Moving To New York: Cost Of Living, Best Cities And More

Moving to a new state can be as exciting as it is nerve-wracking. If you’re thinking of moving to a state as popular as New York, you might have a lot of questions. With 1.5209 trillion square feet of land, over 1,500 cities and towns, and over 19-million residents, the Empire State is a bustling location. There is so much to account for when you’re considering moving to New York, including the best cities to live, cost of living, weather and general quality of life – but there’s no need to worry. You can take a deep breath and relax, because we did the research and compiled it into this short read, just to help you decide if the Empire State is a good fit for you.

What Is It Like Living In New York?

New York, also known as the Empire State, is home to a few of the best places to live on the East Coast. When deciding if you should move to New York, you would likely consider the following statistics:

• Population: 19.8 million
• Median age: 39
• Unemployment rate: 4.2%
• Average household income: $71.1K
• Median home price: $405,000
• Crime Rate Per Capita: 0.02

While these statistics are crucial factors, there are certain nuances about New York that numbers do not capture. With so many different cities, towns and types of people, you will find different cultural norms throughout New York. If you move to New York City, for instance, you might find that the concrete jungle is a large, bustling, lively dream factory. The small town of Ledyard, Cayuga County, on the other hand, is a quieter, conservative, rural college town.

Should You Move To New York? What You Can Expect

After looking over the statistics, you might still be asking yourself, “Is moving to New York a good fit?”

The answer will depend on what you find important. A few key things you can expect from living in New York include the following:  

The Experience Of All 4 Seasons

When deciding if you should move to New York, you might want to keep in mind that like other states in the Northeast, New York experiences weather changes from all four seasons.

While most people might only consider the summer and winter weather, living in a four-season state during autumn is an experience like no other. The changing weather erases the greenery brought on by a summer’s work, inviting yellow and orange pigments to decorate the foliage. Crisp, pumpkin-spice fragranced air fills your lungs as you cuddle up in your favorite hoodie, enjoying the silence brought on by the children’s return to school. Sounds magnificent, doesn’t it? If you’ve never experienced northeastern fall, moving to New York would be an amazing place to start. In fact, Kingston is one of the best cities to view fall foliage, offering a unique fall perspective aboard the Catskill Mountain Railroad’s Fall Foliage Adventure train.

After autumn passes and winter makes its rounds, spring comes back and revitalizes the foliage around you. The snow melts and the sun stays around for a little longer, letting you know that summer is just around the corner.

A four-season state will come with its highs and lows. Temperatures can hit a sweltering 100+ degrees on any given day, and then slip back to the 80s in the same week. Thankfully, New York’s proximity to water gives you plenty of beaches to cool off – or get that tan the winter denied you all season.

While the summers in New York can reach 100+ degrees Fahrenheit, winter months can sink below zero degrees easily. Due to its geometrical placement, New York is often hit hard by snowstorms during the winter. Keep in mind that a city’s precipitation levels will depend on its location. The Great Lakes region of New York sees the highest annual precipitation rate, for instance, meaning you’ll deal with more extreme weather patterns in places like Ava and Buffalo than you would in New York City.

A Vast Array Of Career Opportunities

New York’s unemployment rate is only 4%, suggesting that the state has a vast job market. On top of the hardworking entrepreneurs who move to the concrete jungle to fulfill their dreams, the size and popularity of New York has caught the attention of many corporations, which is why so many are headquartered in the state.

The most popular companies headquartered in New York include:

• JPMorgan Chase & Co.
• Kate Spade & Company
• PepsiCo Inc.
• Sheraton Hotels and Resorts
• IBM

The list goes on for ages, but you get the gist. From small mom and pop shops to Fortune 500 corporations, there is a career waiting for you in the state of New York.

A Higher Cost Of Living 

The cost of living in New York is possibly the greatest factor when deciding if you should move to the state.

The average costs of essentials in New York State are:

• Housing (renting and buying): The average rent for a home in the state of New York is $1,315 and the average home sold price is $379,950. The actual cost of your housing will depend on which city you choose to relocate to. New York City, for instance, is much more expensive than Buffalo. To find out how much you would spend on a home, you can find a city’s housing trends using Rocket Homes Housing Market Reports.
• Taxes: The amount you pay in taxes will depend on various factors, including your marital status, dependents and your annual salary. New York has nine tax brackets, ranging from 4% to 10.9%. You can find a breakdown of the taxes you will pay on the New York State’s Department of Taxation and Finance website.
• Utilities: New York has the fifth highest utility costs in the nation at about $477 per month. The exact cost of your utilities will depend on your preferences, use and your rental agreement.  
• Groceries: Inflation is heating up across the country, and New York is not exempt from its grapple. On average, a New Yorker can expect to pay $482 per person monthly.

• Transportation: Transportation costs in New York State are about 40% higher than the national average. If you own your car, you might spend around $400 per month for insurance, gas and repairs. New York does have vast public transit options, however, which could save you a few dollars. Transit tickets will cost you $2.75 per ride, or $116 for a monthly pass.

• Health care: Health care costs in New York match the rest of the process in the state, averaging about $13,000 per person. Having a career with health insurance options will save you thousands if you move to the state.

To get a more accurate idea of your expenses, it would be best to research the costs in the city that you are looking to move to. New York is too vast of a place to give an overall accurate representation. There are small, rural areas that would be much more affordable than the bigger cities.

A Bigger Population With Much Diversity

In the larger New York cities and towns, you will find a diverse mix of cultures. According to the U.S. Census Bureau, the state of New York is 55.2% white, 14% black, 1% Native American, 9.6% Asian, 8.7% mixed and 11.5% other, including those of Hispanic / Latino ethnicity. The most diverse counties in New York are mainly located in the New York City and Long Island regions, including Queens, Kings, New York, Westchester and Nassau.  

Lots Of Traffic And Tourists

New York is a popular state with plenty of tourists trying to get a glimpse of the must-see destinations, so you should expect lots of traffic and tourists – especially in larger, heavily populated counties.

Ease Of Public Transportation

To avoid the traffic hassle, many people use New York’s public transit, including their subway system. You will especially find public transit useful if you move to New York City, as the subway platform is designed to take you through Manhattan, Queens, Brooklyn and the Bronx.

Larger School Systems 

Due to the sheer size of New York, the state is home to one of the largest school systems in the country. In fact, The New York City public school system is the largest in the U.S., with more than 1.1 million students, 1,700 public schools and a budget close to $25 billion.

Furthermore, the New York State Education Department has a mission to further education of all New Yorkers, offering adult education, career and vocational training, cultural training and bilingual courses. They also offer early education programs, and have implemented the Every Student Succeeds Act (ESSA) to help youth across New York ready for life after school. You can find a complete list of the Education Department’s programs, along with their mission, on their website.

Endless Activity

There are a variety of activities to do in a state so full of culture. The food culture in New York is one of the most diverse in the country, offering fine dining on the strip, birria tacos from a food truck or grabbing a chopped cheese from a local bodega. Historical museums, art galleries, parks, wineries and breweries, and more are waiting for you in New York.

Experience the endless treasures the state has to offer by parasailing hundreds of feet above scenic Lake George, exploring Letchworth State Park (also known as “The Grand Canyon of the East”) or horseback riding along a Long Island shoreline. Enjoy the winding waterways at Ausable Chasm or feel a sense of American pride as you take in the Statue of Liberty.

There’s so much more to do in the state of New York, and the opportunities are endless. Not only is there an adventure waiting for you and your loved ones every day, but tourists are also heavily attracted to everything the state has to offer, creating revenue and further expanding the opportunities in New York.  

Plenty Of Outdoor Recreation

People assume that moving to a heavily populated state means giving up outdoor activities when that is the furthest thing from the truth. Hiking, skiing, horseback riding, fishing, parasailing – the list goes on. If there is any outdoor recreation you can think of, you can do it in New York. Want to try rock or ice climbing? Split Rock Mountain Wild Forest and Taylor Pond Wild Forest offer both. Maybe you’d like to spend your days relaxing in Central Park, or cruising on the Hudson River. Whatever it is, you can do it in New York.

Enjoyment Of Fresh Farm Products

Local farms are popular in New York, giving residents fresh, efficient access to farm products from local vendors. You can enjoy fresh eggs, meat, fish, cheese, fruits and vegetables harvested locally, available easily, whenever your heart desires.

One Of The Biggest State Fairs

The Great New York State Fair is one of the largest fairs hosted in the country. Held in Syracuse, the fair is complete with vendors, several entertainment stages, competitions and concessions like no other. The New York State Fair website has a complete list of activities and entertainment you can find at the annual event.

Tips On How To Move To New York 

Relocating to New York will likely be an adjustment. Unless you are moving from another busting state like California, Texas or Florida, you’ll likely have a hard time making the big leap. There’s no need to fear, you just have to keep the following in mind:

Adjust Your Budget Accordingly

Living in one of the most expensive states in America means you will need to adjust your budget accordingly. Ensuring that you can afford the high cost of living while also having some cash to fall back on is always a good idea. Remember, professionals say that you should make at least three times your monthly housing payments, and still have cash set aside for other essentials, along with a rainy day fund.

Compare Renting Vs. Buying In New York

Whether you’d like to rent or buy a house in New York will entirely depend on your situation. With so many housing options, you might be sure what would even work for you and your budget. With the help of a trusted real estate agent, navigating the process of buying the home that is the right for your family is made much easier.

If you’re not sure you can afford housing expenses on your own due to the high cost of living, you’re not entirely out of options. In fact, many residents of New York live in co-op housing. A co-op, or housing cooperative, is a form of real estate homeownership that allows residents of a building or group of buildings to hold ownership of the property as shareholders. When you live in a co-op, rather than owning your individual housing unit, you own co-op shares of the entire property.

Make Strategic Preparations To Move

Moving is already a stressful operation, and doing so without a plan will only create a larger issue. If you decide to move to New York, you should consider the cost to move and logistics months in advance. Your actual cost to move to New York will depend on certain variables. You’ll have to consider the cost of shipping and mailing personal items, hiring movers or renting trucks for a DIY move, the number and size of the items you are taking with you. You should also plan out the moving supplies you’ll need and the time of year, as you’ll save yourself the headache from worrying about it too late.

Best Places To Live In New York

The most popular cities in New York have so much life to offer. If you prefer to live in a city versus a suburb, give these locations a closer look:

New York City

There is no place like The Big Apple. As Alicia Keys once said, the concrete jungle where dreams are made will make you feel brand new. Although this city is on the pricier side, New York City is home to an array of amenities, including touring The Statue of Liberty, The Empire State Building, Times Square, The Brooklyn Bridge, Grand Central Terminal and so much more. You will never run out of things to see and do in New York’s most popular city. You can also rest assured knowing that New York City has a thriving job market and the largest public school district in the U.S., ensuring your family’s career and education needs can be met.

Deciding where you should buy a house in New York City is no easy task, but working with a trusted REALTOR® will make your moving journey smoother. It’s important that you create and work within a budget, purchase in a safe neighborhood and buy a home with all the amenities you are looking for. Working with a real estate agent will allow you to follow your guidelines, and make your housing dream a reality.

If you think you would like to make New York City your home, you should check out houses for sale in New York City, New York, and New York City Housing Market Trends.

Albany

The capital of New York, Albany, is a gorgeous location. It is one of the oldest surviving settlements of the original British 13 colonies and has held its historic charm over the years. If you are looking for a location with world-class museums, fascinating historic sites, unique shopping experiences and plenty of outdoor adventures, you should consider purchasing a home in Albany.

The city’s quality of life is just as vibrant as the various activities it has to offer. Albany has a thriving job market and a high achieving school district. There are far more private than public schools located in the city. Which is something you should consider when you’re creating a budget.

Check out homes for sale in Albany, New York, and Albany Housing Market Trends if you’d like to make New York’s capital your home.

Buffalo

Buffalo is the second-largest city in the state of New York. Its constantly growing population and affordable cost of living make moving to Buffalo a good option if you’re looking to move to New York and save a pretty penny.

Buffalo has beautiful scenery, friendly locals, affordable real estate and has a ton of family fun activities. Like other large cities in New York, Buffalo has a healthy job market and a relatively large school district. Of course, all things great have a few cons, and Buffalo is no exception. Compared to smaller cities, Buffalo has a slightly high crime rate and is prone to ravaging blizzards, which can be a nuisance. However, for one of the most affordable cities in America, Buffalo has a lot to offer.

If you’re ready to plant roots in the city, you should check out the homes for sale in Buffalo, New York, and Buffalo Housing Market Trends.

Saratoga Springs

Saratoga is known as New York’s hub for thoroughbred horseracing. It is a smaller, close-knit community with a more relaxed scene. The city’s property and robbery crime rates are slightly high, but it is still considered a good place to settle down. Above all, Saratoga Springs has an amazing school district with an overall niche grade of an A. The career possibilities, recreation and outdoor activities are endless in Saratoga, ensuring your family will always have something to do.

Don’t wait, your dream home is calling you. If you’re interested in settling down in the city, you should consider checking out the homes for sale in Saratoga Springs, New York, and Saratoga Springs Housing Market Trends.

Rochester 

If you’re young, single or both, Rochester might be the perfect fit for you. While it has a decent job market, nightlife and outdoor activities, its school district and crime ratings are lackluster. Compared to other cities, it has a mid-tier cost of living. Rochester has a gorgeous outdoor scene, lively breweries, a beach and plenty of historic landmarks to visit. You will not be disappointed if you decide to purchase a home in this premiere city.

If it seems like it would be a good fit for you, you should consider looking at homes for sale in Rochester, New York, and Rocheste Housing Market Trends.

FAQs On Moving To New York

You might still have some questions about moving to New York. A few of the most asked are:

Is New York a good place to retire?

If you have a decent retirement income, you might want to consider spending your golden years in New York. The state has infinite activities to indulge in, including annual fairs, horseback racing, a team for every U.S. sport and premiere golf courses. You will never get bored if you retire in New York – a new activity will always be waiting.

What is a decent salary to live in New York?

Like everything else, what you consider a “decent” salary will depend on your individual circumstances, but the average salary for New Yorkers is about $70,000.

Where is the cheapest city to live in New York?

New York is an expensive state to reside in, but there are a few affordable options. Carthage, a small village located in the town of Wilna in Jefferson County, is the cheapest option to reside in, with an average rent of about $700, and a home sold price of $130,000. You can find more information about the housing market in Carthage, or any other city at our Rocket Homes real estate trends.

The Bottom Line: New York Has An Abundance Of Opportunities

Moving to a state with as many possibilities as New York can seem overwhelming, but it is possible with some preparation. Although the state is expensive, its hard to deny its thriving job market, many tourist attractions and northeastern perks. The amenities are endless, and the culture is like no other. Regardless, deciding to move to New York may or may not be the perfect fit for you, but it is entirely based on your interests and must haves.

If you’re ready to start your home buying journey in New York, take the steps to get approved for a mortgage today with our friends at Rocket Mortgage^®.