Cost of Living in New York, NY
2024 data from the Bureau of Economic Analysis
Cost Index
112.6
12.6% above avg
Housing Index
148.6
Median Income
$93,610
Median Rent
$1,711/mo
Cost Breakdown
Overall112.6 (+12.6%)
Housing148.6 (+48.6%)
Goods110.3 (+10.3%)
Utilities127.0 (+27.0%)
Other Services105.8 (+5.8%)
National average = 100
Income & Housing
Median Household Income
$93,610/year
Median Home Value
$553,500
Median Monthly Rent
$1,711/mo
Per Capita Income
$52,011/year
Compare New York, NY With
Frequently Asked Questions
Is New York, NY expensive to live in?
New York, NY has a cost of living index of 112.6, which is 12.6% above the national average.
How much does housing cost in New York, NY?
Housing costs in New York, NY are indexed at 148.6 compared to the national average of 100. The median monthly rent is $1,711.
What is the average income in New York, NY?
The median household income in New York, NY is $93,610 per year.
What is the average home price in New York, NY?
The median home value in New York, NY is $553,500.