{"id":1632,"date":"2014-03-18T01:01:09","date_gmt":"2014-03-18T05:01:09","guid":{"rendered":"http:\/\/www.renthop.com\/news\/?p=1632"},"modified":"2014-03-18T01:02:55","modified_gmt":"2014-03-18T05:02:55","slug":"looking-at-the-hidden-costs-of-living-in-new-york","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/looking-at-the-hidden-costs-of-living-in-new-york\/","title":{"rendered":"Looking at the Hidden Costs of Living in New York"},"content":{"rendered":"

Today, we’re exploring the hidden costs of living in New York<\/a>. We’ve looked at three key expenses\u2014food, travel, and entertainment\u2014to see how they vary across the boroughs. While the numbers aren’t the same everywhere (New York is expensive!), the concept is that when you’re considering where to live, there are lots of variables that aren’t included in the rent.<\/p>\n

Rental Costs in New York City<\/h2>\n

When choosing an apartment, the first thing you have to ask is \u201cHow much is the rent?\u201d Finding an apartment with a rent you can afford<\/a> is the first step \u2013 but there\u2019s a host of other hidden fees that factor into the total cost of living. We’re taking a closer look at the extra expenses that affect how much you ultimately have to pay using recent data from New York’s five boroughs. Though everyone\u2019s expenses are different, there are three that are certain: food, travel, and entertainment.<\/p>\n

First, some average monthly spending information (excluding rent and mortgage) developed using anonymized Visa and Mastercard transaction information by Bundle\u00a0and data from the 2012 American Community Survey:<\/p>\n\n\n\n\n\n\n
\u00a0<\/b><\/td>\nBrooklyn<\/b><\/td>\nManhattan<\/b><\/td>\nQueens*
\n<\/b><\/a><\/b><\/td>\n		Bronx<\/b><\/td>\nStaten Island<\/b>\u00a0<\/b><\/td>\n<\/tr>\n
Typical HH Income<\/b>(2012 Census)<\/b><\/td>\n\n

$45,215<\/b><\/p>\n<\/td>\n

\n

$68,370<\/b><\/p>\n<\/td>\n

\n

$56,780<\/b><\/p>\n<\/td>\n

\n

$34,300<\/b><\/p>\n<\/td>\n

\n

$73,496<\/b><\/p>\n<\/td>\n<\/tr>\n

Monthly Non-Housing Related Spend <\/b><\/td>\n\n

$1,793<\/b><\/p>\n<\/td>\n

\n

$3,832<\/b><\/p>\n<\/td>\n

\n

$1,906<\/b><\/p>\n<\/td>\n

\n

$1,256<\/b><\/p>\n<\/td>\n

\n

$2,012<\/b><\/p>\n<\/td>\n<\/tr>\n

% of Typical Income<\/b><\/td>\n\n

48%<\/b><\/p>\n<\/td>\n

\n

67%<\/b><\/p>\n<\/td>\n

\n

40%<\/b><\/p>\n<\/td>\n

\n

44%<\/b><\/p>\n<\/td>\n

\n

33%<\/b><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

* No aggregate data for Queens<\/a> is available; data in this table and all other tables in this post for Queens represents averages for Queens Village, NY.<\/p>\n

Two things jump out. First, Manhattanites<\/a> pay <\/span>far more <\/b>to eat, travel and play than do residents of any other borough \u2013 nearly twice as much as the next cheaper options. Second, residents of the Bronx<\/a> pay <\/span>far less<\/b> than residents of other boroughs for the same activities.<\/span><\/p>\n

Editor’s Note: RentHop now provides an average rents page<\/a> that shows a dynamic view of costs in various areas.\u00a0<\/em><\/p>\n

Hidden Cost of Food<\/h2>\n\n\n\n\n\n\n
\u00a0<\/b><\/td>\nBronx<\/b><\/td>\nStaten Island<\/b>\u00a0<\/b><\/td>\nQueens*
\n<\/b><\/a><\/b><\/td>\n		Brooklyn<\/b><\/td>\nManhattan<\/b><\/td>\n<\/tr>\n
Groceries<\/b>\u00a0<\/b><\/td>\n$179<\/b><\/td>\n$299<\/b><\/td>\n$295<\/b><\/td>\n$321<\/b><\/td>\n$555<\/b><\/td>\n<\/tr>\n
Dining Out<\/b>\u00a0<\/b><\/td>\n$123<\/b><\/td>\n$201<\/b><\/td>\n$211<\/b><\/td>\n$216<\/b><\/td>\n$805<\/b><\/td>\n<\/tr>\n
Total Food Spending<\/b><\/td>\n$302 <\/b><\/td>\n$500 <\/b><\/td>\n$506 <\/b><\/td>\n$537 <\/b><\/td>\n$1,360 <\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Food spending in NYC heavily depends on the borough you live in. Bronx residents spend the least, averaging $300 a month on groceries and dining out. Brooklyn, Queens and Staten Island residents spend almost 70% more, averaging $500 a month. But Manhattanites literally take the cake, spending 250% to 450% more than other borough residents.<\/p>\n

Food Access<\/h3>\n

While you may think that this is a clear sign that you should live in the outer boroughs, be aware that the further out you get, the more likely it is that you will encounter a “food desert” where access and variety is limited to bodegas and small markets.\u00a0Food deserts can cause many health issues within a community, but for someone moving to the area, the issue becomes the necessity to leave the neighborhood should you want a quality grocery store. Depending on how great that distance is, how often you go (or have cravings for things you can\u2019t run out and get), and whether by train or cab, lack of access can be a tremendous issue.<\/p>\n

The interactive map at foodcensus.org<\/a> shows the kinds of stores available (grouped as small stores, specialty stores, and large stores), with names and addresses, for 30 Brooklyn neighborhoods.\u00a0Though not exhaustive, the map makes it clear that some neighborhoods \u2013 the ones that are less expensive \u2013 aren\u2019t close to significant food sources. There\u2019s a less-detailed but still exhaustive nationwide map provided by the US Department of Agriculture that can help you compare both income levels and food deserts across the boroughs.<\/p>\n

Learn more:<\/p>\n