How Much Does It Really Cost To Live In NYC?
You’ve decided to move to New York City. The Big Apple. Surely, if you can make it there, you can make it anywhere. While that all sounds great on paper, the situation on the ground is much different. NYC is notorious for being responsive. Just how expensive? We at Best Long Distance Movers will help you find out just how much does it cost to live in NYC. Let’s take a look at some of the prices for essentials, like food and shelter. But since life, especially in NYC, is much more than food and shelter, we’ll also take a look at some other luxuries and whether or not you can afford them.
What is the bare minimum cost to live in NYC?
We are starting with the basics. Let’s say you’ve just decided that NYC is the place to go. Maybe you want to make it big on Broadway, or perhaps you think that you’ll get a great job in the fashion industry. Or maybe, like the vast majority of people, you’re moving to NYC without a job and are looking for anything. A lot of people watch one of the countless TV shows depicting young groups of friends living in NYC. While it tries to depict the struggles they all go through, it’s not always that cut and dry.
New York City is expensive
When you explore the internet and search for the cost to live in NYC, you keep getting the same result. It’s high. It’s actually one of the biggest cons that people cite when talking about moving to NYC. New York is pretty high compared to average living costs in other states. But that’s not the whole story. And while a city as big and as legendary as NYC it rarely is. While yes, renting a Manhattan apartment will set you back a considerable percentage of your paycheck, you can expect that paycheck to be pretty high as well. So now that we have that out of the way, we can focus on what we all really want to know before you call up the best long distance movers New York. The raw figures!
What will be your housing cost to live in NYC?
Before we start throwing around dollar figures, let’s compare NYC to the national average. When it comes to housing costs, it’s almost 3 times higher than the national average. Yes, the cost to live in NYC is that much higher. Let that sink in for a moment.
- A studio apartment will, on average, set you back around $1,700
- 2 bedroom apartment in NYC goes for around $2,000 a month
- 4 bedroom apartment can, on average, go for as much as $2,700
Naturally, the highest cost of living can be found in Manhattan. On the bright side, if you include New York – Newark – Jersey City Metro area, you can lower those prices by as much as 10%. With prices like that, you should definitely think about downsizing before moving. Otherwise, you can end up paying a lot more than you hoped for. So unless you have an amazing job lined up, make sure you take as few items with you as you can live without.
The cost of groceries in NYC
Aside from the shelter, food is one of the basic necessities you need to survive. In fact, it’s a basic necessity. And in that regard, NYC is not as expensive as one might think after looking at housing costs.
Even though the city is well known for some of the best restaurants in the country, people spend more money on eating at home, around 54%. That’s probably because preparing food at home is a little bit more affordable option. On average, Newyorkers spend 13% of their income on food. That’s just 1% higher than the national average. So your tip for moving to NYC is to learn how to cook. But even if you don’t, you’ll do just fine, as the food in the city is not that much more expensive. Here are some common grocery prices:
- 1 gallon of milk costs around $4.56
- Loaf of fresh white bread (1 lb) is on average $3.59
- 12 eggs will set you back, on average, $4.05
- One pound of tomatoes costs around $2.8
On average, people spend a minimum of $520 on food per person. While that can change based on the seasons and the diet, you can survive with that amount.
Transportation needs to be calculated in the cost to live in NYC
Now that we’ve taken care of the most basic human needs, we also need you to be able to get to work and back. Around 80% of residents of New York own their vehicles. That might seem like much until you look at the national average which is 92.4%. The rest use public transportation. It’s good to consider those figures before deciding to move to New Jersey to save money on rent.
An average Newyorker will spend 12.5% of their income on transportation alone. Again, it might seem like much, but once you consider the national average of 16.8% it’s not that bad at all. You can expect to pay around $9,255 annually on transportation costs alone.
Entertainment costs in NYC
Living in NYC is much more than home, food, and transportation. In fact, one of the primary reasons people move to the Big Apple is the entertainment. So surely you’ll want to enjoy at least some of it. This category is hard to compare to the national average. But to help you better imagine your life in NYC, here are some average prices:
- A movie ticket will cost you around $15 in Midtown, New York
- New York Knicks tickets, on average, cost $190
- Brooklyn Nets tickets are $87
- The average cost of a Broadway show is $122
- If you want to see the Mets it will cost you only $27.60
Can you afford the cost to live in NYC and is it worth it?
Living in New York City is by no means cheap. It can even be considered expensive. In fact, that’s one of the things you need to know before moving to NYC. But is it worth it? Well yes! The opportunities and experiences that you’ll have can’t compare to anything in the world. And truly, if you can make it there you can make it anywhere. So be brave and start this new adventure sooner rather than later.