I founded BankSimple in NY. I'm an Australian immigrant, and my co-founder is Indian. We pay less than $2k/mo for rent for an awesome office in Brooklyn, we had 10 people in the office over summer. Most of my team lives in Brooklyn, where things are much more affordable, but you are still likely to be paying over $1600/mo for a small apartment.

I've never lived in SF, but as I understand it, it is not much cheaper.

There is a great community of tech startups, but they tend to be around the Union Square area in Manhattan. I spend a bunch of time meeting up with folks around Union Square, but its only a 15min train ride in from Dumbo in Brooklyn. Meetup is based here and there are a ton of tech and startup meetups. You wont find yourself lacking for social support as you build up your business.

I love NY. There is a fantastic culture of getting shit done. The city is cut throat, but that is inspiring. Everyone is on a mission. And its not all about technology. You meet inspired folks from all walks of life. Talented designers, musicians, financiers, advertisers, chefs and architects.

I'm going to miss NY. My company is heading to Portland, but I hope to bring the best of NY to Portland.