Live in the state of NY is more expensive than the entire United States, except for Hawaii. According to the Bureau of Economic Analysis, goods and services cost a 16.4% more than in the rest of the entities.
Cosmopolitan areas raise the cost of living. Just the New York City is in the 6th place of the most expensive cities to live in the world, according to the ranking of Mercer.
Cost of housing in New York
Housing is the most important factor that increases the cost of living in the New York State. According to an analysis of 24/7 Wall Street, the average home has a value of $ 302,200 dollars, about $ 97,300 more than the national median value.
“Across the state, the median price of a home built in 1939 or earlier is $ 322,800, while the median value of a home built in 2014 or later is $ 383,000,” they say.
Renters in New York pay, on average, $ 1,240 per month for rent. This is $ 217 more than in the rest of the states.
Cost of transportation in New York
At least half of New Yorkers drive to work. Fuel costs $ 2.29 per gallon and the average car insurance is $ 1,621.
Cost of food
Of course, the cost of food depends largely on the products each individual purchases and how often they visit restaurants.
But according to data from Agriculture department, an adult from New York State it spends an average of $ 3,539 on food per year and a family of four spends about $ 10,220 on average.
Cost of medical care
The report of 24/7 Wall Street notes:
“Average health care costs for a single adult in the state total $ 5,018 per year, compared to the national average of $ 4,266.”
Most expensive counties to live in New York
1) Nassau: $ 140,425 per year per person. This is where Long Beach is located.
2) NY: $ 139,291 dollars a year per person. It encompasses five county-level administrative divisions called boroughs: Bronx, Brooklyn, Manhattan, Queens, and Staten Island. Here you will find most of the attractions such as Statue of Liberty, the Empire State, Central Park, Times Square and more.
3) Suffolk: $ 138,766 per year per person. Long Island is located in this county.
4) Putnam: $ 138,350 per year per person. It is north of New York City on the Connecticut border. Its most popular attraction is Breakneck Ridge.
Cheapest Counties to Live in New York State
These counties are the cheapest because they are the furthest from the New York City and they have no border with Canada and no outlet to the Atlantic Ocean.
1) Chautauqua: $ 75,789 dollars per person per year.
2) Cattaraugus: $ 75,891 dollars per person per year.
3) Franklin: $ 77,436 per person per year.
4) Allegany: $ 78,540 per person per year.
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