The Cost of Living, the Cost of New York
Posted on June 2, 2008
Filed Under Apartment Living | 18 Comments
Economists in the government are some of the most callous people in the world. When calculating inflation, they take out changes in food and fuel in order to stabilize the monthly and annual inflation numbers. The numbers in this “core index” are then bandied about across the media as the true inflation rate.
That may work well and fine for your favorite international corporation operating out the local Death Star, but for regular people, food and fuel are some of the biggest parts of their budget. Hence the disconnect between the low inflation numbers in the media and your wallet that seems to magically eat a few extra twenty dollar bills each week.
The situation in the country as a whole is getting pretty crazy, especially as oil prices start to nip at the heels of the embargo-level prices of the 1970s. But here in New York City, the cost of living is getting almost surreal.
Another quick lesson in inflation: Like unemployment, it is an incredibly regionalized phenomenon. Not only will prices vary from region to region, but from city to city. There will even be large variances in the inflation rate of different neighborhoods of a city.
So, as real estate prices, food prices, subway prices – basically every type of price, besides the prices it costs to employ someone… also known as wages – continues to go up, more and more people are getting priced out of the parts of New York City they want to live in. Indeed, census data indicates that the cost of living in New York City has gone up an incredibly painful 90% in the last twenty years.
The largest part of that jump has come from housing, which has increased 106% during that same time frame. With spending on residential building up about 14% this year alone, more apartments are being built this year than last year, but not nearly at a rate fast enough to keep up with the increase in demand, especially in Manhattan.
So what’s going to happen? One is inclined to think that people will continue to get by, like they always have. People might have to work a bit longer, and commute just a bit longer, but the city will look basically the same in thirty years as it does now.
It’s a funny difference:In most American cities, the term “inner city” is associated with the poorest parts of an urban area. In Paris, though, the poorest parts are the outer suburbs that ring around the city. There are numerous reasons for this, but one of the more important is simply that Paris has been around a whole lot longer than any American city.
The poor and even middle class are often priced out of the center of cities, until that city “center” becomes the whole city, and workers are
relegated to long commutes into the city and back out again at night.
My suggestion? It may be expensive now, but it’s only going to get more expensive. So if you want to live in Manhattan or any other central part of New York City, as crazy as it sounds, now is as good as it is going to get. New websites like CityCribs.com makes the process of finding a New York apartment much easier than it used to be.
Watch the video related to cost of living in an apartment
School interview about rising cost of living
Help answer the question about cost of living in an apartment
How much is the average cost of living in an apartment in California?Rent not included, just utilities and food prices.
Clearly, none of you read the details. RENT NOT INCLUDED. I'm asking for the average cost of electricity per month, food, etc.
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18 Responses to “The Cost of Living, the Cost of New York”
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You forgot to mention transportation cost!!!
Damn subway for Tokyo is sure expensive!!!
looooool. i mean yea totally and he’s also kinda like aww shit there goes my laptop ok ok play it cool u can’t stop the recording now we’v gone so far. *tries to wipe it out as much as he cans in the next 2 secs while looking on the camera and talking*
wow, internet will cost me P3000 (converted in peso) in Tokyo compared to P1200 that i pay in my country. Nevertheless, from what i heard the salary will compensate for the high standard of living there.
Rent is cheaper and so are the taxes… the two main reason why people live in NJ and commute to NYC.
If you ignore rent, you can live pretty cheap (compared to what people think). The cost of clothes at the Gap is the same in NYC and the rest of the country. Subway is $76 for unlimited monthy use. You can get a lunch/dinner for less than $10 each (or you can eat at Wendy's, TacoBell, McDonalds,.. for $5/meal).
As for "staying" cost, that depends on where you stay. You could sublet a studio in an outer borough for $800/month or you could spent $800/day on a Manhattan fancy hotel.
Bring you clothes, you are only going to be here for 2 months. You can pay the laudrymat $0.50/pound (less than $20 for a big bag) to do your laundry for you.
On the right side of the web page, directly underneath the picture of me where it says “TokyoCooney” is a text box. In small blue text it says “more info” click that and read the text description of the video. I believe in you! Yes you can! You can do it!
The cost for Tuition Fees for international students varies from $5000 to $30000 per year. The cost of living in USA depends on location. For example States like Washington, California and area around New York is expensive.
In general, students from countries like India, Bangladesh, Nepal, Pakistan, China, Vietnam, Taiwan – the cost of living may vary from $4000 to $9000.
It is assumed that students will live in shared Apartments, Live out of Campus and have less Telephone bills and other expenses are at bay. Most of (nearly) all expenses can be met while working on campus Jobs. The hourly pay for on Campus jobs Pay from $5.15 to $15 per hour. Foreign Students can work for 20 hrs per week and 40 hrs per week during summer. Students may be allowed to work out of campus (Internship) after nine months of their arrival at the university.
Use bank rates calculator – link below. It will really depend on what city you are willing to live in for both states – that is the only way you will get a fair assessment.
I've lived in NY – I always say I will move back when I have excess cash and can live in Manhatten.
http://www.bankrate.com/calculators/savings/moving-cost-of-living-calculator.aspx
i think this is the first video on youtube that had the camera on someone’s face, and that someone was talking about something not exactly humorous that I actually watched from beginning to end… I want to go to Tokyo
Its written in the video description on the side. It always is.
It's actually rather expensive, although certain places are cheaper than others. My sister, who is twenty-three years old, lives in a small apartment in Brooklyn. Although I've never discussed rent, she says that it's cheap for the most part, but still not a steal. If you're looking to live in Manhattan, I say screw it; looking for a cheap apartment in Manhattan is a bit of a lost cause. You're better off aiming for Queens and Brooklyn; they seem to have the cheapest apartments from what I have heard. Again, I'm no expert, as I live with my parents, and am not quite knowledgable on the home-hunting scene, but from what I have heard from my sister, Brooklyn and Queens seem to be the best deals.
Public transportation is cheap. One subway ride is $2.25, and I think it's the same for buses — I don't take the bus often, so I'm not quite sure. Taxis get you where you want to go quicker, but if you really want to save money, you would take the buses and trains where you want to go. It's cheaper, and you can save a bundle if you don't use your car as often as you would need to if you lived in a more suburban area without many train and bus stops.
Minimum wage in New York state is $7.25 per hour.
All the best ♥
At 2:25, did you knock over a glass? Your face for a second is like…’Crap…there goes that vodka…’
does anybody know the name of this song? HELP PLEASE.
As long as your housing, etc. is all paid for, you can live decently cheap in NYC if you know where to go and what to do. I have no problems living off $15 per day, including drinks, food and fun.
Try eating falafel, usually $2.50 and you're full. Buy your own food and cook. Maybe eat Ramen every once and a while. Order your groceries from Fresh Direct. Go to the free museums like the MET and the Natural History Museum (They only ask for a donation). Spend a lot of time walking around and people watching. Hit up happy hour for drinks. There are plenty that have $1 drafts until 6pm and many times free food at the bar until 7pm. Spend most of your time in Greenwich Village and stay away from the tourist traps in Midtown.
This site is about saving money in NYC. You may want to check it out. But, if you budget well, you can easily live off os $10 – 20 per day, depending how frugal you are. I even had a friend who made it on $5 per day.
http://www.CheapInTheCity.com
Good luck!
sorry, still cannot find the name. CAN YOU PLEASE TELL ME. THANKS.
If you don't have to worry about rent, 1600/mo is fine. That's more than enough, you probably won't have to take public transportation either.
They are both pretty big states, you'll have to be more specific. The cost of living in, say, Dallas or New York City would be much, much higher than living out in the middle of nowhere.
alot!!