Could a dentist afford to live in Manhattan?

[BarcelonaFan2]

say his aspirations were to live on the upper east side.

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[jeffk805dent]

@fancymylotus can answer this

 

[bjpenn]

Sure, but you won't save much,if anything at all

 

[THS]

Afford to live?
Probably.

Afford to live like a dentist?
Probably not.
After student/practice loan repayment and living expenses, you may not have too much left to save or enjoy. Don't forget that much more of your practice's revenue will be going towards marketing and lease than in a less saturated area.
Nobody here can tell you whether or not it's worth it. If you see that living there outweighs possibly up to 100k-200k of potential income, then go for it.

This is all speculative, and if anybody practicing in NYC can chime in, you'll get a much more accurate (though anecdotal) answer. You'll need to talk to several dentists in the area to get an idea.

 

[deleted158872]

I've heard New York City is saturated?

 

[BarcelonaFan2]

well what kind of lifestyle are we talking about a dentist that wants to live in Manhattan then?

 

[jeffk805dent]

well what kind of lifestyle are we talking about a dentist that wants to live in Manhattan then?

this is really subjective imo. To some, lifestyle quality is measured by how many 5 star nightclubs/bars one can go in a week. To others, lifestyle quality is measured by what floor you are on in a high-rise building and what seats you go to during an event at the Madison Square Garden.

 

[Incis0r]

this is really subjective imo. To some, lifestyle quality is measured by how many 5 star nightclubs/bars one can go in a week. To others, lifestyle quality is measured by what floor you are on in a high-rise building and what seats you go to during an event at the Madison Square Garden.

Agreed

 

[toothdriller2k17]

the going rate here is around like 500 a day and most gigs are part time. if you're single, you can live comfortably without being too obnoxious.

 

[jeffk805dent]

the going rate here is around like 500 a day and most gigs are part time. if you're single, you can live comfortably without being too obnoxious.

haha I think you meant too prodigal.

 

[BarcelonaFan2]

We're not talking about living like a rockstar or pro athlete here, would love to hear from dentists in that area though.

 

[bjpenn]

My classmate made 100k last year in nyc. Rent is easily 1500/month. Take out the extra taxes from being in nyc, and deduct student loan,etc.

 

[Faux]

Really just depends on how much your school loans are.

 

[BarcelonaFan2]

My classmate made 100k last year in nyc. Rent is easily 1500/month. Take out the extra taxes from being in nyc, and deduct student loan,etc.

In manhattan we're talking at least 3000 a month

 

[tooth knockn]

In manhattan we're talking at least 3000 a month

In Manhattan a simple extraction can go up to $500+

 

[jeffk805dent]

so a while ago the OP asked about dentist living in Manhattan. I found this link that could help (I believe the prices were pulled from US Census and Trulia, which generally to my experience has been pretty accurate. I might add that more amenities in better than average buildings will cost a few hundred more (duh).

Hope this partially helps OP

 

[Aznfarmerboi]

so a while ago the OP asked about dentist living in Manhattan. I found this link that could help (I believe the prices were pulled from US Census and Trulia, which generally to my experience has been pretty accurate. I might add that more amenities in better than average buildings will cost a few hundred more (duh).

Hope this partially helps OP

Those rent prices don't seem realistic.

I think they factor in subsidized rent and rent control. There are some apartments that costs 100 to 1k to rent... but you have no chances of getting it. The rent prices might also look low because it includes "room/apartment sharing, so 3 roommates sharing a 3 bedroom... for 2k each.

Most studios rent for 3k. For Soho- spring street, average rent is 6k for a 1 bedroom versus 2.6k shown on map. Another way of looking at it is if a 1 bedroom condo (bc most co-op dont allow renting) starts at 1 million, and maintenance cost 1k/month, how can a landlord make money renting it out for 2k...

 

[jeffk805dent]

These rent prices don't seem realistic.

I think they factor in subsidized rent and rent control. For example, there are some apartments that might cost 100 to 1k... but you have no chance of getting it. Other rent prices may include "room/apartment sharing, so 3 roommates split up a 3 bedroom... for 2k each.

3k is realistic for studio pricing in most areas. For Soho- spring street, average rent is 6k for a 1 bedroom versus 2.6k shown on map. Another way of looking at it is if a 1 bedroom condo (bc most co-op dont allow renting) starts at 1 million, and maintenance cost 1k/month, how can a landlord make money...

well in that case thank god I dont live in NYC.

 

[setdoc7]

I live in Manhattan. UES. If you are coming out of school with the massive debt you all talk about, Manhattan will be a difficult choice due to the hi rents and cost of living. On the other hand, if you land a gig in a good office, you can make far more than the $500/day mentioned, but those jobs are few and generally require more experience. Between student loan debt, hi cost of living, and the inevitable tax burden of NYC, I do not see how it will be reasonable to live there in the beginning. Maybe a few years down the line.
Start calculating how much you will need to service your debt, pay rent, eat, cell, etc. Add this up. Dont forget professional expenses like malpractice and disability, and the all important health insurance. Figure in about a 35% tax burden. Then you will know how much you need to make. Then find a job or jobs where it adds up. If you make more, you can save. If you make less.....well.