Cost of Living in New York City, NY

Population 8,335,897 · New York

Compare with:

Median Rent

Studio

$1,633

1 Bedroom

$1,705

2 Bedroom

$1,781

3 Bedroom

$2,065

Buying a Home

Median Home Value

$751,700

Income

Median Household Income

$79,713

Metro Median Wage (annual)

$61,430

Household income: Census ACS, city. Metro median wage: BLS OEWS, all occupations, 2025 (metro area).

The People & Lifestyle

Median Age

38.0 yrs

Homeownership

32.8%

Bachelor's+ (25+)

41.0%

Avg Commute

40.6 min

Crime

Violent Crime (per 100k/yr)

690.9

Property Crime (per 100k/yr)

2,413.5

FBI Crime Data Explorer, New York City Police Department (2024). Offenses per 100,000 residents per year. Agency reporting practices vary, so cross-city comparisons are approximate.

Climate

Avg Annual Temperature

55.0°F

Annual Precipitation

49.9 in

Gas

Regular Gasoline (New York City)

$4.44/gal

EIA weekly retail average, week of 2026-05-25.

Public Transit

Base Fare (MTA)

$3.00

Adult base one-way fare on the primary agency (2026).

Utilities

Electricity

28.6¢/kWh

Natural Gas

$18.90/MCF

Residential, state-level averages (EIA, 2026-03-01). MCF = 1,000 cubic feet.

Groceries

Milk (gal)

$4.14

Bread (lb)

$1.92

Eggs (doz)

$2.25

Ground Beef (lb)

$6.90

Chicken (lb)

$2.02

Bananas (lb)

$0.68

Average prices, Northeast (BLS, 2026-04-01). Regional where available, otherwise U.S. average.

State Taxes (NY)

State Sales Tax

State Income Tax (top rate)

Up to 10.90%

State-level rates. Local sales taxes may add more. Income tax shown is the top marginal rate; most filers pay less.

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981-2010 (climate); EIA (gas, utilities); BLS Average Price Data (groceries) & OEWS (metro wage); transit agencies (fares); FBI Crime Data Explorer (crime); Tax Foundation 2026 (state taxes).