up to lol. But to be fair I also have a fuck ton of debt so I never feel comfortable lolol

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Strikescarler51 t1_j0b3900 wrote

I don't live downtown like the rest. I live a 10 min walk to the liberty science center. 78k salary, $1800 rent for 2 bedroom 2 bathroom (which I live by myself) and parking is open parking around communipaw. So I don't pay it. It's just street parking. It's possible to find things not luxury. But if luxury is what you seek, expect an arm and a leg in unrealistic standards for studio prices and bedrooms based on proximity to NYC.

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Laraujo31 t1_j07nc5q wrote

Since you are looking for a studio i will assume you are single. If your looking to live in downtown or the heights 100k. With some penny pinching you could get by with 90K. If your looking at other parts of the city then you should be ok with 60K to 70k. Obviously, i have not taken into account student loans or any other things that may affect you finances so that figure may have to go up.

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Javesther t1_j09s7ea wrote

Studio apartments vary neighborhood to neighborhood. So it depends in what kind of area you want to live in. Remember, Jersey City is New Jersey’s second largest city population wise , in the future it may surpass Newark.

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thisoneagain t1_j0a6w43 wrote

I lived modestly comfortably in a Journal Square studio from 2018-2021 on $55k, BUT I did move out due to my roommates, who were a variety of species of vermin - so I was probably on the lower end of the spectrum.

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LiveTheLifeIShould t1_j08m8ya wrote

Heard Hoboken has some sweet apartments. Even comfortable living studios.

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PM_ME_YOUR_NOODLEZZ t1_j094dsg wrote

100k at the min if you want to live in a doorman building

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Morrigan-27 t1_j0bdpku wrote

When I signed my lease, the building manager needed my pay stubs to verify proof of income and they would not approve my application unless I made 40x the monthly rent, though some buildings have different requirements, but usually 35x monthly rent and above. So if you want to live in a luxury building like many of those downtown, you probably won’t get approved for a new lease without making at least 110k and then you need to factor in your debt responsibilities, if you have a car, and other lifestyle habits before determining what “comfortable” means to you. If you go farther west from downtown and have no debt and rarely go out, then you may be able to be comfortable at 80k depending on rent and lifestyle standards. But lots of variables here.

Disclaimer: This can be a much longer conversation, my comment is the highlights version of budgeting in urban areas.

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doglywolf t1_j0a48i2 wrote

Rent should be 25% of your take home income .

So at 2400 that 28800 for the year *4 = $115,200 take home. or depending on your accountant about 150k Base salary.

​

People live tighter but the suggested to live comfortably is 25% of income.

​

Most people in their early 20s do it with less to enjoy the "lifestyle" for a few years . But should not really exceed 50%

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Blecher_onthe_Hudson t1_j0afmjt wrote

I have actually never heard that '25% of net' number, far more commonly used is 1/3 or 30% of gross income.

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jdbdjdndj1887 t1_j0bpbux wrote

2bed/2bath on Van Vorst Park. $3200/month.

I make $330k/yr.

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tradeintel828384839 t1_j08rah7 wrote

Look into 3 journal square I can give you a referral for $500 off if you want

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mad_dog_94 t1_j0alv1g wrote

at minimum i would say 125k+ because studio average here is like 3.1k or something stupid high like that

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SpaceGhost113 t1_j0cs60k wrote

I want to own a home and possibly rent out an apartment in a building. What salary do I need in order to do this ?

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creeky123 t1_j08el3b wrote

~150k base compensation

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