The household income is $127,894 (is that before or after tax?) but the median is somewhere around $79-85k. Taxes are deducted from one’s paycheck as it’s done in all countries (so the US isn’t any different in that regard). If you live in NYC: how much actually appears in your paycheck when you minus taxes? Consider cost of living on housing, groceries, utilities, council or maintenance fees. Is $80,000 enough to pay those?

Rent is a joke, that’s not the only thing you’re paying. If you’re moving from another state: there’s a deposit too you have to pay on top of utilities (water, electricity, gas), council fees (like garbage collection), maintenance fees (landlord needs to retain upkeep). If you have a car: registration or license renewal (via DMV), gasoline and etc. The internet & phone cost money (LTE from the provider and internet connection from the ISP).

To break them down, is $80,000 per year (after taxes) enough to cover:

  • Council fees (i.e. waste & water services from NYC: garbage collection, recycling and water supply)
  • Maintenance fees (i.e. apartment needs upkeep, cost landlords money on repairs or renovations)
  • Utilities (i.e. using the stove, having a hot shower, turning the lights on: water, gas & electricity)
  • Rent (i.e. you pay $5000 a month for a studio apartment but it may cost more due to a deposit)
  • Groceries (i.e. are able to fill up the entire refrigerator that can last you weeks without installments)
  • Data plans (i.e. Verizon or AT&T charge you money for LTE and internet usage, it’s a subscription)