Long Island City (LIC), situated in the westernmost part of Queens, has transformed into one of New York City's most sought-after neighborhoods. Its proximity to Manhattan, stunning waterfront views, modern residential developments, and vibrant cultural scene have drawn professionals, artists, and families alike. But what does it really cost to live in Long Island City? Understanding the full picture is crucial whether you’re renting, buying, or simply curious about the daily expenses.
In this post, we’ll break down the real cost of living in Long Island City to give you a clear sense of what to expect. If you're considering moving to this dynamic neighborhood, The Christina DeCurtis Team, experts in NYC real estate, are here to guide you through every step.
Housing Costs
Housing is one of the largest factors influencing the cost of living in Long Island City. Over the past decade, LIC has seen a rapid increase in residential development, leading to high demand and elevated property values. Whether you’re looking to rent or buy, you’ll need to factor in these elevated costs.
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Renting: Rental prices in LIC can vary greatly depending on the type of building and proximity to the waterfront. Modern luxury buildings with amenities such as doormen, fitness centers, and rooftop decks can range anywhere from $3,500 to $5,500 per month for a one-bedroom apartment. Older buildings and those located further inland offer more affordable rents, often starting at $2,500 for a one-bedroom.
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Buying: If you’re looking to buy, LIC’s housing market offers a mix of modern condos and luxury high-rise apartments. The average price per square foot in LIC can range from $1,200 to $1,500, depending on location and building amenities. For a two-bedroom condo, buyers can expect prices starting at $1.2 million and going up to $2 million or more for prime waterfront units.
While these prices may seem steep, many residents feel the proximity to Manhattan and LIC's lifestyle are worth the investment. If you’re looking for expert advice on navigating the LIC housing market, partnering with The Christina DeCurtis Team will provide valuable insights and access to the best properties.
Transportation Costs
One of the biggest advantages of living in Long Island City is its excellent transportation options, making commuting into Manhattan a breeze. However, you’ll still need to account for the costs of getting around.
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Subway and Buses: LIC is served by several subway lines, including the 7, E, M, and G trains, which provide quick access to Manhattan. A monthly unlimited MetroCard costs $132 and offers unlimited rides on subways and buses. Most LIC residents find this the most cost-effective option for commuting.
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Taxis and Ride-sharing: LIC’s proximity to Manhattan means a taxi or ride-share service can often be a quick, albeit pricier, option for getting around. Expect a ride into Midtown to cost around $25 to $40, depending on traffic. Frequent use of ride-share apps like Uber or Lyft can quickly add up, so budget accordingly if you plan to rely on these services.
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Biking and Ferries: Many LIC residents take the NYC Ferry, which offers scenic routes along the East River. The NYC Ferry costs $4 per ride or $121 for a monthly pass, making it a viable alternative to the subway for commuting or leisure trips.
Utilities and Other Monthly Bills
Utilities and other monthly expenses in LIC are comparable to the rest of New York City, though your costs will depend largely on the size of your home and lifestyle choices.
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Electricity and Gas: The average monthly utility bill for electricity, heating, cooling, and water in a 900-square-foot apartment in LIC runs between $150 and $250. Larger apartments or homes with additional appliances, such as washers and dryers, may see slightly higher costs, particularly in the winter months.
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Internet and Cable: High-speed internet and cable packages typically range from $60 to $150 per month, depending on your provider and package. Many modern apartment buildings offer bundled deals for these services, which can sometimes reduce costs.
Groceries and Dining Out
Long Island City offers a wide variety of grocery stores, specialty markets, and dining options. However, like much of New York City, the cost of food can be high, depending on your preferences.
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Groceries: The cost of groceries in LIC is on par with other parts of the city. A typical grocery bill for a couple or small family will run about $400 to $600 per month. Specialty or organic markets such as Foodcellar & Co. Market tend to have higher prices, while chains like Trader Joe’s or Key Food can offer more affordable options.
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Dining Out: LIC has an exciting dining scene, with options ranging from casual cafes to upscale restaurants. Eating out, however, can add up quickly. A casual meal at a local diner or pizzeria can cost between $10 and $20 per person, while dining at mid-range or fine-dining establishments such as Casa Enrique or M. Wells Steakhouse, can easily run $60 to $100 per person, especially if you include drinks and gratuity.
If you enjoy eating out frequently, include a dining budget in your monthly expenses. It’s easy to get tempted by the delicious food on every corner!
Entertainment and Leisure
LIC is rich with cultural activities and recreational options, but entertainment can also be a significant part of your living expenses.
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Fitness and Gyms: Gym memberships in LIC range from $50 to $150 per month, depending on the gym’s amenities. Luxury fitness centers such as Club Pilates or Pure Barre offer specialty classes but can come with higher price tags.
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Art and Culture: LIC boasts several art galleries, cultural spaces, and events that often have free or low-cost entry fees. However, frequent trips to theaters, concerts, or museums in the city could increase your entertainment budget. Many LIC residents also enjoy visiting Manhattan for Broadway shows, which can cost upwards of $100 per ticket.
Taxes and Other Fees
Property taxes in New York City are relatively low compared to other parts of the country, but they are an important consideration when buying a home in LIC. While tax rates depend on the type and location of your property, expect to pay around 0.88% of your home’s assessed value each year.
Additionally, if you’re moving into a condo or co-op building, you may need to factor in maintenance fees or homeowner association (HOA) dues. These fees typically cover amenities like building maintenance, security, and shared spaces and can range from $500 to $1,500 per month, depending on the building.
Is Long Island City Worth the Cost?
While the cost of living in Long Island City is undoubtedly high, many residents feel the vibrant community, convenient transportation, modern housing, and waterfront views make it worth every penny. Whether renting a chic apartment or purchasing a luxury condo, LIC offers a unique blend of urban living and residential comfort that is hard to find elsewhere in New York City.
If you’re considering a move to LIC, partnering with The Christina DeCurtis Team can help you navigate the complex housing market and find the perfect home. With their extensive knowledge of the neighborhood and commitment to personalized service, they’ll ensure your transition to Long Island City is seamless and stress-free.
