It’s certainly no fun every month (or every other month) getting an electric bill. It’s one of those things that you need no matter what. How does your bill compare to someone in NYC? Of course, that all depends on where you live.
On average, a NYC household (which includes all of the 5 boroughs) spends $1899.48 per year on electricity. It’s not the highest in the nation. That honor goes to residents of Bridgeport-Stamford-Norwalk, CT who pay, on average, $2420.49 per year. The average American household pays $1,641.81 per year.
Of course, not every neighborhood is the same. The amount that people pay has a lot of factors including electricity rates (though throughout an entire city that will be the same), square footage of a residence, number of occupants, the amount of use, and the type of appliances in the home.
Click the map below to see an interactive map of NYC electricity rates. You can zoom in to see rates at the block group level as well.
The zip code where the average household in NYC spends the most on electricity is 10007. This area is in lower Manhattan near the World Trade Center. They spend an average of $3,801.76 per year. The average household size is just 1.96; significantly lower than the US average of 2.58 and the NYC average of 2.67. To better understand who lives in a neighborhood, we can use Tapestry Segmentation to classify consumers. Esri, a geographic information systems company which also does data analysis, developed the Tapestry Segmentation system that classifies US residential neighborhoods into 65 unique market segments based on socioeconomic and demographic characteristics. The dominant tapestry segment for 10007 is Laptops and Lattes. Residents of this tapestry group are primarily young, single, affluent, and educated. The median household income for this zip code $166,832, according to Esri’s 2011 projections (based on 2010 US Census data).
The zip code 10454, located in the Bronx, is the one where the average household in NYC spends the least on electricity. The average amount spent per year is $675.39. The household size in this area is 3.03. The primary tapestry segment of this zip code is High Rise Renters. This is a diverse group where more than half are Hispanic. Most employed residents work in service, professional, and office/administrative support occupations. The median household income in this zip code is $16,615.
This type of information can help businesses target consumers. As mentioned above, there are many factors that affect how much a household spends on electricity. Appliance manufacturers who want to target consumers spending a high amount on electricity can use this information (along with other data) to find consumers. Or target low-income consumers with lower-priced appliances that can also help them save on electricity costs.