NYC Households Spent Way, Way More Than U.S. Pandemic Average: Study

NEW YORK CITY — Surprise, surprise: New York City household spending is ridiculously higher than elsewhere in the nation, new consumer spending data shows.

Households in the New York City area spent an average of $77,204 per year during 2020 and 2021, according to Bureau of Labor Statistics data released Thursday.

“This figure was significantly higher than the $64,187 average expenditure level for households in the United States,” the BLS study states.

New Yorkers likely won’t be shocked they spent $13,000 more than other American households on average in the pandemic’s first two years.

But the data breaks down exactly how different living in and around New York City is than elsewhere.

Perhaps unsurprisingly for the most expensive rental market in the nation, the average $30,560 a year that New York City households spent on housing itself was not only their biggest expenditure, but also much higher than average, the data shows.

“Housing accounted for 39.6 percent of the area’s household budget, significantly higher than the 34.3-percent U.S. average,” the study states.

“Among the 22 metropolitan areas nationwide for which data were available, New York was 1 of 10 areas to have a housing expenditure share that was significantly higher than the national average.”

The data did have some silver linings for New Yorkers.

Transportation costs simply weren’t as high in the New York-area as elsewhere, the data shows.

“New York-area households spent 11.7 percent of their budget on transportation, significantly lower than the national average of 16.2 percent,” the study states.

Read the full study and see all the data here.