Cost of Living in New York, New York
New York has a population of about 8,483,844. The median household income is $80,483, median gross rent is $1,821/month, and the median home value is $777,600. Below is how New York compares to the US.
Is New York expensive to live in?
Compared with the national median, rent in New York is 10% above the national median and home values are 108% above the national median. Household income here is 4% below the national median. Monthly rent represents roughly 27% of the median annual household income, a rough affordability signal for renters.
Frequently asked questions
What is the average rent in New York?
The median gross rent in New York, New York is $1,821 per month (US Census ACS).
What is the median home price in New York?
The median home value in New York is $777,600.
How much do people earn in New York?
The median household income in New York is $80,483 per year.
Data source: U.S. Census Bureau, 2024 American Community Survey (ACS) 5-Year Estimates. Last updated 2026-07-11.