Cost of Living in New York: New York City, famously known as “The Big Apple,” is a vibrant and diverse city filled with opportunities for work, education, and entertainment. It attracts people from all over the world, making it a dream destination for many. However, the cost of living in NYC is high, and managing expenses can be difficult.
Whether you’re planning to move, study, or work here, understanding the cost of living in New York is essential. From housing and transportation to food and entertainment, expenses in NYC can add up quickly. In this guide, we’ll break down the key costs, including rent, utilities, groceries, and daily expenses, to help you budget effectively in 2025.
Table of contents
- Cost of Living in New York for International Students
- Cost of Studying in New York
- Cost of Accommodation in New York
- Utility Bills in New York
- Transportation in NYC
- Food and Groceries
- Cost of Entertainment and Leisure
- Healthcare in New York
- Miscellaneous Expenses
- Factors Determining the Cost of Living in New York
- Tips on Reducing the Cost of Living in New York
- FAQs on the Cost of Living in New York 2025
Cost of Living in New York for International Students
The average cost of living in New York for international students ranges from USD 2,500 to USD 4,000 per month, depending on accommodation, lifestyle, and personal expenses. Rent is the biggest cost, typically between USD 2,000 – USD 3,000 per month. Other essential expenses, such as transportation, utilities, and groceries, also add to the budget. Below is a table where you can check the estimated costs of living in NYC.
| Factors | Average Cost |
| Accommodation | USD 2,000 – USD 3,000 per month |
| Groceries | USD 1.50 – USD 15 per month |
| Transport | Up to USD 130 per month |
| Utilities | USD 100 – USD 200 per month |
| Entertainment and Shopping | USD 50 – USD 200 per month |
| Housemaid | USD 100 – USD 150 per visit |
| Wi-Fi | USD 50 – USD 100 per month |
| Bus Pass/Metro Pass | USD 127 per month |
| Miscellaneous | USD 50 – USD 100 per month |
Note: The estimated cost of living in New York is as per the data available on the internet in January 2025. The data is subject to change.
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Cost of Studying in New York
The cost of studying in New York City varies depending on several factors. These factors include university chosen, program pursuing, field of education, etc. For an Indian student, the cost of studying varies between USD 32,000 to USD 40,000 annually. It is advised to keep the tuition fees in mind while planning to escalate your academic life to the next level in New York.
| Top Universities in New York | Tuition Fees |
| New York University | USD 62,796 |
| Columbia University | USD 65,139 |
| Fordham University | USD 58,467 |
| Yeshiva University | USD 51,800 |
| Cornell University | USD 68,380 |
Note: The estimated cost of living in New York is as per the data available on the internet in January 2025. The data is subject to change.
Cost of Accommodation in New York
The cost of accommodation is one of the primary expenses for an international student planning to study in any of the countries abroad. The cost of accommodation in New York varies as per the choices made by the students. Some international students prefer to reside inside the university campus while others choose to stay off campus. The cost of accommodation in New York depends on the location, amenities, and facilities.
Hostels and shared accommodations are often viewed as budget-friendly and practical choices for students. It’s important to plan your budget based on your selected accommodation option. Refer to the table below for the average costs of living arrangements in New York City.
| Accommodation in New York | Average Cost |
| One-bedroom Apartment in sub-urban areas | USD 700 monthly |
| One-bedroom Apartment in Downtown areas | USD 3,000 monthly |
| 85 sq. m. (900 sqft) furnished accommodation in an expensive area | USD 4,400 monthly |
| 85 sq. m. (900 sqft) furnished accommodation in a normal area | USD 2,800 monthly |
| 45 sq. m. (480 sqft) furnished studio in an expensive area | USD 4,000 monthly |
| 45 sq. m. (480 sqft) furnished studio in a normal area | USD 2,400 monthly |
| Private College/University hostels | USD 1200 annually |
| Public College/University hostels | USD 8,000 annually |
| Sharing rooms in hostels | USD 470 monthly |
Note: The estimated cost of living in New York is as per the data available on the internet in January 2025. The data is subject to change.
Utility Bills in New York
When planning finances for studying abroad in New York, it’s crucial to allocate a separate budget for utility expenses. Essential services such as electricity, gas, mobile plans, and unlimited internet packages significantly contribute to the monthly cost of living in New York.
To better manage these expenses, it’s recommended to monitor energy consumption and research cost-effective internet plans. Below is a detailed table outlining the average utility costs you can expect while living in New York City, helping you make informed financial decisions and maintain a balanced budget.
| Utility Bills | Average Cost |
| Utility Insurance | USD 150 monthly |
| Utility bill for 2 people in 85m2 flat | USD 197 monthly |
| Utility bill for 1 person in 45 m2 (480 sqft) studio | USD 114 monthly |
| Phone bill | USD 196.31 monthly |
| Internet 8 Mbps | USD 62 monthly |
| TV bills | USD 100 monthly |
| Gas | USD 3.93 per gallon |
| Water/ Electricity Bills | USD 200 monthly |
| Cleaning help | USD 25 hourly |
| Laundry detergent | USD 16 (3 l. ~ 100 oz.) |
Note: The estimated cost of utility bills in New York is as per the data available on the Internet in January 2025. The data is subject to change.
Transportation in NYC
Getting around in New York City can be an adventure in itself. Public transportation, such as the subway and buses, is a cost-effective way to commute to and from the university. However, it is advised to go for accommodation within the vicinity of your college.
This will help you a lot in saving transportation costs. Walking and cycling are other best options to save transportation costs while commuting daily. Check out the average cost of transportation in New York City below.
| Mode of Transportation | Average Cost |
| Monthly ticket for public transport | USD 138 monthly |
| Public Buses/ Vehicles | USD 120 monthly |
| Public Buses/ Vehicles (For Single Travel) | USD 3 per travel |
| 1 litre (1/4 gallon) of gas | USD 1.05 |
| Private Vehicle | USD 0.69 |
| Taxi or Cabs | USD 15 per 8 kilometres |
| Taxi trip on a business day | USD 34 basic tariff, 8 km. (5 miles) |
| Volkswagen Golf | USD 26,855 1.4 tsi 150 cv |
Note: The estimated cost of living in New York is as per the data available on the internet in January 2025. The data is subject to change.
Food and Groceries
New York City offers a diverse culinary scene, but dining out frequently can quickly add up. Budgeting for groceries and preparing meals at home can help control food expenses. If you want to decrease your annual budget, be sure to plan and cook your meals ahead of time. Consider shopping at local markets or grocery stores to find affordable options and cost-effective pricing.
Don’t miss to explore local markets and supermarkets for affordable and premium grocery shopping. Check out the average cost of food and groceries to plan your finances.
| Food and Groceries | Average Cost |
| Basic lunchtime menu in the business district | USD 21 |
| Combo meal in fast food restaurant | USD 12 |
| 500 gr of boneless chicken breast | USD 7 |
| 1 litre of whole-fat milk | USD 1.30 |
| 12 eggs, large | USD 5.56 |
| 1 kg of tomatoes | USD 6 |
| 1 kg of apples | USD 4.38 |
| 2 liters of Coca-Cola | USD 3.09 |
| Bread for 2 people for 1 day | USD 2.88 |
Note: The estimated cost of living in New York is as per the data available on the internet in January 2025. The data is subject to change.
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- Cost of Living in Nottingham: 2025 Updated Guide
Cost of Entertainment and Leisure
To escape from the monotonous academic schedule, it is really important to include the cost of entertainment while planning your finances. To go with the flow and maintain consistency and rhythm, some leisure activities are equally important. There are a plethora of options to keep you entertained throughout your academic career.
Add more excitement and fun to your New York journey with subway platforms converting into musical stages on weekends. Check out the table below and calculate the cost of entertainment and leisure as per your choices and habits.
| Modes of Entertainment | Average Cost |
| A basic dinner out for two in a neighborhood pub | USD 71 |
| 2 tickets to the movies | USD 37 |
| 2 tickets to the theatre (best available seats) | USD 318 |
| Dinner for two at an Italian restaurant | USD 139 |
| 1 cocktail drink in the downtown club | USD 20 |
| Cappuccino in the expat area of the city | USD 5.42 |
| 1 beer in a neighbourhood pub (500ml or 1pt.) | USD 10 |
| 1 package of Marlboro cigarettes | USD 16 |
| 1 month of gym membership in the business district | USD 140 |
| 1 min. of prepaid mobile tariff (no discounts or plans) | USD 0.50 |
| Sporting Activities | USD 100 |
| Concert Tickets | USD 100 |
| Tickets at Amusement Parks | USD 80 |
| Shopping | USD 300 |
Note: The estimated cost of living in New York is as per the data available on the internet in January 2025. The data is subject to change.
Healthcare in New York
While being in a foreign land where culture is so diversified, and there are a plethora of options for the gastronomic scene, it is mandatory to take good care of health. Be mindful of what you are eating and drinking to avoid any kind of health issues.
Although, health insurance is a mandatory expense for international students in the USA. Be sure to check out with your university as most of the universities provide insurance plans with the tuition fees. Also, check out the table below for the average cost of healthcare in New York.
| Healthcare in New York | Average Cost |
| Health Insurance | USD 600 to USD 1300 monthly |
| Doctor’s visits | USD 135.28 |
| Dentist visits | USD 116.71 |
| Optometrist visit | USD 127.43 |
| RX drug | USD 498.43 |
| Veterinary visit | USD 81.87 |
Note: The estimated cost of living in New York is as per the data available on the internet in January 2025. The data is subject to change.
Miscellaneous Expenses
Miscellaneous expenses may include textbooks, school supplies, personal items, and occasional leisure activities. Be sure to include miscellaneous expenses in your financial planning. This will help you out in covering unexpected expenses and other expenses that are required to maintain a balance between your healthy lifestyle and academics.
Below is the table compiled for you with common miscellaneous expenses and their average costs. Plan accordingly and allocate a portion of the budget to miscellaneous expenses as well.
| Miscellaneous Activities or Purchases | Average Cost |
| Household Items | USD 20 to USD 50 monthly |
| Medical Expenditures | USD 1,500 to USD 2,000 annually |
| Books, Stationery, Toiletries | USD 100 to USD 250 annually |
| Others | USD 500 to USD 1,000 annually |
Note: The estimated cost of living in New York is as per the data available on the internet in January 2025. The data is subject to change.
Factors Determining the Cost of Living in New York
The cost of living in New York is influenced by various factors that impact everyday expenses, from housing and transportation to food and entertainment. As one of the most expensive cities in the world, New York offers a dynamic lifestyle, but it comes with a high price tag. Here are 10 key factors that determine the cost of living in New York:
- Housing Costs – Rent, mortgage, and real estate prices vary by neighborhood.
- Food & Groceries – Expenses for dining out, grocery shopping, and essential items.
- Transportation – Subway fares, taxi services, car maintenance, and fuel costs.
- Utilities & Internet – Monthly bills for electricity, water, gas, and internet services.
- Healthcare Costs – Medical insurance, doctor visits, and prescription medications.
- Education & Childcare – School tuition, college fees, and daycare expenses.
- Taxes & Government Fees – State, city, and property taxes impacting income.
- Entertainment & Recreation – Costs of movies, nightlife, fitness, and cultural events.
- Job Market & Salaries – Employment opportunities and average income levels.
- Miscellaneous Expenses – Clothing, personal care, and emergency savings.
Tips on Reducing the Cost of Living in New York
Living in New York can be expensive, but with smart budgeting and strategic choices, you can cut costs without compromising on your lifestyle. Here are some effective tips to reduce the cost of living in New York:
- Choose Affordable Housing – Rent in cheaper areas like Queens or The Bronx, or share an apartment to split costs.
- Save on Food – Cook at home instead of eating out and buy groceries from discount stores or local markets.
- Use Public Transport – Get an unlimited MetroCard for the subway and buses, and walk or bike for short trips.
- Cut Utility Bills – Turn off lights when not needed, use energy-saving appliances, and find affordable internet plans.
- Find Cheaper Healthcare – Use employer-provided health insurance, check government programs, and visit community clinics for lower fees.
- Spend Less on Fun – Enjoy free parks, museums, and city events, and look for discounts on movies, gyms, and shows.
- Save on Education & Childcare – Choose public schools, apply for scholarships, and find community daycare services.
- Shop Smart – Buy during sales, use discount coupons, and shop at thrift stores or second-hand markets.
- Increase Your Income – Look for better job opportunities, do freelance work, or take up side gigs to earn extra.
- Plan Your Budget – Track your spending, set savings goals, and cut unnecessary expenses.
FAQs on the Cost of Living in New York 2025
The average cost of living in New York in 2025 for students ranges between $1,500 and $3,000 per month. This includes housing, utilities, food, transportation, and other miscellaneous expenses. The exact amount varies depending on lifestyle and accommodation choices.
Below are some of the most common and important tips you should not miss while studying in a foreign land.
– Never miss taking advantage of your student identity card.
– Grab the offers available on your student ID card for discounts.
– Prefer using public transportation to commute daily.
– Planning and cooking meals at home significantly reduces the cost.
– Plan a grocery day and grab it from some of the budget-friendly grocery stores.
Indeed, New York City boasts its well-connected public transportation system which an international student can easily afford. A monthly metro card for unlimited rides typically costs around USD 127, providing a cost-effective way for students to navigate the city.
Health insurance is a mandatory thing to live anywhere in the USA. Most of the universities offer insurance plans, and they generally include the cost of health insurance with tuition fees.
Yes, international students can open a bank account in New York City. For the details and requirements you need to check out the bank’s official website as it may vary from bank to bank.
New York is generally more expensive than most other U.S. cities, including Los Angeles and Chicago, especially when it comes to housing. However, some costs, like public transportation, may be cheaper compared to LA.
Accommodation is one of the biggest contributors to the cost of living in New York in 2025. Renting a shared apartment can cost between $800 and $1,500 per month, while living in a university hostel or dormitory may range from $600 to $1,200 monthly.
Utility expenses, which include electricity, gas, water, and internet, average around $150 to $300 per month in New York in 2025. Students can reduce these costs by choosing energy-efficient appliances and budget-friendly internet plans.
Dining out costs vary greatly. A casual meal at an inexpensive restaurant may cost USD 15–USD 25 per person, while a three-course meal at a mid-range restaurant can range from USD 40–USD 70 per person.
A single subway or bus ride costs USD 2.90, while a monthly unlimited MetroCard for unlimited rides on the subway and bus is USD 127.
Food costs in New York for students in 2025 typically range from $300 to $500 per month, depending on whether they cook at home or eat out frequently. Cooking meals at home and exploring student discounts at local grocery stores can help manage food expenses.
Transportation costs in New York in 2025 are relatively affordable for students, especially if they use public transit. A monthly MetroCard for unlimited subway and bus rides costs approximately $132, making it a cost-effective way to navigate the city.
A single person spends $300–$600 per month on groceries. Shopping at discount stores like Trader Joe’s, Aldi, or local markets can help save money.
Healthcare in New York is expensive without insurance. A basic health insurance plan can cost $200–$600 per month, while a single doctor’s visit without insurance can range from $100–$300.
Owning a car in New York is costly due to parking fees, insurance, and fuel. Monthly costs can be $500–$1,000, making public transport a more economical choice.
Studying in New York City is like a dream come true with lots of exciting and enriching experiences. But it is really important to plan the finances and budgets carefully. Strategic and advanced planning of budget and finances can ease living in New York. So, plan your things accordingly and make your academic journey more exciting. All the best and happy studying!
This blog was all about the cost of living in New York. Hope you like reading it. For booking the best accommodation abroad to start your study abroad experience you can contact Fly Homes at 1800572118.
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