Manhattan, NY is an expensive place to live. The average 2 Bedroom Rent in Manhattan, NY is $2,990 compared to the US which is only $1,430. Grocery costs are also higher in Manhattan at a Grocery Cost Index of 120 compared to the US' cost index of 100. Many companies have their headquarters in Manhattan such as media giants Time Warner and News Corp, financial services companies Wall Street and JP Morgan Chase, and luxury retail stores Saks Fifth Avenue and Bloomingdales. These companies all contribute to the economy of Manhattan and make it one of the most vibrant cities in America.
Manhattan has an unemployment rate of 8.6%. The US average is 6.0%.
Manhattan 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 31.5%, which is lower than the US average of 33.5%.
Tax Rates for Manhattan
- The Sales Tax Rate for Manhattan is 8.9%. The US average is 7.3%.
- The Income Tax Rate for Manhattan 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 Manhattan
- The average income of a Manhattan resident is $63,610 a year. The US average is $28,555 a year.
- The Median household income of a Manhattan resident is $93,956 a year. The US average is $69,021 a year.