Cost of Living in Manhattan
You’ve made a very brave decision by deciding to move to the concrete jungle of NYC. Probably the most famous part of New York City is Manhattan. Not everybody is lucky enough to live there. Let’s see what the cost of living in Manhattan is and if it is worth it. We all know NYC is pricey; join us while discovering if it’s too expensive or worth what’s offered. Manhattan movers are happy to assist you in this exciting life experience!
What is the real cost of living in Manhattan?
Manhattan does not need a lot of introduction. Everyone who has ever heard of NYC knows about it. But before we get into money talk, let’s learn some basic information and get more familiar with this side of NYC. As of this year, the population of NYC is about 8,244,910 people. The median age is 35.5, and 36.80% of the population is foreign-born. This gives NYC a lot of diversity and variety.
Before going any further, there is something you would want to know. Based on research done with the database of 268 cities, NYC in general and Manhattan specifically is the 1st most expensive city. This might turn away some people, but we are here to see if it’s worth it.
Important costs while living in Manhattan
You can be economical and save money where you can. However, there are some essential expenses you have to make to live a comfortable life. Let’s see how much that costs when you live in Manhattan.
- Rent: You will need approximately $5,102 monthly to rent a 2-bedroom apartment
- Home price: If you are buying a house, you will need to pay about $2,200,000 for 3 bedrooms, 2 baths home
- Transportation: If you’re driving your car, you’ll pay $2.81 per gallon of gas. Regarding public transportation, the price for most subways and buses is $2.75, and express buses cost $6.75. NYC’s subway system is pretty good. If you don’t explicitly need your car, you can rely on the subway and other public transportation.
- Healthcare: To visit a doctor, you will need $106.72. If you’re paying a visit to your dentist, that will cost you $124.43. It’s very smart to invest in private healthcare to avoid paying a fortune for health appointments or urgent visits.
Cost of living in Manhattan vs. NY state and US in general
We’ve established that living in Manhattan will be more pricey than in most cities in the USA. Or the world. But let’s see what these prices are compared to the state and national average. This will help you get a better picture of the cost of living in Manhattan.
- Housing is 114% higher than the state average and 439% higher than the national average
- Utilities are 0% higher than the state average and 1% lower than the national average
- Food prices are 21% higher compared to the rest of the state and 48% higher compare to the USA in general
- Healthcare is 7% higher than the state average and 10% higher than the national average
- Transportation is 17% more expensive compared to the state and 30% more expensive compared to the whole nation
These stats might scare one away from Manhattan. However, commercial movers Manhattan have been assisting newcomers in Manhattan for quite some time and all of them believe they’ve made the right choice!
What is the quality of life like in Manhattan?
Even though the city of NYC is huge and very crowded, Manhattan is not as crazy as you may think. Residential movers in Manhattan and others working in this area say that they need about 39.2 minutes to get to work. If you are well organized, this is not too crazy of a commute time. When it comes to public transit rating, it was rated 81 and considered excellent transit.
The walk score is 85, which means that Manhattan is very walkable. There are 0.27 bars per 1.000 people and 0.14 gyms for the same number of people. When it comes to weather, you will experience all four seasons in Manhattan. Winters are icy and cold, so get yourself some good winter gear. Summers, on the other hand, are very hot and humid. You will need those bars around you! Springs can be rainy, and the most beautifully looking season of all in this region is the fall. New England fall is known to be mesmerizing.
It’s very important to think about the time and season when you’ll be moving to Manhattan. No matter how close or far you’re coming from, winters and summers can be tricky when moving. Long distance movers in Manhattan advise that you consider moving during the fall season. This will give you the chance to stay cool and to enjoy beautiful colors of autumn while settling in.
So, is it worth it?
Living in Manhattan is always worth it! Of course, don’t leave your “money comfort zone” so that you can say you live in this part of NYC. Make sure you organize your budget so you can handle the cost of living in Manhattan. Keep in mind that the median salary in Manhattan is $51,270. With this amount, you should be comfortable and able to cover all expenses and have some extra.
There are always ways to lower your expenses too. One way is to share an apartment with one or more roommates. Walking when you are not in a rush or eating at home can help too. If you are not worried about any of this and you just wanna have your glam moment in Manhattan, we wish you the best of luck!