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Mad Men enters its final season on April 5, and throughout its run, audiences have watched characters experiment with various fashion trends, cultural shifts (remember when Peggy Olson declared, "I’m Peggy Olson. I want to smoke some marijuana"?), and different neighborhoods in New York City. But given how drastically NYC has changed over the last half-century, how realistic is the Mad Men lifestyle in today's world?
Peggy Olson’s once modest Upper West Side apartment is now part of a charming residential neighborhood, and the St. Mark’s Place boarding house where Betty Draper searched for a runaway teen is probably a trendy restaurant for NYU students. But what about Don and Megan Draper’s stylish Park Avenue residence?
Using Census data, the real estate site Trulia estimated Don Draper’s likely salary as a creative director at Sterling, Cooper & Partners—around $45,000—and compared it to the median home price in 1960s New York City, which was about $75,000. Although the cost of Don and Megan’s fictional apartment at 783 Park Avenue is never disclosed on the show, it's safe to assume it was on the higher end. With its sunken living room, spacious bedrooms, patio with a city view, and impeccable mid-century modern furnishings, it’s a dream home for any 1960s enthusiast.
How does this compare to 2015? Trulia reports that a creative director now earns an average of $155,000 annually, which would allow the Drapers to afford a home worth around $355,000. However, apartments on the Upper East Side, particularly in the vicinity of 73rd Street and Park Avenue where the Draper apartment is set, are out of reach for anyone making that salary—even when considering Megan’s intermittent acting career.
Trulia's data reveals that the average apartment in that area costs a whopping $16.5 million, with some properties selling for much more. Just a few blocks from the fictional Draper residence at 740 Park Avenue, Vera Wang purchased an apartment for $23.1 million in 2007, while hedge fund manager Israel Englander broke records by paying $71.3 million for a front corner duplex in 2014 (the seller was asking only $48 million).
Not all apartments in the neighborhood are billionaire-exclusive, but it’s clear: unless you're a millionaire, making it on Park Avenue is nearly impossible.
So where could the Drapers live instead? Trulia suggests relocating from the Upper East Side to the Financial District, where a studio apartment can be purchased for $450,000, or even Midtown (which, let's face it, would make Don's commute much easier after his next two-martini lunch).
