www.amny.com Open in urlscan Pro
192.0.66.202  Public Scan

Form analysis
3 forms found in the DOM

GET /

<form role="search" method="get" class="search-form" action="/">
  <label>
    <span class="screen-reader-text">Search:</span>
    <input type="search" class="search-field" placeholder="Search" value="" name="s">
  </label>
  <button type="submit" class="basic-button bkg-main search-submit icon-search-basic" value="Search"><i class="fa fa-search" aria-hidden="true" aria-label="Search"></i></button>
</form>

GET /

<form role="search" method="get" class="search-form" action="/">
  <label>
    <span class="screen-reader-text">Search:</span>
    <input type="search" class="search-field" placeholder="Search" value="" name="s">
  </label>
  <button type="submit" class="basic-button bkg-main search-submit icon-search-basic" value="Search"><i class="fa fa-search" aria-hidden="true" aria-label="Search"></i></button>
</form>

POST #

<form method="post" action="#" class="sailthru-add-subscriber-form" id="sailthru-subscribe-id--1">
  <div class="sailthru-add-subscriber-errors"></div>
  <div class="sailthru_form_input form-group">
    <label class="sailthru-widget-label">Email</label>
    <input type="text" name="email" placeholder="Email" value="" class="form-control sailthru_email">
  </div>
  <input type="hidden" name="sailthru_nonce" value="6909c12e07">
  <input type="hidden" name="sailthru_email_list" value="amNY Breaking News,amNY Dedicated,amNY Evening Daily RSS Newsletter,amNY Morning Daily RSS Newsletter">
  <input type="hidden" name="action" value="add_subscriber">
  <input type="hidden" name="source" value="sidebar-widget">
  <input type="hidden" name="lo_event_name" value="">
  <input type="hidden" name="reset_optout_status" value="">
  <input type="hidden" name="hide_title_status" value="">
  <input type="hidden" name="site_key" value="" id="siteKey">
  <input type="hidden" name="captcha_token" value="" id="sailthruToken">
  <span class="input-group-btn">
    <button class="basic-button bkg-main btn btn-reverse" type="submit"> Subscribe </button>
  </span>
</form>

Text Content

FLIP THROUGH
TODAY’S PAPERS



AMNY NEWSLETTER

Tackle the city, with our help.

Subscribe

AMNY NEWSLETTER

Manage your settings.

Manage

 * amNY Shops
 * News
   * All
   * By Neighborhood
   * Business
   * Coronavirus
   * Police & Fire
   * Eat & Drink
   * Education
   * Entertainment
   * Finance
   * Opinion
   * Politics
   * Real Estate
   * Sports
   * Transit
 * Things to Do
   * Events in Manhattan
   * Events in Brooklyn
   * Events in Queens
   * Events in The Bronx
   * Events on Staten Island
   * Things to do with kids
   * Post an Event
   * Entertainment Guides
   * Business Events
   * Webinars
 * Boroughs
   * Manhattan
   * Brooklyn
   * The Bronx
   * Queens
   * Staten Island
 * Sports
   * All
   * Mets
   * Yankees
   * Giants
   * Jets
   * Knicks
   * Nets
   * Islanders
   * Rangers
   * Soccer
   * Tennis
   * Olympics
 * Sports Betting
   * Sports Betting News
   * NY Sports Betting Apps
   * DraftKings Sportsbook NY
   * Caesars NY
   * FanDuel Sportsbook NY
 * Casinos
   * Real Money Online Casino Apps
   * NJ Online Casinos
   * NJ Online Casino Bonuses
   * New NJ Online Casinos
   * Bet365 Casino
 * Contact Us
 * More from amNY
   * What is New York
   * Home Pros
   * Jobs
   * Games
   * Digital Editions
   * Podcasts
   * Brand Content

Search:

 * Search:

 * News
 * All
 * By Neighborhood
 * Business
 * Coronavirus
 * Police & Fire
 * Eat & Drink
 * Education

 *  
 * Entertainment
 * Finance
 * Opinion
 * Politics
 * Real Estate
 * Sports
 * Transit

 * Things to Do
 * Events in Manhattan
 * Events in Brooklyn
 * Events in Queens
 * Events in The Bronx
 * Events on Staten Island

 *  
 * Things to do with kids
 * Post an Event
 * Entertainment Guides
 * Business Events
 * Webinars

 * Boroughs
 * Manhattan
 * Brooklyn
 * The Bronx
 * Queens
 * Staten Island

 * Sports
 * All
 * Mets
 * Yankees
 * Giants
 * Jets
 * Knicks

 *  
 * Nets
 * Islanders
 * Rangers
 * Soccer
 * Tennis
 * Olympics

 * Sports Betting
 * Sports Betting News
 * NY Sports Betting Apps
 * DraftKings Sportsbook NY
 * Caesars NY
 * FanDuel Sportsbook NY

 * Casinos
 * Real Money Online Casino Apps
 * NJ Online Casinos
 * NJ Online Casino Bonuses
 * New NJ Online Casinos
 * Bet365 Casino

 * More from amNY
 * What is New York
 * Home Pros
 * Jobs
 * Games
 * Digital Editions
 * Podcasts
 * Brand Content

 * amNY Shops
 * Contact Us
    * 

Business


MORE MONEY, MORE PROBLEMS: NYC IS WORST CITY IN AMERICA FOR LIVING COMFORTABLY,
NEW STUDY SHOWS

By Barbara Russo-Lennon Posted on April 2, 2024
The Manhattan skyline.
AP Photo/J. David Ake, File

Sign up for our amNewYork email newsletter to get news, updates, and local
insights delivered straight to your inbox!
FacebookTwitterShare

Whether you are single or raising a family, you better have a pretty big
paycheck if you want to live on Easy Street in New York City, new research
shows. 

A study released last month from SmartAsset, a consumer-focused financial
company, shows that on average, a family of four needs to make at least $318,406
in order to live comfortably in the Big Apple. 



That’s more than three times the city’s median household income of $76,607,
according to the U.S. Census Bureau.  







But single New Yorkers arguably have it worse. In fact, NYC ranked #1 for the
city with the highest salary needed for a single adult to live comfortably in
the United States. (Houston was ranked the best in the study.) 


VESELKA’S 70TH ANNIVERSARY WITH UKRANIAN PRIDE

SCHNEPS CONNECTS

Audio Player
https://podcasts.schnepsmedia.com/wp-content/uploads/2024/04/Veselka-Schneps-Connects-Podcast.mp3

00:00
00:00
00:00

Use Up/Down Arrow keys to increase or decrease volume.


 * SUBSCRIBE:

 * RSS
 * iTunes
 * Spotify
 * Stitcher
 * Amazon
 * Google Play

The study shows a single New Yorker without kids needs to make at least $138,570
annually or $66.62 in hourly wages, to sustain a comfortable lifestyle. Just to
cover necessities alone, a single New Yorker needs an estimated $70,000, the
research shows. 

While New York has the highest salary needed to live as an individual, adding
children is not as proportionally as expensive as it is in some other cities,
Jaclyn DeJohn, managing editor of economic analysis at Smart Asset explained. 

“When it comes to two working adults raising two children, New York City is only
the fifth most expensive,” DeJohn said. “While this study didn’t specifically
evaluate causes and effects, this discrepancy may be due to New York having a
particularly expensive housing market relative to other cities. Adding
additional residents to housing units decreases the cost per person, so if a
family’s budget is concentrated mostly on housing, the benefit of adding family
members will be outsized on a cost-per-person basis. 



The SmartAsset findings come after another major study in February showed more
than half of NYC is living at or near the poverty line. That study found that at
56%, most of the city’s population lives in poverty or with low incomes. 


‘LIVING COMFORTABLY’ IN NYC

What does it mean to “live comfortably?”

SmartAsset defines it using the 50/30/20 budget, which is when an individual or
family uses 50% of income for essentials such as housing, groceries and
transportation, 30% for discretionary spending and 20% for paying off debt,
saving or investing. 



Data from the study is based on the costs of housing, income taxes, food,
transportation and other necessities. 

Jaclyn DeJohn, managing editor of economic analysis at SmartAsset detailed how
the research was collected.  

“This cost data, assumed to be the minimal amount needed to simply survive, was
used to represent 50% of the salary needed, and from this we extrapolated the
total costs for individuals and families to also afford wants such as hobbies
and entertainment as well as long-term savings,” she explained. 


FEELING THE SQUEEZE

Many New Yorkers have become accustomed to economic turmoil in recent years. The
city’s high cost of living coupled with low wages, nationwide inflation and even
possible price gouging have put huge dents in the wallets and bank accounts of
many New Yorkers. 



Jake Elich, who lives with his wife on the Upper West Side, has a baby on the
way. He said his family is feeling the financial strain. 

“For me, it’s the potential challenges that will come with raising a child here
that is of utmost concern,” he said. “Understandable why it costs so much, but
stacking it on top of rent makes the situation very concerning.”

One New Yorker who requested to remain anonymous, is a teacher who lives with
her musician fiancé in Manhattan. They moved several times in recent years
because of sky-rocketing rent increases they could not afford. 

“As a school teacher, we get about 3% raise every year,” she said. “The rent
keeps rising, my salary hardly raises and my paychecks dwindle down so quickly.
I have never felt so poor in my life.”



She said she works extra hours to have enough money for discretionary spending.
She added that the bars and venues where her fiancé performs have not raised
their fees for musicians in many years.

“I do have to work extra by teaching after school classes to have money for
fun,” she said. 

The 16-year-teaching veteran said she and her fiancé  will have to face some
difficult choices soon, including whether or not to stay in New York. 

“I feel like I have to make six-figures to feel comfortable, even providing for
a child if I am able to choose that,” she said. “Or, leave New York City, which
is hard because we love it here. My fiancé’s work is heavily based here. A lot
of years of networking and time went into his career.”

Betsy Shevey, who lives in Manhattan, is a senior on a fixed income. She
struggles with paying for necessities so much that it has become a challenge to
fit in money for fun or recreation activities. 

“The cost of finding a place to swim is insane, even at schools, no less health
clubs,” she said. “Treats like a restaurant meal are just a memory as the costs
are absurd. Dentists are a whole other nightmare.”

Another New Yorker, Vittorio Bugatti, said he feels for his neighbors who are on
fixed incomes or struggling to afford food and other necessities.

“I’ve been fortunate enough to be able to absorb a number of those costs, but a
lot of people can’t,” he said. “Even so, I’ve felt a bit of sticker shock the
last few years. ConEd has double or tripled in some cases. Food is still high.”

Bugatti suggested the high cost of living could be why a number of New Yorkers
are leaving the city.“Quality of life is not matching the high costs, not to
mention taxes are some of the highest in the country,” he said. “For people that
are young like myself, it is definitely going to be more and more difficult for
millennials and the upcoming generations to be able to afford the basic costs of
living here in NYC.”

FacebookTwitterShare


ABOUT THE AUTHOR


THINGS TO DO IN NYC

Post an Event

Tomorrow, all day


CINCO DE MAYO
HARD ROCK CAFE NEW YORK

Tomorrow, 10 am


COLOR FACTORY’S COLORS IN BLOOM
COLOR FACTORY NEW YORK

Tomorrow, 6 pm


HAMPTONS SUMMER SONGBOOK BY THE SEA LAUNCH PARTY
THE TRIAD THEATER

Tomorrow, 7:30 pm


THE BILLIE HOLIDAY THEATRE PRESENTS LYNN NOTTAGE’S FABULATION, OR THE
RE-EDUCATION OF UNDINE
THE BILLIE HOLIDAY THEATRE

Tomorrow, 7:30 pm


COMMUNITY SCIENCE: HORSESHOE CRAB MONITORING
CONFERENCE HOUSE PARK

May 25, 11 am


BLUEY’S BIG PLAY
KINGS THEATRE

View All Events…




JOBS IN NEW YORK

ADD YOUR JOB

 * BENSIMON SALON & DAYSPAFRONT DESK RECEPTIONIST & MANICURIST F/T-P/T
 * Home Court Real EstateReal Estate Salesperson
 * Allied Security/WF1MTA Security Guard

VIEW ALL JOBS…


TACKLE THE CITY, WITH OUR HELP.

Close
Thank you for subscribing!
Email
Subscribe



HOME PROS

Find a pro





RELATED ARTICLES

 * NYC launches ‘Marketplace’ for new outdoor dining setups
 * Sam Ash to close down for good after 100 years of business
 * Schneps Media Acquires Anton Media
 * Op-ed | New York’s film economy empowering thousands of diverse residents


THINGS TO DO IN NYC

Full calendar


HOME PROS

Find a pro


MORE FROM AROUND NYC

Bronx Times


BRONX CENTER HONORS ITS DIRECTOR OF NURSING DURING NATIONAL NURSES WEEK

QNS


NYPD HOLDS 10TH ANNUAL ‘PROM IMPACT’ EVENT, PROVIDING FREE PROM OUTFITS TO
QUEENS TEENS IN ST. ALBANS

Brooklyn Paper


LOCALS CELEBRATE 17 YEARS OF SUSTAINABILITY AT BAY RIDGE GREENMARKET SEASON
OPENING

Gay City News


MAGIC IN THE MAKING: REBECCA FRECKNALL’S NEW PRODUCTION OF ‘CABARET’ IS A
MASTERPIECE

 * Contact Us
 * Jobs
 * Home Pros
 * Advertise
 * Newsletter
 * 

 * © amNY 2024 Schneps Media
 * Privacy Policy
 * Terms of Use

✓
Thanks for sharing!
AddToAny
More…


 * Sections
 * amNY Shops
 * News
 * Things to Do
 * Contact