Planning to move to New York City or paying a visit there for business? New York is one of the largest, culturally diverse and exciting cities on the planet and planned a bit in advance will allow you to enjoy your experience fully. Know what to expect in terms of rental price, utility costs and expenses of public transport. Although New York City makes it to the top ten of the most expensive cities, the cost of living in the city can be highest in the United States. If you are moving to Manhattan, New York can prove to be more expensive as compared to other areas in the city.
In this article, we will give you an overview of some relevant spends you will experience while you live in New York City.
Rental cost in New York
Paying for an accommodation in the New York city can incur huge cost when calculating cost of living, particularly in Manhattan. The location is best known for its affluence, high price of property and apartment rentals. It can be difficult to find a decent two-bedroom apartment for less than a million dollars in Manhattan.
Rent will vary from borough to borough and neighbourhoods. In Manhattan, it is very common where two thirds of apartments have doorman units that cost additional USD 500 a month on an average. Prices of property and rent drops further if you rent an accommodation away from the city centre.
Look for a house or apartment in Staten Island if you want a suburban living at a lower cost. In Staten Island, a one-bedroom apartment ranges from USD 900 up to USD 3,500 a month. Please note that the area isn’t as well connected with public transport as Manhattan, thus the lower prices.
The house rent is not only affected by the location but also on services and facilities available, and their size. Make sure to choose a location that suits you and fits in your budget as well.
Though most of time, utilities, heat and hot water are already included in the rental amount, there can be many other bills that are not included. As per the Labour Statistics, average utility prices are USD 0.21 per KWH for electricity and about USD 1.20 per therm for gas. However, these are not exact figures and completely depend on the service provider. Make sure you check all the service providers available in your area and compare the prices they offer before opting for one.
Similarly, pick good deals for the communication facilities and television facilities that meet your requirements. Many people use only a mobile, while others opt for complete package on landline phones, including internet and television. The package including basic television, landline with unlimited US calls and internet access, will cost you around USD 90-95.
Grocery shopping can be an expensive affair in New York City and if you don’t keep a close watch it is quite possible you will end up spending a huge chunk from your salary. In particular, things are far more expensive in Manhattan. However, buying groceries and making food on your own for lunch and dinner can help you save good amount compared to eating out. Ensure to compare prices and pay a visit to big shopping markets in less expensive areas of the city. Also, you can enrol for Costco memberships or online grocers like FreshDirect or YourGrocer for some good deals.
This short overview might help you to get an idea of the cost of living in dynamic New York City and narrow down your options. Life in this city is synonymous with glamour and excitement, and living in New York would indeed be a dream come true.
Author Biography: I am Pradeep, an avid traveller and blogger. Exploring new places and sharing my experiences with people is my passion. I am currently working as a blogger for Ratedapartments – serviced apartments providers specifically dealing in major cities of the world such as London, Paris, New York, New Delhi and Singapore.