{"id":395988,"date":"2026-01-08T21:57:09","date_gmt":"2026-01-08T21:57:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/395988\/"},"modified":"2026-01-08T21:57:09","modified_gmt":"2026-01-08T21:57:09","slug":"26-year-old-lives-in-manhattan-on-53000-a-year-how-she-makes-it-work","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/395988\/","title":{"rendered":"26-year-old lives in Manhattan on $53,000 a year\u2014how she makes it work"},"content":{"rendered":"

This story is part of CNBC Make It’s Millennial Money series, which examines how people earn, spend and save their money.<\/p>\n

Living in New York City’s Manhattan borough on $53,000 a year isn’t easy.<\/p>\n

For Eileen Tyrrell, a bookstore manager who lives with two roommates in the pricey Chelsea neighborhood, making it work means saying no in a city seemingly built for spending. In Manhattan, a single adult needs about $68,000 a year just to cover basic necessities, before taxes, according to the MIT Living Wage Calculator<\/a>.<\/p>\n

“People ask me all the time how it’s possible to live here on that income,” Tyrrell tells CNBC Make It<\/a>. “I’m not going to lie. I’m not going to sugarcoat it. It’s hard, but it’s so worth it.”<\/p>\n

Eileen Tyrrell on the High Line, an elevated park in New York City.<\/p>\n

CNBC Make It<\/p>\n

For Tyrrell, 26, making the math work comes down to three things: having almost no debt, paying relatively low rent for Manhattan and keeping her everyday spending low.<\/p>\n

“When you think of New York, you think of all of these amazing experiences, and you think of going to a Broadway show, and then going to a club after that, and then doing brunch at an amazing restaurant the next day,” she says. “But when you live here, you can’t live like that.”<\/p>\n

Still, Tyrrell says she feels fulfilled by the life she’s built in New York, which includes work she finds meaningful and time spent volunteering in her community.<\/p>\n

A closer look at how she keeps costs low<\/p>\n

Here’s a look at Tyrrell’s expenses for September 2025, which were a bit higher than usual\u00a0because she was catching up on some bills.<\/p>\n

Zoom In IconArrows pointing outwards<\/p>\n

Christina Locopo | CNBC Make It<\/p>\n

Tyrrell usually spends about $3,000 a month on expenses, including rent, utilities, insurance and transportation, with housing making up the largest share of that total.<\/p>\n

She pays $1,566 a month for her share of a three-bedroom apartment in Manhattan’s Chelsea neighborhood, which rents for a total of $4,698 per month. While that may sound steep compared with much of the U.S., similar units in her neighborhood list for around $7,000 a month.<\/p>\n

In addition to living with roommates, Tyrrell lives in a rent-stabilized apartment, which means annual rent increases are limited under city rules. Tyrrell moved into the unit in 2022 after a friend invited her to join the lease \u2014 something she says she felt lucky to have.<\/p>\n

“Having a rent-stabilized apartment means we’re never going to have the sticker shock of a huge rent increase,” she says.<\/p>\n

Outside of housing, Tyrrell relies more on responsible spending habits than a formal budget. She aims to keep grocery costs under $300 a month and shops mostly at Trader Joe’s. She dines out rarely and sticks to inexpensive options when she does, like breakfast sandwiches from her neighborhood deli or a $6 Dunkin’ combo.<\/p>\n

Her discretionary spending is typically under $400 a month, with about $100 of that going toward donations. To help keep costs low, she takes advantage of couponing and rewards programs at local retailers.<\/p>\n

“I just don’t spend a lot of money,” she says. “All of my furniture and most of my possessions are things that I either brought with me from college or are hand-me-downs that friends gave me.”<\/p>\n

‘I love my life so much’<\/p>\n

Tyrell’s frugality also extends to how she spends her free time. She finds enjoyment in low-cost routines, like walking around New York, meeting friends for coffee instead of drinks and or watching TV at home.<\/p>\n

“I had to train myself to find hobbies and interests that weren’t related to spending money,” she says. “And that really helps when you’re living on this type of budget.”<\/p>\n

Eileen Tyrrell in the Chelsea neighborhood of New York City.<\/p>\n

CNBC Make It<\/p>\n

Tyrrell says the hardest part of living on a modest income in New York isn’t tracking expenses \u2014 it’s resisting the constant pull to participate in the city’s social life.<\/p>\n

Learning to opt out of those experiences was an adjustment, especially when she first moved to New York in 2022, but one she’s grown more comfortable with over time.<\/p>\n

“It’s OK that I’m living on this tight budget,” Tyrrell says. “Where I’m at right now is so rewarding and so meaningful. I have a job that I love, I have a life that I love and the financial stability is not quite there. But for now, it’s a tradeoff that I’m comfortable with and willing to make because I love my life so much.”<\/p>\n

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CNBC Select is editorially independent and may earn a commission from affiliate partners on links.<\/p>\n

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