It’s no secret that life in New York one of the most expensive in the US. But how much does it cost to live in NYC? To answer this question, we will have to consider such categories as rent, commute, as well as entertainment and food options. No matter if you’re planning to move to New York, or just want to know the life level of the City, this post will also give you some useful tips on how to get the most of it.
How Much Does It Cost To Rent In New York?
Talking about how much it costs to live in NYC, we should consider rent in the first place.
According to Numbeo, 47.5% of all the expenses are spent on monthly rent, while 25.4% are spent on markets and 10.6% on restaurants. The average rent for one-bedroom apartments in New York is around $3,000 and two-bedroom apartments cost $3,900 on the average. Being a young professional, it’s really hard to find a decent place in Manhattan, as rental prices are extremely high there.
The good news is that you can actually live even in the most expensive neighborhood for only $1,000 per month. Of course, you will have a roommate, but living in a decent borough has so many advantages. The bad news is that rental prices are not going to decrease, as most neighborhoods have gentrification tendencies and attract more and more young professionals and families.
How Much Does It Cost To Commute In NYC?
Let’s talk about NY transportation and decide how much it costs to live in New York. In case your destination implies using public transport, New York offers a great rail and bus system that is provided by the MTA (the Metropolitan Transportation Authority). The prices are reasonable, and the system operates 24/7. The first thing you should do in order to get around New York is to purchase a MetroCard. A pay-per-ride MetroCard for $2.75 allows you to use the system unless you exit it. A 30-day unlimited MetroCard will cost you $116.50.
Every New Yorker knows that subway is the quickest, easiest and most reliable way to get around the City, but you can also use buses to get to the place not close to a subway stop. Let’s not forget about taxis that are also available 24 hours a day, 7 days a week. A minimum fare is $2.50 and the ride cost increases with every minute or every fifth of a mile. Using a car to commute in the City is not as popular as the public transportation system is a faster way to get to the place of your destination.
How Much Does It Cost To Eat In New York?
Despite the fact that rental costs are too high in NY, there’s still a chance to save some money. New York is expensive to the extent you allow it to be. The City offers an unbelievable number of food options, as well as amazing bargains and deals. Your monthly expenses on eating out and at home can vary from $300 to $1,000.
Some people advise buying as much food as you need as long as you don’t throw anything away. According to Expatistan, a basic lunchtime menu is available for $16, while a combo meal in a fast food costs only $9. If you don’t want to spend from $200 to $300 per month on eating out during lunchtime, take some food from home.
How Much Does It Cost To Entertain in NYС?
When talking about how much it costs to live in NY, we should definitely take the City’s entertainment under consideration. The Big Apple offers its residents a great variety of events to spend a night out. Fortunately, lots of them are available for free. You can always find a place with happy hours on some drinks. Get use of all the specials and coupons to cut your expenses.
On the other hand, the most popular theater shows usually cost a fortune here. If you want to go for a movie, two tickets will cost you $30. A pint of beer is usually available for $7, but look out for happy hours. Tired of the nightlife? New York also offers free cultural events and the museums are great!
You will also have to spend on clothing and housing utilities, as well as beauty and personal care and some other things. But no matter how much you earn, remember that it is wise to save some money for the future. How much does it cost you to live in New York City?