Compare how 12 NYC neighborhoods budgeted their money in 2013
Data from New Yorkers using budgeting app Mint confirms a lot of what we suspected about neighborhood identities
Tue Feb 25 2014
Thinking back on 2013, how did you spend your money? New data from personal-finance app Mint reveals that it could probably be predicted by what neighborhood you live in. Indeed, the study's unsurprising findings confirm every suspicion you might have about how residents of areas from the Upper West Side to Park Slope spend their hard-earned cash.
Speaking of the just-mentioned 'hoods, UWS dwellers shelled out $137.80 on average per month for taxis and rental cars, whereas subway-prone Park Slopers spent only $79.41, or 42 percent less. When it comes to the always-incendiary subject of real estate, Wall Street residents spend the most on rent and mortgage ($3,119.78 per month), while people living in Astoria allocate less than half that amount, $1,222.31.
As for clothing, stylish West Villagers are the spendiest with a $407.18 monthly budget on clothes. Denizens of the ritzy 'hood also blew the most monthly cash on bars and alcohol ($190.67) and eating out ($507.70). In comparison, Astorians—again standing out for their thriftiness—budgeted $207.49 for restaurants, a whopping difference of 244 percent.
One caveat: This data was sourced from active Mint users, of which there are only 2 million nationwide, so the numbers reflect people who use the app in NYC, not the city's overall population. The categories were tallied in 12 neighborhoods by zip code: West Village, East Village, Greenwich Village/Soho, Wall Street, Murray Hill, Upper East Side, Upper West Side, Downtown Brooklyn, Park Slope, Astoria, East Harlem and East New York.
For your reference, here are the average monthly paychecks of users surveyed in each 'hood:
- Wall Street: $9,141.65
- Upper West Side: $8,544.34
- West Village: $8,354.07
- Upper East Side: $7,553.18
- Greenwich Village/Soho: $7,482.32
- East Village: $7,329.60
- Downtown Brooklyn: $7,286.31
- Murray Hill: $6,451.45
- Park Slope: $5,687.98
- East Harlem: $4,456.12
- Astoria: $3,850.23
- East New York: $2,431.34
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Editor: Marley Lynch (@marleyasinbob)