Cost of Living in New York Vs. LA [INFOGRAPHIC]
Are you looking to make a move to the big city? Which one is right for you? In the U.S, cities don’t get any bigger than New York, with a population of over 8 million, and Los Angeles, with close to 4 million inhabitants. There are lots of benefits to living in both cities, and each has a passionate fan base. But if you’re looking to move to either for business purposes or to explore other creative opportunities, it could be helpful to see a breakdown of the cost of living in each city before you decide!
To put things in perspective, the average salary in New York is roughly 15% higher than that in LA, and can vary greatly depending on type of employment. So you need to factor that in when comparing the cost between average monthly rent, transit and food.
Starting with the essentials of food, LA has more reasonable prices than New York for often-purchased foods like eggs, meat, milk, fruit and bread, with prices in LA averaging nearly one-third less than in New York across the board.
The biggest difference comes when comparing the cost of rent, where an average one-bedroom apartment in New York is $2,800 per month, nearly double the average price of a one-bedroom apartment in LA, which is $1,500.
Given that the sales tax in both cities are comparable, the extra salary received by NYC workers doesn’t quite justify the extra cost of living in proportion to LA. Considering this, it’s hard not to argue that LA is the more economically feasible town to live in, but nothing is quite like living in New York. NYC is a very densely populated and coveted area to be in, where every corner is teeming with life at all hours. LA is far more spread out, making it a bit difficult to get around town. Though both cities are infamous for terrible traffic, New York boasts one of the best subway systems in the world, making it very easy, even preferred, to get around the city without a car. You can also get pretty cheap cab rides around NYC, whereas it’s almost twice as expensive to cab it in LA, where you often travel greater distances. I guess standing outside waiting for a ride in the sunshine of LA isn’t too bad, though, where you can expect much warmer temperatures year round than in New York.
Finding the right city for you comes down to more than just cost, of course, but it’s best to know what you can expect before renting out a U-Haul and making the move. If you’re looking for office space, hunting for a new job or just exploring sites to see, your cost of living could make or break your success and length of stay in the big city!
Which city would you prefer to live in? What’s your deciding factor?