Singapore vs New York: How Do They Compare?
For this post, we’re going to be comparing Singapore and New York. And before you think how strange that is, keep in mind how small Singapore is.
The entire state of New York covers 54,556 square miles. Singapore only has a total land area of 724.2 square kilometres!
But the comparison in today’s article will go beyond size and well into the cost of living and quality of life factors.
Is Singapore cheaper than New York?
It’s nearly 12% more expensive to live in New York than in Singapore. Getting a burger meal in New York can already cost you around $9.10, while the same can be had for just $5.76 in Singapore.
In fact, any basic meal at a relatively inexpensive eatery, whether it’s for dining in or via food delivery services, costs more in New York.
With a drink, you can expect something simple from a cheap restaurant for $17.56 in New York and just around $10.81 for the same meal in Singapore.
As for supermarket items, a kilogramme of boneless chicken breast in New York can have a price tag of $10.44. In Singapore (even with nearly 90% of food ingredients imported from elsewhere), it would only cost $7.26.
Singapore has a lower unemployment rate
It may be hard to imagine living in Singapore without a job, but it’s doable for at least a couple of months. There are resources and Singaporean organisations to help the unemployed get back on their feet.
And when compared to New York, Singapore has a significantly lower unemployment rate. There are around 1.9% of people without full or part-time jobs in Singapore compared to 4.5% of unemployed New Yorkers.
That’s a 2.4% discrepancy between Singaporeans and New Yorkers who are jobless.
Thankfully, there are many opportunities to become a freelancer in this day and age. With various skills, you can find an income that closely matches your experience and expertise.
New Yorkers have a higher average salary
With over half the population in Singapore having enough savings to last them for at least six months, you can say that most Singaporeans have a high standard of living that includes a good salary.
However, New Yorkers enjoy a nearly $1,930.80 higher salary than Singaporeans. The average salary in Singapore is $4,127.52, while in New York, it’s around $6,58.32.
But with the cost of living being higher in New York, the salary discrepancy might not mean much in terms of quality of life.
Also, Singaporeans might be able to afford to buy a property and other investments owing to the compulsory funds they’re required to make for their future.
Singapore has slightly more affordable housing compared to New York
Singapore’s HDB housing system makes up 90% of Singapore’s residential properties and aims to provide affordable shelter for Singaporeans.
Yet overall, Singapore is known to have some of the most expensive housing in the world. This is due to the country’s small total land area and its sizable population of nearly 5.7 million.
But when compared to how much apartments cost in New York, it’s almost $1,171.74 cheaper to rent a one-bedroom unit in Singapore!
A New York studio apartment or studio costs as much as $3,279.87 compared to around $2,108.13 in a Singaporean setting.