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Monday, February 09, 2009

New Yorkers: This Is For You

Hat Tips: Rosie and Ezzie

Just in case you were wondering why you just can't seem to get ahead, it might be that you live in New York, the most expensive place to live in the USA, or even Queens, the 5th most expensive place to live in the USA. A new study by the Center for an Urban Future shows that NYC is so costly that a salary of $123,322 buys the same standard of living as $50,000 in Houston and a $60,000 salary in Manhattan, is equivalent to a $26,092 salary in Atlanta. Rents are 53% higher than the ridiculously priced San Francisco, the 2nd most expensive place to live in the USA.

New Yorkers also pay more for phone service, heating costs, and day care (although I do believe that within the Orthodox community day care is actually far, far less expensive in the boroughs than in any out of town community).

7 comments:

Anonymous said...

I doubt that day care is less expensive in NY than out of town. I pay $640 a month for full time for an infant. While I LOVED living in NY I can't afford it with kids and things are much simpler "out of town".

JLan said...

"a $60,000 salary in Manhattan, is equivalent to a $26,092 salary in Atlanta."

I'd like to see the numbers to back that up. Does this take into account the possibility of using public transportation (which is only minimally available in Atlanta)? Living in NY, I've occasionally considered moving to the outer boroughs or NJ, but between a cheap apartment in the city vs. the costs of car ownership, it never seems to make sense to move out of NYC.

Houston Ima said...

Woohoo Houston! Just another reason why Houston should be on someone's list of places to consider if moving. A growing Jewish community, nice weather (um, if you like heat), and the coolness of living in Texas are all reasons that can't be beat. *smile* That, and the whole economics of it all...(now if we can just get a kosher Chinese restaurant down here).

Ezzie said...

SL - Based on a) personal experience b) what others have told us and c) the results of the economic survey so far, daycare in NYC is as expensive if not more expensive when it comes to babysitting and daycare.

Honestly Frum said...

I believe in our community we need to add an additional 30-50% to that to account for all the "extras", Yeshiva Tuition, Kosher food, Shul memberships etc.

SephardiLady said...

Anonymous-I hope you don't mind revealing where daycare is $640 a month full time. Where I live, you are looking at $1200 a month for full time.

Anonymous said...

I am live in Portland Oregon and the 640 for full time is on the low end (but still high quality). Most places are closer to $1000 a month. As for the price in NY rents vs cars... my mtg is less than $1000 a month for a 2200 sq ft house on a big lot, near 5 buses. I don't know what I could get in NY for less than 2K a month. Live is cheaper out of NY!