What Makes New York City More Expensive Than London?
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- Опубликовано: 17 май 2024
- New York ranked one of the most expensive cities in the world in 2022 whereas London ranked 28th, according to Worldwide Cost of Living 2022 from Economist Intelligence. It would cost approximately $9,500 US dollars to maintain the same lifestyle as about $7,200 dollars would get you in London, according to data collection project Numbeo. Watch the video above to learn more about the cost of living in New York City and London and why people choose to live there despite the inflated price tag.
Chapters:
00:00 - Introduction
01:37 - Basic expenses
04:45 - Income and taxes
08:12 - Is it worth it?
Produced, Shot and Edited by: Charlotte Morabito
Additional Camera by: Mark Licea, Jack Hillyer
Graphics by: Jason Reginato, Alex Wood, Christina Locopo
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images, Lucy Wong, Lily Slater
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What Makes New York City More Expensive Than London?
As a Birt who has been living in the USA for the past 25 years, the report ignores one major factor; income tax in the UK includes social security and health care. The UK National Health Service, and UK pensions, are both financed through income tax revenue. For a valid comparison of disposable incomes, which has a direct influence on spending power and, therefore, relative affordability, one should deduct the cost of USA healthcare premiums, deductibles and co-pays, as well as Social Security taxes, from gross income to get net income. If a Londoner and a New Yorker both earn the same dollar amount, the Londoner will have a lot more spending power!
You forgot a very important thing, jobs in London also come with vacations! 23-28 days a year!
@@cheezy2455if you work a 5 day full time job in the U.K. you’ll get 28 minimum days by law.
@@cheezy2455 Why? How many is it in the USA?
@@shuerzz5403There is no federal minimum number of vacation days in the US. It is up to the employer to decide and is ultimately viewed as part of the employees benefits package.
@@scottkeith2587 Oh. Okay, wow. I feel like it is a double edged sword because if it is a good company they may offer more than 28 days or am I wrong? I feel like a good company here in the UK will keep it at 28 days minimum because that's what the government is asking for at the bare minimum.
When people are saying London is cheap, somethings up
It’s all about perspective. London is certainly up there as the most expensive city in Europe.
Of course London is cheap when you are earning enough money to pay for London prices. But the reality is that very few if any British people actually earn enough to live comfortably in London... This video was just centered around high income earners; which don't represent the reality for the majority of the population. Out of touch you could call it.
When you earn British pesos everything is expensive
All things are relative the two girls were not the rich at best upper middle income. That salary can sustain only a simple lifestyle in NYC I lived in Manhattan ten years ago under a subsidized housing program and yet I found that leaving NYC nay the country was my best out…I can only imagine what it must be like now
British pesos? 🤔
Fun fact, you can travel from the center of Manhattan to the center of London without going outside? Here's how.
1. Take the E, J, or Z train to Sutpin Blvd/Archer Avenue
2. Go up two levels and take the AirTrain to JFK Terminal 4
3. Take Virgin Atlantic to London Heathrow
4. At London Heathrow, transfer to the London Underground
5. Take the London Underground to the center of London
You have arrived in London without stepping a single foot outside. While it may not feel like being in the same city, I believe it adds a certain kind of connection between New York and London you may not get with other cities
You can do that between LHR or EWR or JFK with Singapore or Tokyo too
@@hac129 Do you think this makes the cities feel more connected.
This "connection" exists between basicaly any moderately sized cities. Really not that special at all
@@triplediff But only if they both have robust major underground public transportation systems, which is why it isn't really possible to go from any subway station in NYC to the center of Houston, for example, without going outside (excluding driving and parking in an indoor garage).
@@davidempire4874cities outside the US exist buddy. You still have to step outside your home. This logic doesn't make much sense. Once you get to the airport, you can go anywhere in the world without stepping out. Maybe not downtown, but that adds no value other than convenience
I was born in NYC and raised in Queens and on Long Island. After college, I lived in Manhattan for nearly a decade and then moved on, after securing a new job in Washington D.C. I honestly believe that the quality of life in the DC metro is much better than NYC. I love to visit NYC, but I have zero interest in ever living there again.
Mentally living in NYC is not the best also the safety.
Interesting, thanks for the insight.
saying New York is expensive because it's walkable and good City lol. Cities with the poorest infrastructure often have the highest real estate rates. That's evident in New York
The D.C. area is a completely soulless, soul destroying place. The DMV is definitely the most miserable and painful part of the United States 🇺🇸 that I have lived in.
Same here been in NYC Staten Island and Queens even if i got a lower salary i would not want to live in NYC there is no quality of life here
I agree London is cheaper but the salaries here are terrible! The only people living good in London are those who get paid abroad or have their own company where they can fiddle their taxes
spot on
London's salaries are ridiculous for the high living costs. Many rich kids and heirs are in London, all bankers can survive too of course.
I don't want people to now start thinking London is cheap. Compared to the rest of Europe, London (and Paris) are by far the most expensive places to live, with pretty mediocre quality of life unless you are in the top 10% of earners in the country.
Yeah definitely, for European standards London is very expensive. Live is much cheaper in capital cities like for example Berlin and Vienna
Quite often people forget that NYC is not just Manhattan island but also includes the boroughs. Manhattan island is very expensive for sure because for one thing the real-estate is very limited but when you factor in the boroughs it's not so bad
saying New York is expensive because it's walkable and good City lol. Cities with the poorest infrastructure often have the highest real estate rates. That's evident in New York. The far out boroughs of New York offer much lower life quality, jobs and require transit to main city. Things which don't apply to London.. Not even talking about the universal healthcare and social security offered in UK
Downtown bklyn is just as expensive as manhattan
Yes, this video is a farce. The girl said she had a studio in New York, yet compares it with a room in London. London is huge in area and has many houses, especially away from the centre. Having a room in a shared house is cheaper than a studio. GBP is also an almost worthless currency.
As a Londoner I finally went to NYC after a lifetime of being enamoured (thanks to a childhood brought up with US tv programmes) and found the cities were starkly different. NYC was taller and the built environment more imposing, London more crowded and more buzzing (NYC was too, but not like London), especially at night -London more historic, cleaner and beautiful, but less dramatic. Also people mix more in London, and class and race don't correlate. NYC was way friendlier, but more edgy -with the inequality far, far higher and evident on every street, every time you took the subway between places, every time you saw the homeless and mentally unstable on each corner, whereas in Europe your taxes would go towards much more of a safety net, less crime and free healthcare for all.
For example, although the US pays considerably more and costs more, the lowest 10% still earn half their equivalent in the UK -the Gini Coefficient now puts the US on par with India and beating Tanzania for inequality -far behind China now -and NYC is the worlds most unequal city in the OECD. The very sketchiest, poorest streets in London are nowhere near what was a norm the minute you left southern Manhattan (sometimes just a case of crossing a street), which my buddy called 'Athens on trash collection strike, but with rats'. What was most surprising was food wasn't that great in NYC (though portions were HUGE) and marginally worse than London, at every price level -what you pay top dollar in NYC for is much more affordable and a norm in the UK. Though this could be up to personal taste -I've heard the same said vice versa.
Americans were far friendlier, their customer service was so much better and just the general kindness of people on every level shone through. Also weather was better - you actually saw sunshine. I also adored the architectural ensemble (massive skyscraper nerd) -and everywhere felt like a movie set.
Pandemic-era NYC is not the same as "normal" NYC, even now. The "City that never sleeps" now goes to bed at 8pm 😅 Normally the bars closed at like 4-5am, and you could hit a corner pharmacy or bodega well past midnight.
Summer evening streets were always full of people coming home or going out. Loads of free events year-round, so I'm not sure what the video Londoner was talking about.
The inequality has always been bad, but the street/subway conditions have gotten a lot worse. Higher demand - more ppl evicted, fewer hospital beds - but it's hard to build shelters here. They tend to try to dump them exclusively on neighborhoods of color, so it's like a weaponized public service.
Architecture is Manhattan's specialty, but for food or green/open spaces, you want the outer boroughs. The Bronx has more parkland than any other boro, and Queens covers nearly every kind of cuisine in the world.
I have been to NYC twice, summer and fall years ago. I haven't met any friendly New Yorkers, they were just rude. I have no desire to visit again after I check off my statue of liberty 🗽 bucket list.
I visited London 3 or 4 times, I like the pubs. When it rains, the bartender said, just take any umbrella in the bin, people always forgot & left it😅.
Sometimes I feel like there was more Indians than British 😅 in London. Curry menus everywhere.
In Europe, I prefer Rome & Paris, more cultural, more museums, a bit more romantic.
@@___beyondhorizon4664 New Yorkers are in a hurry, and don't take any BS. If you're in distress, or lost, or just want to know the best place to grab a slice we're very friendly. If you're a boorish tourist then you get the cold-shoulder (extra demerits if you're drunk, or blocking traffic in the street or sidewalk).
The current generation missed out on the old NYC, which was filled with talented artists, designers and entrepreneurs. NYC has passed its "heyday" and is moving towards a very steady perpetual decline.
Also, I agree with your assessment about the divide that exist in NYC. Race and income are definitely linked, whereas in the UK, it is not.
everything you said was misinformation, London
is by far worse
Having been born and raised in NYC, not going to lie- the main appeal the city has for me is friends and family at this point (and the fact that you can live without a car). Besides that, the place is so broken that even natives like me often leave. And this is the case in the major US coastal cities- they just look to engross the landlords and business owners, the wealthy and the like. NYC has turned its back on its native sons and daughters. Really is embarrassing and shameful to put things mildly
Native born and raised. And I'm a city worker. I retire in 12, And I'm out 😢 I'll always love NYC, but I can't afford to live here anymore.
Same here but I hope you can stick around. Too many non-natives who move in and cause the prices of the neighborhoods to rise.
Well said.
Non natives are the reason wages are kept so low too- easier to pay them 15$ a hour
This really is an overall American Problem.
Us Americans are being priced out and having to go to other parts of the world to acquire affordable life giving items.
While NYC is more expensive, I feel that the salaries compensate that, however in London its a completely different thing. Salaries here are pathetic to the cost of living here.
Hi guys local NYer here. If you are involved in your communities in NYC, there is literally always something free/ very affordable to do and it feels just as good, if not better, as the pricy dinner night out. It comes down to how connected you are to any urban fabric that will make your experiences outweigh your financial abilities/willingness. Say hi to your neighbor!
So true. Real NY'ers know how to live good on an average salary. Rule number one is don't envy someone who has more square feet than you do. At the end of the day you don't need all that room or the stuff that goes with it. And whenever you do it's available short term for a price.
You can do small gathering in friends houses!
Yes. You can live in a 10X10 bedroom for 2000$ and be happy that you are feeling rich by paying a lot. Then search for luxuries like food and water in free community centres which homeless people do in normal cities
New York feels more scammy - as the Brit says, the price gouging everywhere you turn, and the fact that a lot of basic services seem kind of broken and not kept up-to-date. Like, you can't buy a regional bus ticket with a foreign credit card...
saying New York is expensive because it's walkable and good City lol. Cities with the poorest infrastructure often have the highest real estate rates. That's evident in New York. The far out boroughs of New York offer much lower life quality, jobs and require transit to main city. Things which don't apply to London.. Not even talking about the universal healthcare and social security offered in UK
@@ammkr2757 Then why does the UK have a 30% poverty rate as opposed the the USA poverty rate of 18%? Why are schools crumbling in the UK if it has better infrastructure? Why has UK productivity and economic growth stagnated?
And the UK NHS is completely broken. Any Brit would attest to that. Their country is in a severe economic downturn with little to no growth
@@tylerclayton6081 You're describing the aftermath of Brexit. The UK is crumbling because they cut ties with the EU, which was the stupidest move they ever made.
I’m from London and flew to New York yesterday. New York is expensive. Like really expensive and adding the tax to whatever you buy makes it even worse 😅
I love the line @0:43 that sums it up: “The appetite for price gauging is much stronger here”. This is sooooo true! It’s so bad that if a cashier short changes you, it’s taboo to even say anything! At a bar in NYC, they always short change you $1-3, even if a $3 per drink gratuity was already added on, in effect forcing you to give them a ginormous tip. In NYC, you’d be looked at weird if you contested that, whereas in London, you would look like a pushover if you didn’t object
Some parts of the video felt like propaganda. For eg saying New York is expensive because it's walkable and good City lol. Cities with the poorest infrastructure often have the highest real estate rates
@@ammkr2757Real estate prices go crazy anywhere where 1) foreign investors bid up prices, (NYC, Boston, Seattle, etc, etc), or 2) there is a large real estate industry with a vested interest in driving up prices and causing hysteria (Florida, Arizona, Vegas), or 3) There’s lots of super wealthy in the top 0.1% (Hamptons, Aspen, etc)
And US accent is lot more easier to understand than the British one for non english speaking people like me 😊
That’s very simple
The us accent has been shown on television far more especially at childhood
Just comes down to what you want from life. I left London at 28 to move to a small village / suburb. I miss the constant events in London but I have a 2 bedroom apartment for a price that wouldn't even get me a bedroom in a shared 5 bed apartment in London. My salary is a little lower but in my opinion my life is a lot better. London / NYC are amazing cities....if you're a millionaire or you know how to seriously budget. Otherwise, go elsewhere.
saying New York is expensive because it's walkable and good City lol. Cities with the poorest infrastructure often have the highest real estate rates. That's evident in New York. The far out boroughs of New York offer much lower life quality, jobs and require transit to main city. Things which don't apply to London.. Not even talking about the universal healthcare and social security offered in UK
I've been living in Manhattan for 25 years and I've grown to absolutely despise the place. I even bought a winter home in Florida. But I just can't quit NYC. It's more than a place to call home... it's actually a part of my identity.
omg love the winter home idea
Now that’s the dream living in the biggest city and being able to escape the colder months. Currently live in the Toronto area, I feel I’d like to live in New York but besides how expensive I am tired of the freezing cold winters
You are just a slave of the rat race, that's it
I love living in London but I also love visiting New York
Spent time in London last Summer, having grown up in NYC. 10:38 is absolutely true but, pretty much every other metro I’ve experienced (Boston, DC, PATH, London, Montreal, Paris, Brussels, etc,…) is far cleaner than the NYCTA subways.
As a Londoner, she may not have seen a rat, but we have plenty of mice in the London tube system.
it's true, but having seen both, they're pretty cute compared to NYC rats
I spend time in both cities. London (and the UK) benefits from having free public health care which makes life better for those on lower incomes, who don’t have the worry of paying medical bills. Otherwise, I think they are the most alike cities in the world and I love them both.
Both are great cities IMO. But very difficult to live there without a two-household income with both people being high earners.
What is the point of being two high earners if you spend all your money in taxes, rent and rat traps?
@@claudiocerezo1644 exactly. i really dont get all the fuss. And to be a high earner and be able to spend it all on crap you have to be working all the time as well.
I have lived in both NYC (briefly) and San Fransisco and last summer I went to London for vacation and everything was so cheap! Food was even cheaper because you don't have to pay 20% to 25% tip in the UK. Usually 10% tip would be more than enough which offsets some of VAT in London.
NYC and San Francisco prices are ludicrous and certainly not within the realms of normality. A country like Switzerland which has in modern times been thought of as expensive can be cheaper in certain respects when compared to NYC.
New York City? Yeah, it can be a tough place to live.
First off, it's seriously expensive. The cost of just getting by day-to-day can be way higher than in London. We're talking about basic stuff here like groceries and public transportation, but the real kicker is housing. Rent or buying, it doesn't matter, it's going to cost you a pretty penny.
Plus, there's this weird thing where even though you're paying so much, the city's infrastructure isn't great. You might think the cost would get you top-notch services, but that's not always the case.
And about the boroughs - life outside Manhattan isn't the same. Job opportunities, quality of life, everything takes a hit. And you still have to travel into the city for most jobs.
Compared to London, where you can get a decent life in most parts of the city, New York falls short.
Then there's healthcare. In the UK, you've got the NHS, right? Here, healthcare can cost an arm and a leg, and that's if you're insured.
And let's not forget about food - eating out in New York can drain your wallet real quick. Sure, there's great food to be had, but you'll have to pay for it.
So yeah, as much as we all love the idea of the Big Apple, living there can be a whole other story.
You probably don't realise that GBP is almost worthless since Brexit, so logically it will be cheaper. Today £1 is only $1.22. If you go back to before the financial crisis, it was over $2 for £1. GBP is ludicrously undervalued, so videos like this are pointless. They didn't even mention this important fact. Also, they are trying to use a bit of smoke and mirrors. The girl said she had a studio in NY, yet now has a room in a house in London and it has a garden. Having a room is considered bottom rung of society and isn't comparable to having a studio. London has many houses, rather than apartments, and I bet this house isn't in the centre. Videos like this are always twisting truth.
@@StopMediaFakery Sharing a house with only 1 room to yourself is certainly the bottom rung in the UK when it comes to accommodation. However, you technically have more living space in the shared house than in a studio apartment, even if a lot of the space is shared (kitchen, bathroom, living room). It really depends on personal preference. Do you prefer your own area with a small version of everything (small kitchen, bathroom, bedroom, living area) that is often not separated. Or, do you prefer your own bedroom but larger kitchen, living and bathroom which is separated but shared.
Lol this was so surface level
If you're in any well to do profession (tech, finance, consulting etc) you will net way more in NY as the US pays way way more. Especially over the length of your career as you get raised and promotions, and it's not like your housing or consumption costs change that much
I think the point of the video is not catering just to the tech professionals or upper classes.
Sure I would make tons more in the US... But then I would be living in the US... That would take a considerable paycheck to compensate.
@@zupermaus9276London isn't also for an average non IT/Finance worker. Those people most probably have to live way out of central London and commute a couple of hours
@@zupermaus9276 the video is absolutely catering to those people. Other people don't have the luxury to choose between the two cities
One thing that perhaps makes comparing NYC to London a bit of “apples to oranges” is that London is more spread out and includes neighborhoods which, Stateside, one would consider suburbs as opposed to a part of the city itself. If one included the neighborhoods within 70 minutes of midtown Manhattan (matching approximate distance of Uxbridge, West London to Westminster), I wonder how this analysis would change
I think it’s actually the other way around, because the spread out London neighborhoods are very safe, with good fast transit to Central London. Far off neighborhoods in Brooklyn are much more run down than the outskirts of London, and take 1+ hours to get to midtown NYC by subway, and up to 2 hours on nights/weekends, especially with subway construction
@@lukethompson5558 I don’t necessarily disagree in terms of safety and general livability, but wouldn’t what you’re saying imply that, if one includes these outer neighborhoods, it would make NY cheaper?
Uxbridge to Westminster is not even close to 70 minutes, 70 minutes to central London would put you outside of London. For example I can get from where my grandparents live in Hertfordshire, a separate county, into Liverpool street which is central in about 40 minutes.
@@DankiusMMeme I’ll take your word for it. May have speedier public transport too. Still about 20 miles from city center - in NY that would already take one outside city limits into the suburbs
Uxbridge to Westminster would be about 45 minutes on the Jubilee, quicker if one went changed onto the Metropolitan. It's a bulging, crescent route and a taxi would by quicker 30mins and change going via Northolt, Perivale and White City.
In London you can take the subway anytime and not feel like being punched or pushed to the rails by a homeless person.
Statistically New York is more safe than London. I was shocked when I researched this
But the salaries are very low.
Nyc has less crime than london
Certainly agree this can happen in NY subway however I'm 68 now and nobody has ever punched me nor have I ever seen anyone get punched in the subway. I will say I have seen a couple of shouting episodes though. In general it's contextual in that the US is just a relatively more violent place than anywhere in Europe. However within the US you are much safer in most NYC neighborhoods than most of the other US cities.
@@3markaw Hit nail on the head
For a lot of the 'high earning' roles you pretty much make half as much in London. Making the city feel a lot more expensive to those who actually live there.
I see NY and Singapore are tied for first place. That might make for an interesting comparison.
Nope.
Singapore is so boring; it cannot be compared to New York in any way.
I did not know NY has 24/7 subway. That really is a key to getting rid of cars. People want to go out at night & if they have no public way to get home they will not get rid of their cars. Ubers & taxis get real expensive, real quick.
The 24/7 service, flat-fare, and incredibly extensive/parallelized nature is the NYC Subway's claim to fame. You can cross the entire City (Staten Island doesn't count LOL) for one fare, including buses/transfers, so people can basically live anywhere and work anywhere else. The commuter & intercity rail are world-class as well, and run basically 4am-2am.
lol at the expense of risking your safety, you don't want to get on that NY subway after dark. That's why the upper class NYers never use the subway
@@drsnowmon Maybe lately, sure. But pre-pandemic and historically, everyone rides the subway, rich & poor alike. You just don't know if that guy in the ripped jeans is a barista or a restauranteur. In the beforetimes, I've ridden the subway at 2am, and there's still a ton of ppl riding alongside. Any time of day/night, somebody's getting off shift, or headed to work, so the subway has to run for them.
Having a 24/7 subway system can be good and bad. We already know the good parts about having access to a 24/7 subway system, but the bad part is, there is a a significant number of homeless people who live in the subway, because it's open 24/7. 20 years ago, it wasn't so bad, because there were more mental health services and outreach provided to the homeless, but now, it's very dangerous to take the subway at late hours..
@@mandisaw 20 years ago, when I lived in NYC, I would take the subway alone late at night without incident. It was indeed buzzing with a lot of people, but that is no longer the case.
I've been living in London for 12 years (never in New York), but the free healthcare, pedestrianisation, and wide access to the Tube and National Rail services make it unbeatable with 5 stations (Paddington, King's Cross, Liverpool Street, London Bridge, and Waterloo) allowing fast travel across the country. The living cost is huge (especially rn), but it's also one of the biggest cities in Europe and has anything and everything imaginable for pleasure and business.
Healthcare is not free. It’s ripped out of your paychecks. And not mention the quality is terrible which why most people who make it big in the UK move to the US immediately
The UK is also terrible for trying to buy a home. Worse than the US somehow. Food is also gross
Lovely people tho
@@Rommie26 Healthcare is still a lot cheaper even though it is paid out of taxes. The UK spends a lot less of Healthcare and has better results.
I am not sure what you mean by "The UK is also terrible for trying to buy a home." - Why?
"Food is also gross" Having been to the US I can say the food it quite similar, I would argue the food in the UK tastes less fake.
@@Rommie26The government has been horrendous since the Tories first proposed Brexit, but I'd much rather go somewhere early in the morning for a checkup than have to pay a month's rent in 1 hour. And what do you mean the food is gross? Have you even tried London food? There's cuisines from every corner on the planet in this city, so if you don't like one thing, just go somewhere else.
@@6272jac not true. In fact the US has the best 6 year cancer survival rate. Have you ever thought to yourself why most of your celebrities move to the US as quick as they possible can. And as far as home buying the UK has a worse home ownership rate than the US
Great job on this video! Which of these cities (between London and New York) would you say would be the safest?
Hi, London!! No doubt. Less crime of any type compared to NYC. I know both cities.
Just wanted to say how impressed I was with this video and Charlotte. She's a natural talent and I hope she goes far in her career!
I have lived in Los Angeles, spent a bunch of time in NYC, London and travelled to 52 countries around the world. What I can say is that there are so many great cities that have so much more value for the money than London or NYC
If value-for-money is your main priority, NYC is not for you 😂
It just sucks that in the US, there are so few number of cities where you can get by without a car. And the few that exist are so expensive.
These cities are no longer made for the average income earner. If you happen to land a high-paying job that requires you to be in that city then it's fine. These cities are pushing people out. I would rather live in different cities in the world.
New York City? Yeah, it can be a tough place to live.
First off, it's seriously expensive. The cost of just getting by day-to-day can be way higher than in London. We're talking about basic stuff here like groceries and public transportation, but the real kicker is housing. Rent or buying, it doesn't matter, it's going to cost you a pretty penny.
Plus, there's this weird thing where even though you're paying so much, the city's infrastructure isn't great. You might think the cost would get you top-notch services, but that's not always the case.
And about the boroughs - life outside Manhattan isn't the same. Job opportunities, quality of life, everything takes a hit. And you still have to travel into the city for most jobs.
Compared to London, where you can get a decent life in most parts of the city, New York falls short.
Then there's healthcare. In the UK, you've got the NHS, right? Here, healthcare can cost an arm and a leg, and that's if you're insured.
And let's not forget about food - eating out in New York can drain your wallet real quick. Sure, there's great food to be had, but you'll have to pay for it.
So yeah, as much as we all love the idea of the Big Apple, living there can be a whole other story.
@@legitpancake4276theres only one that you can get by without a car and thats nyc. The American public transport system is terrible as a whole
A lot of people stereotyping young generations on this comment section, not all os us who want to live in a big city like NY or London want to be influencers, tiktokers or singers. Personally, I see the high cost of living in these big cities as the cost for opportunity and all the fun activities the cities offer (I see it as part of the amenities). I’m sorry, but I rather live in Chicago, NYC, SF or LA, where there’s countless things to do every single day (ofc, most don’t have to money to even do half of these experiences in their lifetime, but the options for everyone are still there) than living in the middle of Arkansas where the fun activities are driving and hanging out at the local Walmart’s parking lot
Ha ha .... not only a lot of truth in that but it's funny .
They are acting like NY and London weren't the most trendy cities when they were younger.
Im older gen z and we just bought a house by the beach but in a small town in the south. I think when you are younger you may want to live in a lively city (and used to live in a big city) but i realized im more of a homebody who goes to the beach every weekend type of gal
I find Washington DC to be a city full of free museum, parks and walkable and normal grocery prices. As a tourist, I can walk to all the major attraction safely because of the police everywhere. Same as Rome, I walked all over Rome at night, all kinds of police in different streets.
@@Qtopian Well you can live in Rockaway Beach
If you live in London you need ti pay 1)Income Tax 2) Council Tax 3) If you have a car you’ll need to pay Road Tax along with Car Insurance, 4) The Monthly Travel Card can cost you up to £300 a month depending on where you live. The further you are from Central London the more it costs. 5) Utility Bills have increased significantly. 6) Most people prefer Private Health care insurance to NHS for peace of mind. You need to earn over £70k annually to live somewhat comfortably in London. Those that earn less usually have to rely on credit cards and loans to backup their income.
Average person got way better purchasing power in NYC but crime, cleanliness, public transport experience way better in London
Crime statistics is actually lower in NYC
Crime is definitely better in London. 1500 stabbing last year alone in the UK , most in London.
@@Your_Wife.s_Boyfriend True, in the US we don't use knives
@@markus8994rubbish. New York is much worse. Definitions are different for violent crime for example. 48 different types in uk compared to 3/4 New York. Also 4 times as many murders. Underground murders are a disgrace in New York. Everyone knows New York is way worse.
I would choose London over NYC every day of the week! I love the free Health Care in the UK, the work to live mindset, and the one month of paid vacation!
Add to that, the city is so clean!! Ofc as every big city, there are homeless, trash and other problems, but it's not as '' in your face'' as it is in NYC! The Tube is not 24/7 but is so clean and the frequency is very good during rush hour and I love the fact that you can go to 4 different airports in London using public transportation!
Finally, I think is so nice that almost every main street have a Costa Cafe, a Pret, a Tesco and a Tube or Bus station! You don't need to go far to visit a market, have a coffee, or take the public transportation! It's almost like everyone in the city gets the '' same'' experience!
NHS is terrible! doctors and nurses are underpaid and overworked
0:49 love the dude carrying his dog
Nobody talking about the dog being carried at :50 😂
Looks like great weather and perfect time of year to go.
Yep lived in east London for 2 years, was blown away by how affordable it was 👍
Was sad to leave.
In my industry (video production), people seem to make far less in London. It seems like it’s half or less in many cases. Also, NYC has rent-stabilization in over 40% apartments, so it isn’t really a fair comparison to compare newly-listed market-rate rents between the two cities. If you know what you’re doing and have been in NYC long enough, you can defintely find way cheaper apartments.
The UK (specifically England) is overpopulated and doesn't have enough industry to bring in money into the country. The result being is that every facet of life in England faces a price squeeze of sorts. The Video production industry is one of the few areas in the UK that is actually seeing growth while bringing wealth into the country.
@@Superbustr As far as larger productions, some of what may be drawing them into England may be that they can get labor much cheaper than in the US.
People get paid less in Europe overall, but also work less (US now works longer average hrs than even the Japanese) and get more bang for their buck, like lower prices, free healthcare, public transport, cheaper education and lower costs (both social and monetary) in dealing with the fallout in crime, safety, inequality, homelessness, mental health etc. In short although you'll be taking a substantial paycut, and likely have a smaller apartment, your lifestyle will be better and you'll feel safer, freer and more involved with your fellows, societally. A months paid, mandatory holiday for starters (which equates to 6 weeks off), with cheap flights on your doorstep and a ton of history everywhere. The work-play balance is far better here -but be prepared for less choice in terms of buying things, less living space and less privacy. In northern Europe weather will be dire, in southern Europe amazing.
@@zupermaus9276 London isn’t cheap, and you definitely don’t get more “bang for your buck.” What you’re saying may be true about some other places in Europe, but this video is specifically about London vs. NYC.
You're not understanding that GBP is undervalued since Brexit. Before the financial crisis it was over $2 to 1 GBP. Today it's $1.22. But for people in the UK that difference only matters when travelling. It's possible that GBP hasn't even bottomed yet and could go to parity. It's farcical, but it's all to do with trading patterns. If it did bottom and this is a wave 2 correction, then it will go much higher in the years ahead. This video deliberately doesn't even mention currency fluctuations and how USD is strong and GBP is like a basket case currency. A well made video with genuine intentions would mention such an important factor.
I think housing quality is different in the UK and worse - plus "one bed' normally means one bedroom in a house shared with others. It would be interesting to see how currency conversion works into this.
I thought "one bed" meant, a 1 bedroom apartment (with a living room, bathroom and kitchen).
@@lenaprice6239 It does, this guy is talking rubbish.
@@Lambyyy I think what he means is that it is the norm in London to share with flatmates, and renting one room of a shared space. Whereas in nyc people often more willing to spend more to live alone.
@@lenaprice6239 One bed in the UK = a flat with one bedroom.
saying New York is expensive because it's walkable and good City lol. Cities with the poorest infrastructure often have the highest real estate rates. That's evident in New York. The far out boroughs of New York offer much lower life quality, jobs and require transit to main city. Things which don't apply to London.. Not even talking about the universal healthcare and social security offered in UK
Comparative cost of living is also reliant on exchange rates. The current GBPUSD rate is 1.26, it used to be as high as 2.1 back in 2006/7, so income and expenses in London now look relatively low compared to NY. I do think the tipping culture in the US makes a big difference to costs though, in London tips are maximum 12% in most restaurants, with no tipping required in standard bars and pubs.
London is cheaper on a NYC income. But I’ve seen London salaries. This comparison could have been better had it looked at an actual job in both cities and compared the cost of everything in both cities on the basis of the salaries of the same job in both cities. Just because things cost less, doesn’t mean we should do a comparison under the impression that wages are the same in both cities. This wage difference literally makes all the difference. Hell, the South is expensive as crap on a Southern salary. These comparisons are not very good, unless you can work remotely and take the higher NYC salary to a London or Southern cost of living. Then its a no-brainer, if there isn’t a preference.
Interesting video!
What an amazing educational . Maybe it would be great to say how important it is to change the oil in time as well.
1600$ for a room? Shared with 5 other rooms? Vs 1800 for ur own place? Hows that comparable. I rent an entire 3 bedroom, 1 bath unit in brooklyn benson area for 1800$.....theres cheaper in ny....
Yeah, she lives in "Prospect Heights"? Sounds like one of those made-up designations by real estate agents (Park Slope, maybe). I tell people that if the neighborhood was featured in an HBO show, you probably can't afford to live there 😅
There is an affordability crisis in NYC, but $3800 median rent is not what most people actually experience. That's Midtown/UWS, LIC in Queens, and the posh parts of Brooklyn. Plenty of other, more affordable places that aren't shoeboxes.
I used to rent a 4 bedroom in the edge of central London for just under $3k, with a garden too. She has a bad deal for sure. I could never share with 5 people let alone for $1600 each 😨
more videos like these please :)))
I lived in the UK for 2 years…. One comment: she had a what? A Garden and a GARDENER??? You kidding me mate?
no one in London has a gardener that I know of lol
London right now is expensive especially with high rent and everything. People are moving out of London to cheaper cities in uk and affordability too.
I feel London is way more expensive to live. The rent cost is out of control in London. In NYC, you still can find some one-bedroom apartment around $3500 in Manhattan or $2500-3000 in BK. But in London, if you wanna live in zone 1 which is equivalent to Manhattan, you need to pay like $4000-4500 per month! Also, as mentioned in this video, you make far less money in London.
When New Yorkers began working from home they moved to nicer less expensive areas and drove the prices up pushing away many families. One example is San Diego, in the past three years I’ve seen a lot of gentrification from NY. Many families from. SD moved east to areas like AZ or imperial Co, many even to nearby Tijuana and Rosarito, Mexico.
London's nightlife is absolutely not vibrant, it's dying and continues to get worse, mostly concentrated on Saturday / Sunday with more and more daytime events. New York you can truly go out any night of the week and have a good time.
Silly comment. London’s best and busiest nights are Sun - Thurs. London’s entertainment ranks No. 1 globally. Theatre capacity in London much greater also. The amount of times I go out in New York in the afternoon and everywhere is dead. London is amazing during the day.
London has a good night life
I agree, London has one of the best nightlife scenes in the world. Ridiculous comment John. Think before you comment next time please.
Wonderful! Let's stay in touch.
I´ve lived in both of those cities and have to say, that London is the best city in the world!
New York is definitelly amazing too, but is kinda dirty and not that safe like London at all.
What London are you referring to? London City, London or Greater London.
i mean if cleanliness and safety are your main concerns in a city then sure but for me NYC is 10x better than London. Starting with the weather,culture,career opportunities,much friendlier ppl...
@@azrrrrrrrr I’m from London, and I agree.
@KV45355 but let it be known London is still awesome and one of the best cities to live in. Just pales in comparison to something like NYC
@@azrrrrrrrr London being the nexus of the country has, aside from defence, all industry sectors present: medical, movies/TV, law, IT, politicos & thinktanks, finance, oil&gas, music, museums, etc. In the US, different cities specialise, so if you are in oil & gas, you don't work in NYC, you move to Texas or Alaska. In the UK, it's still London (or maybe Aberdeen). If you want to work for a think tank, London again for the UK, but DC primarily in the states.
The UK doesnt have one tax system. Scotland has different rates
It’s hilarious how insignificant Scotland is in every respect
@@jimbojimbo6873 Not unless you brings the sheep into the mix.
Thank you guys, when I see your videos, I say to myself !!!
Angers France is the best place to live in the World, we have everything, Vallée de la Loire, culture, weather, food, wine, sports, nature, sea coast not far... Definitely the best place to live !!!!
Unfortunately this comment didn't age well past June 2023.
@@ElGrandoCaymano
I have a dream, one day people will understand that the most important to get happiness is not money or where you live !
It is having the time to do what you want to do, when you want to do without running after money.
This is typical in Atlanta 😢
You forgot to mention national insurance tax for the UK. So for a typical london salary of £42k/yr (805/wk), 22.4% of it would go to taxes/national insurance. For a typical mid-high salary of £75k, 30% would go towards the various taxes. Since NI is supposed to be for healthcare/welfare stuff, you'd probably have to compare it with US health insurance though.
There is also council (local authority) tax which varies depending on your living situation since it's charged per household, not per person, and varies on location. So for a 1 bed flat you'd be paying about £120/week, but for a bedroom in a shared house of 4-6 people the cost would be negligible and most likely included in the rent. On top of that, there's a big shortage of 1 bed/studio flats in london which pushes up the prices even more. A flat with an extra bedroom will probably only cost about 25% more, and have bigger kitchen/living room. You'll save waaaay more money by buddying up with a friend. I have no idea if/what the new york alternative is to council tax.
Jesus, I thought we got taxed to death in the US. It's nothing compared to UK taxation.
"can save on trasportation cost" well sure if you're planning on buying ultra luxury car than maybe. In London to get a unlimited travel pass you'll spend around $500 a month. Not to mention that it took me hour and a half to travel 10miles.
That’s really expensive. Sometimes I watch documentaries and see that the place is so small.
honestly my two fave places in the world... when i started my company a few yrs ago i deliberately split the headquarters between manhattan (corporate) and london (creative) so i’d have a legit excuse to live in both lol
Sure you did.
I Pay 500 dlls in Mexico, Garage, 3 bedrooms, 3 parking spots, Next to the beach, . I Am a US citizen, its crazy paying that amount of money for that cheap way of living.
rent prices in London differ a lot depending where abouts. So hard to generalise london rent prices
Our taxes in the UK also include healthcare! Americans have to pay loads more in insurance for the same cover.
We lived in New York City for 24 years and one of my favorite places of this city are: in Manhattan-Gramercy Park area, Upper and East of Manhattan, Greenwich Village, in Brooklyn- Greenpoint, Brooklyn Heights are and other, and after all this city always will be part of our, my life, the same native, with its pros and cons, BUT at the same time, there are various social and other problems in New York, and this city is so expensive for live for the most ordinary people, New Yorkers, with very expensive apartments, due to high rental prices small, medium businesses are closing, family businesses, well-known businesses for decades are closing and so on., and thus New York loses all the specifics that it had during its existence, and thus New York has become a city that is good, great for living only for the rich, the very rich people, becomes the city of only a mega corporations, the corrupt financial elites.
Living in NYC is a part of lifestyle. Its one of the most happening cities in the world. I know the prices are high and apartment struggles, but its NY. Also, the money is more and business is switft in NY. A software developer makes 150-200k in NY, it's 50-60k in London.
Can't believe they didn't mention jobs as the #1 reason people live in either city.
It’s true. My ex was a data scientist and they couldn’t believe the salary they could get in the USA! It was nearly three times as much.
@@selfridgesforever4399 UK/CAN/AUS/EUR seriously underpay their tech people. I mean obvs it's worse in like India, but still, it's not great.
@@mandisaw it’s why so many work for USA companies but work remote. Luckily technology has advanced enough to do this!
@@mandisaw are they underpaid or appropriately paid? There are so many people now graduating with CS and related degrees that its hardly the high wage sector it was in teh past. Seeing as US firms are now issuing mass layoffs maybe they seriously overvalued what is now clearly abundant "talent"
the title is so interesting that it makes me to come here
I left NYC for Paris and Paris is way more affordable than NYC.
no hate but paris is trash city compared to nyc
You're lost without French and you'll have to deal with Gallic indifference.
I am surprised the video din take into account health/utilities etc
Let's make an episode for costs between hk and Singapore 😊
Why? This is an American show, we don't care about the cost of living in those places.
Riding the subway in NYC is dangerous. Having lived all over the US and EU the best cities are: Munich and Prague.
London is by faaar more civilised and cleaner than New York City
Facts!
No rats on the London Underground?! girl must have never been to Leicester Square station 😂 and no it's not a new thing, those platforms have had mice for as long as I can remember.
About these datas. I can say, are cities where yes, they are expensive but you can also find a very cheap places and others, not. Singapore for example, I found a place in the Indian zone in the center where I could eat a meal with 2 euros and a beer was 5-6 euros. But in London, never and I lived there for a year.
I think the other major thing here is, what are the equivalent lifestyles? Because in order to live 'the' lifestyle in nyc as opposed to 'the' lifestyle in London, I think the difference is much much more.
This only takes into account the price of things, it doesn't take into account what you do every week in this city. I think with that in mind you could easily say it's double the cost to live in NYC vs London
London is cheaper for rent, food and drink, groceries, gyms, etc; but wages are definitely lower, even in 'in demand' graduate professions. There's been a major spike in inflation, especially for food, and the private rental market is dysfunctional.
London does have some high-rise districts such as Canary Wharf, but across the city as a whole, half of households live in houses as opposed to apartments (or flats as we call them) although most of these houses are terraced or semi-detached. Larger houses converted into flats are also very common in most of London, especially in places with few purpose built flats.
So London is quite spread out, but without being sprawling in the way that most other north American cities are. The outer boroughs of London would seemingly have more in common with Staten Island than Manhattan!
That said, our public transport, whilst having its flaws, is probably safer and more reliable than in New York.
I am from Honolulu so these prices are actually kind of close to what we pay but we don’t earn as much as New Yorkers. I am a Star Wars fan and New York City is definitely like Coruscant while London is like another Core World.
I have no idea what those words mean, but they sound pretty cool and spot-on for the respective cities.
Did they factor in health care costs?
🪄✨ Made with SummarizeYT
0:15 - New York City is more expensive than London; it would cost approximately $9,500 USD A month to maintain the same lifestyle as about $7,200 would get you in London.
2:07 - Rent prices in New York City are about 47% higher than in London.
3:18 - Grocery prices are 70% higher in New York than in London.
3:47 - New York is also more expensive when it comes to having fun and going out.
5:04 - Local purchasing power in New York is about 19% higher than it is in London due to the average New Yorker earning a little less than $1,400 per week, whereas London's average is a little less than $1000 or £805.
6:55 - The value-added tax in London is set at 20% for most goods and services.
legend
How about Melbourne, Australia? housing is ridiculously expensive? And wages stagnant
Sales tax and VAT are not"called" differently in the US and UK, they ARE different. It says so in their names. VAT is a tax on the value added in the "last" step of manufacturem, sales tax is a tax on the total sale (the whole value, not added value) of an item. CNBC, I expected a bit more from you
If you turn $1 into $2, it doesn't matter if the VAT is 20% on the $1 increase, or 10% on the $2 sales price, the tax collected by the state is the same, the price paid by the consumer is the same, and the profit to the seller is the same. VAT and sales tax are the exact same from an accounting perspective, they're just called different things for historical political reasons.
0:49 I'm sorry, I've lost all focus with that cute dog being carried in the back 🤗
Yikes! That apartment was tragic. Yikes! I went to London a few months back and I was shocked at how clean and nice and inexpensive it was. I currently pay like $2800 for my studio apt. in Harlem.
All I know is tech salaries in New York is much more than London.
if you still have a job, considering mass layoffs in the US tech sector that was overly ambitious in the last decade
True. I'm planning to work as a remote contractor for US companies while living in London in 2-3 years.
New York means Manhattan, an island. This makes a lot of things more expensive, especially bringing in goods and workers. Notice that Singapore, another island, is even more expensive.
3:43 is my local tesco LOL.
Lived in NYC for 1 year and London like 10. They have a lot in common.
I think what NYC does better is (1) Salaries (2) Ratio favors men, with a discernible amount of more women (this obviously only benefits straight men).
What London does better (1) Cleanliness (relatively) (2) Sub cultures (3) People mix way more/just less clique-y (4) Safer (5) Public Transport is much much better (6) Less concrete Jungle (this more a taste thing) (7) Some stunning neighborhoods (sorry but there just isnt any area in NY that can put a hand on Sloan/Kensington/Chelsea/Angel etc. etc.)
That being said, salary is such a major thing, it levels the playing field and maybe even skews in NYs favor and along with the fact that it feels like there are 2 women to every guy (its not the case, just feels that way).
If London salaries were on par with NY, and you dont favor one group over the other (i.e. Brits v Americans), London wins hands down, absolutely no contest. Dems have driven NY into the ground. Sorry but its true, we all see it, we all know it, we just dont say it.
I find it odd that people are suggesting alternative cities in the U.S. to be better options where there are WAY BETTER cities than all the cities in the U.S. or the U.K.. Vienna in Austria for example is a lot more liveable...... it's cheaper, safer, and cleaner too. My point is if you are looking for a better quality of life, don't limit your options to just two countries.
Everyone’s nightmare in London - having to move to Geneva, Zurich or Vienna. Nice for a weekend but unbelievably dull to live in
NY Subway is discussing, while London Tube is quite clean!!
If your going to pay that much live in San Diego better expensive but one of the best weather
London’s pay is different. My salary is 86K here but it was 32K£(40K USD) there when I got my offer letter for the same job. But living in London doesn’t cost half as much- more like 75% as much
Man I cant imagine to live in either, ill stick to chicago where rent is affordable, food is cheap, and free fun is plenty.
I miss my Chicago. City felt so much like home.
Chicago is my fav big U.S. city !
I live in Chicago now and have grown up here and in London. Overall, Chicago doesn't compare to London- especially if you can afford it.
Chicago is a horrible city. It’s not cosmopolitan at all. It is no longer world class status more like a good American city that is it There also visible racial inequality present in the city the white in the north make more and live longer than those ethnicities in west and south. I walked in the loop and all I could see was white peoples. No diversity. You go to any public space or private establishment and you see all the servers or personnel working are black and all those enjoying the amenities are white. It is like modern day Jim Crow it is so pervasive there.
Boring arts. Only one good museum. It is why it is not even in the top ten places ppl want to move too. Stagnant population. Horrible transit compared to London and nyc. Ugly mid rise architecture. Crime ridden. Racist population. There is a reason why it is “cheap”
@@BabsWWhich, in your experience, is a better city to live in?
As a Londoner, I'm shocked to hear we're cheaper and less gross than NYC! lol I can't imagine how bad their subway is, the tube is filthy.
to most europeans, london is already ridiculously expensive. NYC just sounds outrageous to me.
1:30 Girl, nobody are "willingly" paying taxes. It is enforced on every citizen.
My vote is for the city that never sleeps New york > london
Those cost of living figures are a joke. I'm a senior manager and earn nowhere near that amount. You can live comfortably on £3,000 a month and that includes a mortgage.
There's also borough taxes in NYC. Like, the county takes its own tax, NYC gets a tax, and the state and federal tax.
Hogwash. There is no borough tax . It's city, state and federal tax. Outside of NYC counties may collect a few cents of sales tax .That vax tax equivalent is half what they pay in Europe /UK and in NYC the first hundred on clothing is untaxed.
@@3markaw ok, I didn't see what's coming out of my checks. Yup.