Cost of Living in New York, NY (2026)

New York's cost of living is 13% above the US average. $100,000 here is worth about $88,839 nationally. Rent, homes and monthly costs.

New York has a cost-of-living index of 113 against a US average of 100 — about 13% above average. $100,000 of income here is worth roughly $88,839 at the national average.

What it costs to live in New York

MeasureNew YorkUS average
Cost-of-living index113100
Median rent$1,779/mo-
Median home value$751,700-
Median household income$79,713-
Population8,516,202-

Monthly cost breakdown in New York

Estimates use BLS Consumer Expenditure Survey shares scaled by the local cost-of-living index. Housing uses the city’s median rent; the owning column uses a 30-year mortgage at 6.7% with 10% down on the median home.

CategoryRentingOwning
Housing$1,779$4,365
Transport$1,226$1,226
Food$965$965
Healthcare$606$606
Other$2,153$2,153
Total$6,729$9,315

Affordability in New York

Median rent takes about 26.8% of the median household income in New York — comfortably inside the 30% rule of thumb.

The median home costs 9.4x the median household income. Three times income is the traditional comfort line; five times is where affordability usually breaks down.

Highest-paying roles in New York

RoleTypical salaryWorth nationally
Marketing Manager$176,530$156,828
Software Developer$149,090$132,450
Data Scientist$133,560$118,654
Financial Analyst$126,890$112,728
Dental Hygienist$114,291$101,535
Registered Nurse$108,540$96,426
Mechanical Engineer$104,100$92,482
Physical Therapist$104,010$92,402

“Worth nationally” adjusts each salary for New York’s cost of living, so you can compare offers between cities on equal terms.

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Frequently asked questions

New York has a cost-of-living index of 113 against a US average of 100, so it is about 13% above the national average. In practical terms, $100,000 of income in New York has roughly the purchasing power of $88,839 at the national average.

A common benchmark is keeping rent at or under 30% of gross income. At New York's median rent of $1,779/month that implies about $71,160 a year before tax. The median household in New York earns $79,713.

Renting, a single household spends roughly $6,729 a month in New York across housing, transport, food, healthcare and everything else. Buying at the median home price, the estimate is about $9,315 a month including a 30-year mortgage at 6.7% with 10% down.

The median home in New York costs $751,700, which is 9.4x the median household income of $79,713. Lenders traditionally treat 3x as comfortable and about 5x as stretched, so New York is expensive relative to local incomes.