Cost of Living in New York, NY, United States

Updated On July 19, 2023

How Much Does It Cost to Live In New York, NY?

New York City (also known as only “New York“, “NYC”, “The Big Apple”, or just “The City”), is the most populous city in the United States.

This humongous city has a population of approximately 8.2 million people.

New York City is a world center for media, culture, food, fashion, art, research, finance, and trade.

And don’t forget one of the largest and most famous skylines on earth, right in this city, dominated by Empire State Building.

New York City is very expensive, but you can get it by spending only $2000–2500 a month if you scrimp and live following a budget.

Cost of Living Index:
* Based on Research & User Data


In New York City, mostly everything is expensive.

Food in restaurants, and drinks in clubs (count on paying around 15$–20$ for a cocktail), all can get very expensive.

Restaurants at all different price levels exist, as well.

High menu prices are not necessarily indicative of food quality.



Cooking will definitely bring down your meal costs – just remember that Whole Foods is probably the cheapest grocery store in NYC.

Your grocery run which may have been 40$ in California, in New York will be double that amount.

Grocery costs tend to be higher because this is such a popular city with so many people.

Count on all the regular chain stores and supermarkets.



A monthly pass for the subway runs around 120$, and factor in a handful of Uber or Lyfts on top of that (those start at around 8$ and go up from there).

For shorter distances, your best bet is to walk.

A single-ride MetroCard – costs 3$ and is good for one use.

Owning a car is also often more expensive in NYC than elsewhere, because if you don’t have an underground parking garage, you need to pay for parking constantly.



Against all expectations, utilities in New York aren’t the least bit more expensive than utilities anywhere else in America.

They vary but you can calculate a rough $178 per month which includes paying for trash, water, and sewer.

Don’t forget that the price of utilities does depend on the amount of electricity you use and on the size of your apartment.

Sports and leisure


Many of the nicer/newer buildings will include gym access in your rent.

If you need to find a gym elsewhere, pricing starts at around 35$ a month.

You can also find a variety of boutique fitness and yoga/pilates classes for around 20-35$ per class.

Running outside is, of course, still free.

Entertainment like movies and theaters generally have higher costs in NYC than elsewhere.

Clothing and shoes


New York is known as the fashion capital of the United States, and a major shopping destination for people around the world.

It has an unfathomable range of department stores, boutiques, and specialty shops.

Clothes from national chains cost the same as anywhere else.

Sample sales can also be a great way to score lovely pieces for 50-90% off retail, just be prepared to stand in line and dig.

NYC also has flagship stores for just about every luxury brand in existence.

Rent per month


If you want to live by yourself, studios in Brooklyn are running at 2400$ per month, and Manhattan is really expensive.

Queens and the Bronx are where people are moving, but even those parts of the city are expensive.

There’s an influx of citizens even up north on the Hudson river.

The general rule outside of NY is that your rent should be 1/3 of your income; the rule here is that it’s probably going to be 1/2 of your income.

Cost of Living Averages Table for New York, NY

*Note: All prices are indicated in USD.
Average Restaurant Prices
Meal (Inexpensive Restaurant)$25.00
Domestic Beer (0.5 Liter)$8.00
Water (0.33 Liter)$2.10
Average Market Prices
Milk (1 Liter)$1.38
Loaf Bread (500g)$4.45
Eggs (12)$5.6
Average Transport Prices
One Way Ticket$2.75
Monthly Pass$129.00
Average Utilities Prices
Basic (Water, Electricity, Garbage, Heating, Cooling)$178.47
1 min. of Prepaid Mobile Tariff Local$0.07
Internet (Unlimited Data, Cable/ADSL)$75.80
Average Leisure Prices
Fitness Club, Monthly Fee for 1 Adult$113.09
Tennis Court Rent (1 Hour)$35.00
Cinema, 1 Seat, International Release$18.00
Average Clothing Prices
1 Pair of Jeans (Levis 501 Or Comparable)$66.50
1 Summer Dress in a Chain Store (Zara, etc...)$53.39
1 Pair of Adidas Walking Shoes (Mid-Range)$97.17
Average Rent Prices
Apartment (1 bedroom) in City Center$3725.20
Apartment (1 bedroom) Outside of Center$2529.03
Apartment (3 bedrooms) in City Center$7704.81

How Does the Average Person Spend Their Money in New York, NY?

Not surprisingly at all, for a world-famous city like New York, where rent is through the roof, the biggest expense of living in the biggest metropolis of the world is rent.

Rent takes up close to a whopping 50% of all income, which is a shockingly high percentage and just goes to show how expensive rent is in this city.

Food is definitely the next biggest expense for anyone living in New York – though this is the situation in most countries around the world.

Sport and staying fit takes up more money than utilities from the people of New York, percentage-wise.

Average Costs Breakdown


New York, NY: Average Salary, Minimum Wage & Mortgages

NYC can be expensive, but remember that the minimum hourly wage is also 15$ an hour here, so even if you are marginally working, you can survive.

Jobs are relatively plentiful.

The entertainment industry – which attracts hundreds of hopefuls each month is what makes the most money in this city, along with major corporations also based in New York.

With huge rent prices, it’s difficult to save money, and even more difficult to purchase a home without having an income of over $100k.

The average monthly salary in New York is very high – around 6500$, while the minimum wage is just a bit over 2500$.

Average Salary$6541.10
Minimum Wage$2600.00
Mortgage Interest Rate6.65%

New York City Safety Overview

READ THE FULL REPORT: New York City Safety Review

Safety Index:

Cost of Living by City in New York, NY

CityCost of Living Index
Albany, NY72.4
Albuquerque, NM72.4
Anchorage, AK72.4
Ann Arbor, MI72.4
Arlington, TX72.4
Asheville, NC72.4
Atlanta, GA72.4
Austin, TX72.4
Bakersfield, CA72.4
Baltimore, MD72.4
Bellevue, WA72.4
Bellingham, WA72.4
Berkeley, CA72.4
Birmingham, AL72.4
Boise, ID72.4
Boston, MA72.4
Boulder, CO72.4
Brooklyn, NY72.4
Buffalo, NY72.4
Burlington, VT72.4
Charleston, SC72.4
Charlotte, NC73.33
Chattanooga, TN72.4
Chicago, IL72.4
Cincinnati, OH72.4
Cleveland, OH72.4
Columbia, SC72.4
Columbus, OH72.4
Dallas, TX72.4
Dayton, OH72.4
Denver, CO72.4
Des Moines, IA72.4
Detroit, MI72.4
El Paso, TX72.4
Eugene, OR72.4
Everett, WA72.4
Fayetteville, AR72.4
Fort Myers, FL72.4
Fort Wayne, IN72.4
Fort Worth, TX72.4
Fresno, CA74.2
Gainesville, FL74.2
Grand Rapids, MI74.2
Greensboro, NC74.2
Hartford, CT74.2
Honolulu, HI74.2
Houston, TX74.2
Huntsville, AL74.2
Indianapolis, IN74.2
Irvine, CA74.2
Jacksonville, FL74.2
Jersey City, NJ74.2
Kansas City, MO74.2
Knoxville, TN74.2
Las Vegas, NV74.2
Lexington, KY74.2
Little Rock, AR74.2
Long Beach, CA74.2
Los Angeles, CA74.2
Louisville, KY74.2
Lubbock, TX74.2
Madison, WI74.2
Memphis, TN74.2
Miami, FL74.2
Milwaukee, WI74.2
Minneapolis, MN74.2
Nashville, TN74.2
New Orleans, LA74.2
Oakland, CA74.2
Oklahoma City, OK74.2
Olympia, WA74.2
Orlando, FL74.2
Peoria, IL72.4
Philadelphia, PA72.4
Phoenix, AZ72.4
Pittsburgh, PA72.4
Portland, ME72.4
Portland, OR72.4
Raleigh, NC72.4
Reno, NV72.4
Richmond, VA74.2
Rochester, NY74.2
Sacramento, CA74.2
Saint Louis, MO74.2
Saint Paul, MN74.2
Saint Petersburg, FL74.2
Salem, OR74.2
Salt Lake City, UT74.2
San Antonio, TX74.2
San Diego, CA74.2
San Francisco, CA74.2
San Jose, CA74.2
Santa Barbara, CA74.2
Santa Rosa, CA74.2
Seattle, WA74.2
Spokane, WA74.2
Springfield, MO74.2
Syracuse, NY74.2
Tacoma, WA74.2
Tallahassee, FL74.2
Tampa, FL74.2
Toledo, OH74.2
Tucson, AZ74.2
Tulsa, OK74.2
Vancouver, WA74.2
Virginia Beach, VA74.2
Washington, DC74.2
West Palm Beach, FL74.2
Wichita, KS74.2

Where to Next?

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1 Review on New York, NY

  1. N
    NYC Native says:

    Recalculate the figures. It's actually more expensive.

    Some of these numbers are off. I live in NYC and I can attest that NYC is actually more expensive. Whoever wrote this report needs to adjust some of the figures. For example where is gasoline priced at $0.80? Gasoline prices are more around $3.00+, sometimes $4.00+ a gallon. And this is only one example of a few numbers that are off in the article.

New York, NY Rated 4 / 5 based on 1 user reviews.

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