Cost of living.

Los
Sat, 24 Mar 2007 16:53:17 +0000

I’ve heard that a $100k salary in NYC is equivalent to around $50k in smalltown America. Granted, some things aren’t quantifiable, but for the sake of simplicity, what do you think of this comparison?

Let’s say, between Jim ($50k in a town) and Bob ($100k in NYC), with both living typical non-extravagant lives, how much would each have in savings after a year?

I have seen that the typical 1BR apt in NYC can easily cost $2000/month. How does a low wage earner live? I’m assuming places like gas stations and small restaurants don’t pay more than $10/hr, in NYC?