With most people spending around $4,130 per month just to live here, it's definitely one of America's priciest cities. But don't worry! With some smart planning and budgeting tricks, you can totally make NYC life work without going broke.
Learn more about America's priciest cities.
Before you start packing, let's get real about what you'll be spending each month:
Total: About $4,130 each month
If you've got a family, these numbers go up quite a bit – a family of four typically spends around $8,925 monthly when renting a 2-bedroom place.
No surprises here – your apartment will be your biggest expense in NYC. Here's what rent typically costs in different parts of the city:
Wondering how do people afford to live in NYC? One of the most common ways is getting roommates to split the rent. This can slash your housing costs and make it possible to live in neighborhoods that would otherwise be way out of budget.
If you're looking for the cheapest way to live in NYC, where you choose to live makes a huge difference. Check out these more budget-friendly spots:
Moving with kids? Our guide on moving with kids to NYC has tons of tips for families.
If safety is a big concern (and when isn't it?), take a look at our guide to the safest neighborhoods in NYC.
Here's some good news – you probably won't need a car in NYC! The subway and buses can get you pretty much anywhere:
Lots of people walk or bike too, which saves money and keeps you in shape. If you're trying to decide between living in Manhattan vs. Brooklyn, think about how long your commute would be from each place.
Check out our comparison of Manhattan vs. Brooklyn.
Food in NYC can be expensive, but there are plenty of ways to save:
According to recent data, a single person needs to make about $69,282 a year before taxes to live comfortably in NYC. For a couple with two kids, that jumps to around $159,188.
Here are some down-to-earth strategies that can make NYC life more affordable:
These magical unicorns typically:
The best part? Your rent can only go up by a certain amount each year, giving your wallet some much-needed stability.
Parking in NYC can cost more than rent in some other cities! Plus there's insurance, gas, and repairs. The subway, your feet, or a bike will get you where you need to go much cheaper.
Join local "Buy Nothing" Facebook groups – New Yorkers are always giving away cool stuff they don't need anymore. For more info, visit the Buy Nothing Project.
NYC has tons of free things to do:
Yes, you can – but you'll need to be careful with your money:
This leaves about $400 a month for savings or other stuff – tight but doable!
With a bigger salary, you'll have more breathing room but should still watch your spending. You might be able to afford:
If NYC prices are making you sweat, the cheapest place to live near NYC might be just outside the city. Our guide to the best suburbs near NYC shows you places with reasonable commutes and lower living costs.
Don't fall into these common traps that we see in our NYC moving mistakes guide:
While living in NYC costs a lot, it offers amazing opportunities for careers, culture, and personal growth. Check out the pros and cons of living in New York City to see if it's right for you.
Once you've figured out your budget and found a place, our guide on everything you need to know about moving in NYC in 2025 has all the practical tips you need.
Despite the high costs, millions of people call New York home and absolutely love it. The city offers incredible culture, diverse communities, amazing job opportunities, and a special energy you can't find anywhere else.
With good planning, realistic expectations, and smart money management, you can find your place in the city that never sleeps without losing sleep over your bank account. By using the tips in this guide, you'll be ready to tackle the challenge of how to afford living in NYC.
Ready to make your move to the Big Apple? Contact ZeroMax Moving & Storage for a stress-free move with professionals who know all the ins and outs of NYC relocation.