What is the cost of living in. Known for its legendary skyline and status as a true megacity, New York City attracts thousands of new residents every year. Judging by the fact that more than 8 million people live in New York City, I suppose a good number can figure that out. For car owners, that's the cost of buying, maintaining, insuring, refueling and storing their vehicle.
We've got you covered with a detailed analysis of New York City's hidden living costs, including parking costs. You should consider this cost in addition to the 10,375% tax and an additional 8% surtax on parking, garage or car storage in Manhattan. Sure, I would love it if it were cheaper to live in New York City, but in the same way, there are more than enough resources available in the Big Apple to reduce expenses and even eliminate entire categories of expenses, goodbye to car payments. Of course, New York City is famous for its gastronomic offerings, and those who choose to go out to dinner regularly will see their food budget skyrocket.
This is particularly true for New York residents who want to be in the center of everything and live in Manhattan. When budgeting for living comfortably in a new city, it's important to use the standard rule of three. It's a well-known fact that New York City has a high cost of living due, in large part, to its notoriously high rental prices. The average cost of health insurance for an intermediate-level health plan in the stock market (note that these numbers change every year).
If you're okay with leaving your car, New York's public transportation system is one of the best, though perhaps not the safest, in the country. The vast majority of New York residents commute to work by public transportation, biking, or walking. It's hard to live comfortably in a city that requires you to spend most of your salary on rent. Whether you're a culture buff, an art lover, or just looking for an affordable way to spend a few hours on the weekend, New York City's museums will.
