Devonte Duncan on Living Costs as a Software Engineer in NYC

Brooklyn software engineer Devonte Duncan shares his journey and struggles with NYC’s rising living costs while earning a six-figure salary.

Devonte Duncan, a 27-year-old software engineer based in Brooklyn, New York City, openly shares his journey from college dropout to securing a six-figure salary amid New York City’s soaring living costs.

Duncan recalls the excitement of his first job, where he was making over $100,000 a year. In his early days of earning, he was known for treating friends to meals, often covering bills of $300 for large groups. However, he soon realized that this kind of spending was not sustainable with his current financial responsibilities.

Today, Duncan earns an annual base salary of $159,000, amounting to approximately $13,250 a month before taxes. After all deductions, his take-home pay is around $7,752. Yet, with the cost of living in Brooklyn—where his own apartment’s rent has risen from $900 in his family’s first apartment to $3,450 today—he feels the financial pressure just as any other New Yorker would.

To supplement his income, Duncan runs a YouTube channel, “Dose of Devy,” though it has seen fluctuating success. At its peak, the channel earned him about $400 monthly, but this has dropped to around $100 due to irregular postings.

Duncan reflects on his early financial misunderstandings, particularly regarding credit scores and loans, largely due to a lack of guidance in his family, who are Caribbean immigrants. After three years as a physics major at City College, he left school because he needed a clearer path, which led him to the Marcy Lab School, a software engineering fellowship where he honed his technical skills.

Despite the challenges of dropping out, he found success quickly, securing a job that was close to six figures right after graduation. Yet, the pressure from his family to obtain a degree still looms. He plans to focus on increasing his income rather than returning to school.

In terms of expenses, Duncan has various costs including a $450 monthly car payment for his Subaru Outback, $208 for insurance, and $90 for gas. He also spends around $50 on MTA fares when he travels into the city, opting against more costly street parking or congestion fees.

Food expenses bring another layer of complexity to his budget. He allocates about $600 a month on food, dividing it into grocery shopping and dining out. With a new relationship, Duncan finds cooking at home has been cheaper while allowing meals that last several days.

His hobbies, including building a civic dashboard named OpenBorough.NYC, cost him about $300 monthly, while video games have taken an additional $300 over the past three years. Duncan reveals he does not have a strict travel budget but spent approximately $3,000 on a recent two-week trip to Japan.

Debt has been a significant issue. Past decisions led him to accumulate around $30,000 in credit card debt. He took out a debt consolidation loan with a lower interest rate to manage this, realizing the importance of financial discipline. Now, he saves 10% of his salary monthly, translating to about $700, and aims to reach a debt-free status within two years.

Moving forward, Duncan remains realistic about saving; he emphasizes the rising costs of living compared to wage growth, indicating that he intends to invest in himself and his projects for long-term success.

Ultimately, he weighs living in New York against the costs involved and feels it depends on individual circumstances. Although he has curtailed some previously lavish outings with friends, he acknowledges the unique challenges of maintaining a lifestyle in such a vibrant—and costly—city.