A History of Housing in New York City, Essay Example

An estimated monthly expense for a family consisting of a mother and a child may require a better plan for low-income earners. The plan for moving to Syracuse, New York Area made it possible for budget estimation to be given the priority considering the salary of the family (Tan et al., 2018). The budget is limited due to the low salary that the family gets and also the need to fit and go in line with the cost of living in Syracuse. Below is a chart that describes a safer budget that describes every expense the family may undergo during their stay in Syracuse, NY. Thus, the figures provided in dollars may not be the actual amounts, but they are estimated to be close to the actual amounts spent on various expenditures.

As compared to other cities, Syracuse cost of living is rather. The prices of all the items listed are a bit affordable when estimated on a monthly basis. For this case, a family which consists of only a mother and a child are found to spend less on their expenses as compared to other families with more than four family members. However, the minimum cost of living in Syracuse is estimated to be $3000, and since the family has few members, it is estimated to be a bit lower (Tan et al., 2018) And this goes up to a total of $ 2635.25 inclusive of monthly rent. This means Syracuse has a lower cost of living index of 72.48 out of 100.

In this scenario, a small family of two, a mother with a young child should live in a rented one-bedroom apartment other than living in a bigger house to cut on cost (Plunz, 2016). An average one-bedroom apartment outside the city center of Syracuse area may cost the mother a monthly expenditure of $686.22 which is considered to be much lower depending on the available salary. However, since food is a basic need for the family, under a minimum wage, a family can still be able to estimate a monthly cost of $960.20. According to the consumer prices from different groceries in Syracuse, the food items bought from every store are at a lower price. Of which it would lead to understandable budget as per the salary of the mother.

In this apartment, there are costs of utilities including electricity, internet, water, mobile bills, and garbage. All these expenses are added up leading to an estimated cost of $189.30 which is much fair as compared to all other apartments within. On the other hand, transportation is also considered important for flexibility of the family to different errands. The family should move around at their convenience by using the monthly pass at a regular monthly price of $91.45. Since the mother will be working even during the odd hours, a daycare institution for the child is necessary. Little Lukes Day Care is affordable for the parents under minimum wage living in Syracuse Area. The institution is estimated to be charging an amount of $475 per child monthly.

Moreover, this applies to a child who is under a full daycare. They have the best curriculum for ensuring the development of a child brain wise and even offering them with proper emotional interaction. Therefore, it is considered one of the best preschool institutions around. Then lastly, monthly miscellaneous costs for the family is estimated to be around $232.49. The amount is inclusive of clothing, savings, medical costs, investments, and donations. Thus, the data in this article shows an affordable cost of living in Syracuse New, York making the family live more cost-effectively.

References

Plunz, R. (2016). A history of housing in New York City. Columbia University Press.

Tan, K. G., Nguyen, T. D. L., Divya, C., & Tan, K. Y. (2018). Methodology on Cost of Living for Expatriates (pp. 21-39). World Scientific Publishing Co. Pte. Ltd.

https://www.newhomesource.com/communityresults/new-york/syracuse-area/syracuse?inventory=true

https://www.numbeo.com/cost-of-living/in/Syracuse

http://www.littlelukes.com/ccpreschool.html?gclid=Cj0KCQiA4bzSBRDOARIsAHJ1UO7t1nA744aLrqvKEqrev10v_nWcIKCiSmjvfr3DWmhtH52Qa8rIU_YaAr13EALw_wcB