New York Is Now Most Expensive City In US To Live

The Statue of Liberty is seen early on October 28, 2011 during ceremonies marking the 125th anniversary of the Statue at Liberty Island in New York. — Saving New York City and other coastal areas from sea level rise could involve enormous redisposition of water masses. The idea is to generate trillions of tons of additional snowfall by pumping ocean water onto glaciers and distributing it using snow canon. REUTERS

KEY POINTS

A one-bedroom apartment in New York costs $3,448
The average monthly gym membership in the city costs $104.82
The second-most expensive city on the list is Mississauga

New York is the most expensive city in the United States to live in today, according to a new study by a Toronto-based life insurance provider highlighting the living costs in the 20 largest cities in the U.S. and Canada.

The study, conducted by PolicyAdvisor, analyzed the biggest cities by population based on the average cost of eight items: a movie ticket, a meal out, a bottle of water, a cup of cappuccino, one month of a gym membership, a one-way ticket and the monthly ticket on public transport and monthly rent.

Based on collected data, New Yorkers pay the highest average prices for rent, gym memberships, monthly public transit passes and meals out.

A one-bedroom apartment in the city reportedly costs $3,448, while a 3-bedroom apartment costs $6,903, according to the latest data provided by Numbeo – a user-generated global cost-of-living database aggregated by hundreds of thousands of contributors around the world.

Monthly gym membership costs $104.82, while a public transportation pass costs $129.

A meal at an inexpensive restaurant costs $25, while a three-course meal for two people at a mid-range restaurant costs $100.

New York City topped the list "despite being the city with the second-highest average monthly salary after San Jose," the report noted. "For people living in New York City, the combined cost of the eight items amounted to 57% of the average salary – the highest proportion of the 20 cities studied."

The second most expensive city on the list is Mississauga, a Toronto suburb where a monthly public transportation pass costs $144. Rent for a one-bedroom apartment in the city costs $2,092.

Three Canadian cities, namely: Vancouver, Hamilton, and Toronto, followed New York and Mississauga on the list.

Los Angeles, California’s largest city, also made it to the list at No. 6.