cost of living in Manhattan almost 70% higher than the national average the cost of living is high highest it's been in years cost of living expenses highest income tax rates 39 percent cheap city Manhattan cost of living consider the cost of living 30% to 40% the cost of living is high reports this Smart Asset article a full breakdown of the cost of living in NYC according to SmartAsset overall cost of living in NYC this Smart Asset article 39 percent the cost of living is high cost of living in Manhattan cost of living cost average two bedroom apartment in Manhattan 68% higher estimated New York City most expensive cities in the world double the national average