The cost of living in New York City, New York, is significantly higher than the state and national averages. Homes in the city are 230% more expensive than the U. S. average, while public services are 5% more expensive.
This is due to the fact that the metropolitan area is comprised not only of New York City proper, but also of the nearby areas that surround it. Despite the high cost of living, there are still plenty of affordable activities to enjoy in the city. New York City is a cultural hub, a financial center, and a media hotbed with something for just about anyone. The city is ranked 23rd on the list of the best places to live in the world and second best city to live in the United States.
It is also the most livable city in New York State. When budgeting for a move to New York City, it's important to factor in expenses that are normally overlooked. This includes parking costs, food and agricultural products, and dining out regularly. The combined city-state sales tax rate in New York City is 8.5%, but it can vary depending on what you buy and how much it costs.