Cost of Living in New York as of April 2023
New York City is a city that attracts many people with its opportunities and multitude of attractions. However, like any large metropolis, the cost of living in New York is quite high. Let’s consider the main expenses of living in New York as of April 2023. This metropolis is always associated with high prices and ranks first in living expenses among other cities in the United States. As of April 2023, rental prices in New York remain high regardless of the size of the apartment. Thus, the average rent for a studio is $3,300 per month, for one bedroom – $3,570, and for two bedrooms – $3,930.
Current prices in New York as of April 2023
|Price per sq. m. in center||$14,950|
|Price per sq. m. outside center||$9,720|
|Utilities ( 85-square-meter )||$160/month|
|One local transport ticket||$2.75|
|Monthly public transport pass||$129|
|Lunch in inexpensive restaurant per person||$25|
|Dinner for two in average restaurant (three courses)||$100|
|McDonald’s menu per person||$12|
The average cost of renting a studio in New York is $3,300 per month. A one-bedroom apartment will cost an average of $3,570 per month, and a two-bedroom apartment will cost $3,930. The city boasts many neighborhoods, each with a unique character and charm. The cost of renting an apartment in these neighborhoods varies widely, from exorbitant to quite reasonable. According to data from April 2023, the cheapest neighborhoods in New York for renting apartments with one bedroom are Central Harlem ($2460/month), Astoria ($2,600), and Bedford-Stuyvesant ($2,690). On the other hand, the most expensive neighborhoods are NoMad ($6200), Chelsea ($5,235), and Bowery ($5,090).
The cheapest neighborhood in New York is Central Harlem, located in northern Manhattan. The area is known for its cultural and historical significance, as well as affordable real estate prices. The average rent for a one-bedroom apartment here is $2460 per month. Housing in Central Harlem is characterized by quiet streets and small apartment buildings. There are many cafes, restaurants, and shops in this area, so residents can enjoy all the benefits of a big city.
However, NoMad is one of the most expensive neighborhoods in New York. The area is located in the heart of Manhattan and is known for its luxurious hotels, restaurants, and boutiques, which is reflected in the cost of renting property. The rent for a one-bedroom apartment here is on average $6200 per month. NoMad is very popular among businessmen and wealthy people who want to live in the center of the city. There are many cultural attractions here, such as museums, galleries, and theaters.
New York is a city that attracts many people with its opportunities and a variety of landmarks. However, like any major metropolis, the cost of living in New York is quite high. Let’s consider the main expenses of living in New York as of April 2023. This metropolis is always associated with high prices and ranks first in living expenses among other US cities. As of April 2023, rental prices in New York remain high regardless of the size of the apartment. For example, the average rent for a studio is $3,300 per month, for one bedroom – $3,570, and for two bedrooms – $3,930.
Real estate purchase
The cost per square meter of an apartment in the city center is $14,950, and outside the center – $9,720.
Basic utilities for an 85-square-meter apartment will cost $160 per month.
The cost of a single ride on local transportation is $2.75. Purchasing a monthly pass will cost $129.
The cost of food in New York is quite high. For one person in the cheapest restaurant, lunch or dinner will cost about $25. If you prefer more upscale establishments, the cost of a three-course meal for two will be around $100. Do you prefer fast food? The cost of a McMeal at McDonald’s is around $12 per person.
The average salary per month after taxes is around $6,170.
Thus, the cost of living in New York is quite high, but by choosing specific options and saving on certain aspects, it is possible to reduce the cost of living in the city. Despite the high cost of living, the average monthly salary in New York after taxes is $6,170, which allows many city residents to live a comfortable life. Overall, life in New York is not cheap, but this metropolis offers many opportunities for career and personal growth, as well as an unparalleled cultural experience.