Cost of Living in New York, NY
Housing
The housing market plays a significant role in determining the cost of living in New York, NY.
- Housing Index: 125.0 / 100
- Median Home Price is: $800,000
- Average Rent (2 BR Apartment): $2800 per month
- Average Rent (2 BR House): $2880 per month
Considering a move to New York, NY may involve weighing several important factors. With a population of , this vibrant area has a median age of , indicating a diverse community. The median income stands at , which might offer a comfortable lifestyle, yet the poverty level at suggests some economic challenges. The unemployment rate of can influence job security but may also reflect robust job opportunities as the city grows. Keep these statistics in mind as you determine whether New York is the right fit for your next chapter.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in New York, NY.
- Electricity Price: $26.08 USD (median by state)
- Natural Gas Price: $18.13 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in New York, NY could entail higher utility costs. Electricity costs sit at $26.08, while natural gas is priced at $18.13 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if New York is a financially viable option for your relocation.