How to Plan Your Budget When Moving to New York City

For more than a century, New York City has been a popular destination. The scenery has changed, but the city is still known for its diverse culture. You can order Thai food in the middle of the night, and you can get around the city without a car. The city has an endless supply of entertainment. Contrary to popular belief, your everyday life will not resemble a television show. You need a detailed plan and a monthly budget. You need to be prepared for the competitive real estate market.

Monthly Rent

Most New York City residents use a real estate broker. If you need more than one bedroom, you should expect to pay at least $3,800 a month in Manhattan. If you are willing to live in the suburbs, you can find an apartment for less than $2,000 a month.

Utilities and Food

Surprisingly, utilities in New York City are lower than the national average. For a medium-sized apartment, your basic utilities may be less than $150 a month. Your grocery bill might be slightly more expensive in New York City. Restaurant prices are 50 percent higher than the national average.


Besides rent, parking is the most expensive bill for most car owners. In downtown Manhattan, the average parking spot is more than $500 per month. Parking is less expensive in Queens and Brooklyn. If you prefer public transportation, you will pay $121 for a monthly metro pass.

Cost of Movers and Insurance

If you are taking most of your belongings, Cheap Movers NYC ( your moving costs might be more than $1,800. Most residents pay $125 every year for rental insurance. Many standard policies offer $25,000 in coverage.


When you want to be entertained, you can expect to pay $14.00 for a movie ticket. If you like bowling, you can rent a lane for $55 an hour. You can find free entertainment on the subway platforms. On a typical weekend, you can listen to musical performances from local entertainers.

If you are not rich, those numbers might make your head spin. Do not panic. You can move to New York City with less than $5,000. If you are still panicking, here is how you can save $4,000 in a few months. Start freelance writing. You can work from anywhere in the world. Donate plasma and sell some of your belongings. Get a second job. When you have extra money in the bank, start looking for hostels in New York City. Take any job until you find something better. When you find a job, you can start searching for roommates in your favorite neighborhood. You might find a room for less than $1,000 a month.

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