&gt; It is certainly &quot;doable&quot; to raise a family on $125,000 a year or less in NYC as evidenced by the fact that millions of people are doing so.<p>Sure, living in NYC for less than $125k is doable under the following circumstances:<p>1. You have a rent controlled apartment.<p>2. You are on welfare or other government assistance programs (which often come with public housing).<p>3. You have other income (like a trust fund).<p>4. You live in New Jersey, Long Island or Yonkers and commute an hour each way.<p>5. You pay the high rent anyway, build no savings because you&#x27;re spending $2,000&#x2F;mo on a studio you split with a roommate, regret living in NYC - and move away a few years later.<p>At least among my friends, NYC is a revolving door of &quot;Yeah, New York is awesome!&quot; and &quot;New York is awesome but I&#x27;m a successful 30-year-old professional can&#x27;t afford more than a studio&quot; to &quot;Fuck this place, I&#x27;m moving to Austin.&quot;<p>The only reason there are any poor people left in Manhattan is because the city essentially subsidizes them living there. I have nothing against that, but Manhattan real estate is unaffordable for mere mortals otherwise.