New York is one of the most expensive study abroad destinations in the world, ranking among the top 10 in the cost of living index. Thus, it is highly recommended that students should be well aware of the total expenditures while living in the city.

An international student can expect a monthly expenditure of 1,428 USD (1.17 lakhs INR), excluding rent. The overall cost of living in New York is influenced by a number of variables, including whether you choose to live in an on-campus or off-campus accommodation. There is a range of resident options available in New York City along with different meal plans. Most residents in NYC are offered facilities like Wi-Fi, telephones, TV with cable, and a living room.

On-Campus Housing Cost in New York

The cost of on-campus housing in some of the top universities in New York is tabulated below:

Off-Campus Housing Cost in New York

The cost of off-campus accommodation is determined by the type of room you select, as well as your location, the number of roommates you have, the facilities, and other factors. The estimated monthly off-campus accommodation cost is around 4,229 USD (3.49 lakhs INR) for international students. Some of the related accommodation expenses are as follows:

Cost of Meals in New York

International students can expect an estimated monthly expenditure of 534 USD (44,171 INR) on meals and groceries. The detailed breakdown of the same is given in the table below:

Transportation Cost in New York

One of the best and cheapest ways to travel around New York is by buses or subways. A single subway trip cost around 2.75 USD (227 INR). If you intend to travel via subways in New York, you can also get a monthly pass from Metropolitan Transportation Authority that costs around 127 USD (10,499 INR).

Some of the related transportation expenses are listed below:

Medical Cost in New York

Some of the medical costs in New York are listed below:

The university's health insurance program provides coverage for the majority of international students. In most cases, the clinical health centre on campus is adequate to treat the occasional cases of illness. However, if you find yourself in the unfortunate situation of needing to use the hospital emergency room, you might be presented with a medical bill that is equal to two times your monthly salary. So, it is better to take care of your health while you’re on your own in a foreign land.
Checkout: Health Insurance in USA

Personal Expenses in New York

Apart from the tuition fees and housing rent, there are many miscellaneous expenses that might be incurred while living in New York.

The personal expenses also include the cost of clothing. The table below gives a certain idea for the same:

Tips to reduce the cost of living in New York

While studying and living in New York, you might find yourself wondering, “How can I lower my cost of living in New York?”. Given below are some of the tips for you to consider if you want to spend less:

• Accommodation: While trying to find accommodation in New York City, it is much better to look for both on-campus and off-campus housing. Most of the time, on-campus housing can prove to be much cheaper than off-campus accommodation, but they have strict rules regarding the total number of occupants. Off-campus housing can be expensive, but you can choose to live with roommates, which can help to reduce your per-head cost. It is advisable to go through all the pros and cons before signing any lease.
• Travel: If you want to reduce the cost of travel, the public transportation system is the best option. New York city offers a wide variety of transportation options, including bus, subway, commuter rail, and even ferries. The city has 5,725 buses and 27 subway lines (connecting to 472 stations), which together provide access to every part of the city. Being the most populous city in the world, New York's public transportation system is well-equipped to handle all that traffic on a regular basis.
• Part-Time Jobs: You can cover some part of your expenses by working in part-time jobs. If you are an international student, off-campus jobs might require a proper authorization from United States Citizenship and Immigration Service (USCIS), but you can easily work in on-campus part-time jobs. You can work for up to 20 hours per week during school days, and full-time during vacation periods. Some of the part-time jobs that you can do include Library monitor, Research Assistant, Teaching Assistant, Campus tech support, and University bookstore assistant
• Overheads: While living in New York, there will be many overhead expenses, other than the tuition cost and rent of your house. These include groceries, housing utilities (electricity, phone, internet, and water bills), and expenditure on other leisure activities (shopping, clubbing, and eating out). Being your own accountant and following a proper budget can help you save a huge amount of money, and use it on unexpected expenses that might occur in the future.

Explore: Part-time Jobs in USA

Even though New York is among the most expensive cities in the world, the extravagant lifestyle enjoyed after graduation justifies the cost. With the availability of some of the best universities and a sufficient supply of scholarships, New York City is among the best locations for studying abroad.

FAQs

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