New York City has always been one of the most expensive places to live in the United States. The soaring cost of housing in the Big Apple leaves many renters feeling as though they have no choice but to seek out a roommate with whom they can split expenses. Just in 2017, a study showed that up to 40% of adults renting in the city were living with a roommate. There is even a special program for elderly renters which helps them share their homes as well as the costs. While many may not be fond of having to share their living accommodations, the real question is whether or not having a roommate is worth it?
To answer the question quite briefly, yes, it is! A report that was put together by SmartAsset shows that a one-bedroom in New York City runs roughly $2,915 a month, while a two-bedroom apartment runs $3,717 a month. This is quite pricey, but by having a roommate to split the cost with you save almost $12,600 per year. While it may not be the most comfortable living arrangement, it will undoubtedly help with the cost of rent throughout the year. In the end, you will save money!
Living with a roommate can also help in other aspects of housing, such as utilities. Electricity, cable, internet, and water are all utilities that are in addition to rental expenses. If you were to add these utilities on to the high cost of rent in New York City, it could get expensive very quickly. With a roommate, you have the option to split the cost of utilities right down the middle. Living in New York City can be quite expensive, but choosing to live with a roommate can make it more affordable.
A roommate doesn’t necessarily have to be a stranger. It could be someone you already know. Check with friends and coworkers to see who might be interested in a roommate. Having a roommate you’ve already established a relationship with can make the situation much easier for both of you. As long as your personalities mesh well together, the experience can be a positive one that benefits both parties.