There are three prices every true New Yorker tracks: rent, subway fare, and the price of a slice of pizza.
Rents are famously crazy, but pizza and subway rides are stabilized by an economic axiom known as the New York Pizza Principle. Through a strange and delicate interplay of metropolitan financial markets, the cost of a subway ride has always run parallel to the price of a slice of pizza.
Comparing apples and oranges seems easy next to pizza and subway rides.
To an outsider, the relationship might seem arbitrary, but not to a New Yorker. The city’s subway system and its pizza are both essential institutions that touch nearly all of New York’s citizens.
This economic law has held with remarkable precision since 1964, when either one could be had for 15 cents.
Price increases have moved in lockstep ever since. The parallel is all the more uncanny when you consider the intervening decades of transportation and street food turbulence. State transit subsidies and deficits have come and gone for the New York City subway system, and pizza parlors have battled low-carb diets, the gluten-free craze, and a food truck invasion. Yet somehow, all the capital costs, union contracts, and passenger miles add up to the ingredient costs of flour, tomato sauce, and mozzarella.
The Pizza Principle suggests that New York City residents should be bracing for a fare hike from the Metropolitan Transportation Authority.
According to Zagat’s Pizza Week survey, the average regional price of a slice is $2.96 while a single ride on the subway is lagging at just $2.50. Similar pizza price inflation has preceded every single subway fare adjustment since these things have been tracked.
New Yorkers looking for a bargain can use Cheazza, an app that hunts down cheap slices around town.
Wherever you are, he number-crunching app Pizza Slice Price lets you compare prices of slices, topping, and whole pies so you can find the best deal.