Cost Of Living New York

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by: Joe Black
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New York, is the third largest state in population after California and Texas, with an estimated population of 19,426,113 people. A very slow growing state domestically New York is a leading destination for international immigration. The empire state is full with open land but New Yorkers flock to the city. A staggering 93% of its citizens live in urban areas. The cost of living in New York is very high when compared to the national average at a shocking 25% according to recent statistics. The main factors involved in its high cost of living are predominately food and housing. New York sit at the top 5 in both categories making day to day living more of a challege let alone finding an affordable home. New York is a staggering 399.2 % above the national average. Out of 3 million households, 1 million are living in housing that is over 28% of their monthly income and 600,000 spend more than 50% of their income of mortgage or rent. In an effort to assist homebuyers the government is now offering tax breaks to builders who choose to build more affordable homes. The city conducts a lottery for applicants who meet the eligibility criteria for the specific development. The City itself does not sell the homes. Typically demand exceeds supply for the City-sponsored homes that's why most who participate enter multiple times. When faced with the prospect of paying $2449.00 per month for an apartment (New York’s average) this seems like a very attractive program.

Other statistics- Average electricity-17KPH Gas averages currently $4.20 and rising. Cost of Living Comparisons According to US average New York City-Overall-146 Food-121 Housing-183 Utilities-137 Transportation-118 Health Care-142

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Joe black is an author and web designer. Visit his Cost Of Living Index By State website for more info on the Cost Of Living In New York

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