Cost of Living · New York

New York City Cost of Living

New York City, New York costs approximately 32.0% above the US national average. Compare with 99 other major US cities.

1.32×

cost-of-living index (1.00 = US national average)

New York City ranks 1 of 3 cities in New York by cost of living.

Cities MORE expensive than New York City (2)

San Francisco, CA

+9.8% more expensive

+2.3% more expensive

Cities CHEAPER than New York City (97)

−1.5% cheaper

−1.5% cheaper

Los Angeles, CA

−7.6% cheaper

−7.6% cheaper

−8.3% cheaper

−9.1% cheaper

−9.1% cheaper

−10.6% cheaper

−10.6% cheaper

−10.6% cheaper

−10.6% cheaper

Chula Vista, CA

−12.9% cheaper

−15.2% cheaper

−16.7% cheaper

−16.7% cheaper

−16.7% cheaper

−16.7% cheaper

−18.2% cheaper

−20.5% cheaper

−20.5% cheaper

−20.5% cheaper

−20.5% cheaper

−20.5% cheaper

−20.5% cheaper

−20.5% cheaper

−21.2% cheaper

Minneapolis, MN

−21.2% cheaper

−21.2% cheaper

−21.2% cheaper

−22.7% cheaper

Philadelphia, PA

−22.7% cheaper

−22.7% cheaper

−22.7% cheaper

−22.7% cheaper

−22.7% cheaper

−22.7% cheaper

−22.7% cheaper

Salt Lake City, UT

−22.7% cheaper

−23.5% cheaper

−24.2% cheaper

−24.2% cheaper

Virginia Beach, VA

−24.2% cheaper

−24.2% cheaper

−24.2% cheaper

North Las Vegas, NV

−24.2% cheaper

−24.2% cheaper

−24.2% cheaper

−24.2% cheaper

−25.0% cheaper

−25.0% cheaper

Colorado Springs, CO

−25.0% cheaper

Bakersfield, CA

−25.0% cheaper

St. Petersburg, FL

−25.0% cheaper

−25.0% cheaper

−25.8% cheaper

Jacksonville, FL

−26.5% cheaper

−26.5% cheaper

−26.5% cheaper

−27.3% cheaper

−27.3% cheaper

−27.3% cheaper

−27.3% cheaper

−27.3% cheaper

−27.3% cheaper

−28.0% cheaper

−28.0% cheaper

Tallahassee, FL

−28.0% cheaper

−28.8% cheaper

Albuquerque, NM

−28.8% cheaper

New Orleans, LA

−28.8% cheaper

San Antonio, TX

−29.5% cheaper

Grand Rapids, MI

−29.5% cheaper

−30.3% cheaper

−30.3% cheaper

−30.3% cheaper

Kansas City, MO

−30.3% cheaper

−30.3% cheaper

Corpus Christi, TX

−30.3% cheaper

−30.3% cheaper

−30.3% cheaper

−30.3% cheaper

−31.1% cheaper

−31.1% cheaper

−31.1% cheaper

Winston-Salem, NC

−31.1% cheaper

Indianapolis, IN

−31.8% cheaper

−31.8% cheaper

−31.8% cheaper

−32.6% cheaper

Oklahoma City, OK

−32.6% cheaper

−32.6% cheaper

−33.3% cheaper

−33.3% cheaper

−33.3% cheaper

−34.8% cheaper

−34.8% cheaper

−34.8% cheaper

What living in New York City costs

At 1.32x national costs, New York City is more expensive than 97 and cheaper than 2 of the 99 other metros here. In practical terms that is $3,200 a month for a one-bedroom and roughly $780,000 to buy.

The price-to-rent ratio here is roughly 20, which is high. Above about 20, renting and investing the down payment usually beats buying over a normal holding period — the purchase price is steep relative to what the same property earns as a rental.

Working and living here

New York City is a metro of roughly 19.5M and roughly flat, running on finance, media, real estate. Larger employers include JPMorgan Chase, NYC Health + Hospitals, NYU.

Two tax details that change take-home here: New York City levies a local income tax of about 3.88% on top of state and federal — roughly $3,876 a year on a $100,000 salary — and New York taxes income as well.

Getting around: New York City is genuinely car-optional. Going car-free is realistic in parts of the metro, which is worth roughly $9,000 a year against a car-dependent city at the same rent.

Climate: Humid continental climate: January lows near 28°F, July highs near 85°F with high humidity.

NYC residents pay a local income tax up to 3.876% stacked on top of New York State's rate (up to 10.9%), giving Manhattan the highest combined marginal income tax burden of any major US city.

Related tools

Paycheck calculator — take-home after federal, state and local tax. Salary calculator — pay by job and state. Compare against another metro.

Frequently Asked Questions

Is New York City expensive to live in?▾

Relative to the US average, yes — the cost index is 1.32x, above 97 and below 2 of the 99 other metros tracked here. A one-bedroom averages $3,200 a month and the median home $780,000.

What salary do you need to live comfortably in New York City?▾

A common rule keeps rent under 30% of gross income, which at $3,200 a month implies about $128,000 a year for a one-bedroom, before accounting for the 3.88% local income tax. That is a floor rather than a comfortable figure — it leaves nothing for savings or the rest of the budget.