Queens, NY Economy


Reviews



Download our custom City Report to see exclusive
data on cost of living, crime, climate, and more.
Queens, NY is a great place to live due to its affordability and access to amenities. The average 2 bedroom rent in Queens is only $2,640 compared to the US average of $1,430 which makes it much more affordable than other parts of the country. Additionally, the grocery cost index in Queens is 116 compared to the US average of 100 indicating that food shopping is relatively inexpensive in this area. There are many local companies and stores in Queens such as Macy's at Flushing Meadows Corona Park, Target in Elmhurst or Steinway Street Food Hall located in Astoria. These stores provide residents with a variety of shopping opportunities and make living in Queens an even more enjoyable experience.

Queens has an unemployment rate of 11.0%. The US average is 6.0%.

Queens has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 31.4%, which is lower than the US average of 33.5%.

Tax Rates for Queens
- The Sales Tax Rate for Queens is 8.9%. The US average is 7.3%.
- The Income Tax Rate for Queens is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Queens
- The average income of a Queens resident is $26,580 a year. The US average is $28,555 a year.
- The Median household income of a Queens resident is $75,886 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyQueens, New YorkUnited States
  116
  -12.4%-6.2%
  31.4%33.5%
  8.9%6.2%
  6.2%4.6%
  $35,640$37,638
  $75,886$69,021
  $85,305$85,028
  Population by Occupation
  0.1%1.2%
  0.0%0.5%
  7.5%6.8%
  3.3%10.0%
  2.0%2.5%
  9.4%11.0%
  8.1%4.8%
  0.4%0.8%
  2.6%1.9%
  5.0%4.7%
  2.7%1.9%
  7.5%7.6%
  0.1%0.1%
  4.3%4.2%
  8.2%9.3%
  17.8%14.0%
  2.0%2.1%
  8.7%7.0%
  6.1%4.8%
  4.4%4.7%
Health
Compare Queens, cost of living
Compare food, housing, utilities, and more in Queens, New York to any other city in the US.