Perez Hilton: The Cost of Living in New York City

Ahhh, New York City. The Mecca of all that is glamorous, rich, luxurious and exciting. To some, the good life. So, you’re ready to pack your bags and head for the big city? Slow down there, big dreamer. The cost of

Perez Hilton

Perez Hilton (Photo credit: angela n.)

EVERYTHING in the city is higher than the national average, meaning your 70K per year needs to be 166K in New York City to keep your current lifestyle. Let’s talk about the basics here: lodging, food and entertainment:

Apartments in New York City are insanely high. Like, find a roommate and hang a curtain down the center of your one bedroom to make two bedrooms high. The average Manhattan apartment costs $3,973.00 per month, almost $2,800.00 more than rentals elsewhere in the country. Looking to buy? The average sale price of a home in Manhattan is $1.46 million, compared to under $230,000.00 elsewhere. I suppose the good news is that in New York City, you don’t have to own your home for an elite status, as is required in other areas. Considering a family of four making less than $68,700 per year qualifies for public housing in New York City – you better be making bank if you plan to check your mailbox next to any celebrities.

If rent has not broken you, you must also eat! I mean, you won’t be eating MUCH after paying rent, but you will need a nibble here and there. It will come as no surprise that the restaurants in New York City are pricey. Celebrity favorites such as the Four Seasons, Le Cirque and Nobu are over $50.00 PER PERSON. I just choked on my Diet Coke. Eateries such as McDonald’s and local Mexican restaurants are abundant, but they too are higher priced than elsewhere. Your best bet? Learn to cook. Eat leftovers. Use coupons. Pair those coupons with sale items. Find a generous and rich companion. Skip meals.

As far as entertainment goes, I’m afraid at this point, your only entertainment will be browsing the web for supplementary forms of income. Seriously, unless you are in the 1%, utilize the many forms of free entertainment that New York City has to offer. A jog through Central Park, window shopping or a walk through the city all offer ample opportunity for fun free of charge. Sadly, Broadway plays and designer shopping must be left to the rich and famous.

In conclusion, one can lead a good, but not extravagant, life in New York City on a normal income. Be prepared to work hard, save hard and live frugally. Unless you’re living on money that is coming from an investment or dividend, you shouldn’t expect anything more. Listen, New York City is exciting, good grief, it’s the “city that never sleeps,” but it isn’t cheap. Of course, the people I know who have lived there for a short stint of time had little money and have since moved on – with no regrets and countless memories from that season of life.

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      Perez Hilton: The Cost of Living in New York City

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