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) | 6% higher | 218% higher |
| Utilities (Monthly) | 2% higher | 15% higher |
| Food | 1% higher | 14% higher |
| Healthcare | 9% higher | 27% higher |
| Transportation | 1% higher | 12% higher |
| Goods & Services | 6% lower | 17% higher |
The cost of living in New York City, NY is 2% higher than the state average and 74% higher than the national average. New York City, NY housing is 218% more expensive than the U.S average, while utilities are about 15% pricier. When it comes to basic necessities such as food and clothing, groceries are around 14% pricier in New York City, NY than in the rest of the country, while clothing costs around 17% more .
Healthcare services such as doctor check-ups and dentistry cost 27% more here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 17% 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 $4,809, while home prices circle around $1,666,613.
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 $250.30 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 $5.14 in New York City, a dozen eggs go for around $3.80 and a pound of potatoes circles around $4.48.
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 $145.17, while a dentist appointment is priced $172.52 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.51 in New York City, while getting your tires balanced will run you about $78.97.
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 $42.21 here. Meanwhile, a pair of women's slacks will set you back around $39.81.
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 $17.61 a month. When it comes to personal services, a haircut usually goes for $30.50, while dry cleaning costs about $17.01.
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 $79,713.