What Should Musicians Know About Moving To New York
This place is EXPENSIVE!
Living in New York City is expensive. Before people get a paycheck, people who live here are forking over some of the highest income taxes in the country. Couple that with some of the least affordable housing, and you have a recipe for doom if you aren’t prepared.
When I moved to New York City from Washington D.C. back in March of 1993, all I knew was that I wanted to play drums full-time. My bigger plan was to be a rock star and play Madison Square Garden, but I’d take making a living simply from being a performer. I still want to play MSG and be part of a popular band, but maybe for about a week—I’m not sure if I want the trappings of celebrity at this point in my life. I like to be left alone after my gigs—no time for groupies, cocaine, and parties at my age…I think.
After college, I had the skills to work in corporate America and used them to get temporary jobs to help support myself. One of my first jobs was working at JP Morgan right across the street from the New York Stock Exchange. I thought it was fascinating to be a part of the hustle and bustle of lower Manhattan back then. One downfall of that time for me was trying to participate in the Wall Street lifestyle but not having the means to keep up with the heavy hitters.
I wasn’t making much money at all but found myself eating out, buying nice suits and shoes, and seeing if I could fit it. I found myself off my path after a while. I was here to be a musician, not a titan of Wall Street. I slowed down my spending, especially after I found myself behind on rent by a few months. The crazy part of the story was that my rent back in 1993 was $450 a month! I couldn’t even afford that after all of my unnecessary spending. I had a pretty nice one-bedroom apartment in Jersey City—well before Jersey City, NJ, became what it is today.
I found myself in hot water after neglecting my financial obligations. I was dragged into housing court and eventually had to leave and move in with a roommate in Williamsburg, Brooklyn. It was good for me because I could reduce my spending and live within my means. Looking back at that era, I was moving into places that would eventually skyrocket in price after I moved out. Jersey City is an incredible place to live now, and Williamsburgh turned into hipster heaven in the 2000s. I should have bought a place back then. I would be RICH now.
I learned very quickly that New York City is expensive. The cost of living is high. Even though gas was $1 a gallon, the Holland Tunnel was $4, and my rent was low, I was only making $50 a gig back in the 1990s. There were times when I’d maybe make $75 or more, but I was struggling. I had a bit of a safety net with my day job income, but I was on a financial tightrope and almost fell off many times. It’s crazy that today, gigs still pay that amount. I don’t know how young people survive without having several roommates or thousands of dollars in the bank. In fact, you might expect to do exactly that if you come to the city now.
Working day jobs and hanging out in the city at night can be taxing. Luckily, I was young enough to handle the long hours, but it can wear you down if you don’t take care of yourself.
If you move here to be a full-time musician, you might want to have enough money saved up to survive for a few years. But, unfortunately, it will take that long to meet people and find the right circle of musicians you feel comfortable with. You’ll have to sit in with bands all over the city, you’ll have to hang and do plenty of networking, and you’ll need time to figure out how to make enough money to cover the cost of living in the 2020s
Even though rental prices may have decreased over the past year, the average rent in Manhattan was $3,475 in 2019, according to zillow.com. That’s a tad bit higher than the $450 I was paying twenty-eight years ago. The cost of transportation, utilities, food, clothing, and entertainment are factors one needs to know before deciding to move here.
Moving to New York City is stressful enough on its own with the sheer number of people and how fast everything moves. There is no need to add the additional stress of financial ruin. Make a financial plan, stick to it and after you get here, follow some of my suggestions about networking so you’ll be on the fast track to achieving your goals.
Clayton Craddock, the drummer of the hit broadway musical Ain't Too Proud. He earned a Bachelor of Business Administration from Howard University's School of Business and is a 28 year veteran of the fast-paced New York City music scene.
He has played drums in several hit broadway and off-broadway musicals, including "Tick, tick…BOOM!, Altar Boyz, Memphis The Musical, and Lady Day At Emerson's Bar and Grill. Also, Clayton has worked on: Footloose, Motown, The Color Purple, Rent, Little Shop of Horrors, Spongebob Squarepants, The Musical, Evita, Cats, and Avenue Q.
Follow him on Instagram, Twitter or read more on his website: claytoncraddock.com