Cost of Living in New York
There is no denying that New York is one of the most popular states in the US and this is all thanks to one city. New York City is not only the greatest city in the country but also in the entire world. For this reason, you can expect many people to plan to move here every year. On average, more than 100 000 people move to NYC annually. The situation has changed since 2019 when the pandemic hit. Many have moved out because of increasing prices and the lack of job opportunities. Now that the pandemic is over, NYC is regaining its popularity back. Therefore, you should start looking for the best long distance movers if you plan to live in New York as soon as possible. In order to prepare properly, here is everything you need to know about the cost of living in New York.
Where to live in New York?
Many people tend to forget that New York is a state and it has more than one city. As a matter of fact, NYC is not even the capital city of New York state, Albany is. Therefore, if you plan to move to New York state, you should consider other cities as well. They can be more affordable than NYC. For this reason, before you find the best long distance movers in New York, you should take a good look at all the cities and decide where to live. Here are the six largest cities in the state listed according to the population.
- New York City 8,930,002
- Buffalo 281,757
- Yonkers 214,687
- Rochester 211,480
- Syracuse 149,310
- Albany 99,498
As you can see, the gap between NYC and Buffalo is extremely big. However, New York state is relatively small. Therefore, if you live anywhere else, you can relatively easily reach NYC anytime you want.
The cost of living in NYC
NYC is the largest city in the state so it is far enough to start the list with it. There are almost 9 million people living here. The median home value is $635,500 while the national average is $229,500. The average rent is $1500 while the national average is $1090. Lastly, the median household income is $67,050 while the national average is $65,000. As you can see, the amount is almost the same while renting or buying prices are higher. However, it is extremely important to mention that the prices largely depend on the location. It is not the same as living in Manhattan as opposed to the Queens. The difference in the renting prices is huge. For this reason, before you start looking for the most reliable long distance movers in New York City, make sure to check if you can find a place in your preferred borough and neighborhood.
What about Buffalo?
As the second largest city, Buffalo has around 255,805 residents. However, it is drastically cheaper than NYC. The median home value is only $101,000 while the median rent is $800. The median household income is $39,650. Overall, it is a quiet city with reasonable walkability, moderately interesting food, excellent beer, and independent stores. Good environment for families, but not for young professionals just starting out. Buffalo is a sparsely populated city. The city generally has no companies, it simply has tall skyscrapers. In general, people are friendly and usually hang around downtown. There is one thing to know before moving to Buffalo. It is boring when compared to NYC. However, if you don’t like the idea of a loud and overcrowded city, find the long distance movers Buffalo offers and move here. You will definitely have peace and quiet time when living in Buffalo.
The next city is Yonkers
Yonkers is the third largest city with a population of 200,183. It is also considered a suburb of NYC. For this reason, it is more expensive than Buffalo. The median home value is $415,000 while the average rent is $1,460. In addition to this, the median household income is $69,850. It’s a city that welcomes families and has everything you could possibly need. While residing in a more quiet location, commuting to NYC is quick and simple. The educational system is excellent. Students have access to classes that are well-scheduled and organized. Furthermore, the city is growing daily since many people are moving here with the best long distance movers in Yonkers. With upstate nature hikes like those in the Marian Woods in Hartsdale and the Marshland Conservatory in Rye, it offers a getaway from city life.
You can also consider Rochester
Rochester is the fourth largest city in New York with a population of 206,357. Furthermore, Rochester is located in Monroe County. The median home value is $88,000 while the median rent is $875. The median household income is $37,500. Although it may at first appear to be a quiet remnant of a once-gigantic metropolis, it has a fascinating past and a thriving local public art, dining, and nightlife culture that draws young professionals and college students. Nearly every street has some sort of artwork, making the area enjoyable to explore. Therefore, it is more interesting than Buffalo for young adults. If you are an art lover, Rochester seems like a good match for you. In this case, find the right fit among all the long distance movers in Rochester. In addition to this, there are several possibilities to volunteer, participate in community advocacy work, and take in the area’s stunning natural surroundings.
The cost of living in New York and Syracuse
Syracuse is the fifth largest city in New York with a population of 149,500. In addition to this, Syracuse is located in Onondaga County. The median home value is $95,500 while the median rent is $840. The median household income is $38,895. The city is of a reasonable size, the schools are excellent, and the cost of living is fair. Furthermore, it’s wonderful for raising a family and having fun. Numerous groups, like the Manufacturing Association of New York, and Amazon’s entry in Syracuse guarantee additional high-quality manufacturing and service sector jobs. The Syracuse University campus and programs offer quality education. Green Lakes Park, Silvan Beach, Chittenango Falls, and Beaver Lake are just a few of the amazing parks and lakes nearby. If you are looking for a more affordable option, long distance movers Syracuse provides can move you here cheaply and in no time.
What is the situation with NYC when it comes to food and groceries?
The benefits of relocating to New York City cannot be discussed without mentioning the cuisine. The amazing culinary scene in NYC is what most people appreciate about being here. New York City has the fifth-highest concentration of Michelin-Starred restaurants in the world, with 69 of them. To try them all, you’ll certainly need a trust fund. However, you don’t have to dine at these upscale restaurants to have a wonderful dinner because NYC has a varied selection of restaurants, many of which are affordable. In general, New York’s grocery prices are more than 39% higher when compared to the national average. For example, a loaf of bread is around $4.80, milk, $3.10, eggs $2.20, bananas $4.65, and hamburger $6.60. Again, the prices will depend on the location. However, these are the things you should know before moving to New York to prepare properly.
The cost of living in New York – Housing, Utilities & Transportation
Housing costs in New York are 407% more expensive than the national average, while utility costs are 1% more expensive. Gas prices and transportation costs are 21% more than the national average. NYC is among the best cities to celebrate New Year’s Eve, but is it good enough to live here? As mentioned, housing is extremely expensive. If you want to live in Manhattan, the median home price is more than $2 million and the average rent is $6,150. Furthermore, the energy bill is around $175 per month, the phone bill is $190 per month, and the gas is $5.25 per gallon. The good thing is if you use the subway more than twice a day, a monthly pass will cost you $133 but is well worth the money. Alternatively, you may choose the weekly passes for $33. NYC’s public transit system is effective and reasonably priced.
Healthcare costs in New York
It is important to stay healthy, especially when you are moving. Healthcare could also be included in the living cost in New York. Unfortunately, it is 9% more expensive than the national average. If you plan to visit a doctor, the average price is $128. In addition to this, a dentist visit is $110 on average. Then, an optometrist visit is around $119. An RX drug is $510. You also cannot forget about your animal friend if you have any. A veterinary visit is around $75. However, these prices depend on your insurance. It will also depend on the location and health institution. Therefore, before any visit, you should definitely check how much it will cost to receive the medical attention. Finding a good doctor for you or a vet for your pet is one of the things to do after moving to a new state.
How much money should you earn in New York?
Your lifestyle and your willingness to make sacrifices will determine this. Fancy having a roommate or your freedom? Theoretically, a 40,000 annual wage will allow you to live in New York City. You’ll likely have many roommates and avoid going to restaurants frequently. Additionally, only on rare occasions, you will be allowed to go to rooftop bars. You may have a more pleasant social life with an income of $70,000. This means still living with a roommate and going out once or twice a week. Lastly, you will be able to take advantage of everything that the city has to offer if you earn more than $120,000 a year. Drinking with friends after work, dining out on special occasions, seeing the newest performances, strolling around SOHO more than once a week, and so much more.
Is it worth living in New York?
With the living cost in New York so much higher than the national average, you might wonder if it is really worth living here. It’s true that New York City is the motherland of opportunity. Dreamers flock to New York City to make their dreams come true. After all, there is no better place than New York City to try to get into the big time if you’re an entrepreneur. It’s difficult to top the chances and networking relationships you may establish while residing in New York City. The top names in IT, marketing, fashion, media, sports, you name it, are all based in New York City. Furthermore, you must think carefully about selecting a career that fits your lifestyle. Additionally, competition is intense. It will take more effort to get a job and keep it than it does in smaller cities.
Should you move to New York?
As you can see, the cost of living in New York is high but it is the price to pay if you want to live in NYC or close to it. You might not appreciate how valuable this is until you leave New York City, but wait till you move somewhere else and start to crave random food at 2 in the morning. Even if you get off work closer to 9 pm, there is always something exciting going on in the city. Choose from fantastic pubs, amazing jazz clubs, and romantic restaurants late into the evening. For this reason, see your options. If you can afford to live here, go for it. On the other hand, if you find NYC too expensive, you can choose any of the cities mentioned above. You will be close to NYC but you will pay less for the living cost.