Living in New York: cost of living, rent and salary
Updated 3 October 2026
In New York, a one-bedroom home costs about $2,430 (≈ €2,140) a month. To keep the lifestyle of someone living in London, you need about $3,710 (≈ €3,270) net a month. Here is the rent by type of home, the month’s budget line by line, and the sources.
Work out my budget in New York
Example: the same life, elsewhere
A single person living in London in a one-bedroom home, with the average spending of a similar household, spends about £3,350 a month. To keep the same life in New York, they would need about $3,710 (≈ €3,270) net a month locally (−17%), i.e. 1.5 times the New York City minimum wage.
For a couple with two children in a two-bedroom home (state school), it would take about $5,690 (≈ €5,010) net a month in New York, i.e. 2.2 times the New York City minimum wage.
Calculated on 3 October 2026 with the official averages of London and the destination’s prices. Yours depends on your city, home and habits: the calculator works it out in a few minutes, no sign-up.
Rent in New York
A one-bedroom home in New York costs about 72% more than the median of the 11 other cities tracked in the country.
| Type of home | Outside sought-after areas | Outside sought-after areas, in euros |
|---|---|---|
| Studio | $2,380 | €2,090 |
| 1 bedroom | $2,430 | €2,140 |
| 2 bedrooms | $2,540 | €2,240 |
| 3-bedroom house | $2,940 | €2,590 |
Monthly rent in USD, outside the most sought-after areas. Studio 28 m², 1 bedroom 45 m², 2 bedrooms 65 m², house 95 m² where rent is known per m². U.S. Census Bureau, American Community Survey 2024: median rent by number of bedrooms in each city, adjusted to what tenants who moved in since 2023 pay, excluding utilities, and updated with the BLS rent index (August 2026).
A month’s budget in New York, line by line
For a single person renting a one-bedroom home and keeping the average habits of a household in London, here is what each line would cost in New York.
| Item | London | New York | New York (USD) |
|---|---|---|---|
| Housing | £2,550 | £1,830 | $2,430 |
| Housing tax | £50 | £0 | $0 |
| Electricity, water, gas | £100 | £80 | $110 |
| Groceries | £200 | £210 | $280 |
| Restaurants and outings | £110 | £110 | $150 |
| Transport | £100 | £110 | $150 |
| Health | £40 | £110 | $150 |
| Phone and internet | £50 | £90 | $120 |
| Sport | £60 | £50 | $70 |
| Clothes | £60 | £60 | $80 |
| Hairdresser and beauty | £40 | £40 | $50 |
| Trips back to London | £0 | £80 | $100 |
| Total per month | £3,350 | £2,790 | $3,700 |
Estimate: lines without an answer take the official average of the departure city, then the destination’s prices. The calculator starts from your real amounts.
Visa, healthcare, school, electricity
These rules are the same across the country: find them on the page Living in the United States.
Frequently asked questions
What salary do you need to live in New York?
For a single person keeping the same life as in London: about $3,710 (≈ €3,270) net a month, i.e. 1.5 times the New York City minimum wage.
How much is rent in New York?
About $2,430 (≈ €2,140) a month for a one-bedroom home and $2,540 for a two-bedroom home, according to U.S. Census Bureau, American Community Survey 2024.
Is it expensive to live in New York?
In London, a single person spends about £3,350 a month; with the same life in New York, it would be about £2,790 (−17%).
Work out my budget in New York