Cost of Living in New York City, NY
|Cost of Living in New York City, NY||Compared to State Average||Compared to National Average|
|Housing (Buy and Rent)||44% higher||264% higher|
|Utilities (Monthly)||2% higher||1% higher|
|Food||11% higher||36% higher|
|Healthcare||4% higher||7% higher|
|Transportation||6% higher||17% higher|
|Goods & Services||7% higher||24% higher|
The cost of living in New York City, NY is 24% higher than the state average and 89% higher than the national average. New York City, NY housing is 264% more expensive than the U.S average, while utilities are about 1% pricier. When it comes to basic necessities such as food and clothing, groceries are around 24% more in New York City, NY than in the rest of the country, while clothing costs around 24% more .
Healthcare services such as doctor check-ups and dentistry cost 7% more here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 24% pricier in New York City, NY.
Housing (Buy and Rent)
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in New York City is $4,108, while home prices circle around $1,457,064.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In New York City, energy bills cost around $168.25 per month.
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $2.90 in New York City, a dozen eggs go for around $2.62 and a pound of potatoes circles around $3.69.
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In New York City, an optometry check-up costs around $100.10, while a dentist appointment is priced $116.14 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $2.58 in New York City, while getting your tires balanced will run you about $65.91.
Goods & Services
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $42.59 here. Meanwhile, a pair of women's slacks will set you back around $36.99.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in New York City, you should budget around $14.44 a month. When it comes to personal services, a haircut usually goes for $25.19, while dry cleaning costs about $13.91.
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In New York City, the median household income is $67,046.