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February 16, 2019

Cost of Living in New York City, New York

Cost of living in New York City: let’s analyze costs of food, real estate, entertainment, and transport in New York City, New York

Are you considering moving to New York City for your career or to start a business? Check below the data for the cost of living in New York City, New York which is on top of the world’s major commercial, financial, and cultural centers.

cost of living in new york

New York City, New York: Overview

New York City is a major city located on the East Coast of the United States and sits where the Hudson River meets the Atlantic Ocean. It is a densely populated area that consist of 5 major boroughs: Manhattan, Brooklyn, Queens, The Bronx, and Staten Island.

It is one of the most well-known cities in the United States and is famously called “The Big Apple”. New York City is famous for its buildings: The Empire State building and the One World Trade Center. It’s infamous park, Central Park, sprawls amongst the skyscrapers. As well, New York City is famously recognized for the Statue of Liberty which rests in the harbor.

New York City is famous for Wall Street, in which the Stock Market exists, and many businesses have chosen to place their headquarters in the bustling city. English is the main language used throughout the city, but because of its important roles in business and culture, there are many other languages that are used as well.

New York City is one of the most popular cities for expats to move to because it is a cultural hub for everyone. This city has representation from most countries and many have a strong community in the neighborhoods of the city.

Cost of Living in New York City, New York

The price of services and good are high and it is generally an expensive city to live in. The highest price comes in its real estate market, in which prices skyrocket. New York City is a well-connected city and allows easy access with its international airport, JFK, which can serve for many going over to Europe.

New York City is a notoriously expensive city to live in. The cost of living is a lot higher than the national average, up to 70% higher. Manhattan is the most expensive part to live in. Both the real estate and rental markets are extremely expensive. As well, New York City has some of the highest income tax rates in the country.

Let’s check some data for the cost of living in New York City, New York below:

If you want to suggest your own values based on your experiences in this city, click on edit and insert the values. Upon moderation they will be calculated to make part of the average prices displayed below.

FoodPrice [EDIT]
1 liter of milk1.20 USD
1 loaf of bread3.50 USD
1 kg of tomatoes6.00 USD
1 kg of chicken8.50 USD
1 single meal cheap restaurant18.00 USD
1 single meal high-end restaurant55.00 USD
1 cappuccino or latte4.00 USD
1 big pizza delivery20.00 USD
Real EstatePrice [EDIT]
1 bedroom flat (40 m2) rent per month2,500.00 USD
1 bedroom flat (40 m2) utilities per month82.00 USD
2 bedroom flat (80 m2) rent per month4,600.00 USD
2 bedroom flat (80 m2) utilities per month154.00 USD
Price per square meter (city center)12,590.00 USD
TransportPrice [EDIT]
1 single ride public transport2.75 USD
Monthly public transport ticket121.00 USD
1 km taxi or similar transport app1.65 USD
1 liter of gasoline (1/4 gallon)0.85 USD
Toyota Corolla (new) basic version19,500.00 USD
SalariesPrice [EDIT]
Minimum Salary2,112.00 USD
Average Salary (net)4,300.00 USD
ExtrasPrice [EDIT]
1 ticket to the movies (adult price)16.00 USD
High speed internet per month55.00 USD
1 month gym subscription50.00 USD

Cost of Living for Students in New York City, New York

New York City is a great city for students because it offers excellent universities and provides an energetic landscape. The level of education is set at an extremely high standard with numerous prestigious universities offering programs in the city. Some options for student housing include on campus dorms or off campus apartments. The cost of living is extremely expensive, but the availability of jobs does help to keep the cost down. As well, many universities offer scholarship programs, which can help with the cost of tuition.

The Universities main language that is used in their education is English, but some may have courses available in other languages. Most of the highest education institutions will ask for your language proficiency and may provide a test for you to complete.

Here are some main higher education institutions in New York City:

The Juilliard School

New York University

Columbia University

Getting a Job in New York City

New York City has an array of different job opportunities as many large businesses and corporations have chosen this city to place their headquarters. From the art-based careers to time on Wall Street, there are countless job opportunities for everyone. But, keep in mind that competition will be stiff. You will want an excellent resume and experience to outshine all other applications.

The main language used is English, which will be essential to live and work in the city. However, because of the array of jobs and careers, there are many opportunities where speaking a foreign language can benefit your application. You may find a job where a foreign language can give you the edge that gets you hired.

If you are a citizen of the United States, you can start applying for jobs in New York City immediately, without having to wait for any papers. If you are moving from abroad, remember that there is a lengthy process to receiving and being approved for a work visa in the United States.

Here are some websites for job hunting in New York City:

Indeed

Glassdoor

Monster

Quality of Life in New York City

It is safe to say that the quality of life in New York City is high. The city may be full of skyscrapers, but it does offer beautiful parks and trails. Some of the famous parks are Central Park and Washington Square Park, whereas a famous trail along the river is the Highline. You will find that this city is packed full of arts and culture. From the infamous Broadway plays and musicals to the small neighborhoods like Little Italy, New York City delivers in entertainment. There are numerous famous museums for you to explore, one being the Metropolitan Museum of Art.

new york times square

New York City is a safe city, though there are parts that may be more insecure. The police do their job to ensure that the civilians stay safe, but you should still take caution. There is petty crime and some areas aren’t as safe to venture as others. It is best to keep an eye on your belongings and be aware of your surroundings.

The climate varies by season. In the summer, New York City can get quite hot and, in the winter, it can be well below freezing. In the summer you will normally find warmer temperatures of up to 85 degrees and in the winter the average is about 44 degrees. However, there are always years where the weather is extreme and winters in the city can be extremely harsh, so be prepared and have a full four-season wardrobe ready.

Other Resources for Travelers and Expats

Salaries Worldwide: check our articles on wages worldwide and understand better the economics of the countries you may be considering to move or invest.

Retire Abroad: check our retirement guides and maximize your retirement income and quality of life.

Our Flight Tickets Search: compare and find the cheapest air fares worldwide.

Are you in New York or planning to visit it soon? Leave your thoughts in the comment box below.