Cost of Living for a Family of 4 in New York
To alive in New York City is to fulfill a dream for so many people. Skyscrapers tower over the packed pavement full of young artists, entrepreneurs, and hustlers. At nighttime, the skyline dazzles like a 1000000 jewels, and during the day, sunny Fundamental Park stretches through the city, offering an attracting urban haven.
The simply oft-bemoaned subject for this city? The high cost of living in New York Metropolis.
That said, if you can make information technology here, you can get in anywhere. Check out our guide beneath, which covers the average costs in different neighborhoods, including:
- Rent
- Utilities
- Transportation
- Food
- Entertainment
Cost of living in NYC: Rent
The U.Southward. Bureau of Labor Statistics plant that housing is the largest expenditure category for New Yorkers, making upwards 38 percent of their overall budget in 2018-xix. In comparison, the U.S. average is 32.7 percentage.
Rent prices will vary by neighborhood, so this guide volition expect at average hire overall in NYC as well every bit average rent in favorite neighborhoods and beyond housing in the v boroughs.
Equally of March 2019, these were the median rents for apartments in New York City compared to apartments nationally:
| Flat Size | Median Rent in NYC | National Median Rent |
| Studio Apartment | $one,899/mo | $827/mo |
| 1-Bedroom Apartment | $2,098/mo | $947/mo |
| Two-Bedchamber Flat | $two,499/mo | $1,175/mo |
New York hopefuls tin command these costs somewhat based on the neighborhood they choose for their housing. In 2018, Business Insider compiled boilerplate hire prices for Manhattan's 28 neighborhoods, listed here from to the lowest degree expensive to nearly expensive:
- Washington Heights: $ii,176/mo
- Roosevelt Island: $3,379/mo
- Eastward Harlem: $3,412/mo
- Tudor City: $3,287/mo
- Theatre District – Times Foursquare: $iii,839/mo
- Clinton-Hell's Kitchen: $iii,877/mo
- Murray Hill: $3,918/mo
- Turtle Bay: $3,948/mo
- Kips Bay: $3,951/mo
- Eastward Village: $4,003/mo
- NoMad: $4,005/mo
- Gramercy Park: $4,005/mo
- Flatiron Commune: $4,050/mo
- Greenwich Village: $iv,076/mo
- Garment District: $four,128/mo
- Financial District: $4,128/mo
- Yorkville: $4,145/mo
- Carnegie Colina: $four,145/mo
- Chelsea: $4,173/mo
- Hudson Yards: $iv,176/mo
- Lenox Colina: $4,250/mo
- Civic Center: $4,419/mo
- Lincoln Square: $4,644/mo
- Upper West Side: $iv,697/mo
- Manhattan Valley: $4,707/mo
- SoHo: $v,287/mo
- Battery Park City: $5,575/mo
- Little Italy: $6,013/mo
Studio and one-sleeping room apartments in Manhattan are on the lower end of the to a higher place averages, while two-sleeping room apartments are slightly more expensive. Of course, you can't forget well-nigh New York Metropolis's other boroughs. As of 2017, here are the average rents for each borough:
- Staten Isle: $one,500/mo
- The Bronx: $1,700/mo
- Queens: $2,992/mo
- Brooklyn: $3,045/mo
- Manhattan: $4,044/mo
Looking to find housing in one of these 5 boroughs? Save by renting already furnished apartments in NYC and apartments that offer flexible, short-term leases.
Cost of living in NYC: Utilities
Renters frequently forget to factor the cost of utilities into their renting budget. As of 2019, the average cost of a basic utilities package in a 915-square-pes apartment in New York was $145.55 per month. That includes:
- Heating
- Electricity
- H2o
- Garbage
New Yorkers are getting a pretty expert bargain. The boilerplate cost for basic utilities across the U.South. is slightly more at $152.02 per month. The boilerplate monthly cost of internet is also like to the national average, at effectually $62/mo.
If y'all're renting an unfurnished apartment, y'all will likely need to gear up these utilities yourself. When yous rent a fully furnished apartment, however, the utilities are oft already ready prior to your motion-in.
Toll of living in NYC: Transportation
The same BLS study mentioned above found that New Yorkers spend approximately 12.5 percentage of their budget on transportation. The national average is 16.eight percent. Residents of the New York metropolitan area spend nearly $9,255 annually on transportation, which the U.Southward. Bureau of Labor Statistics breaks down into:
| Transportation Category | New York City | Nationally |
| Ownership, operating, and maintaining individual vehicles | 79.viii% | 92.four% |
| Public and other transportation | 20.two% | vii.6% |
Translation? New Yorkers spend more on public transportation, less on private vehicles, and less overall on transportation compared to the national average.
Most New Yorkers don't accept cars because of the quality of the city'due south public transportation system and the added expenses of vehicle ownership. 2 of those expenses are parking and gas. While parking in the outer boroughs is slightly less expensive than in Manhattan, a 2017 and 2019 study establish the following:
- Average Toll of Parking: $606.37 per calendar month
- Average Price of Gas: $3.08 per gallon
- Average Insurance Charge per unit: $iv,400 per year
In each case, this is more expensive than the national average. While New York has ane of the best public transit systems in the United states of america, it is likewise one of the most expensive:
| City | Cost of Monthly Transit Pass |
| New York City | $127/mo |
| Chicago | $105/mo |
| Los Angeles | $100/mo |
Although the toll of public transportation is more expensive in New York, transportation is overall withal less expensive because well-nigh people don't need a auto. With just your MetroCard, you will be able to access earth-class restaurants, theaters, nightclubs, bars, museums, and more.
Cost of living in NYC: Food
When it comes to living expenses, New Yorkers' boilerplate spending on food was similar to the national average:
| Location | Food Expenditure |
| New York Urban center | thirteen.iii% |
| United States | 12.9% |
Although New York is known for its extraordinary restaurants, residents spend a similar percentage on nutrient inside the habitation versus outside the home every bit the average U.S. household:
| Category | New York Metropolis | U.South. |
| Food expenditure at habitation | 54.4% | 56.half dozen% |
| Nutrient expenditure away from home | 45.half dozen% | 43.4% |
In New York, this works out to $v,352 on food at abode each yr and $iv,491 on food away from home each year, or $9,843 full. Every bit for groceries, in 2019, New Yorkers paid an average of $471.34 each month per person. This is more expensive than the U.South. average, which is $324.40.
The inflated grocery costs can be attributed to the overall price of living (companies have to pay workers more and pay higher rental costs) and the difficulty of making deliveries on such a decorated and crowded island.
Cost of living in NYC: Entertainment
Another reason to honey New York? The metropolis has incomparable amusement options. Come across a prove on or off-Broadway or spend the day at the Metropolitan Museum of Fine art or Natural History Museum.
New Yorkers spend 4.1 percentage of their upkeep on amusement, which is slightly less than the 5.1 per centum national boilerplate.
Of course, that 4.1 per centum doesn't comprehend food or alcohol. New Yorkers spend 0.nine percent of their upkeep on alcoholic beverages, which is the aforementioned as the national boilerplate. To help you lot imagine your big-urban center hereafter, here are the average costs for some entertainment options:
- Average pic ticket price in Midtown New York: $fifteen.25
- Average cost of a ticket to encounter the Brooklyn Nets: $87
- Boilerplate price of a ticket to see the New York Knicks: $190
- Average toll of a ticket to see the Mets: $27.sixty
- Boilerplate toll of a ticket to see the Yankees: $47.62
- Average price of a ticket to a Broadway show: $122.73
- Ticket price for the Metropolitan Museum of Art: $25
- Ticket price for the American Museum of Natural History: $23
Detect your next dwelling house, wherever yous are
The average cost of living in New York might exist college than the national average, but there's a reason that people of all ages and backgrounds flock here. Information technology's the city that never sleeps. The Large Apple. The Empire Urban center. Information technology's whatever you want information technology to be, and information technology can be yours with Landing.
Moving to the uppercase of the world has never been easier. Access 1 of our already furnished apartments in NYC on a flexible lease and create your new habitation today.
About the author
Bri Manus
Source: https://www.hellolanding.com/blog/what-is-the-cost-of-living-in-new-york-city/
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