What are the costs of living alone in NYC
New York City is unlike anywhere else. The five boroughs are home to more than 8.3 million people, making it one of the most expensive cities in the world. Nevertheless, the city’s population continues to grow every year. Thousands of new aspiring residents are moving in. You are probably wondering what are the costs of living alone in NYC. Today, Best Movers NYC will break down the cost for you- from housing to food and transportation cost.
What are the costs of living alone in NYC?
Moving to a new city is always fun. And moving to the Big Apple, the center of it all, is probably the most exciting thing you ever did. However, living in NYC does not come cheap, especially if you want to live alone and not with roommates. You must budget your income well in order to live a comfortable lifestyle. Before hiring some of the best local movers NYC offers, you should consider the following:
- what are the costs of living alone in NYC, like the cost of rent or purchasing a home
- price for utilities (gas, electricity, water, internet, etc)
- and finally, what is the cost of food, transport, and leisure is
Housing in New York City
Housing is probably the biggest cost there is, no matter where you live. However, if you want to live alone in NYC, it’s easier to rent a place. The majority of New Yorkers rent. The average household spends more than 30% of its income on housing. Manhattan is by far the most expensive city in the country in terms of average rent at $4,210. You can find cheaper places to live of course. Neighborhoods like Washington Heights or Marble Hill go for around $1,800 for a one-bedroom apartment.
If you do decide to buy a home in NYC, within the five boroughs, the median price for a single-family home is $571,000. No matter which of these you decide, renting or buying, with the help of residential movers NYC– you will start your adventure in no time.
Don’t forget about utilities
When you are looking for apartments, you can’t help but wonder how much utilities cost. If you want to live alone, renting an apartment might be a better choice. Most older buildings include heat, water, and electricity in the rent, so tenants pay less for utilities. The landlords of older buildings typically do not charge tenants for individual use of heating systems or electricity, since they usually have one meter for both.
If you do pay for your own electricity, that might be expensive but other utilities can be reasonably priced. In other words, renters and owners who pay their own utility bills can expect to pay about $136 in total, which is lower than the national average of $160.
Leisure and entertainment price
Some prefer to spend their free time at home with a book, but others like to treat themselves. Entertainment cost is something you must include in your monthly budget. Things you might spend some extra money on are going out to the movies or catching a show on Broadway. Social outings can cost anywhere from $15 to $150.
Take advantage of the many free activities New York has to offer if you wish to cut costs. Some museums are free, but some like MoMA and MET cost around $25. If you want to live alone, you might attend parties, where the entrance and drinks can come up to $100 a night.
Transport and food come at a cost
Due to traffic in the city, it’s best to avoid taxis and driving a car and use public transportation instead. By purchasing a $127 unlimited monthly pass, commuters can save money, especially when living alone. Compared to similar passes in other transit-intensive cities, the Metrocard is somewhat more expensive. Given New York’s extensive subway and bus network, it is a very good value. You can also commute by ferry. Staten Island Ferry is even free!
There is no correlation between neighborhood rent prices and grocery price variations in the city. New Yorkers spend more on groceries than residents of any other city in the United States, at around $450 per month on average. Compared to the national average, residents spend 130% more on dining out. Full-service restaurant meals cost $45 on average in NYC, about $10 more than in other parts of the country. As for coffee shops, coffee is usually around $5, and if you like having one to-go every day for work, count it in your budget.
What are the costs of living alone in NYC: How to save money?
The smartest thing you can do before moving to NYC when you’re living alone is to leave your car behind. Despite the fact that gas prices are similar in different states, parking is very expensive. Parking in Manhattan garages costs anywhere from $300 to $1000 per month, and in Brooklyn, $150 – 500. Other boroughs have lower prices and more street parking. Instead, you can get a bicycle and drive around with it. You can even guy a CitiBike membership. Of course, if you do decide to move with your car, get in touch with long distance movers NYC, and see how you can relocate your car.
New York City isn’t cheap when you’re starting out on your own. If you are asking yourself what are the costs of living alone in NYC, simply put- the costs are high, although worth it in the end. With all the prices included, and if you are on a budget, you can spend around $3.000 a month. In Manhattan, the average salary of all employees is significantly higher than that of the nation. It is impossible to put a price tag on living in the Big Apple.