{"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 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 is the first step \u2013 but there\u2019s a host of other \u201chidden fees\u201d that factor into the total cost of living. That\u2019s why we decided to take 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<\/a>\u00a0and data from the 2012 American Community Survey<\/a>:<\/p>\nRental Costs in New York City<\/h2>\n
\u00a0<\/b><\/td>\n | Brooklyn<\/b><\/td>\n | Manhattan<\/b><\/td>\n | Queens* \n<\/b><\/a><\/b><\/td>\n | Bronx<\/b><\/td>\n | Staten Island<\/b>\u00a0<\/b><\/td>\n<\/tr>\nTypical 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 $1,793<\/b><\/p>\n<\/td>\n $3,832<\/b><\/p>\n<\/td>\n $1,906<\/b><\/p>\n<\/td>\n $1,256<\/b><\/p>\n<\/td>\n $2,012<\/b><\/p>\n<\/td>\n<\/tr>\n 48%<\/b><\/p>\n<\/td>\n 67%<\/b><\/p>\n<\/td>\n 40%<\/b><\/p>\n<\/td>\n 44%<\/b><\/p>\n<\/td>\n 33%<\/b><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n * No aggregate data for Queens 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 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 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 <\/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 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<\/a> provided by the US Department of Agriculture that can help you compare both income levels and food deserts across the boroughs.<\/p>\n Say you find a great place you can actually afford, near a grocery store and laundromat \u2013 another place no one wants to haul bags to and from \u2013 but it\u2019s far from the train. How does that factor into your everyday costs?<\/span><\/p>\n Unlike several other American cities, a one-way trip on the New York City subway is the same price no matter how far you\u2019re going. So living in Brooklyn but working in the Bronx won\u2019t cost you more in terms of transit fare. But if you live far from the train, time spent walking to and from the train must be factored in to your total commute time. If you\u2019re 12 blocks from the subway, that\u2019s at least 15 minutes added to every commute. With all that walking, especially come wintertime, most people are liable to take a cab. For a short distance (depending on who your driver is), a car service will charge you $7-8. It\u2019s deceptively cheap. It\u2019s the kind of thing that quickly adds up.<\/p>\n |