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Cost of Living in
New York City
Rank #8
To compile our rankings, we analyzed the factors associated with living costs like housing, transportation, groceries, utilities, and healthcare.
Living cost is 61% higher than avg
Families spend upto $14,015/mo on avg
Homeowners spend $13,609/mo on avg
Renters spend $8,602/mo on avg
Cost of Living in
New York City
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New York City, NY is the #8 Most Expensive City in the U.S.
U.S. Avg.
New York City, NY
Difference Diff
Home Price
$532,491
$1,440,835
171% Apartment Rent (per month)
$1,367
$4,236
210% U.S. Avg.
New York City, NY
Difference Diff
Phone (per month)
$219.4
$204.27
7% Total Energy (per month)
$200.23
$267.95
34% U.S. Avg.
New York City, NY
Difference Diff
Grocery Staples
Corn Flakes (per box)
$6.79
$7.39
9% Frozen Corn (per bag)
$2.41
$2.57
7% Frozen Meal (per package)
$4.85
$4.84
0% Cooking Oil (per bottle)
$6.16
$11.31
84% Detergent (per bottle)
$19.51
$22.67
16% Facial Tissues (per box)
$2.85
$2.93
3% Sweet Peas (per can)
$1.83
$2.34
28% Sugar (per bag)
$4.66
$5.38
15% Bread (per loaf)
$3.87
$4.35
12% Frying Chicken (per lb)
$1.64
$1.56
5% Meat & Poultry
Chicken (per lb)
$1.71
$1.57
8% Steak (per lb)
$14.54
$16.65
15% Sausage (per lb)
$5.23
$5.25
0% Ground Beef (per lb)
$8.61
$7.52
13% Snacks & Beverages
Soft Drink (per bottle)
$3.45
$3.12
10% Potato Chips (per bag)
$5.54
$4.46
19% Coffee (per lb)
$6.55
$7.1
8% Fresh Orange Juice (per half gallon)
$5.22
$5.18
1% Fruits & Vegetables
Peaches (per can)
$4.40
$3.33
24% Lettuce (per head)
$1.98
$2.35
19% Bananas (per lb)
$0.64
$0.9
41% Potatoes (per bag)
$5.58
$5.03
10% Dairy & Eggs
Parmesan Cheese (per lb)
$4.69
$6.2
32% Margarine (per lb)
$1.30
$2.2
69% Eggs (per dozen)
$3.98
$4.98
25% Whole Milk (per gallon)
$4.08
$5.42
33% Seafood
Chunk Light Tuna (per can)
$1.22
$1.63
34% U.S. Avg.
New York City, NY
Difference Diff
Tire Balance (per tire)
$70.23
$84.44
20% Gasoline (per gallon)
$2.9
$3.23
11% U.S. Avg.
New York City, NY
Difference Diff
Doctor Visit (per visit)
$116.03
$190.57
64% Dentist Visit (per visit)
$145.11
$180.2
24% Ibuprofen (per bottle)
$12.38
$12.27
1% Prescription Drug (per month)
$20.8
$23.51
13% Optometrist Visit (per visit)
$95.27
$162.5
71% U.S. Avg.
New York City, NY
Difference Diff
Women’s Slacks
$35.43
$38.18
8% Boys’ Jeans
$29.47
$36.2
23% Men’s Shirt
$39.36
$49.38
25% Wine (per bottle)
$7.51
$13.88
85% Beer (per 6-pack)
$11.17
$11.37
2% Veterinary Services (per visit)
$65.33
$98.32
50% Tennis Balls (per pack)
$3.59
$3.6
0% Yoga (per class)
$12
$27.92
133% Movie (per ticket)
$11.67
$17.31
48% Newspaper (per copy)
$19.31
$10.07
48% Washer Repair (per service)
$109.47
$92.77
15% Women Slacks
$34.88
$36.81
6% Boy Jeans
$29.51
$34.86
18% Man Dress Shirt
$39.05
$46.21
18% Dry Cleaning (per item)
$13.45
$19.55
45% Shampoo (per bottle)
$1.55
$1.89
22% Toothpaste (per tube)
$3.64
$4.46
23% Beauty Salon (per visit)
$47.5
$72.43
52% Haircut (per cut)
$27.08
$31.46
16% Fried Chicken (per serving)
$4.37
$5.75
32% Pizza (per pizza)
$11.99
$13.71
14% Hamburger (per serving)
$5.28
$6.07
15% Welcome to the Big Apple—where the cost of living is 61% higher than the national average. This makes New York City the most expensive metro area in the US. The premium is driven by the city's iconic skyline, unparalleled job opportunities, and world-class cultural scene. With Wall Street anchoring global finance and Broadway setting the standard for entertainment, housing demand across all five boroughs consistently exceeds supply—fueling one of the country's most competitive real estate markets.
- Housing is 171% higher than the US average. The median home price in New York City is $1,440,835.00, dramatically higher than the national median of $428,000. If you're buying a home in NYC, expect to put down 20–25% of the home price as a down payment. Monthly mortgage payments here run 300% to 400% higher than cities like San Diego or Boston.
- Renting is 209.9% higher than the national average of $1,628. A one-bedroom home in New York City costs around $3,239, with the city's average rent exceeding $4,000. These prices aren't just driven by square footage or amenities, but proximity: to global headquarters, world-renowned institutions, public transit, and non-stop cultural life. In Manhattan, you're paying for access to opportunity, status, and to the city that sets the pace for the rest of the world.
- Utilities are 14% higher than the national average. Energy bills cost around $250 per month, a result of New York City's older building infrastructure and year-round air conditioning needs. Con Edison's urban grid system and building maintenance fees drive costs above suburban markets.
- Food prices are 12% higher than the US median. A gallon of milk costs $5.42, compared to $4.30 in Chicago or $4.10 in Philadelphia. A dozen eggs cost $4.98, while a pound of potatoes costs $5.03. A family of four typically spends $1,800 to $2,500 a month on groceries.
- Transportation expenses are 28.85% higher than the national average. Gas costs around $3.23 per gallon, but most residents rely on the MTA subway system. A monthly MetroCard costs $132, while those who drive in the city spend $84.44 on tire balancing.
- Healthcare costs are 27.4% higher than the national average. A dentist appointment costs $180.20 on average, while an optometry check-up averages $162.50. With top hospitals like Mount Sinai and NYU Langone, New York City offers top-tier medical care, but specialized services come at a premium.
- Miscellaneous expenses are 17.85% higher than the national average. A movie ticket costs $17.31, while haircuts can cost $31.46. New York City offers premium entertainment experiences, from Broadway to Michelin-star fine dining. However, there are also budget-friendly recreation options, like Central Park concerts and free museum days.
Moving to New York City? Brace yourself for high costs. The skyline views are priceless, but make sure your paycheck can handle everything else!👉 Next Step: Compare single-family homes in New York City, New York
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Browse Homes For Sale in New York City, NYIs Living in New York City, NY Expensive?
Yes, New York City is extremely expensive to live in. The cost of living in New York City is 61% higher than the national average. Housing costs represent the biggest expense, sitting 171% higher than the US median.
With a budget of $1.6M, you can buy a modest townhouse in New York City, with basic amenities like street parking and laundry facilities. That same amount could fetch you a luxury home in Denver or a house with a backyard in Atlanta. Higher utility costs and expensive groceries only add to the financial strain in the Big Apple.
Housing in New York City
+
New York City's housing market is 171% higher than the US average. It even surpasses major cities like San Francisco, London, and Tokyo. Moreover, mortgage rates range from 6.5% to 7.5%, with additional costs like co-op fees and maintenance adding $800 to $2,000 per month. So, affording a house in New York City requires a high income and careful planning on your part.
Utilities in New York City
+
Food and Groceries in New York City
+
Transportation in New York City
+
Healthcare in New York City
+
Miscellaneous Costs in New York City
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What Salary Do You Need to Live in New York City, NY?
The average salary in New York City is 61% higher. But in order to live comfortably, you'll need $90,000 to $150,000 per year, depending on your lifestyle and household size.
- Homeowners spend $163,308.00 per year: Owning a home in New York City means high mortgage costs, maintenance fees, property taxes, and insurance. Utilities, groceries, and transportation add to the total, especially in more central or historic neighborhoods. Areas like Riverdale, Forest Hills, and Staten Island can offer slightly more affordability, but still require consistent financial planning.
- Renters spend $103,224.00 per year: Renting in New York City is expensive—especially in Manhattan, Brooklyn, or up-and-coming areas like Long Island City and Bushwick. In addition to monthly rent, renters must cover essentials like utilities, internet, groceries, and public transit or rideshare. Many opt for smaller spaces or outer-borough neighborhoods to stretch their budget.
- Families with kids spend $168,180.00 per year: Raising children in New York City adds significant financial pressure. Costs include childcare, schooling, and the need for a larger living space. Family-friendly areas like Park Slope, the Upper West Side, and Prospect Heights offer excellent amenities and schools, but you'll need a six-figure income to keep up.
Is New York City, NY Too Expensive? Find Homes in New York City, NY as Per Your Budget
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What is a Cost of Living Calculator?
A cost of living calculator helps you compare the expenses required to live in a different location. The calculator factors in various living expenses like housing, food, utilities, transportation, fitness, and entertainment, and helps you estimate how much salary you need to live in that city. Since the cost of goods and services varies in different cities, a New York City cost of living calculator can help you decide whether moving to this city makes financial sense.
About Cost of Living Data
The data used to determine New York City's cost of living is sourced from the Council for Community and Economic Research (C2ER). Published since 1968, COLI data is recognized by the U.S. Census Bureau and the Bureau of Labor Statistics. This organization regularly updates its data to offer a detailed and well-researched view of living expenses in cities across the country. An independent Advisory Board reviews C2ER’s data collection methodologies and quarterly publications to ensure consistency and quality. For more information, visit www.coli.org. Data published as of Oct 2025.
Frequently Asked Questions
How much is gasoline in New York City?
The cost of gas in New York City is $3.23 per gallon. However, most residents rely on public transportation due to expensive parking and traffic congestion. Owning a car in Manhattan can cost $15,000+ annually, including parking, insurance, and maintenance.
Is New York City a good place to live?
Yes, New York City is an excellent place to live if you value career opportunities, cultural experiences, and urban convenience. From Broadway and world-class museums to diverse neighborhoods and global cuisine, the city offers non-stop excitement, alongside top-tier healthcare, schools, and public transit.
What is the cost of living in New York City, NY?
The average cost of living in New York City, NY, is 61% higher than the national average. SoHo and Tribeca are the most expensive areas, while Washington Heights, Astoria, and parts of Brooklyn offer more affordable options within the five boroughs.
What is the average rent in New York City?
The average rent in New York City for a one-bedroom home is $4,037 per month. However, premium neighborhoods like the West Village and SoHo cost significantly more, as they offer luxury amenities like doormen, rooftop terraces, and fitness centers. Many buildings also provide concierge services and parking.
How much is a two-bedroom apartment in New York City?
A two-bedroom home in NYC costs around $5,441 per month. Expect higher rents for Manhattan locations, or luxury buildings in DUMBO, Long Island City, or Williamsburg.
What is the average price of utilities in New York City?
Utility costs in New York City average around $450-$600 per month. This includes electricity, water, and gas. Summers see higher costs due to air conditioning usage in older buildings without efficient systems.
How much is childcare in New York City?
If you're moving to New York, expect to pay between $2,000 to $3,500 per month for childcare. Prices vary by borough, with daycare centers in Manhattan and Brooklyn costing more than family-based care in Queens and the Bronx.
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