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ShutterstockBusy street in New York City


NYC IS ONE OF THE MOST EXPENSIVE CITIES TO BE HAPPY IN THE U.S.

Can we get a “duh?”

Written by Christina IzzoThursday September 7 2023
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Those who say “money can’t buy happiness” has clearly never lived in a
rent-controlled apartment with a clear view of the park. (After all, that
recently approved 6% increase for rent-stabilized apartments isn't making
anybody happy.) We already know well and good that New York City is a pricey
city to live in—Manhattan is, of course, the most expensive place to live in the
U.S.—but is it a pricey city to be happy in?

The researchers over at S Money, Melbourne-based money exchange service,
converted data from a 2018 "happiness premium" study from Purdue University,
which identified a global average "satiation point," or income level, at which a
person "becomes happy" based on Gallup World Poll figures from over 1.7 million
people in 164 countries. The S Money team exchanged the Purdue study's figures
back into local currencies, "allowing for purchasing power and the local cost of
living" to conjure up "a more practical, day-to-day look at how money might
affect happiness."

Discover Time Out original video

 




Surprisingly, despite its money-guzzling reputation, New York City didn't come
out at number one in S Money's findings. Instead, Gotham ended up in third, with
$145,028 annually being the high price for happiness throughout the city.
Beating the Big Apple was Santa Barbara, California, where a happy existence
costs a cool $162,721 per year, and Honolulu, Hawaii at $148,943 annually. Other
costly coastal cities including San Francisco, California ($144,448) and
Seattle, Washington ($134,721) round out the top five. "Meanwhile, Knoxville,
Tennessee residents need an income of $88,032 to be content," the study reads. 

In terms of countries, Iran had the highest price of happiness: an annual income
of $239,7000, making other top-five high-priced nations like Yemen ($172,140),
Australia ($121,191), Zimbabwe ($118,342) and Norway ($117,724) look like
outright bargains in comparison. The United States did crack the top ten, coming
in tenth place with an annual happiness-boosting price of $105,000.

At the other end of the spectrum, Sierra Leone was the country with the lowest
income point needed for happiness at $8,658 per year. Fellow African countries
including Madagascar and Sudan joins Sierra Leone in the top five lowest,
clocking in under $12,000 annually, as did South American spots including Guyana
and Suriname.

Check out the city-specific data from S Money below:

 * Christina Izzo

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