But with 400k?
hmm i said this inec before so i will say it again
if you are EARNING 400 K that means you still gotta pay taxes and expenses - so youre keeping a lot less than 400k
if youre getting 400 K after taxes then you are living a pretty good life-and yeh you would definitely be middle or even upper middle in NYC ....
but if you are earning 400K more than likely you are living and working in circles where youre gonna pay on the high end not just on where you live but just on youre everyday .
if youre living in one of the established decent ( not high end just decent ) neighborhoods in one of the boros OR if you are living in Manhattan then youre paying some dough for either youre condo/coop ( which is usually in the 800K to 1.5 -1.7M- brownstones here go for at lest 1.75 for an empty shell in Harlem - in lower manhattan youre talking 3 to 5M ) for something family sized
so youre looking at about 8k plus just with mortgage and coop fee. or a mortgage of about 100 to a 150K a year.
youre kids may or may not be in a private school - dependant on what it is they are supposed to be doing.... and if they are in NYC and you are trying to get them into college that means everything they are doing will cost you a grip - tutors extra curricular activities and if youre really about that life and setting them up ..that means private school not public so thats another 60K out the window.
after your car ( if you have one ) and garage ( which youd need because parking your shit on the street is neigh impossible ) thats prob another 20K between insurance and garage space( monthly garage in manhattan can be 600- 800 a month )
so already before food before clothes or trips youre already in for 200K .....
so yeh on 400K coming in- you arent starving but you arent flossing like that and on 400K before taxes........
dont believe me about the housing prices in NYC? take a look like dude said at Zillow or any of the other RE sites and do a budget for the nice neighborhoods in Manhattan or Downtown Brooklyn and Williamsburg , Forest Hills Kew Gardens , or Pelham Bay and Riverdale in the Bronx
thats where the highearners live in NYC ...and if you are earning youre gonna live and be around other earners
...youre not living in the hood
this is the same shit in SF if you live in NorthBeach or Fishermans Warf or Nob Hill - in DC its Georgetown ...
there is a world of diff in earning 400k and taking HOME 400k in the major cities NY SF DC BOSTON.... but once youre out and in the rest of the country ( like say Nashville or Cleveland or Austin or Denver ) there isnt much differnce at all.
Obviously you shouldn't be a family of 4 on 110k
but whats quoted is that 110K is "middle" - so clearly given how expensive the city can be - 110K isnt middle .....