What You Actually Need to Earn To Move to New York City in 2025

The iconic phrase “if you can make it here, you can make it anywhere” still rings true for New York City—but the definition of “making it” has shifted dramatically. As 2025 unfolds, the financial reality of moving to New York and sustaining a quality lifestyle has become increasingly demanding, with housing, groceries, utilities, and transportation costs climbing higher each year.

The True Cost of Manhattan Living

Housing: The Biggest Challenge

For anyone moving to New York, the housing decision is paramount. According to current market data, renters can expect to pay a median of $2,367 monthly for a one-bedroom apartment, with two-bedroom units averaging $2,496—though premium neighborhoods routinely exceed $8,000 per month.

Those considering purchase rather than rent should be prepared for a significant financial commitment. A modest 1,500-square-foot apartment in Manhattan typically ranges from $2 million to $3.5 million in purchase price. Beyond the initial investment, monthly obligations including property taxes, insurance, maintenance fees, and building services can reach $5,000 to $10,000—numbers that fundamentally reshape what “affordable” means in this city.

Daily Expenses Break Down Quickly

Feeding Yourself in the City

Grocery shopping for a single person runs between $400 and $500 monthly—a baseline figure that assumes cooking at home. Once you factor in dining out, casual restaurants charge $12 to $30 per person, while mid-range establishments easily exceed $50 per person when adding drinks.

Utilities and Services

Basic utilities—water, electricity, heat, and garbage disposal—typically cost $150 to $200 monthly. Internet service adds another $50 to $100, and if your building employs a doorman, expect similar additional charges for that amenity.

Getting Around Without a Car

The transportation question is straightforward for most New Yorkers: vehicle ownership is impractical. Parking, insurance, and gas combined can exceed $1,800 monthly, plus the hassle of street-cleaning hour relocations. A monthly MTA unlimited pass costs $132 for 30 days of unlimited public transit access, making it the logical alternative for daily commuting.

The Salary You Actually Need

For a Modest Lifestyle

Someone pursuing a basic NYC existence—perhaps in a studio or sharing an apartment—should target an annual salary between $70,000 and $90,000. This covers rent, food, transit, and utilities with limited room for emergencies or leisure.

For True Comfort and Independence

Those wanting to live alone, enjoy restaurant meals regularly, catch Broadway performances, and experience what New York has to offer should aim for annual earnings exceeding $100,000. This threshold provides the breathing room to enjoy the city’s cultural attractions while maintaining financial stability.

The Bottom Line for Moving to New York

Moving to New York City remains achievable—but success requires honest financial planning. Whether you’re earning $70,000 or six figures, aligning your income with your desired lifestyle is essential. The city’s opportunities are real, but so are its costs. Plan accordingly, and New York can deliver on its legendary promise.