Big Bucks Needed to Take a Bite Out of The Big Apple
By Christina Bohnstengel
New York City may be considered the center of the world when it comes to fashion, art, business, and an electrifying cosmopolitan lifestyle, but you better have the bucks if you’re going to make it happen there.
A new report published today in the New York Daily News claims that the Big Apple is America’s most expensive place to live. That’s not new news, until you read the numbers that indicate that not even a six-figure income will get you out of the middle-class ghetto in New York City.
Rent prices in New York are 53 percent higher than in America’s second most expensive city, San Francisco. The cost to heat your home in the midst of a nasty New York winter has jumped 125 percent in the past five years. And perhaps the most staggering statistic of all is that full time day care can cost as much as a some college tuitions—$25,000 per year per child, or $2,000 a month.
The study from the Center for an Urban Future reported that, “Income levels that would enable a very comfortable lifestyle in other locales barely suffice to provide the basics in New York City.”
Email This Post
