There is no single cost of living in New York City that describes every household. A useful budget begins with the home you might rent, the job you would take and the routes you would use. MoveNumbers can help compare broad city estimates, but its default salary and regional rent data do not describe your particular household.
Start with recurring cash costs
Create one column for your present home and one for your candidate NYC address. Use take-home income after payroll deductions, then list rent, tenant-paid utilities, food, transportation, insurance, debt payments and household-specific expenses. Do not substitute gross salary for money available in your bank account.
Here is an illustrative monthly budget, not a report of NYC prices: rent $3,000; utilities and internet $220; food $650; transportation $200; insurance and healthcare $300; other recurring spending $500. That totals $4,870. With $6,200 in monthly take-home pay, the remaining $1,330 must still cover savings and any omitted expenses. With $5,000 take-home, only $130 remains. The housing address and payroll estimate matter far more than a broad claim that one salary is enough for everyone.
Compare apartments on the same basis
Record the bedroom count, lease term, required fees and which utilities are included. Separate a temporary concession from the ongoing rent. For example, a quoted $2,750 net-effective rent and a $3,000 recurring payment are different cash-flow requirements; read the offer rather than assuming one replaces the other.
HUD-based figures on this site are area estimates, not available apartments. HUD's rent documentation explains the source program. Check the current listing and lease terms for the actual property.
Test the commute before choosing the cheaper apartment
Use the MTA's official service information to check the route, transfers and service times for your schedule. Measure door-to-door travel rather than just time on a train. A lower rent can still mean a more expensive or difficult routine if your work hours do not fit the available service.
Keep time separate from money. An extra 30 minutes each way on 20 commuting days adds 20 hours monthly. You can decide how much that matters without presenting your personal value of time as a transit fare.
Plan the cash needed to arrive
Add deposits, the moving quote, possible overlapping leases, travel and essential setup purchases in a separate one-time column. Avoid assuming a refundable deposit is an expense you never recover, but do include the cash you must have available when it is due.
Use the NYC and Austin comparison as one worked starting point, or choose your own origin city. Then replace the modeled amounts with your actual quotes. This guide does not assert a current citywide rent, tax bill or minimum salary.