The cost of living in NYC will vary drastically between individuals and families and will change based on the style of living you are used to. Individuals typically spend around $2,500 per month on living expenses, including rent. Families can expect to spend closer to $4,000 per month excluding a nanny or a dog walker.
To be sure that you have enough money to cover the cost of living in NYC after relocating to the Big Apple with the help of professional movers, we’ve created this guide. MovingAPT is here to help you understand average monthly expenses in New York City, as well as a few tips to help you save locally.
With a bit of planning, you can make ends meet despite the cost of bagels and easily manage your living expenses. Saving on moving companies in NYC is key to getting off on the right foot here. Here are some major cost factors:
1. Housing Cost in NYC
Housing is the highest expense you’ll have to budget for when living in NYC. The average rental price for an apartment in Manhattan is $4,500 per month, while the median rental price in Brooklyn is $3,200 per month for a two bedroom place.
You can save on housing costs by renting an apartment with roommates, living in a less expensive area with great transport, or simply moving further out. If you are buying a place, you can also save money on your mortgage by making a larger down payment or waiting for a better interest rate. Scoring a great deal on housing is the key to saving in NYC.
2. Utilities Cost in NYC
No matter where you live you will have utility expenses. In addition to rent or mortgage, you will have electricity, gas, water, and trash bills so don’t forget to factor this in. The average monthly cost for utilities in NYC is around $100-$200. Don’t forget to turn off the lights when you head out.
3. Transportation Cost in NYC
Public transportation is one of the best ways to get around NYC, and most affordable. A monthly MetroCard costs a little over $100 and will get you everywhere. Despite the cold, if you can manage without a car or Uber you will save big.
4. Food Cost in NYC
We all have to eat. The average monthly cost for groceries for one person is around $250 as grocery stores in the city are costly. Hit up the $2 pizza to save on costs while keeping your calorie count high.
NYC Living Costs: The Extras
1. Fun in the City
There’s no shortage of things to do in NYC, and many can be done for free or affordably. Watch your budget here as this is where hidden costs lie. Don’t forget that a walk around Central Park is a free fun activity.
2. Healthcare
If you don’t have health insurance through your job, you’ll need to budget for the cost of health insurance. The monthly cost of health insurance in NYC averages about $700 a month.
3. Child and pet care
That nanny makes a great salary! Don’t forget to factor in the price of childcare and babysitters when figuring out your budget. Even doggy-sitters here can make a five-figure salary.
Saving on NYC Living Costs
Researching the services you need to make the move smooth can save you on living costs (and even the best state-to-state movers).
By booking movers in advance, packing yourself, and decluttering before you move, you will save on professional moving services, which will add to your initial living budget and give you a little extra padding to settle in.
NYC locals know it is all about the discounts and deals. Many museums have free or admission on certain days, and there are always deals to be found on Broadway tickets last minute.
Whether you’re moving to NYC to start a new adventure or follow a career dream, having the right movers can make all the difference. Use our moving cost calculator to estimate your move and budget more effectively.
NYC Living Costs: Frequently Asked Questions
How much do I need to live in NYC?
The cost of living in NYC varies depending on your lifestyle, but individuals can live comfortably on an annual salary of $60,000 – $80,000. Couples and families can live comfortably on a yearly salary of $70,000 – $100,000.
What is the most expensive part about living in NYC?
The most expensive part of living in NYC is housing. This is usually around 50-70% of your salary. The average monthly rent for a one-bedroom apartment in NYC is around $3,200, and the average monthly rent for a two-bedroom apartment is about $4,000 area-dependant.
Is NYC a good place to live for my family?
If you love the fast-paced lifestyle and endless entertainment options this is a great option for a young family. Some find the city too crowded and expensive once a second child is born. Ultimately, the best way to determine if NYC is the right place for you is to visit and explore with the kids in tow!
What should I look for in NYC movers?
Honesty, price and real reviews tell all. Great local NYC movers are key to getting from your old home to your new one.
Will it cost more to use NYC movers or do it myself?
Full-service NYC cross-country movers are the best way to go when moving to NYC, as they can handle all the logistics for you and help you save. While this convenience does come at a cost, it is usually on par or less than the security deposits, fuel, and time required to do it yourself unprofessionally.
Live in NYC with the Help of Professional Movers
Whether moving to the city to pursue your acting dreams or follow a new love opportunity, the best long-distance movers can help you get there. Finding the right local movers means you can save money to use for living costs that will help you explore and enjoy everything the Big Apple has to offer.
