How Much Does it Cost to Live in New York City? (A Look at My Personal Expenses)
Cue obligatory "it depends!" But here's a peak behind the curtain at the (actual) cost of living in the most expensive city in the world.
So, one hundred years ago (before I moved my newsletter to substack) I used to do a fun little Friday roundup where I answered reader questions and no topic was off the table. It quickly became one of my favorite series because it sparked thoughtful, surprising, and sometimes funny conversations.
Perhaps unsurprisingly, one of the most common questions centered around the cost of living in New York. Checks out, considering 99% of visiting friends ask the same question within days of arriving. The city has that magic touch!
So, let’s talk shop. Today, I’m sharing a transparent look at my personal costs of living in NYC (with actual numbers).
A bit of background
Before we dive in, some context might be helpful. I’m a very average person, I did not come from money. I grew up believing that college was my ticket out of financial hardship — and I needed that hope. I wanted to see the world. I wanted to eat croissants in Paris one day!
I worked two jobs while attending college to graduate without debt. My parents encouraged community college (even though I dreamed of going out of state!!), and I later transferred to state university to finish my degree. Nothing fancy on the education front!
During my senior year, I landed a part-time internship that turned into a full-time job (funny enough, I got the official offer the same day I flew out for my first trip to New York, I caught a red eye just hours later!).
You can probably see where this is going.
That trip changed everything, I fell in love with New York and feverishly plotted an escape. The only problem? I had no idea how to actually make the leap, especially after looking up the cost of renting in NYC.
Anyway, life went on. The job offer turned into six years which was just long enough to vest in a pension (I am not a risk taker). Along the way, I spent my weekends dipping into entrepreneurship, inspired by Will, who is way more risk-tolerant than me.
That foray into entrepreneurship gave me the chance to leave my office job and move to New York. I’m sharing these details because I think it’s important to be clear: there’s no trust fund or hidden safety net in the background!
I say this because it’s easy to assume someone “comes from money” or “married into it,” but that’s not our story. We’re just two regular people who worked toward a shared dream. Moving to New York was not an easy task by any stretch of the imagination, but we are so happy to be here!
Whew, now we can get to the meat and potatoes of it all.
How Much Does it Cost to live in New York City? Our Monthly Expenses
The most common question I get, by far, is: 'What do you pay for rent?' So let’s start with that.