The Cost Of Living In New York City

1159 Words3 Pages

Alex Bair
HON Comp
5-16-17

The cities of London and New York City have many things in common. They are both big cities and provide many opportunities for many things. Although the city of New York is heavily populated, one can find entertainment within a couple hours; However if one wants more history and cheaper living, while being in a bigger city, London would be a better choice.
While New York City and London are both big, London is the bigger of the cities. London also has more people. However there are many more reasons of difference between these two cities.
The cost of living in New York City is very high. It costs about $7300 to keep a standard life and have some luxuries in New York. It is one of the most expensive cities to live in the world.Price per Square Feet to Buy Apartment in City Centre is about $1107. (Numbeo). According to the Huffington Post, in 2012, “In New York, the minimum wage is $7.25, far below the $11.86 an hour it takes to actually live in the city, according to the Living Wage Project.” (Huffington Post). In 2015, the median asking rent in the city accounted to 58.4 percent of the median income. This is awfully expensive considering that “reports indicate that the median resale value for homes in Manhattan has reached …show more content…

The cost of living in London is very high, however less than so living in New York City. It costs only about £4,495 (about $5816) to live in london with the same standard life and luxuries as in New York City. It is the second highest city to live in in the world. The price per square feet to buy an apartment in city centre is about £1325 ($1714). (Numbeo). Terry Smith, chief executive of broker Tullett Prebon said, “The UK economy is an utter disaster on any number of fronts.” The new rate that comes into force in the UK jumps to the top of the list with the most onerous tax burden for any worker earning £500,000 or more. (Daily

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