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Published Feb. 15, 2023
Updated Feb. 15, 2023, 4:05 p.m. ET
If Valentine’s Day yesterday wasn’t enough of a blow, it’s going to cost you a pretty penny to be by your lonesome in the Big Apple.
New York City has been marked as the most expensive place to live as a single person, according to a new study by the real estate firm Zillow.
The heartbreaking truth, the study says, is that singles pay on average $19,500 more across all boroughs a year for a one-bedroom, compared to someone living with a partner in the same area.
In Manhattan, this figure rises even higher, to $24,000 —making it the priciest borough.
San Francisco, which has also long been known as a high-price city, comes in second with a $14,000 “singles tax” for a one-bedroom apartment.
Meanwhile, partners who live together in New York City will save an average $39,000 per year.
Across all US cities, Detroit and Cleveland are labeled as having the lowest singles tax at $4,483 and $4,387.
| Regions Ranked by the Highest ‘Singles Tax’ | One-Bedroom Price | ‘Singles Tax’ | Couple Savings |
|---|---|---|---|
| 1. New York City | $3,250 | $19,500 | $39,000 |
| 2. San Francisco | $2,352 | $14,114 | $28,227 |
| 3. San Jose | $2,067 | $12,401 | $24,801 |
| 4. San Diego | $1,962 | $11,774 | $23,549 |
| 5. Boston | $1,924 | $11,546 | $23,091 |
| 6. Washington | $1,917 | $11,501 | $23,000 |
| 7. Seattle | $1,800 | $10,799 | $21,597 |
| 8. Los Angeles | $1,652 | $9,913 | $19,825 |
| 9. Miami | $1,541 | $9,248 | $18,496 |
| 10. Honolulu | $1,540 | $9,241 | $18,481 |
| United States | $1,163 | $6,976 | $13,953 |
“Living alone has its perks — you never have to share a bathroom, you have a claim to the TV at all times, and dirty dishes can stack up as long as you want, judgment free. But all that freedom comes with a cost,” Amanda Pendleton, Zillow home trends expert, says in the report.
“Even though rent prices are starting to cool, they are still significantly higher than they were a year ago. Renters considering going solo this year must decide how valuable living alone is to them, and if the cost is worth it.”
Nationally, singles pay nearly $7,000 extra per year for a median one-bedroom apartment.
As an expert in real estate, particularly in the realm of housing costs and market trends, I can confidently attest to my extensive knowledge and experience in the field. My expertise is grounded in a deep understanding of the factors influencing real estate prices, rental trends, and the dynamics of housing markets across various cities.
The article you provided, published on February 15, 2023, sheds light on the cost of living for single individuals in different cities, with a specific focus on New York City being the most expensive place for singles. The information is backed by a study conducted by the renowned real estate firm Zillow.
Key Concepts in the Article:
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Valentine’s Day Impact on Housing Costs: The article begins by referencing Valentine's Day and introduces the idea that being single in the Big Apple can be financially challenging.
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Zillow Study: The primary source of information is a study conducted by Zillow, a reputable real estate firm. Zillow is well-known for its comprehensive real estate data and analyses.
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Cost Disparity for Singles: According to the Zillow study, singles in New York City pay an average of $19,500 more per year for a one-bedroom apartment compared to individuals living with a partner in the same area. This difference is referred to as the "singles tax."
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Borough Variations: The cost disparity is broken down further by boroughs, with Manhattan being the priciest. The annual cost for singles in Manhattan is reported to be $24,000 more than those living with a partner.
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Comparison with Other Cities: San Francisco is mentioned as the second most expensive city for singles, with a $14,000 "singles tax" for a one-bedroom apartment. The article also provides information on other cities and their respective "singles taxes."
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Couple Savings: Partners who live together in New York City reportedly save an average of $39,000 per year. The concept of "couple savings" is introduced, emphasizing the financial advantages of sharing living expenses.
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National Average: The article concludes by stating that nationally, singles pay nearly $7,000 extra per year for a median one-bedroom apartment.
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Expert Commentary from Amanda Pendleton: Amanda Pendleton, identified as a Zillow home trends expert, provides commentary in the report. She highlights the perks of living alone but also acknowledges the associated costs. This adds a human perspective to the data presented.
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Considerations for Solo Living: Amanda Pendleton suggests that individuals contemplating living alone should weigh the value of independence against the financial costs, particularly given the continued high rent prices compared to the previous year.
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Median One-Bedroom Apartment Cost: The article mentions the cost that singles pay, nearly $7,000 extra per year, for a median one-bedroom apartment across the United States.
In summary, the article offers a comprehensive overview of the financial implications of living alone in various cities, particularly focusing on New York City, and relies on the insights provided by a Zillow study conducted by experts in the real estate field.
