New York is a diverse and dynamic state located in the Northeastern United States, known for its cultural, financial, and commercial impact both nationally and globally. Its most populous city, New York City, is renowned for its iconic landmarks like Times Square, Central Park, and the Statue of Liberty, while the state also offers a variety of landscapes, including the scenic beauty of the Hudson Valley, the beaches of Long Island, and the natural wonder of Niagara Falls.
If you are considering moving to New York, the various costs listed below will help you make an informed decision on what costs are involved.
Quick New York Facts:
- Population: 8.468 million (2021)
- Official Language: English
- GDP Per Capita: $94,000 (2021)
- Random Fact: New York City was briefly the U.S. capital from 1789 to 1797. George Washington was inaugurated as the first president of the United States on the balcony of the old City Hall, now Federal Hall, on Wall Street.
- Currency: US Dollar (US$). As of early 2023, £1 = $1.20, €1 = $1.07, $1 CAD = $0.74, $1 AUD = $0.68
1. Moving and Shipping Costs to New York
Below are sample costs of moving the contents of a 3 bed house to New York state from other US states: (Note these are sample prices only, use the form at the top of the page to get more accurate quotes)
The low-end price assumes you doing all the packing and driving a rental truck yourself. The high-end price assumes using professional movers and packers.
- California: $2,600 – $10,500
- Texas: $1,300 – $8,900
- Florida: $1,200 – $8,050
- Pennsylvania: $300 – $5,300
- Illinois: $1,050 – $7,250
- Ohio: $700 – $6,650
- Georgia: $1,000 – $7,300
- North Carolina: $1,000 – $6,300
- Michigan: $1,000 – $6,400
- New Jersey: $350 – $5,500
- Connecticut: $150 – $3,500
- Massachusetts: $400 – $5,000
- Vermont: $200 – $4,000
- Rhode Island: $400- $4,000
2. New York Housing Costs
In New York City, housing prices can vary significantly; in upscale Manhattan neighbourhoods such as the Upper East Side or Upper West Side, the median home value can easily exceed $1 million, with luxury apartments and townhouses reaching into the tens of millions. In contrast, in certain areas of the outer boroughs like parts of Brooklyn or Queens, median home values might range from $500,000 to $800,000.
Monthly Rental Prices in New York:
- 1 bedroom flat (apartment) in City Centre: $3,700+
- 1 bedroom flat outside the City Centre: $2,500+
- 3 bedroom flat in City Centre: $7,300+
- 3 bedroom flat outside the City Centre: $4,100+
New York Home Purchase Prices:
- Price per square metre (10.7 square feet) to buy in City Centre: $15,300+
- Price per square metre (10.7 square feet) to buy outside City: $9,700+
New York Housing Cost Comparison:
This is how rents in New York compare with other cities around the globe.
- London is 43.5% cheaper
- Los Angeles is 40.1% cheaper
- Toronto is 102.3% cheaper
- Sydney is 68.4% cheaper
- Paris is 142.1% cheaper
- Dubai is 100.5% cheaper
How to Save on Housing Costs:
- Share a Flat or House: Sharing a house or a flat is a way to save on living expenses. You may have to share a bathroom but you will save at the end of the day. A cheaper option is to share a room. Have a look at the following site to find your perfect room or flatmate: SpareRoom and NYC Apartment.
- Different Areas – Different Prices: In New York City, housing prices are substantially higher in upscale “uptown” neighbourhoods like the Upper East Side, often surpassing $1 million. Conversely, in some “downtown” areas, particularly in the outer boroughs like Brooklyn or Queens, you can find median home values between $500,000 to $800,000, though some areas may match or even exceed Manhattan prices.
3. New York Food, Grocery and Restaurant Costs
New York’s food scene is incredibly diverse, reflecting the city’s blend of cultures, with trends spanning from health-conscious fare and fusion cuisine to an enduring love for comfort foods. The city is famous for its New York-style pizza, hot dogs, bagels with lox, and internationally-renowned fine dining, and there’s also a thriving craft cocktail and local brewery scene across the state.
- Inexpensive Restaurant: $25.00
- Takeout Coffee: $5.30
- Bottle of Coke: $2.70
- 1L of Milk: $1.40
- Loaf of Bread: $4.30
- 12 Eggs: $5.50
- 1kg Chicken: $16.30
- 1kg Beef: $19.25
- 1kg Apples: $6.00
- 1kg White Rice: $7.90
This is how restaurants and food prices compare with other major cities in the world.
- London restaurants are 4.4% cheaper and groceries are 67.5% cheaper than New York.
- Los Angeles restaurants are 4.5% cheaper and groceries are 24.9% cheaper than New York.
- Toronto restaurants are 34.4% cheaper and groceries are 45.1% cheaper than New York.
- Sydney restaurants are 28.3% cheaper and groceries are 29.4% cheaper than New York.
- Paris restaurants are 40.6% cheaper and groceries are 31.4% cheaper than New York.
- Dubai restaurants are 43.1% cheaper and groceries are 102.5% cheaper than New York.
Bonus Tips for Cheaper Food, Restaurants and Groceries:
- Know Your Supermarkets: Farmers’ markets are a staple in many New York neighbourhoods, offering locally grown produce and artisan goods, with notable ones like the Union Square Greenmarket in Manhattan and the Grand Army Plaza Greenmarket in Brooklyn. As for supermarkets, New York has a wide variety, from budget-friendly options like Aldi and Trader Joe’s, to high-end grocery stores such as Whole Foods and Eataly.
- Find Cheap Eats: New York has a good selection of restaurants which offer food at affordable prices. Have a look at Time Out and Trip Advisor.
4. New York Alcohol Costs
New York, like all cities in the United States, has plenty of bars and clubs to choose from, whether you want a quick beer after work or a cocktail before dinner.
- Pint (0.6L) domestic beer at a restaurant/pub: $8.00
- Bottle of imported beer at a restaurant/pub: $10.00
- Pint (0.6L) domestic beer at a supermarket: $3.10
- Bottle of imported beer at a supermarket: $3.80
- Mid-range bottle of wine at a supermarket: $18.00
How To Drink For Less in New York:
- Keep an eye on the local papers and websites for specials over weekends and public holidays.
- Take a look at Time Out.
5. New York Transportation Fares
New York City has a robust public transportation system, with the Metropolitan Transportation Authority (MTA) operating a vast network of subways and buses that provide extensive coverage across the city and into the surrounding suburbs. Beyond the city, other areas of the state are served by regional rail lines, buses, and ferries, although car travel is more common in the more rural parts of the state.
Here are some sample ticket costs:
- Adult single – $2.75
- One-day ticket – $5.00
- Monthly season ticket, unlimited – $129.00
How To Save Money on Public Transport:
- Buy a bike. Depending on where you live and work, cycling around the city is certainly a viable option.
- Walk. If you live relatively close to where you work, you can walk to work.
6. Cost of Internet in New York
Internet prices in the States are expensive compared with many other countries in the world. Here are some sample broadband internet prices from early 2023 for unlimited downloads, based on a 12-month contract:
- Sprint: $50 a month (Unlimited high speed except for streaming gaming up to 8mb)
- AT & T: $20 a month (50mb fibre)
- Verizon: $80 a month
7. Cost of Clothing, Personal Items, Gym and Leisure
In New York, the average annual temperature is around 12.7°C. January is typically the coldest month with average highs around 4°C and lows around -3°C, while July is usually the hottest month with average highs around 29°C. The wettest month tends to be May, but precipitation is relatively evenly distributed throughout the year.
Here are some clothing prices, together with other useful prices.
- Pair of Jeans: $67.00
- Summer Dress: $53.00
- Running Shoes (Trainers): $96.00
- Business Shoes: $150.00
- Short Doctor’s Visit (15 mins): $50.00
- Deodorant: $3.50
- Shampoo: $3.00
- Toilet Paper (4 rolls): $4.00
- Gym Membership: $115.00
- Movie (cinema) Ticket: $18.00
8. Cost of Owning a Car and Driving a Car in New York
Everyone in the US drives on the right. If you’re moving to New York from within the US, you’ll be able to keep your license but need to update your address to your new one.
You can drive on a foreign license for up to 12 months as a tourist but after that, you will need to get an American license. If you are working or studying in the US, you can drive on your foreign license for 30 days. If you want to exchange your foreign driver’s license you have to follow the process here.
Here are some other sample costs of owning and operating a car in New York:
- Volkswagen Golf: $25,000+
- 1 litre (¼ gallon) of Gas (petrol): $1.12
Ways To Save Money on Driving in New York:
- Car sharing or pooling is one way to save money. Try CarpoolWorld.
- Taxis can sometimes be a cheaper option, especially if you are going to have to park all day. Try Uber or Lyft.
9. Taxes in New York
The base state sales tax rate in New York is 4%. However, local jurisdictions impose additional sales tax which makes the total sales tax rate range from 7% to 8.875% depending on the specific location within the state.
Whether you own or rent your home, you will be subject to property tax based on the area in which you live and the size of the property you live in. Learn more about property tax in New York at Property Tax.
Finally, if you decide to buy a flat or house in New York you’ll have to pay real estate transfer tax.
10. Flight Costs from New York
If you do make the move to New York, here’s approximately how much it will cost to fly to other major world cities based on the lowest, one-way fares from Skyscanner as of mid-2023:
- London: $400
- Los Angeles: $100
- Toronto: $75
- Vancouver: $175
- Dubai: $650
- Sydney: $710
- Melbourne: $800
- Cape Town: $700
- Hong Kong: $1,000
Other Tips on Moving to New York:
The costs and pricing above should give you a good idea of the cost of living in New York but perhaps the following extra tips will make your move go smoothly.
11. Moving to New York Alone
Moving anywhere can be a lonely experience, but moving to a new city can be especially daunting. Here are a few tips about settling in New York.
- Meetups: There are many Meetup groups to choose from. You will definitely find something to join which will help you to settle in.
- Attend Local Events: New York always has something going on. Have a look at NYC.com.
12. Moving to New York with a Family
New York offers a wealth of family-friendly activities, including world-class museums, parks, and educational experiences, making it attractive for families. However, crime rates can vary significantly. New York City has seen a decrease in crime over the past few decades, but there are still neighbourhoods with higher crime rates than others.
- New Parents (or parents to be): There are free and paid antenatal classes and courses. Have a look at US News.
- Live in a Family-friendly Area: Outside of New York City, suburbs in Westchester County, such as Scarsdale or Chappaqua, or on Long Island, such as Great Neck or Manhasset, are popular with families for their excellent school districts and community-oriented environments.
- Find Things To Do With The Kids: There are many activities for families living in New York. Have a look at the following sites to be inspired – take a look at Time Out.
13. Moving to New York for Work
While it is possible to move to New York without a job, it makes sense to ensure there are jobs in your field before you make the move. The key industries in New York include finance, healthcare, professional and technical services, retail trade, and education, with New York City being a global hub for finance and media. The unemployment rate currently sits at around 7.7%, slightly higher than the national average.
Here are a few things to consider when moving for work:
- Salary: Salaries vary enormously depending on which industry you are in. The costs we outlined above should give you a rough idea of how much more you’ll want to make the move worthwhile. You can also check salary ranges on sites such as Payscale for the specific state.
- How To Find Work: If you want to have a job lined up before you move to New York, but aren’t sure where to begin, the following sites are good places to start: Monster and Indeed. You may also want to Google recruiters in your industry, as they can often help land you some initial interviews as well.
14. Moving to New York from Australia
There’s a small group of Australians living and working in New York, if you are thinking of joining them, here are a few things to consider.
- Size Comparison: 60% of Victoria’s area is similar in size to New York.
- Join Expat Groups: There are so few Australians in New York that there isn’t a dedicated site. However, you can always start your own Australian Meetup group.
15. Moving to New York from Canada
There’s a small group of Canadians living in New York. If you’re considering making the move from Canada here are a few things to consider.
- Size: One-third of Newfoundland and Labrador are around the same size as New York.
- Expat Groups: Meeting up with fellow Canadians helps the moving process. Start a Canadian Meetup group.
16. Moving to New York from the United Kingdom
There’s a small number of Brits living in New York. If you are thinking of making the move from the UK to join them, then here are a few things to consider.
- Size: New York comprises around 60% of the land area in the UK.
- Expat Groups: If you want to join up with fellow Brits in New York, then start your own British Meetup group.
Hopefully, the tips and costs above are helpful. If want to get started pricing out how much it will cost you to move to New York you can start by comparing moving quotes here.