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Cost of Living in New York City, New York

Rent, everyday costs and taxes in New York City, what each job keeps after paying them, and how the city compares with the rest of the US.

Population
8,584,629
Median household income
$81,228
Cost of living (US = 100)
112.6
Unemployment rate
6.9%

Is New York City a good place to live?

New York City is hard on a single typical paycheck: after taxes, a 1-bedroom rent and everyday costs, a typical worker living alone comes up $8,670 a year short. It works better for higher earners and for people who share housing.

Your own pay and housing may differ. Try your job

  • Cost of living13% above the US average (BEA, 2024)
  • Rent$2,926 a month for a 1-bedroom (HUD)
  • Taxes$2,720 of state income tax on a typical wage, plus $1,946 of local income tax

Cost of living in New York City

Prices in the New York-Newark-Jersey City, NY-NJ area run 13% above the US average. Housing is the biggest difference, at 49% above the US average.

  • Housing49% above the US average
  • Goods (food, clothing, cars)10% above the US average
  • Utilities27% above the US average
  • Other services (healthcare and more)6% above the US average
  • All items13% above the US average

Monthly budget for one person

CostMonthlyYearly
Rent, 1-bedroom$2,926$35,112
Food$544$6,528
Transportation$430$5,160
Healthcare$373$4,476
Utilities$331$3,972
Total before taxes$4,604$55,248

Rent by apartment size

Monthly rentNew York CityWhole metro area
Studio$2,781$2,593
1 bedroom$2,926$2,729
2 bedrooms$3,188$2,971
3 bedrooms$4,029$3,760
4 bedrooms$4,413$4,121

Living in New York City

How New York City compares with the US on income, housing, work and commuting (Census Bureau, ACS 2024 1-year).

MeasureNew York CityUS
Median household income$81,228$81,604
Median home value$778,600$360,600
Median rent paid$1,811$1,487
Households renting67.3%34.7%
Unemployment rate6.9%4.6%
Living below the poverty line18%12.2%
Adults with a bachelor's degree or higher42.5%36.9%
Median age38.5 years39.2 years
Average commute, one way40.6 minutes27.2 minutes
Working from home12.5%13.3%
Commuting by public transit48.7%3.7%

Home internet

4 providers offer home internet to at least a quarter of New York City, led by Verizon, T-Mobile, Spectrum, Optimum. Fiber reaches 79.3% of homes and 70.8% can get gigabit speeds. Compare providers in New York City

Pros and cons of living in New York City

Pros

  • Usable public transit. 48.7% of commuters take public transit, against 3.7% nationally.

Cons

  • Paychecks don't stretch far. A typical worker living alone comes up $8,670 short each year after taxes, rent and everyday costs.
  • Longer commutes. The average one-way commute is 40.6 minutes, against 27.2 nationally.
  • Higher unemployment. Unemployment is 6.9%, against 4.6% nationally (ACS 2024 1-year).
  • Higher cost of living. Prices are 13% above the US average (BEA, 2024).

What your job keeps in New York City

Pick a job, or enter your salary, to see what's left after federal, payroll, state and local taxes, a 1-bedroom rent and everyday costs.

Typical worker in New York City, NY
Typical salary
$61,430
Federal income tax
−$5,192
Payroll taxes
−$4,996
State income tax
−$2,720
Local income tax
−$1,946
Rent, 1-bedroom
−$35,112
Everyday costs
−$20,134
Short by$8,670

a year ($723 a month) for one earner renting a 1-bedroom alone

Pay: BLS OEWS New York-Newark-Jersey City, NY-NJ. Rent: HUD FY2027. Taxes: 2026 federal, state and local schedules for a single filer.

From $61,430 gross, deductions leave a shortfall of $8,670 a year.
Salary$61,430Federal income tax−$5,192Payroll taxes−$4,996State income tax−$2,720Local income tax−$1,946Rent, 1-bedroom−$35,112Everyday costs−$20,134Short by$8,670

A single earner renting a 1-bedroom alone. Sharing housing, or a second income, changes this a lot.

What the most common jobs keep here

The 10 jobs we cover with the most workers in the New York-Newark-Jersey City, NY-NJ area.

JobMedian payYou keep
Lawyer$208,880$80,265
Software engineer$166,830$54,203
Financial analyst$128,930$32,331
Project manager$126,660$31,026
Registered nurse$119,720$26,999
Accountant$105,650$18,613
Police officer$105,540$18,545
Teacher$98,208$14,104
Truck driver$65,040−$6,120
Nursing assistant$49,270−$17,265

Other jobs, A–Z

What each keeps in New York City on its median pay. Pick one in the calculator above for the full breakdown.

  • Auto mechanic −$11,262
  • Carpenter −$358
  • Civil engineer $19,630
  • Data scientist $36,378
  • Dental assistant −$17,859
  • Dental hygienist $21,054
  • Dentist $68,122
  • Diesel mechanic $539
  • Electrician $2,504
  • Firefighter $19,079
  • HVAC technician $1,880
  • Licensed practical nurse $619
  • Lineman $28,625
  • Mechanical engineer $21,215
  • Medical assistant −$17,900
  • Nurse practitioner $52,158
  • Occupational therapist $16,074
  • Paralegal $266
  • Paramedic $2,826
  • Pharmacist $39,446
  • Pharmacy technician −$20,539
  • Physical therapist $19,824
  • Physician assistant $54,684
  • Plumber $2,256
  • Radiologic technologist $16,843
  • Respiratory therapist $21,511
  • Social worker −$539
  • Speech-language pathologist $19,949
  • Veterinarian $47,964
  • Welder −$8,494

Local income tax: Applies to New York State taxable income. The household credit and school tax credit are not modelled.

Compare New York City with other cities

Compare New York City with another city: any city or state, any of our 40 jobs.

Moving to New York City

132 licensed interstate movers are based in New York City, and 432 more elsewhere in the New York-Newark-Jersey City, NY-NJ area (FMCSA, household-goods authority).

Questions people ask

Is New York City, NY a good place to live?

New York City is hard on a single typical paycheck: after taxes, a 1-bedroom rent and everyday costs, a typical worker living alone comes up $8,670 a year short. It works better for higher earners and for people who share housing. The typical worker here earns $61,430 and would be $8,670 short a year after federal, payroll and state taxes, a 1-bedroom rent and everyday costs, renting alone.

What is the cost of living in New York City?

Prices in the New York-Newark-Jersey City, NY-NJ area are 13% above the US average (BEA Regional Price Parities, 2024). A 1-bedroom rents for $2,926 a month (HUD fair market rent, FY2027), and everyday costs for one person, covering food, transportation, healthcare and utilities, come to about $1,678 a month.

How much do you need to earn to live in New York City?

A single person renting a 1-bedroom alone needs about $74,900 a year before tax to cover taxes, rent and everyday costs, with nothing left over. The typical worker in the New York-Newark-Jersey City, NY-NJ area earns $61,430.

What is the average rent in New York City?

HUD's fair market rent for FY2027 is $2,781 for a studio, $2,926 for a 1-bedroom and $3,188 for a 2-bedroom. The Census Bureau puts the median rent paid in New York City at $1,811 a month (2024).

Does New York City have a state or city income tax?

Yes. On a typical wage of $61,430, New York state income tax comes to about $2,720 a year. New York City residents also pay City of New York income tax, about $1,946 on the same wage.

What internet providers serve New York City?

4 providers offer home internet to at least a quarter of New York City, led by Verizon, T-Mobile, Spectrum, Optimum. 79.3% of homes can get fiber and 70.8% can get gigabit speeds (FCC National Broadband Map).

Sources and method

Everyday costs: BLS Consumer Expenditure Survey 2024 (one-person households) × CPI-U to August 2026 × BEA Regional Price Parities 2024. Taxes assume a single filer with the standard deduction and wage income only.

Data compiled October 13, 2026. How we calculate