This list of tips for living in NYC on a budget was written by Yana Zaytseva, co-founder of New York Simply (an official partner of Apple Maps).
So you officially want to make the move to New York City, huh? Congrats! In my experience, the city is just as magical as I had hoped. But unfortunately, magic doesn’t pay the bills. Making the move to the Big Apple will be difficult, but it’s not impossible if you’re okay living in NYC on a budget.
This guide will cover all the tips I’ve learned after living in New York City for over a decade. I’ll share my personal money-saving tips like where to grocery shop and how to have a night on the town without breaking the bank. Let’s get to it!
Visiting New York City? If you haven’t decided where to stay (yet) check out our helpful guide on Where to Stay in New York City (10 Best Neighborhoods +3 to Avoid). Don’t have time? Here’s our favorite hotel in NYC, hands down.
How to Save Money While Living in NYC
Table of Contents: New York City Budget Tips
Table of Contents: Tips for Saving Money in New York City
Look for “No Fee” Apartments
Let’s be honest, securing an apartment in New York City isn’t a walk in the park. But if you’re reading this, it means you’re determined to make your dream of living in the city a reality. I’ve got some valuable tips to ease your transition.
First off, download the StreetEasy app (think of it as Zillow for NYC). Then, narrow down your search to “no fee” apartments. In NYC, there’s this thing called a “broker fee,” a notorious practice where renters are required to use brokers to tour apartments.
Essentially, you can’t score an apartment without going through a broker. And when you finally find a place you like, you’re expected to shell out the equivalent of one month’s rent or 15% of the annual net rent to the broker. It’s a hefty price for someone merely turning a key for you. But alas, it’s all part of the game.
No-fee apartments might be a bit harder to get, but trust me, they’re worth the extra effort. Landing an apartment without a broker fee will save you a fortune, making it the ultimate money-saving tip for living in NYC!
You might enjoy reading: 20 Things I Wish I Knew BEFORE Moving to New York City (Firsthand Account)
Thrift Furniture
As you know, the expenses of furnishing an apartment add up quickly! Sure Amazon and Ikea will always be there to help furnish your first place, but the Big Apple is a treasure trove of unique pieces and one-of-a-kind gems. Have you heard of “stooping” before? The term is widely used in NYC and refers to when residents leave unwanted items on stoops, which are free for grabs.
Stooping has become so popular that there are Instagram pages dedicated to showcasing these curbside treasures. It’s not uncommon to stroll through NYC streets and stumble upon perfectly functional appliances, intact furniture pieces, and various other goodies that folks are ready to part with, without the hassle of selling them online.
I have friends who furnished their entire apartment through items found on the street. Granted it took them over a year to find all the pieces, but it’s one of the most cost-effective ways to live in NYC on a budget!
This goes without saying, but use your best judgment and inspect all pieces before blindly just taking them home.
Join a Coffee Membership Program
While I’d love to advocate for ditching coffee runs altogether and sticking to home-brewed drinks, I understand the temptation to pop in for a coffee every now and then. The problem? Lattes are hitting $8 at most cafes, it’s nuts! Whether it’s convenience or habit, grabbing coffee on the go is hard to give up. But I have a solution.
For $40 a month, Pret A Manger offers a cafe membership that is too good to pass up on for those looking to live in New York City on a budget. The program is called “Club Pret” and members can enjoy up to five drinks a day (yes, really) and receive 20% off everything else in the cafe.
This is a great money-saving hack for folks who enjoy specialty drinks like lattes. The average price for a matcha latte in NYC is currently around $7-8. Getting a latte a few times a week will easily set you back $100 on a monthly basis.
Shop at Trader Joe’s
Here’s one of my best money-saving tips for living in New York City: not all grocery stores are created equal.
If at all possible, try to do the majority of your shopping at Trader Joe’s. The reason? Trader Joe’s has the same prices across all stores, regardless of location. That means the prices you’re paying now (wherever you live) will be the same prices you’ll see in the Big Apple.
I’ll never forget the time I needed a quick pinch of cinnamon, so I swung by my local grocery store to save time. I was shocked to find a standard-sized bottle of ground cinnamon priced at $9! Without a second thought, I headed to Trader Joe’s, where I picked it up for $2.
The downside of shopping at Trader Joe’s is that half of NYC will be shopping with you. The Traders Joe’s in the Upper West Side is the busiest in the world and if you try shopping anytime after 10am, you’ll find yourself in a very long line. But if you’re trying to live in NYC on a budget, long lines are the price you pay to save money on groceries!
Helpful New York City Relocation Tips: Know about Costco online. One of the best tips for living in NYC on a budget is to stock up on pantry staples like chicken stock, beans, nuts, snacks, etc. Buying in bulk saves money in the long run. Plus, you don’t have to be a Costco member to shop online, which is really nice.
Take Advantage of All the Free Events
Nicknamed the city that never sleeps, New York City has a never-ending list of events hosted year-round, better still — a plethora of those events are free. Download Eventbrite, it’s an app that lists current events taking place in NYC, or follow free event pages on Facebook and Instagram.
If you’d like to take a deeper dive into free events, here is a quick round-up of free things to do that you can add to your calendar to save money living in NYC.
- Bryant Park | Calendar of events
- Kayaking on the East River | Check schedule here
- Summer on the Hudson | Calendar of events
- Taking the Staten Island Ferry to see the Statue of Liberty up close
Find BYOB Restaurants
A few restaurants in New York City allow you to bring your own beer or wine (BYOB). This is the ultimate money-saving hack for living in NYC for those who enjoy a bottle of wine with dinner without the steep price tag (a bottle of wine typically starts at $60+ most places).
Here is a quick round-up of restaurants that are BYOB:
- Tartine | French restaurant in the West Village
- Lucali | Popular pizza joint in Carroll Gardens
- Casa Adela | Puerto Rican restaurant in the Lower East Side
- Panna II | Indian restaurant in the East Village
- Peking Duck House | Chinese restaurant in Chinatown
Take Advantage of the City’s Walkability
There are a few budget-friendly ways to get around NYC, like the subway ($2.90 per trip) or opting for a Citi Bike membership ($18.33/month). But if you’re looking to live in New York City on a budget, your legs are going to be your best bet.
Luckily, NYC is a very walkable city, with quick access to most things you’d need. You’re never too far from a grocery store, a post office, or a coffee shop. Another money-saving tip for living in NYC on a budget is to avoid Uber and Lyft altogether.
This is especially true when it comes to getting into the city from the airport. A car service will cost you upwards of $100+, whereas taking the subway will cost you less than $15.
Take Advantage of the NYC’s Great Cheap Eats
Just because you’re living in NYC on a budget doesn’t mean you can’t have an exciting social life. The Big Apple is a foodie’s paradise and it’d be a pity to abstain while calling the city home. Thankfully, there’s no shortage of great meals to be had for less than $15.
One of the best budgeting tips for living in NYC is to find affordable restaurants and limit nights on the town. As long as you’re realistic with yourself and realize that you (probably) can’t go out five times a week, you’ll still be able to incorporate fun dinner dates, even on a tight budget.
When all else fails, New York City is no stranger to phenomenal pizza joints, grab a group of friends and split a pie.
We have a guide on the best cheap eats in the city. But if you’re short on time, here is a round-up of the best meals to be had on a budget:
- Mamouns Falafel
- Pizza slice shops
- Grays Papaya
- 7th Street Burger
- Tasty Dumplings offers a bag of 50 dumplings for $16, granted these are to-go, but still!
Opt for Happy Hour Meals
If you love a strong libation to cap off the week, do yourself a favor and stick to happy hour drinks when possible. Living in New York City on a budget is attainable if you are strict with yourself and cut back where you can.
Some of the best happy hour spots in the city serve cocktails and snacks for less than $10, whereas the regular menus come with a $22/drink price tag (before tip, ouch!). And in true New York fashion, there are some great happy hours in NYC.
So if you’re eager to enjoy New York City without emptying your wallet, make happy hour your go-to strategy.
Want More Money-Saving Tips for Living in NYC?
Never Pay Full Price for Broadway Tickets
Experiencing the thrill of Broadway shows is a major perk of living in New York City, but unfortunately, it’s also one of the most expensive experience. Shelling out $150+ seems to be the norm, but luckily there are money-saving tips for those looking to live in NYC on a budget.
The TKTS Ticket Booth located in Times Square sells discount Broadway tickets (sometimes for as much as 60% off!). We’ve created a complete guide on how to save money on Broadway tickets including helpful tips and tricks to help you experience the magic without breaking the bank.
Download Too Good To Go
If you’re aiming to live on a budget in NYC while still indulging in the city’s famed bakeries and restaurants, give Too Good To Go a try. This app is all about cutting waste and saving money!
Here’s how it works: bakeries, cafes, and restaurants package their leftover goods instead of tossing them and they sell them at different price points on the app. You choose your “surprise bag” location and pick it up at the designated time, typically in the evening. It’s a bit of a game since you never know exactly what you’ll get.
I once ordered a surprise bag for $5 from a bakery near my apartment and received more than $80 worth of goods (including two loaves of artisanal bread). Other times, I’ve walked away with only two croissants. Still, for less than $10, you can roll the dice with pizzerias, bakeries, and restaurants. Not to mention, you’re helping reduce waste while still treating yourself to your favorite spots.
Need more app recommendations? Here are 10 Helpful Apps to Download When Visiting NYC.
Budget-Friendly Living Tips for NYC (Post Summary)
- Walk everywhere
- Keep your meals under $15
- Only go out during happy hour
- Look for “no fee” apartments
- Thrift your furniture
- Join a Coffee Membership Program
- Shop at Trader Joe’s
- Take advantage of free events
- Download Too Good To Go
- Never pay full price for Broadway tickets
- Find BYOB restaurants
Frequently Asked Questions: Budget Living NYC
Living in New York City on a budget is possible, but it requires careful planning and resourcefulness. Cooking at home instead of dining out frequently can save significant money, as can utilizing public transportation instead of taxis or ride-sharing services. Taking advantage of free or low-cost entertainment options such as parks, museums with suggested donations, and community events can help keep entertainment expenses down.
The amount of money needed to live in New York City can vary greatly depending on one’s lifestyle, housing preferences, and financial obligations. Generally, to comfortably cover necessities such as rent, utilities, groceries, transportation, and healthcare, individuals often aim for an annual income of at least $50,000 to $70,000.
The amount of money needed to move to New York City varies based on several factors such as relocation costs, housing deposits, and initial living expenses. Generally, individuals should budget for several thousand dollars to cover moving expenses, including transportation of belongings, security deposits or first month’s rent for housing, and initial living costs such as groceries and utilities setup fees. At a bare minimum, you should allocate $20,000.
More Helpful Related Links:
How to Blend in With the Locals: 10 Things That Will Make You Look Like a Tourist in New York City
Tips for Having the Best Trip: 20 HELPFUL Tips for Visiting New York City (Local’s Guide)
Don’t be a Victim: 12 Terrible Tourist Traps in New York City (And How to Avoid Them)
Equip Yourself With the Best: 10 Helpful Apps To Download When Visiting NYC (For a First Trip)
How to Sound Like a Local: 10 New York City Slang Words You May be Unfamiliar With
I trust these budget-friendly tips for living in NYC will smooth your transition to the city. Welcome to New York—we’re thrilled to have you here!
Cheers.
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