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) | 4% higher | 230% higher |
| Utilities (Monthly) | 1% higher | 17% higher |
| Food | 1% higher | 15% higher |
| Healthcare | 12% higher | 28% higher |
| Transportation | 0% | 11% higher |
| Goods & Services | 9% lower | 15% higher |
The cost of living in New York City, NY is 1% higher than the state average and 79% higher than the national average. New York City, NY housing is 230% more expensive than the U.S average, while utilities are about 17% pricier. When it comes to basic necessities such as food and clothing, groceries are around 15% pricier in New York City, NY than in the rest of the country, while clothing costs around 15% more .
Healthcare services such as doctor check-ups and dentistry cost 28% more here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 15% pricier in New York City, NY.
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 $4,719, while home prices circle around $1,826,527.
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 $275.59 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 $5.43 in New York City, a dozen eggs go for around $5.33 and a pound of potatoes circles around $5.23.
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 $158.04, while a dentist appointment is priced $184.77 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.13 in New York City, while getting your tires balanced will run you about $86.90.
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 $45.78 here. Meanwhile, a pair of women's slacks will set you back around $40.11.
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 $19.36 a month. When it comes to personal services, a haircut usually goes for $29.32, while dry cleaning costs about $19.73.
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 $80,483.