New York City has always been on a list of the most expensive cities in the world. So if you’re like the average US citizen who budgets $1,180 for a summer holiday, you won’t get very far in New York City. According to an ABC News report, New York City ranks as the 6th most expensive city in the world for a holiday in 2012. London tops the list, followed by Oslo, with Singapore rounding up the Top 10 list.
In the USA, three of the top five areas in the country with the highest cost of living are found in New York City. Manhattan tops the list followed by Brooklyn, with Queens coming in at number five. The Living Wage Project estimates that it costs $11.86 an hour to live in New York City – far above the minimum wage of $7.25.
The city that never sleeps attracts visitors like a magnet in a box of nails so it’s important to know how you can make it there on a limited budget. Rent will take the biggest bite out of your wallet, eating up almost 37%. The next largest expense item is restaurants with almost 18% followed by groceries with about 17%. Transportation comes in at a little under 10% of the budget.
As a visitor, there are some ways to cope with the high cost of living in NYC. There’s no low season for travel to New York City but there’s a high season from mid-March to December when rates are at their peak. The least expensive time is from January to early March. Prices are also at their highest around Autumn, Christmas and Spring. In January and February, hotels often offer special deals and discounts when occupancy is lower than usual.
One way to enjoy a stay in New York City is to get a house sitting assignment there. You can spend enough time in the city living in a comfortable home rent-free. You might even make some money to take care of the shows, sports events and tours. The city’s large household population offers ample opportunity to land a house sitting assignment especially during the summer when most New Yorkers go out of town.