Could A 20-Something Waitress Afford An NYC Apartment?
Popular TV homes were more realistic looking back in the 80s and 90s but that doesn’t mean the characters of these popular sitcoms would have been able to afford their homes.
In reality, the chances of many of them affording their monthly payments are pretty low.
For instance, what gives with Monica and the Friends gang living in that Greenwich Village apartment? On Chandler’s salary, they should be living somewhere in Jersey.
This is part of a three-part series about the monthly mortgage payments of famous TV show homes at . The average mortgage rate for the year each show started is used in each calculation. It is also assumed that each character put down 20% at closing.
Part two of this series discusses popular TV sitcoms.
Verify your new rate1. Friends
Image source: Google Maps
When the show first aired, Monica was working as a chef, making an estimate of $60,000 annually and Rachel was working as a waitress bringing in an annual income of $23,000. There is no way these two would be able to afford their monthly rent. While their professions change throughout the show and each character gets incremental promotions, it is still unlikely that rent payments would be affordable.
The median rent in Greenwich Village is $5,100 a month. Together, Rachel and Monica are bring in $2,075 a month, which is below the rent price. This isn’t even including cost of utilities or life’s basics like food.
Their monthly rent must be how these 90s beauties stayed so thin for ten years.
- Monica’s Profession: Chef
- Rachel’s Profession: Waitress
- Monica’s Salary: $60,000
- Rachel’s Salary: $23,000
- 1994 Average Mortgage Rates: 8.38%
- Monthly Rent: $5,100
- 20% Downpayment: Not required since they were renting
- Location: 90 Bedford St. New York, New York 10014
2. Family Matters
Ok let’s go way back. The Winslows lived in an expensive area of Chicago. They may have had difficulty coming up with a down payment. The downpayment alone would have been more than half of what Carl Winslow makes in a year.
The Winslows would be able to afford monthly payments, seeing that Carl makes around $11,000 a month as a police captain. After paying for their monthly mortgage payment of roughly $5,000, there is still plenty of money for the family of five to live off of for a month as well as pay any additional expenses.
It is possible that Carl was able to save enough to afford this home.
- Carl Winslow’s Profession: Police officer captain
- Salary: $136,170
- Average Mortgage Rates in 1989: 10.32%
- Monthly Payment: $5,358
- 20% Downpayment: $125,032
- Estimated Price: $625,161 on realtor.com
- Location: 1516 W. Wrightwood Ave. Chicago, IL 60614
3. The Wonder Years
Image Source: Google Maps
Jack Arnold works as a defense contractor for NORCOM who is making an average annual salary of $63,000. Jack is the only source of income for the family and averages a monthly income of $5,250, which is slightly higher than monthly payment.
Plus, Jack would have had to have had a lot of money saved in order to afford his downpayment. Since his wife does not work outside the home, this would have been unlikely.
- Profession: Defense Contractor
- Estimated Salary: $63,000
- 1968 Average Mortgage Rates: 6.53%
- Monthly Payment: $4,990
- 20% Downpayment: $161,888
- Estimated Price: $809,439 according to realtor.com
- Location: 516 University Ave. Burbank, CA 91504
4. Everybody Loves Raymond
Image Source: Google Maps
Ray works as a sportswriter for Newsday and is making an estimated salary of $40,000, which is is on the higher end for sportswriters. If Ray had money saved up or received a downpayment gift from a family member, he may have been able to make a 20% downpayment but he likely would have gone for a such as FHA. His monthly income is $3,333 which is less than the monthly payment, making it impossible to afford.
Everybody loves Raymond, but his mortgage lender wouldn’t.
On top of that, he provides the only source of income for his family of five. Not to mention the other monthly debts he will have as well such as car payments and credit card debts.
- Ray’s Profession: Sportswriter for Newsday
- Estimated Salary: $40,000
- 1989 Average Mortgage Rates: 10.32%
- Monthly Payment: $3,506
- 20% Downpayment: $83,694
- Estimated Price: $418,468 according to realtor.com
- Location: 135 Margaret Blvd. Merrick, NY 11566
5. Roseanne
Image Source: Google Maps
Roseanne takes place in fictional Landford, Illinois, however the real home can be found in Evansville, Indiana, which has similar standards of living to Landford.
In the beginning of the series, Roseanne works at a store called Wellman Plastics. The average annual salary for a store clerk is $30,700, which is a safe estimate for Roseanne’s income. Her husband, Dan Conner, works as a construction worker, making $38,202 annually.
Together, the Conner’s have a combined income of $68,902, which would be more than enough to cover monthly payments as well as any additional expenses the family had.
- Roseanne’s Profession: Employee at Wellman Plastics
- Dan’s Profession: Construction
- Average Mortgage Rates in 1988: 10.34%
- Monthly Payment: $1,133
- 20% Downpayment: $25,005
- Estimated Price: $125,027 on realtor.com
- Location: 619 South Runnymeade Ave. Evansville, IN 47714
What Are Today’s Rates?
Today’s rates are much lower than they were at the time many of these TV shows first aired. Mortgage rates near all-time lows and home buyers are able to afford a home, even without the high incomes of some of these television characters.
Get today’s live mortgage rates now. Your social security number is not required to get started, and all quotes come with access to your live mortgage credit scores.
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