New York, New York gets a BestPlaces Cost of Living index of 172.5, which means the total cost of housing, food, child care, transportation, health care, taxes, and other necessities is 72.5 percent higher than the U.S. average and 42.0 percent lower than the average for New York.
A typical home costs $677,200, which is 100.3 percent more expensive than the national average of $338,100 and 63.7 percent more expensive than the average New York home, at $413,600. Renting a two-bedroom unit in New York costs $2,600 per month, which is 81.8 percent more than the national average of $1,430 and 24.6 percent more than the state average of $1,960.
To live comfortably in New York, New York, a minimum annual income of $129,600 for a family, and $92,000 for a single person is recommended.
Our cost of living indices are based on a US average of 100. An amount below 100 means New York is cheaper than the US average. A cost of living index above 100 means New York, New York is more expensive.
New York cost of living is 172.5