Thinking of Moving to New York?
Crowded streets, expensive rents, a competitive job market. No one ever said moving to New York was easy. After all, this is a city with nearly 8 million people packed into five boroughs (with more than 1.5 million living on the sliver of an island that is Manhattan). New Yorkers will often the say the “highs are higher and the lows even lower.” Perhaps New York isn’t for everyone but for many, it’s the only city they can imagine living in.
New York City Essential Resources
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Moving to New York Checklist
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Living
While a recent report in spring 2016 showed rents in Manhattan dropping, the average rent is still $3,300 per month. Regardless of the fluctuating price tag, be prepared for the sticker shock. Often times, if a deal is too good to be true, then it really is just that. In your apartment hunt, have all your paperwork and financials together because the application process is competitive.
Transportation
New York’s sprawling system, while imperfect, transports more than 5 million around the city every day. Certain trains are more reliable than others and it’s good to be aware of weekend and night schedules, which can changea because of track work. There’s also a growing bike share program called Citi Bike to take advantage of during the warmer months. The rise of transportation apps like Uber, Via, Gett and others also offer alternatives to the ubiquitous yellow cabs.
Weather
New York gives you taste of all four seasons. While winters can be bitterly cold and summers can be hot and humid, spring and fall are often the best times to be in the city. The weather can often change on a whim with a snowstorm one week and spring like conditions the next that melts everything off the streets.
Average temperature in August (warmest month): 88°F high, 75°F low
Average temperature in January (coldest month): 39°F high, 26°F low
Economy
Numbers alone can’t tell the story of New York City’s economy. From real estate to tourism and the financial industry to fine arts, the local economy is driven by numerous industries, many of them based in the Big Apple. While certain job sectors are extremely competitive, there are many employers that have contributed to the steady increase in employment and wages. Tourism is high and real estate development keeps growing. On the other hand, New York regularly ranks as one of the country’s most expensive cities to live in.
Unemployment rate: 5.4% (as of February 2016)
Average weekly wages for all industries: $2,847 (first quarter 2015)
Where New Residents of New York City Are Moving From
As the biggest city in the U.S., New York City…
