What to Know
- New York City residents have an average holiday budget of $704, according to a new WalletHub ranking
- That figure landed the city in 241st place on WalletHub’s ranking of 570 cities across the country
- The study found that the average NYC consumer is 36.6 years old, has a monthly income of $5,073 and shells out $4,234 for monthly expenses
New York is hardly a cheap place to live — and the holiday spending habits of its residents reflect that.
New York City residents have an average holiday budget of $704, according to a new WalletHub ranking.
That figure landed the city in 241st place on WalletHub’s ranking of average holiday budgets in 570 cities across the country, with cities including Austin, Texas, Seattle, Washington and San Francisco, California ranking higher on the list.
The study found that the average New York City consumer is 36.6 years old, has a monthly income of $5,073 and shells out $4,234 for monthly expenses.
To determine its rankings and “help consumers avoid post-holiday regret,” WalletHub looked at statistics including income, age and “savings-to-monthly expenses ratio” in the 570 cities.
Flower Mound, Texas, Sunnyvale, California and Naperville, Illinois took the top spots, with average holiday budgets of $2,761, $2,575 and $2,528, respectively.
Local
New Haven, Connecticut, Miami, Florida and Cleveland, Ohio landed at the very bottom of the list, with average holiday budgets of $115, $81 and $64, respectively.
“Although a few extra bucks might seem negligible, it’s important to put it in the context of American spending, and credit card debt, as a whole,” WalletHub said, noting that the average household credit card debt is $8,332 in 2018.
