New York City, NY

Is It Too Expensive To Live In The New York In 2021?

Ghani Mengal

The true cost of living in an innovative but extremely expensive city where housing, healthcare, sales taxes all are too high.
Is New York Too Expensive?Drew Graham From Unsplash

Last week I wrote an article on how one of my friends went to Silicon Valley and what is the true cost of living in Silicon Valley. Many of my friends and audience were not expecting me to write about Silicon Valley. Because I've never been there. So rather they ask me to write about New York City. And here is the article about the city of lights.

Welcome To The New York, Center Of The Universe, Bottom Of My Heart. Well, actually New York isn't the center of the universe, but people in the 1800s were so in love with this city so they literally believed that this is the center of the World and then eventually they replace the Universe instead of the world. But how much it costs to live in New York? Let me share the true cost of this city with you so you can better understand what it means to live here.

Keep in mind that I would be calculating the expenses for a 6 persons (adult) family. And at the end, we will calculate a month of expenses for the family of 6.

Apartment Cost

In New York, if you got a nice apartment at a reasonable price, then boy you are the luckiest person in the city. You can find prices of apartments starting from $300 to $500 per day. Not just that the expensive ones could cost $2000 per day. So I would say that there are 3 types of apartments that you can rent out.

  1. Average = $6500 per month
  2. Expensive = $12000 per month
  3. Luxury = $18000 per month

The surprising thing in the US is that location determines everything. If you are in a good neighborhood that means you have great schools that are free, you have great police, you have low crime rates, you have a place where you want to live. And you can find the exact same house but in a worse neighborhood. Then you will encounter all the worse issues. So, you are actually paying not for the house itself, but you are paying for what is surrounding the house. So yeah, the same size apartment could cost you much cheaper if you choose a location where the neighborhood isn't much good.

If you love cheap traveling like me. You can rent out an apartment from Airbnb a lot cheaper. Let's say you are 6 people traveling together. And you are planning to stay in New York for 28 days (almost a month). You could search for an apartment on Airbnb for 4 guests. And you will set your in and out, date, then browse through the listings and I guarantee you that you could find a lot cheaper apartments. It's even possible that you could find apartments for $100 per day.


If you have a child who is younger than four years old, you would need to pay for childcare yourself. Which costs you around $2700 to $10,000.


I think it's possible to live in Silicon Valley without a car. You could travel on Bus which is cheap and eco-friendly, there are even trains you can enjoy trains. But still, for some reason, if you want to rent a car, then there are also services available. It costs around $400 to $800 a month to lease something popular like Toyota or Honda and then you have to pay your car insurance. Gas really depends on how much you travel, but I would say $300 a month.

Health Insurance

It really depends, If you are coming here to New York because you got an offer from a big company like IBM or Bank Of China then they are gonna take care of your insurance and your family's insurance as well. But if you are self-employed like me then you're gonna have to take care of yourself. On average, people pay $484 per person a month for insurance.

Electricity, Gas, Water, Haircuts, And Internet

If you live in an apartment complex a lot of things are taken care of by your management company. But in some cases, you have to pay for some additional services:

  1. Electricity And Gas you have to pay around $250 a month if you use heavy electrical appliances.
  2. For Trash, you have to pay something like $30 a month.
  3. For water, you have to pay $90 a month.
  4. For haircuts, you have to pay $60 a month.
  5. For the Internet, you have to around $70 a month.

Life Insurance And CPA

Another thing that I realized, In the US a lot of people have life insurance. On average it costs $50 a month for life insurance. But again, if you work for a bigger company then they will take care of you and if you are self-employed then you have to take care of yourself.

And a lot of people in America have their own CPA, have their own lawyer. And again, depending on how many accounts you have, how many companies you have, I would say at least it costs around $200 a year for a CPA who would help you with your annual taxes.

Food And Groceries

In the US and especially in New York, there are all types of supermarkets and stores where you can buy your groceries. There are expensive stores and supermarkets, there is the average once, and finally, there are also the cheapest stores where you can buy things in bulk for your entire year. But I think this is something where I cannot tell how much it's gonna cost you. Because everyone's shopping needs and everyone's budget isn't much clear. So just add your normal groceries and food price here. I'm going to add $480 per person in this section. Which is around $2,880 for 6 people.

Beauty Services

Let's start with manicures for girls, Once I talked to a girl from New York and asked her how much she spends on manicures? She said to me, "there are a lot of different places where you can get it and prices are also expensive and cheap". She said she spends something around $35 to $60 a month on manicures. But she went on and give me a tip, she said "if any girl wants some beauty service here, then I highly recommend Russians. They do a really nice job."


You can join an average gym, which costs something around $109 to $159. But I love to exercise by myself. I watch videos and I have some home workout equipment. I like to run outside. And I do this without paying anyone. You can also work out at home without spending anything at all.

Finally, The Conclusion

Finally, I would like to conclude that New York has 3 different versions:

1- The first is the luxuries one. If you want to drive a luxury car, live in a luxury house, go to luxury and restaurants and gyms, then New York is an expensive place.

2- The second version of New York is the average one. You can go to average places, average stores, average gyms, then don't worry New York isn't that much expensive for you.

3- And finally, there is a cheaper New York version. You can live without spending much money, you can save money on almost everything If you have a plan to do things in the right way.

But after calculating the expenses that I mention above + taxes, on average (for a family of 6 people) it costs around $17,078 to $21,553 a month to live in New York.

Best Of Luck!

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Member Of Freelancers Union (USA), Freelance Writer!, and Digital Creator. Ghani Mengal is an enthusiast Freelance blogger and digital marketer. His content has been published and featured on many popular blogs, websites, and publications. Including TeelFeed,, Data-Driven Investor, TextSniper, Scientific Publication The Predict, The Startup, The Ascent, Heart Affairs, Illumination, And The List goes on.

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