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Cost of Living Data profile

Cost of Living in NYC: Rent, Housing & Income

  • Official data · Census ACS 2024 · BEA 2024 · EIA July–September 2026
Updated  7 sources

Cost of living vs. U.S. average (2024)

12.6% above

Cost of living in New York City is 12.6% above the U.S. average, based on the Bureau of Economic Analysis 2024 Regional Price Parities for the New York-Newark-Jersey City, NY-NJ metro area (index 112.6; U.S. = 100). Median rent in New York City is $1,811 a month.

Cost of living in New York City by category

Overall prices

112.6U.S. = 100

Regional price parity, all items

+12.6% vs. U.S.

Goods
110.3 +10.3%
Housing (rents)
148.6 +48.6%
Utilities
127.0 +27.0%
Other services
105.8 +5.8%

BEA 2024 · New York metro area Details: Overall prices

Housing

$1,811/mo

Median gross rent

+22% vs. U.S.

1-bedroom rent
$1,732 +33% vs. U.S.
2-bedroom rent
$1,811 +22% vs. U.S.
3-bedroom rent
$2,094 +25% vs. U.S.
Median home value
$778,600 +116% vs. U.S.
Owner costs, mortgage
$3,335 +64% vs. U.S.

Census ACS 2024 Details: Housing

Utilities

$167/mo

Average electric bill

+6% vs. U.S.

Electricity price
29.9¢/kWh +63% vs. U.S.
Natural gas, 12-mo avg.
$22.25/Mcf +15% vs. U.S.
Utilities price index
127.0

EIA July 2026 · New York State statewide Details: Utilities

Transportation

40.6min

Mean travel time to work

+49% vs. U.S.

Commute mode: public transit
48.7%
Work from home
12.5%
Gasoline (New York City area)
$4.35/gal About the same as U.S.

Census ACS 2024 · EIA September 2026 Details: Transportation

Food at home

$1,388/mo

Moderate-cost plan, family of 4

Thrifty plan, family of 4
$1,024/mo
Liberal plan, family of 4
$1,679/mo
Moderate plan, single woman
$403/mo
Moderate plan, single man
$478/mo

USDA August 2026 · U.S. average Details: Food at home

Child care

$300/wk

Center care, infant

+73% vs. U.S.

Center care, toddler
$277/wk +81% vs. U.S.
Center care, preschool
$259/wk +80% vs. U.S.
Home-based care, infant
$250/wk +75% vs. U.S.

DOL NDCP 2022 prices · Kings County (Brooklyn) Details: Child care

Income

$81,228/yr

Median household income

About the same as U.S.

Median rent as share of income
27%
Home value to income
9.6×

Census ACS 2024 Details: Income

Housing costs in New York City

Median gross rent in New York City is $1,811 a month, 22% above the U.S. median of $1,487. The median falls in the $1,500–$1,999 range, which holds 21.4% of renter households paying cash rent. Another 41.9% pay $2,000 or more.

The median owner-occupied home is valued at $778,600, and 30.9% of homes are valued at $1,000,000 or more.

Housing costs: New York City vs. New York State vs. U.S.

Median monthly rent

Median monthly rent New York City: $1,811; New York State: $1,634; U.S.: $1,487 New York City $1,811 New York State $1,634 U.S. $1,487

Monthly owner costs

Monthly owner costs New York City: $3,335; New York State: $2,544; U.S.: $2,035 New York City $3,335 New York State $2,544 U.S. $2,035

Median home value

Median home value New York City: $778,600; New York State: $449,800; U.S.: $360,600 New York City $778,600 New York State $449,800 U.S. $360,600
Show the data table
MeasureNew York CityNew York StateU.S.
Median monthly rent$1,811$1,634$1,487
Monthly owner costs$3,335$2,544$2,035
Median home value$778,600$449,800$360,600

Rent is median gross rent; owner costs are for homes with a mortgage. American Community Survey 2024 1-year estimates. Source: American Community Survey (U.S. Census Bureau)

What renters pay in New York City

What renters pay in New York City Share of renter households paying cash rent in New York City by range; ranges differ in width. The bottom range, less than $500, holds 8%; the top range, $3,500 or more, holds 12.7%. Median $1,811. The U.S. distribution is drawn as a line. 0% 10% 20% 30% Less than $500: 8% (U.S.: 6.1%) $500–$749: 4.2% (U.S.: 6.8%) $750–$999: 6% (U.S.: 11.5%) $1,000–$1,249: 8.9% (U.S.: 13.5%) $1,250–$1,499: 9.5% (U.S.: 12.9%) $1,500–$1,999: 21.4% (U.S.: 22.2%) $2,000–$2,499: 14.7% (U.S.: 13.2%) $2,500–$2,999: 9.2% (U.S.: 6.5%) $3,000–$3,499: 5.3% (U.S.: 3.2%) $3,500 or more: 12.7% (U.S.: 4.2%) $500–750 $1–1.25K $1.5–2K $2.5–3K $3.5K+ Median $1,811 (New York City) 21.4%
Show the data table
RangeNew York CityU.S.
Less than $5008%6.1%
$500–$7494.2%6.8%
$750–$9996%11.5%
$1,000–$1,2498.9%13.5%
$1,250–$1,4999.5%12.9%
$1,500–$1,99921.4%22.2%
$2,000–$2,49914.7%13.2%
$2,500–$2,9999.2%6.5%
$3,000–$3,4995.3%3.2%
$3,500 or more12.7%4.2%

Share of renter households paying cash rent. Census ACS 2024 1-year estimates, table B25063. Source: American Community Survey (U.S. Census Bureau)

Home values in New York City

Home values in New York City Share of owner-occupied homes in New York City by range; ranges differ in width. The bottom range, less than $100,000, holds 4.8%; the top range, $1,500,000 or more, holds 16%. Median $778,600. The U.S. distribution is drawn as a line. 0% 10% 20% 30% Less than $100,000: 4.8% (U.S.: 10.2%) $100,000–$149,999: 1.4% (U.S.: 5.7%) $150,000–$199,999: 1.5% (U.S.: 7.5%) $200,000–$249,999: 2% (U.S.: 8.4%) $250,000–$299,999: 2.5% (U.S.: 8.5%) $300,000–$399,999: 6% (U.S.: 15.9%) $400,000–$499,999: 5.7% (U.S.: 12%) $500,000–$749,999: 23.6% (U.S.: 16.3%) $750,000–$999,999: 21.5% (U.S.: 7.5%) $1,000,000–$1,499,999: 14.9% (U.S.: 4.3%) $1,500,000 or more: 16% (U.S.: 3.7%) <$100K $100–150K $150–200K $250–300K $400–500K $500–750K $750K–1M $1.5M+ Median $778,600 (New York City) 23.6%
Show the data table
RangeNew York CityU.S.
Less than $100,0004.8%10.2%
$100,000–$149,9991.4%5.7%
$150,000–$199,9991.5%7.5%
$200,000–$249,9992%8.4%
$250,000–$299,9992.5%8.5%
$300,000–$399,9996%15.9%
$400,000–$499,9995.7%12%
$500,000–$749,99923.6%16.3%
$750,000–$999,99921.5%7.5%
$1,000,000–$1,499,99914.9%4.3%
$1,500,000 or more16%3.7%

Share of owner-occupied homes. Census ACS 2024 1-year estimates, table B25075. Source: American Community Survey (U.S. Census Bureau)

Monthly housing costs in New York City

Measure New York City New York State U.S.
Median rent (all units) $1,811$1,634$1,487
1-bedroom rent $1,732$1,530$1,301
2-bedroom rent $1,811$1,634$1,490
3-bedroom rent $2,094$1,852$1,677
Owner costs with a mortgage $3,335$2,544$2,035

Median gross rent includes utilities the renter pays. Owner costs include the mortgage, taxes, insurance, and utilities. American Community Survey 2024 1-year estimates. Source: American Community Survey (U.S. Census Bureau)

How affordable is New York City?

At the median, rent takes about 27% of household income in New York City. Housing experts treat 30% as the limit before a household is considered cost-burdened. To keep the median rent at 30% of income, a household would need to earn about $72,400 a year.

The median home is worth $778,600, or 9.6 times the median household income.

Household income in New York City

The median household in New York City earns $81,228 a year, about the same as the U.S. median of $81,604. About 18.2% of households earn $200,000 or more, while 20% earn less than $25,000.

Median household income: New York City vs. New York State vs. U.S.

Median household income (yearly)

Median household income (yearly) New York City: $81,228; New York State: $85,820; U.S.: $81,604 New York City $81,228 New York State $85,820 U.S. $81,604
Show the data table
MeasureNew York CityNew York StateU.S.
Median household income (yearly)$81,228$85,820$81,604

American Community Survey 2024 1-year estimates. Source: American Community Survey (U.S. Census Bureau)

Household income distribution in New York City

Household income distribution in New York City Share of households in New York City by range; ranges differ in width. The bottom range, less than $10,000, holds 8%; the top range, $200,000 or more, holds 18.2%. Median $81,228. The U.S. distribution is drawn as a line. 0% 5% 10% 15% 20% Less than $10,000: 8% (U.S.: 5.1%) $10,000–$14,999: 4.8% (U.S.: 3.3%) $15,000–$19,999: 3.4% (U.S.: 2.8%) $20,000–$24,999: 3.8% (U.S.: 3.2%) $25,000–$29,999: 2.8% (U.S.: 3%) $30,000–$34,999: 3.1% (U.S.: 3.3%) $35,000–$39,999: 2.7% (U.S.: 3.2%) $40,000–$44,999: 3% (U.S.: 3.5%) $45,000–$49,999: 2.7% (U.S.: 3.2%) $50,000–$59,999: 5.4% (U.S.: 6.4%) $60,000–$74,999: 7.3% (U.S.: 9.2%) $75,000–$99,999: 10.9% (U.S.: 12.6%) $100,000–$124,999: 8.7% (U.S.: 10.4%) $125,000–$149,999: 6.3% (U.S.: 7.4%) $150,000–$199,999: 8.9% (U.S.: 9.7%) $200,000 or more: 18.2% (U.S.: 13.7%) $10–15K $20–25K $30–35K $40–45K $50–60K $75–100K $125–150K $200K+ Median $81,228 (New York City) 18.2%
Show the data table
RangeNew York CityU.S.
Less than $10,0008%5.1%
$10,000–$14,9994.8%3.3%
$15,000–$19,9993.4%2.8%
$20,000–$24,9993.8%3.2%
$25,000–$29,9992.8%3%
$30,000–$34,9993.1%3.3%
$35,000–$39,9992.7%3.2%
$40,000–$44,9993%3.5%
$45,000–$49,9992.7%3.2%
$50,000–$59,9995.4%6.4%
$60,000–$74,9997.3%9.2%
$75,000–$99,99910.9%12.6%
$100,000–$124,9998.7%10.4%
$125,000–$149,9996.3%7.4%
$150,000–$199,9998.9%9.7%
$200,000 or more18.2%13.7%

Share of households. Census ACS 2024 1-year estimates, table B19001. Source: American Community Survey (U.S. Census Bureau)

Income and home values

Measure New York City New York State U.S.
Median household income (yearly) $81,228$85,820$81,604
Median home value $778,600$449,800$360,600

American Community Survey 2024 1-year estimates. Source: American Community Survey (U.S. Census Bureau)

Price levels compared with the U.S.

The Bureau of Economic Analysis publishes Regional Price Parities: price levels for the same basket of goods and services, with the U.S. average set to 100. In 2024, the New York-Newark-Jersey City, NY-NJ metro area scored 112.6 for all items. The highest category is housing rents at 148.6; the lowest is other services at 105.8.

Regional price parities by category (U.S. = 100)

All items

All items New York metro area: 112.6; New York State: 107.9; U.S.: 100.0 New York metro area 112.6 New York State 107.9 U.S. 100.0

Goods

Goods New York metro area: 110.3; New York State: 107.3; U.S.: 99.6 New York metro area 110.3 New York State 107.3 U.S. 99.6

Housing (rents)

Housing (rents) New York metro area: 148.6; New York State: 122.2; U.S.: 100.6 New York metro area 148.6 New York State 122.2 U.S. 100.6

Utilities

Utilities New York metro area: 127.0; New York State: 134.4; U.S.: 98.4 New York metro area 127.0 New York State 134.4 U.S. 98.4

Other services

Other services New York metro area: 105.8; New York State: 104.1; U.S.: 100.1 New York metro area 105.8 New York State 104.1 U.S. 100.1
Show the data table
MeasureNew York metro areaNew York StateU.S.
All items112.6107.9100.0
Goods110.3107.399.6
Housing (rents)148.6122.2100.6
Utilities127.0134.498.4
Other services105.8104.1100.1

Index, U.S. = 100. Bureau of Economic Analysis Regional Price Parities, 2024. Metro area: New York-Newark-Jersey City, NY-NJ. Source: U.S. Bureau of Economic Analysis, Regional Price Parities

Utilities and energy costs

Households in New York State paid an average of 29.9¢ per kWh for electricity in July 2026, compared with 18.3¢ nationally. Over the past 12 months the average residential bill was $167 a month (U.S.: $157). Residential natural gas averaged $22.25 per thousand cubic feet over the 12 months to July 2026 (U.S.: $19.40).

Energy prices are reported statewide, so these are New York State averages rather than figures for New York City alone.

Energy prices: New York State vs. U.S.

Electricity price (¢/kWh)

Electricity price (¢/kWh) New York State: 29.9¢; U.S.: 18.3¢ New York State 29.9¢ U.S. 18.3¢

Average electric bill (monthly)

Average electric bill (monthly) New York State: $167; U.S.: $157 New York State $167 U.S. $157

Natural gas, 12-mo avg. ($/Mcf)

Natural gas, 12-mo avg. ($/Mcf) New York State: $22.25; U.S.: $19.40 New York State $22.25 U.S. $19.40
Show the data table
MeasureNew York StateU.S.
Electricity price (¢/kWh)29.9¢18.3¢
Average electric bill (monthly)$167$157
Natural gas, 12-mo avg. ($/Mcf)$22.25$19.40

Residential customers. Electricity price for July 2026; electric bill and natural gas are 12-month averages. U.S. Energy Information Administration. Sources: EIA Electric Power Monthly: residential retail sales; EIA Natural Gas Monthly: price delivered to residential consumers

Transportation and commuting

Workers in New York City who commute spend an average of 40.6 minutes getting to work (U.S.: 27.2 minutes). The most common way to get to work is to take public transit (48.7% of workers); 12.5% work from home. Regular gasoline averaged $4.35 a gallon in the New York City area in September 2026, compared with $4.36 nationally.

How workers get to work

How workers get to work New York City: Drove alone 20.6%, Carpooled 4.4%, Public transit 48.7%, Walked 9.6%, Bicycle 1.7%, Worked from home 12.5%, Other (taxi, motorcycle, etc.) 2.5%. New York State: Drove alone 48.7%, Carpooled 6.7%, Public transit 24.2%, Walked 5.8%, Bicycle 0.9%, Worked from home 11.8%, Other (taxi, motorcycle, etc.) 2%. U.S.: Drove alone 69.2%, Carpooled 9.2%, Public transit 3.7%, Walked 2.4%, Bicycle 0.5%, Worked from home 13.3%, Other (taxi, motorcycle, etc.) 1.7%. Most common in New York City: Public transit. New York City New York City · Drove alone: 20.6% 20.6% New York City · Carpooled: 4.4% New York City · Public transit: 48.7% 48.7% New York City · Walked: 9.6% New York City · Bicycle: 1.7% New York City · Worked from home: 12.5% 12.5% New York City · Other (taxi, motorcycle, etc.): 2.5% New York State New York State · Drove alone: 48.7% 48.7% New York State · Carpooled: 6.7% New York State · Public transit: 24.2% 24.2% New York State · Walked: 5.8% New York State · Bicycle: 0.9% New York State · Worked from home: 11.8% 11.8% New York State · Other (taxi, motorcycle, etc.): 2% U.S. U.S. · Drove alone: 69.2% 69.2% U.S. · Carpooled: 9.2% U.S. · Public transit: 3.7% U.S. · Walked: 2.4% U.S. · Bicycle: 0.5% U.S. · Worked from home: 13.3% 13.3% U.S. · Other (taxi, motorcycle, etc.): 1.7%
Show the data table
Means of transportationNew York CityNew York StateU.S.
Drove alone20.6%48.7%69.2%
Carpooled4.4%6.7%9.2%
Public transit48.7%24.2%3.7%
Walked9.6%5.8%2.4%
Bicycle1.7%0.9%0.5%
Worked from home12.5%11.8%13.3%
Other (taxi, motorcycle, etc.)2.5%2%1.7%

Share of workers 16 and over. Census ACS 2024 1-year estimates, table B08301. Source: American Community Survey (U.S. Census Bureau)

Travel time to work in New York City

Travel time to work in New York City Share of workers who do not work from home in New York City by range; ranges differ in width. The bottom range, less than 5 min, holds 1.2%; the top range, 90 min or more, holds 6.9%. Mean 40.6 min. The U.S. distribution is drawn as a line. 0% 5% 10% 15% 20% Less than 5 min: 1.2% (U.S.: 2.8%) 5–9 min: 2.8% (U.S.: 9.4%) 10–14 min: 5.2% (U.S.: 13.1%) 15–19 min: 7.5% (U.S.: 15%) 20–24 min: 9% (U.S.: 14.1%) 25–29 min: 4.9% (U.S.: 7%) 30–34 min: 16.9% (U.S.: 13.7%) 35–39 min: 4.1% (U.S.: 3.4%) 40–44 min: 7.2% (U.S.: 4.1%) 45–59 min: 16% (U.S.: 8.3%) 60–89 min: 18.3% (U.S.: 6.3%) 90 min or more: 6.9% (U.S.: 3%) <5 5–9 10–14 15–19 20–24 25–29 30–34 35–39 40–44 45–59 60–89 90+ Mean 40.6 min (New York City) 18.3%
Show the data table
RangeNew York CityU.S.
Less than 5 min1.2%2.8%
5–9 min2.8%9.4%
10–14 min5.2%13.1%
15–19 min7.5%15%
20–24 min9%14.1%
25–29 min4.9%7%
30–34 min16.9%13.7%
35–39 min4.1%3.4%
40–44 min7.2%4.1%
45–59 min16%8.3%
60–89 min18.3%6.3%
90 min or more6.9%3%

Share of workers who do not work from home. Census ACS 2024 1-year estimates, table B08303. Source: American Community Survey (U.S. Census Bureau)

Child care costs in New York City

In 2022, full-time center-based care for an infant had a median price of $300 a week in Kings County (Brooklyn), or $15,600 over 52 weeks. That is 73% above the U.S. county median of $174. Prices are for 2022 and are not adjusted for inflation. Kings County (Brooklyn) is one of the 5 counties New York City spans and holds 31% of New York City residents; the database reports counties, not cities.

Weekly child care prices (2022)

Type of care Kings County (Brooklyn) New York State (county median) U.S. (county median)
Center-based care, infant $300$247$174
Center-based care, toddler $277$230$153
Center-based care, preschool $259$200$144
Center-based care, school-age $225$194$120
Home-based family care, infant $250$190$143
Home-based family care, toddler $220$180$132
Home-based family care, preschool $200$175$131
Home-based family care, school-age $190$175$118

Median weekly price for full-time care. State and U.S. figures are medians of county medians. Prices are for 2022 and are not adjusted for inflation. U.S. Department of Labor, National Database of Childcare Prices. Source: National Database of Childcare Prices (U.S. Department of Labor, Women's Bureau)

Food costs

USDA's moderate-cost food plan puts groceries for a family of four at $1,388 a month in August 2026; the thrifty plan comes to $1,024. USDA publishes these as national averages, not city figures, so they show a typical grocery budget rather than New York City prices.

Monthly cost of food at home (August 2026)

USDA food plan U.S. family of 4 U.S. couple U.S. single man U.S. single woman
Thrifty $1,024$630$383$304
Low-cost $1,126$652$381$331
Moderate-cost $1,388$808$478$403
Liberal $1,679$1,007$583$515

Family of 4: two adults and two children aged 6–8 and 9–11. For a single man, the Thrifty plan costs more than the Low-cost plan: USDA re-evaluated the Thrifty plan in 2021, while the other plans still use older market baskets. USDA Food and Nutrition Service, Official Food Plans, August 2026. Source: USDA Food Plans: Cost of Food at Home (monthly reports)

Frequently asked questions

What is the average rent in New York City?

Median rent is $1,732 for a one-bedroom and $1,811 for a two-bedroom unit, including utilities the renter pays.

How much do most renters pay in New York City?

Among renter households paying cash rent, 18.2% pay less than $1,000 a month, 39.8% pay $1,000 to $1,999, and 41.9% pay $2,000 or more (Census ACS 2024).

How much do you need to make to live in New York City?

To keep the median rent of $1,811 at no more than 30% of income, a household needs about $72,400 a year before taxes. This covers housing only.

Is New York City more expensive than the U.S. average?

Yes. The Bureau of Economic Analysis puts overall prices in the New York-Newark-Jersey City, NY-NJ metro area at 112.6 for 2024 (U.S. = 100), 12.6% above average. Housing rents score 148.6.

How long is the average commute in New York City?

40.6 minutes one way for workers who commute, compared with 27.2 minutes nationally (Census ACS 2024).

How much does infant day care cost in New York City?

The median price for full-time center-based infant care was $300 a week in Kings County (Brooklyn) in 2022, according to the Department of Labor's National Database of Childcare Prices. Kings County (Brooklyn) is one of the 5 counties New York City spans and holds 31% of New York City residents; the database reports counties, not cities.