New York is a somewhat expensive city, but one that can be adapted to everyone’s budget. Accommodation, transport and food offer many opportunities to reduce your expenses.
What is the budget for a stay in New York?
New York is a very popular tourist destination. In 2015, the most populous metropolis in the United States welcomed more than 58 million visitors, a new all-time record for the state capital. New York wields such power in areas as diverse as finance, international trade, technology, the arts and entertainment that it is often referred to as the world’s capital.
Tourists to NYC therefore come in all shapes and sizes: business people, students, families or travel groups. The duration of these stays also varies greatly.
Calculating how much money you will need to spend in NYC depends on several criteria. However, here is some information and valuable advice to help you establish the best New York budget.
Your transport budget in New York
A significant part of your New York budget will be spent on transport, which essentially includes your return air ticket, transfer from the airport to your place of residence or the transport you will use to get around the city on a daily basis.
The price of a plane ticket: this varies greatly depending on the season. Generally speaking, prices fluctuate within a certain range.
- From January to March: from $380 to $490.
- From April to June: from $540 to $650.
- From July to August: from $760 to $1085.
- From September to November: from $540 to $650.
- In December: around $700.
The price of a plane ticket from Paris to New York can therefore vary from simple to triple, with the most expensive periods corresponding more or less to the French school holidays (Easter, summer or end-of-year holidays). Airlines regularly offer special deals on this flight. Sometimes you can find the best promotional fare from another European capital close to Paris (Brussels, Frankfurt, London…).
The price of the airport transfer: the distance between the airport and your accommodation can be covered by different means of transport.
The cheapest system is to take the Airtrain and then the underground. A single ticket from JFK airport will cost you about $8/person. From Newark Airport, the Airtrain and then the train will cost you $12/person for a single trip.
You can also take a shuttle taxi which costs $22/person one way. Yellow taxis will charge you just over $60.
The cost of getting around New York: once you arrive in the city, buy a public transport card that suits your needs. If you are staying for a week, buy the Metrocard. It allows you to travel around the city with unlimited use of public transport.
If you prefer to take NYC’s famous yellow taxis, the average fare in the city is between $8 and $10.
Your accommodation budget in New York
If you are not lucky enough to have a friend who invites you to his or her home in New York, accommodation expenses will probably be the biggest item in your budget. New York is a very expensive city to live in. Again, the price you pay will vary greatly depending on the season you travel and the type of accommodation you choose.
Hostel or dormitory accommodation: this is the cheapest option. You can expect to pay between $30 and $60 per night. The Hi NYC Hostel and the West Side YMCA are two very clean and inexpensive hostels.
Renting a room in a hostel: all options are available, from small, cheap single rooms to self-contained studios in the heart of the city. Prices start at around $50 per night. The average price is $100. You can find existing offers on sites like Airbnb.
Affordable hotels: you should expect to pay between $100 and $250 per night. Hotels like The Pod 39 or Aloft Brooklyn are among them and offer good value for money.
More expensive hotels: These hotels are of a higher standard and will cost you more than $250 per night. If they are very well located, offer very good services and you are in the high season, this same rate can rise to $500 a night. In palaces and five-star hotels, prices soar to over $1000.
Accommodations in New Jersey are often more economical than those in the central NYC area, although you should consider the cost of the Path (the train that connects NJ to NYC), which costs $29/person and is unlimited for a week.
Your food budget in New York
How much you spend on food depends on how much you want to eat. If you only eat at fast food restaurants, or if you prepare your own food in your small studio apartment, you can keep your costs down.
On a budget: a standard breakfast at a Starbucks costs between $5 and $7 per person. This price includes a hot drink and a muffin or cookie.
A normal menu in a fast-food restaurant costs $10 per person. This includes a burger, fries and a drink. In an unpretentious restaurant where they cook daily specials, you should expect to pay $10 for a main course (pasta with sauce, pizza, meat, etc.) and $20 to $25 for a complete meal including starter, main course and dessert.
For a comfortable budget: New York has a plethora of restaurants. The average price is $50 per person. By alternating between the budget restaurants we mentioned above and the more sophisticated ones, you can get by for $80 per day per person.
Of course, there are also gourmet and Michelin-starred restaurants in NYC. Prices start at around $60 and there is no real maximum.
Your leisure budget in New York
The amount of money you spend on sightseeing, going out at night, or shopping will depend on your personal desires and the lifestyle you adopt during your holiday. Simple pleasures such as buying a cold drink and a pastry cost just under $10 per day per person.
Visiting major sites: To keep the cost of all the tickets to museums and historic sites down, it is recommended that you buy a pass such as the New York City Pass. This card allows you to visit the best attractions freely for the modest sum of $114 per person.
Shopping: this budget depends very much on what the tourist buys. The shopping budget is very variable, as it is also very personal. Let’s say an “I love NY” t-shirt or mug is about $10 a piece, a pair of Levi’s jeans is just under $50, jewellery from Anthropologie is $40, or a pair of Converse, New Balance or Nike trainers will run you a little over $50.
Go out at night: attending a New York Knicks or Brooklyn Nets NBA game is a must if you want to get into the true spirit of New Yorkers. You can find tickets from $25 per person. Your stay in NYC is the perfect opportunity to see a Broadway musical, with an average ticket price of $75.
And of course, anything free like a walk in Central Park, a visit to MoMA on Friday afternoon, a visit to the Guggenheim Museum on Saturday afternoon (and others that you can find in our museum tips), go for a free beer on Tuesdays at the Bierkraft (191 Fifth Ave near Park Slope Brooklyn), enjoy a free pizza at the Mark Bar at 6pm (1025 Manhattan Ave, Brooklyn)…
Change money? Withdraw from the ATM? What to do?
To avoid problems when you arrive in New York, plan to change euros into dollars before you leave. Having a few hundred dollars in your pocket when you set foot in the United States will give you some peace of mind. You can then withdraw cash locally with a bank card.
- ATMs: they are everywhere. They are called ATMs (Automated Teller Machines). Be aware that each transaction you make is subject to a commission of 2 to 3 dollars. This fixed fee is in addition to the fees charged by your own bank. So avoid taking out small amounts at any time and opt for large, less frequent withdrawals.
- Currency exchange: Changing money locally is not an option that benefits you, as currency exchange offices usually charge high commissions and very unfavourable rates. However, if you need to, you can go to one of the Chase Bank branches, American Express branches or the small exchange offices that are located in every neighbourhood.
- Pay for your purchases with your bank card: In the United States, Americans pay for everything with their bank card. This is also the most convenient and economical way to pay for your purchases. Don’t forget to bring your ID with you, as some merchants may ask you to show it when you pay.
All these prices are indicative and may change. Please note that all the prices you will see displayed in the shops are without taxes. You must therefore add 14.25% to the total price you pay. In a restaurant, you should also add a 15% “voluntary” tip.
For your major purchases and all the items you bring back to France, don’t forget to keep your receipts and find out the conditions that apply to tax-free shopping to see if you can benefit from it.
