The allure of a New York City break is timeless, the rising cost of doing one less so. Air fares are high, hotel rooms are small and expensive (and breakfast rarely included), while eating out for every meal comes with a 20 per cent tip.

And it’s all getting more expensive . You can expect to pay as much as £5 for a latte, while a couple of glasses of wine in the Theatre District can easily set you back £40.

Data company Numbeo’s Cost of Living Index by City reveals that New York is the third-most expensive city in the world, after Geneva and Zurich in Switzerland.

Its data shows that the cost of living in New York is more than a third higher than in London, while restaurant prices in the Big Apple are 22.3 per cent higher and groceries prices a staggering 50.7 per cent more.

However, despite the high prices, the city that never sleeps continues to attract visitors – for many, a long weekend in Manhattan is a bucket list trip.

While the number of visitors to New York City in 2023 was still 7 per cent shy of 2019 levels, tourists spent 1.3 per cent more, partly due to the steep rise in average hotel room rates, which exceeded $300 (£236) per night, according to the Office of the New York State Comptroller.

Officials expect 2025 to see more than 68 million tourists, exceeding pre-pandemic visitation levels, despite the significant cost of a trip there.

Rising inflation is pushing up consumer prices, while the strong dollar is making purchases even more costly for pound-wielding Britons. Last year, New York cracked down on short-term rentals in the city, putting even greater demand on pricey hotel rooms.

Landlords are now required to register their short-term rental properties with the city, and platforms such as Airbnb and Vrbo are prohibited from processing transactions for unregistered rentals.

The law bans short-term dwelling units if the landlord doesn’t “maintain a common household with a rentee”, meaning that properties separate from the owner’s main property are not allowed.

By October 2023, the number of short-term listings fell by more than 80 per cent, according to Airbnb.

Youth hostels have been banned since 2010 and in 2021, New York’s city council made it harder to build hotels throughout the city, all of which has made hotel accommodation more of a premium.

Although it’s rarely possible to secure a trip to New York for a rock-bottom price, especially in peak times like high summer and December, there are ways to save money, particularly if you can be flexible with timing.

The sweet spot for well-priced breaks is January and February, when lower demand comes with financial incentives.

This week, NYC Tourism launched its annual Hotel Week discounts, along with its NYC Winter Outing programme, which offers solid discounts to restaurants, Broadway shows and top attractions.

Hotel Week runs from 2 January to 9 February 2025, while the Winter Outing will be active from 21 January to 9 February. Here’s how you can make the most of the Concrete Jungle for the lowest possible prices.

Get 25 per cent off selected hotels

NYC Hotel Week will return from 2 January to 9 February, with participating hotels offering 25 per cent off standard room rates in honour, NYC Tourism says, of the year 2025.

Reservations, which opened on Tuesday, offer discounts at more than 120 participating hotels including the New York Marriott Marquis, Lotte New York Palace, The Plaza Hotel, The Knickerbocker, the Wythe Hotel and Ace Hotel Brooklyn.

Just off Times Square in Manhattan, a night at the M Social Hotel can cost more than £500 in December. In January, prices start at £110, although it’s worth bearing in mind that hotels are usually less costly that month, so the discount isn’t as deep as it might look.

Also near the bright lights of Times Square is Sanctuary Hotel New York , which has rooms for £355 in December. Prices in January start at £96, and you’ll be right in the middle of all the action.

Those low rates for the centre of town will likely be snapped up, so it’s worth looking at the outer boroughs for better prices. Getting into Manhattan is straightforward, thanks to the extensive subway system.

At the Even Hotel Brooklyn, a night in December costs in excess of £300 whereas, in January and February, it’s possible to secure a room from £93.

In Queens, the Four Points by Sheraton is £203 a night and, for selected dates in January and February, it’s as little as £112.

In The Bronx, the Wingate by Wyndham will be more than 50 per cent cheaper on some dates at the start of 2025, with prices from £85, as opposed to £194 in December.

Restaurant Week offers prix-fixe menus at hundreds of restaurants

Numbeo found that the average cost of a three-course meal at a mid-range restaurant in New York City is $130 (£102) before tips.

Get 2-for-1 offers on Broadway tickets and popular activities

From 21 January to 9 February, the NYC Winter Outing programme will offer 2-for-1 tickets on Broadway shows , making the notoriously expensive activity significantly more accessible.

Although the full lineup of performances included in the offer won’t be available until 7 January, when booking opens open, expect to see favourites such as Wicked , The Great Gatsby and Aladdin on the list.

Data gathering company Statista found that the average admission paid to attend a Broadway musical in New York has experienced an increasing trend over the past 15 years.

In the year 2023/24 the average ticket price for a musical reached around $128.50 (£101.50). If you take advantage of the NYC Tourism offer, then, you could save a solid amount – or even see two shows for the same price as one.

Also from 21 January 21 to 9 February, the scheme is offering savings on attractions, museums, performing arts and tours with 2-for-1 NYC Must-See Week tickets.

There is no confirmed information on which experiences will be included – this will be announced on 7 January, when reservations open.

Free entry is sometimes possible – if you know where to look

However, if you’re a culture vulture and keen to see as many exhibitions as possible, it’s worth planning ahead, especially for venues which offer free entry.

While free admission to museums in London is fairly common, it’s not the case in New York, with prices soon making your pockets hurt. There are a few exceptions to this, though.

The Guggenheim has pay-what-you-wish hours on Mondays and Saturdays every week, but only from 4pm to 5.30pm. The suggested contribution is $10 (£7.92), and the minimum is $1 (79p) and, although advance reservations are strongly recommended, additional tickets are available on-site during pay-what-you-wish hours.

Every Friday evening, between 5pm and 10pm, and on the second Sunday of every month, admission to the Whitney Museum of American Art is free. Tickets are required and capacity is limited, so make sure to book ahead.

The Museum of the Moving Image , located in Astoria, Queens, pays tribute to every step of the filmmaking process and offers free entry every Thursday from 2pm to 6pm.

Even better is the Bronx Museum of the Arts which showcases work by artists of African, Asian and Latin American ancestry as well as the diversity of the city’s five boroughs. This underrated gem offers free entry at all times.

On Sundays, the popular Brooklyn Brewery offers free tours, with tickets on a first come, first served basis.

Head to a tax-free state for cheaper shopping

If you’re in the United States for the shopping, it’s worth considering added taxes. New York has one of the highest tax rates in the country, at 8.875 per cent, meaning you’ll see an extra amount added to everything you buy.

The state of Delaware , south of New York, has no added sales tax so if you’re serious about snapping up a bargain, a trip there might make sense.

The city of Wilmington has the best shopping and plenty of malls, including the largest and most popular, Christiana .

The train from Penn Station in Midtown Manhattan to Wilmington costs from $15 (£11.85) one-way if you book in advance and takes from an hour and half to arrive.

Alternatively, a bus leaving from the Port Authority Bus Terminal near Times Square will cost from $31 (£24.50) one way and take a minimum of two hours and 20 minutes.

Weigh up whether a tourist pass is really worth it

If you’re keen to visit plenty of the iconic sights and attractions, you might want to consider an attraction pass, which can offer deep discounts on activities which will quickly add up price-wise. There are two passes – the CityPass and the New York Pass – which are among the most used options.

The CityPass , which currently costs £121 for an adult (£103 for a child), and gives you entry to the The Empire State Building and the American Museum of Natural History as well as three out of Top of the Rock Observation Deck, ferry access to Statue of Liberty and Ellis Island, 9/11 Memorial and Museum, Circle Line Sightseeing Cruises, Intrepid Museum and Guggenheim Museum, depending on your preferences. Tickets are valid for a 9-day period starting on and including the first day you visit an attraction.

While quite pricey, this option does offer some extra perks, including two visits to the Empire State Building – one during the day and the other after dark – which means you’re effectively getting two entrance fees for the price of one while seeing the city in all its glory twice.

Alternatively, the New York Pass allows you to choose between one and 10 days of sightseeing at more than 100 attractions.

Considering that prices range from around £121 to £315, or £90 to £236 for children, you need to make sure it works out cheaper than buying individual tickets to must-see sights.

If you do opt for a pass, you can usually buy these passes at the attractions themselves as well as online – sometimes for a discount. Ensure you don’t get caught out by any touts in busy areas offering deals that seem too good to be true – often, they are.

Don’t forget to factor in transport costs

Whether or not you can make it to New York for the discounted dates, there are ways to experience the city on a relative budget, starting with being flexible about transport options.

Unsurprisingly, flight prices vary a great deal – even if you book in advance.

If you were to fly in December, the cheapest option available is £399 return with Lufthansa, which offers minimal baggage.

In July and August 2025, the most affordable return flights are £403 and £446 respectively, both with budget airline Norse , which only allows a small personal item which must fit under the seat, and a cabin bag measuring 56 x 45 x 25cm.

By contrast, Norse offers returns in January from £319 which go down to £299 in February and £288 in March – almost down to pre-pandemic prices.

Icelandic low-cost airline Play does offer a stop off in Reykjavik at no extra cost but flights with that operator are rarely more affordable than others, and you’d have to figure in the extra expense of a pricey stay in the Nordic nation.

The Subway will likely be your affordable NYC best friend

When you arrive in New York, you’ll likely want to walk as much as possible, to get a real sense of the atmosphere.

If walking isn’t feasible and if you’re spending a good number of days in the city, it’s worth picking up a seven-day unlimited MetroCard which gives you all travel on the Subway and local buses.

The pass costs $34 (£26.85) for the week, which means you can travel across the whole city for less than $5 per day.

Considering that a single trip comes in at $2.90 (£2.29), if you’re likely to make more than 11 journeys during your trip, the pass is likely to be the cheaper option.