How Much Does it Cost to Live in New York City, NY?

Thinking about living in New York City? The Big Apple offers luxurious living, unbeatable amenities, and other key moving trends, but it comes at a higher price tag for several major areas like housing, medical care, goods, and more. To help you budget for your New York City move, ask movers questions before getting started, and read our guide to the cost of living in NYC to see if this metro area is right for you!

Cost of living data provided by the Council for Community and Economic Research (C2ER).

How Much Does It Cost to Live in New York City?

The average cost of living in New York City is 131.5% higher than the national average, which is to be expected from one of the largest cities in the U.S. Despite NYC generally being an expensive place to live, you can find safe and affordable neighborhoods to call home if you budget correctly. Look below for cost of living price comparisons.

Cost of Housing in New York City

Housing is one of the most expensive cost categories for living in New York City. Overall, housing in NYC is about 400% more expensive than the national average. Despite these higher costs, residents often have a higher median household income compared to the rest of the country, and there are still affordable neighborhoods to choose from if you're on a budget. Check out the average New York City real estate costs below, whether you're renting or buying.

Cost of Utilities in New York City (Monthly)

While New York City utilities costs for energy are about 22% higher than the national average, phone bills are a bit more in line with the rest of the country. Look at the table below to get an idea of how much utilities in New York City will cost you.

Cost of Groceries in New York City

Part of calculating New York City living expenses includes considering local grocery costs. Typically, the monthly cost of groceries in NYC is about $500—but this is dependent on where you shop, your dietary needs, overall lifestyle, and home size. Check out the table below to familiarize yourself with average NYC grocery costs.

Cost of Healthcare in New York City

The cost of healthcare in NYC will vary from person to person, depending on health insurance, location, and more. On average, you'll be paying more than the national average for doctor, dental, and optometrist appointments, but prescription medication costs are close to the U.S. average. See the table below to see detailed NYC healthcare costs.

Cost of Transportation in New York City

While New York City transportation costs are also more expensive for things like gasoline and tire balances, most NYC residents opt for public transportation or walking instead, so you may be able to save on costs by not moving with your car.

Cost of Goods & Services in New York City

Some goods and services in New York City are more expensive than the national average, but many are competitive. You'll see the biggest price hike for beauty salons, which in NYC are almost 50% higher in cost than the national average. See the table below for price comparisons of common goods and services in NYC.

Frequently Asked Questions

Is it expensive to live in New York City?

Yes, NYC is expensive to live in, with housing being one of the major costs. However, the cost of living in New York can vary depending on which borough you choose, with Manhattan's cost of living being over 30% more than the cost of living in Brooklyn or Queens.

What is a livable salary in NYC?

The minimum salary in New York City that you need to live comfortably as a single adult ranges from $75,000 to $138,000. Keep in mind that this amount can vary depending on how many people you're living with, which part of town you're living in, your overall lifestyle, and more.

What are the average monthly expenses in New York City?

Single adults can expect to spend about $1,700 per month in NYC, excluding rent costs. If you're living in New York City with kids, these expenses may be closer to $6,000 per month. If you're looking to cut spending, consider saving money on entertainment, dining out, or other areas.

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Moving to New York City? Check out our helpful moving resources to help make your next relocation go smoothly. And if you need storage throughout your transition, Extra Space Storage has plenty of facilities located in all of NYC's boroughs. Find a storage facility near you today!