Pros and Cons of Living in New York in 2024

In New York City, there’s nothing you can’t do. That’s why so many people dream of moving to this metropolis. 

But with so many people choosing to become New Yorkers, overcrowding straps resources. Constant hustle culture and exorbitant cost of living are just a few challenges to consider. 

If you’re considering a move to the Big Apple, here is Landing’s list of pros and cons of living in New York to consider before making the move.

Is Moving to NYC Worth It: Advantages & Disadvantages

What’s living in New York like? It depends on which one of its 8.3 million residents you ask. For some, food from every corner of the world, extensive public transport, and a massive economy are great reasons to live in NYC. The green spaces and 24/7 culture just sweeten the deal. Others might complain about constant noise and exorbitant cost of living. 

Here are some key elements to consider if you’re thinking about becoming a New Yorker.

1. Pro: Jobs for Every Trade

NYC lives up to its reputation as a city of possibility. The job market is full of opportunities in nearly every industry and at all experience levels. Whether you want to be a costume designer, financial trader, or urban park ranger, you’ll find a job listing here. 

The NYC job market took a dive during the COVID-19 pandemic. But, after a slow economic recovery, employment levels returned to pre-pandemic levels in early 2024. Job opportunities vary greatly among fields, making it important to weigh your industry’s growth potential. 

Currently, there’s promising growth in health care and social assistance, finance and insurance, scientific and technical services, and administrative work. Blue collar industries like construction and manufacturing and service jobs (hospitality, retail, and real estate) are losing jobs.  

2. Con: It’s Extremely Competitive

The world’s best and brightest move to the Big Apple to make a name for themselves. That’s probably what makes it one of the most competitive cities in the world. 

The fierce competition extends beyond the job market to nearly every aspect of life. Finding an apartment, grabbing a seat on the subway during rush hour, or getting tickets to a hit Broadway show can all be challenging. High demand for limited resources and opportunities means you need to be prepared to stand out and persist, which makes it both an empowering and exhausting place to live.

3. Pro: It’s Hard to Get Bored

For people who love nightlife, this is truly a city that never sleeps. Bars generally stay open until 4 a.m., and if you don’t feel like going home after last call, you can always find an afterparty or a spot at one of the city’s 24/7 diners. 

And the nightlife isn’t everything. New York is full of fun activities at all hours of the day. Once you’ve exhausted your tourist bucket list (a visit to the Statue of Liberty and the Empire State Building), you can entertain yourself like a true New Yorker. Start your day in the serene Conservatory Garden in Central Park, stop by the American Natural History Museum, hunt for hidden treasures at the Chelsea Flea, and finish with a meal at the Essex Street Market. And that’s just a list of a few things in Manhattan! 

4. Con: The Noise

Sirens, above-ground trains, and honking cars are constant companions. The persistent background hum makes finding peace and quiet a real challenge. In fact, 9 out of 10 adults in NYC are exposed to excessive noise levels that the EPA considers harmful. 

The level of noise pollution varies greatly depending on where you live in NYC. In densely populated neighborhoods in Manhattan, quiet apartments are rare finds. The outer boroughs generally offer quieter streets, especially if you steer clear of avenues and areas with late-night bars. But even carefully choosing a tranquil, tree-lined street with short brownstones doesn’t guarantee quiet if you get stuck with a noisy neighbor. 

5. Pro: Extensive Public Transportation System

Many cities in the United States are designed for cars. That’s not the case in NYC. Many New Yorkers never get a driver’s license. The subway system runs 24 hours, has 700 miles of tracks, and has more stations than any other subway system in the world. 

And if you can’t get around on the subway, there are plenty of other options. There’s a ferry service to take commuters around Manhattan, Queens, Brooklyn, and Bronx, buses that run in all five boroughs, and an extensive network of bike paths. 

6. Con: High Cost of Living

New York is consistently ranked as one of the most expensive cities on the planet. According to RentCafe, the cost of living is 38% higher than the rest of New York state and a whopping 76% higher than the national average. The cost of living will vary enormously from one neighborhood to the next, even within the same borough. For example, Billionaires Row in Midtown Manhattan and the Upper East Side are exponentially more expensive than Inwood and the Lower East Side. 

Expect housing to be a considerable expense. RentCafe’s estimates put the average monthly rent at about $4,470. Home prices settle around 1.7 million. To absorb the high costs, many New Yorkers opt for small studios, roommates, or housing in distant corners of the outer boroughs, which may challenge their overall quality of life. You’ll also be paying premium prices for groceries, entertainment, and healthcare. 

As of the 2022 Census, the median household income was just $76,607. If your yearly salary hovers around the median, it can be difficult to meet financial goals like setting aside money for retirement or building an emergency savings fund. 

7. Pro: It’s a Welcoming City

Despite New Yorkers’ reputation for being rude, the city was recently ranked the fifth friendliest city in the world. It’s likely because of NYC’s long history of welcoming outsiders. Once the main port of entry to waves of immigrants from around the world, today, it’s still a place that offers refuge to newcomers. Regardless of your ethnicity, sexuality, or economic background, you’ll find your tribe in New York. 

8. Con: The New York Weather

NYC is on the Northeastern Seaboard, so don’t expect warm sunshine year round. The city experiences all four seasons — sometimes intensely. Winters in NYC are cold, snowy, and windy, with long, skyscraper-lined streets creating powerful wind tunnels. Summertime can be equally extreme, with high temperatures and humidity intensifying the sun’s power. 

5 Other Curiosities About Life in New York

Do you need a few more reasons to relocate to New York? Here’s five:

1. Surprising Number of Green Spaces

Despite its reputation as a concrete jungle, NYC has an abundance of green spaces. And it’s not just hundreds of acres of parks in Manhattan’s Central Park or Brooklyn’s Marine Park. NYC Parks is America’s largest urban garden program, with 550 community gardens across the five bureaus and a larger metro area. 

2. Art is Everywhere

The Metropolitan Museum of Art, the MoMA, and the Guggenheim are just the most famous names in the art world. There’s also the New Museum, the Whitney, and the Bronx Museum. Add to that iconic architecture, street art, and performances on and off Broadway. NYC is a never-ending feast for art lovers. 

3. Language Diversity

More than 800 languages can be heard across the five boroughs. Of that, 360 of them are heard in Queens alone. Linguists, culture junkies, and lifelong learners revel in NYC’s soundtrack of languages. 

4. Close-ish to Nature

New York State is a great place to live for nature lovers. Although it might take a while to get out of the city, you’re not far away from relaxing natural expanses. Serene beaches in the Hamptons and quiet towns in the Catskills Mountains and Hudson Valley are all less than three hours from Manhattan by car. 

5. The City That Pizza Built

From Staten Island to Brooklyn and all the way up to Harlem, pizza is everywhere. New York is home to the first pizzeria in the U.S., Lombardi’s, which is still located in the Little Italy neighborhood of Manhattan. Foodies can make friends with other hungry New Yorkers on one of the city’s many pizza walking tours like Scott’s Pizza Tours. 

Navigate the NYC housing market with Landing

For many, living in NYC is a dream come true. But with people living across five boroughs and more than 350 distinct neighborhoods, it’s easy to get decision paralysis. Landing’s New York City neighborhood guide is a great place to start. We also have dedicated agents ready to help you find your perfect NYC apartment, whether that means being close to the subway or a pizza shop. 

Become a Landing Member today and find the right place to live in NYC in our fully furnished apartments with flexible leases.