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Cost of Living Data profile

Cost of Living in New York: 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)

7.9% above

Cost of living in New York is 7.9% above the U.S. average, based on the Bureau of Economic Analysis 2024 Regional Price Parities for New York (index 107.9; U.S. = 100). Median rent in New York is $1,634 a month.

Cost of living in New York by category

Overall prices

107.9U.S. = 100

Regional price parity, all items

+7.9% vs. U.S.

Goods
107.3 +7.3%
Housing (rents)
122.2 +22.2%
Utilities
134.4 +34.4%
Other services
104.1 +4.1%

BEA 2024 · New York Details: Overall prices

Housing

$1,634/mo

Median gross rent

+10% vs. U.S.

1-bedroom rent
$1,530 +18% vs. U.S.
2-bedroom rent
$1,634 +10% vs. U.S.
3-bedroom rent
$1,852 +10% vs. U.S.
Median home value
$449,800 +25% vs. U.S.
Owner costs, mortgage
$2,544 +25% 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
134.4

EIA July 2026 · New York Details: Utilities

Transportation

33.2min

Mean travel time to work

+22% vs. U.S.

Commute mode: drove alone
48.7%
Work from home
11.8%
Gasoline (New York)
$4.36/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

$247/wk

Center care, infant

+42% vs. U.S.

Center care, toddler
$230/wk +50% vs. U.S.
Center care, preschool
$200/wk +39% vs. U.S.
Home-based care, infant
$190/wk +33% vs. U.S.

DOL NDCP 2022 prices · New York county median Details: Child care

Income

$85,820/yr

Median household income

+5% vs. U.S.

Median rent as share of income
23%
Home value to income
5.2×

Census ACS 2024 Details: Income

Housing costs in New York

Median gross rent in New York is $1,634 a month, 10% above the U.S. median of $1,487. The median falls in the $1,500–$1,999 range, which holds 20.1% of renter households paying cash rent. Another 35.3% pay $2,000 or more.

The median owner-occupied home is valued at $449,800, and 13.4% of homes are valued at $1,000,000 or more.

Housing costs: New York vs. U.S.

Median monthly rent

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

Monthly owner costs

Monthly owner costs New York: $2,544; U.S.: $2,035 New York $2,544 U.S. $2,035

Median home value

Median home value New York: $449,800; U.S.: $360,600 New York $449,800 U.S. $360,600
Show the data table
MeasureNew YorkU.S.
Median monthly rent$1,634$1,487
Monthly owner costs$2,544$2,035
Median home value$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

What renters pay in New York Share of renter households paying cash rent in New York by range; ranges differ in width. The bottom range, less than $500, holds 7.7%; the top range, $3,500 or more, holds 9.6%. Median $1,634. The U.S. distribution is drawn as a line. 0% 10% 20% 30% Less than $500: 7.7% (U.S.: 6.1%) $500–$749: 5.8% (U.S.: 6.8%) $750–$999: 8.9% (U.S.: 11.5%) $1,000–$1,249: 11.6% (U.S.: 13.5%) $1,250–$1,499: 10.5% (U.S.: 12.9%) $1,500–$1,999: 20.1% (U.S.: 22.2%) $2,000–$2,499: 13.4% (U.S.: 13.2%) $2,500–$2,999: 7.9% (U.S.: 6.5%) $3,000–$3,499: 4.4% (U.S.: 3.2%) $3,500 or more: 9.6% (U.S.: 4.2%) $500–750 $1–1.25K $1.5–2K $2.5–3K $3.5K+ Median $1,634 (New York) 20.1%
Show the data table
RangeNew YorkU.S.
Less than $5007.7%6.1%
$500–$7495.8%6.8%
$750–$9998.9%11.5%
$1,000–$1,24911.6%13.5%
$1,250–$1,49910.5%12.9%
$1,500–$1,99920.1%22.2%
$2,000–$2,49913.4%13.2%
$2,500–$2,9997.9%6.5%
$3,000–$3,4994.4%3.2%
$3,500 or more9.6%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

Home values in New York Share of owner-occupied homes in New York by range; ranges differ in width. The bottom range, less than $100,000, holds 8.7%; the top range, $1,500,000 or more, holds 6.6%. Median $449,800. The U.S. distribution is drawn as a line. 0% 10% 20% 30% Less than $100,000: 8.7% (U.S.: 10.2%) $100,000–$149,999: 5.7% (U.S.: 5.7%) $150,000–$199,999: 7.3% (U.S.: 7.5%) $200,000–$249,999: 7% (U.S.: 8.4%) $250,000–$299,999: 6.4% (U.S.: 8.5%) $300,000–$399,999: 10.5% (U.S.: 15.9%) $400,000–$499,999: 8.9% (U.S.: 12%) $500,000–$749,999: 20.2% (U.S.: 16.3%) $750,000–$999,999: 11.9% (U.S.: 7.5%) $1,000,000–$1,499,999: 6.8% (U.S.: 4.3%) $1,500,000 or more: 6.6% (U.S.: 3.7%) <$100K $100–150K $150–200K $250–300K $400–500K $500–750K $750K–1M $1.5M+ Median $449,800 (New York) 20.2%
Show the data table
RangeNew YorkU.S.
Less than $100,0008.7%10.2%
$100,000–$149,9995.7%5.7%
$150,000–$199,9997.3%7.5%
$200,000–$249,9997%8.4%
$250,000–$299,9996.4%8.5%
$300,000–$399,99910.5%15.9%
$400,000–$499,9998.9%12%
$500,000–$749,99920.2%16.3%
$750,000–$999,99911.9%7.5%
$1,000,000–$1,499,9996.8%4.3%
$1,500,000 or more6.6%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

Measure New York U.S.
Median rent (all units) $1,634$1,487
1-bedroom rent $1,530$1,301
2-bedroom rent $1,634$1,490
3-bedroom rent $1,852$1,677
Owner costs with a mortgage $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?

At the median, rent takes about 23% of household income in New York. 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 $65,400 a year.

The median home is worth $449,800, or 5.2 times the median household income.

Household income in New York

The median household in New York earns $85,820 a year, 5% above the U.S. median of $81,604. About 17.3% of households earn $200,000 or more, while 16.2% earn less than $25,000.

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

Median household income (yearly)

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

Household income distribution in New York Share of households in New York by range; ranges differ in width. The bottom range, less than $10,000, holds 6.2%; the top range, $200,000 or more, holds 17.3%. Median $85,820. The U.S. distribution is drawn as a line. 0% 5% 10% 15% 20% Less than $10,000: 6.2% (U.S.: 5.1%) $10,000–$14,999: 3.8% (U.S.: 3.3%) $15,000–$19,999: 2.9% (U.S.: 2.8%) $20,000–$24,999: 3.3% (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: 2.8% (U.S.: 3.2%) $40,000–$44,999: 3.2% (U.S.: 3.5%) $45,000–$49,999: 2.8% (U.S.: 3.2%) $50,000–$59,999: 5.8% (U.S.: 6.4%) $60,000–$74,999: 8% (U.S.: 9.2%) $75,000–$99,999: 11.5% (U.S.: 12.6%) $100,000–$124,999: 9.6% (U.S.: 10.4%) $125,000–$149,999: 7.1% (U.S.: 7.4%) $150,000–$199,999: 9.9% (U.S.: 9.7%) $200,000 or more: 17.3% (U.S.: 13.7%) $10–15K $20–25K $30–35K $40–45K $50–60K $75–100K $125–150K $200K+ Median $85,820 (New York) 17.3%
Show the data table
RangeNew YorkU.S.
Less than $10,0006.2%5.1%
$10,000–$14,9993.8%3.3%
$15,000–$19,9992.9%2.8%
$20,000–$24,9993.3%3.2%
$25,000–$29,9992.8%3%
$30,000–$34,9993.1%3.3%
$35,000–$39,9992.8%3.2%
$40,000–$44,9993.2%3.5%
$45,000–$49,9992.8%3.2%
$50,000–$59,9995.8%6.4%
$60,000–$74,9998%9.2%
$75,000–$99,99911.5%12.6%
$100,000–$124,9999.6%10.4%
$125,000–$149,9997.1%7.4%
$150,000–$199,9999.9%9.7%
$200,000 or more17.3%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 U.S.
Median household income (yearly) $85,820$81,604
Median home value $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, New York scored 107.9 for all items. The highest category is utilities at 134.4; the lowest is other services at 104.1.

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

All items

All items New York: 107.9; U.S.: 100.0 New York 107.9 U.S. 100.0

Goods

Goods New York: 107.3; U.S.: 99.6 New York 107.3 U.S. 99.6

Housing (rents)

Housing (rents) New York: 122.2; U.S.: 100.6 New York 122.2 U.S. 100.6

Utilities

Utilities New York: 134.4; U.S.: 98.4 New York 134.4 U.S. 98.4

Other services

Other services New York: 104.1; U.S.: 100.1 New York 104.1 U.S. 100.1
Show the data table
MeasureNew YorkU.S.
All items107.9100.0
Goods107.399.6
Housing (rents)122.2100.6
Utilities134.498.4
Other services104.1100.1

Index, U.S. = 100. Bureau of Economic Analysis Regional Price Parities, 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities

Utilities and energy costs

Households in New York 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: New York vs. U.S.

Electricity price (¢/kWh)

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

Average electric bill (monthly)

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

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

Natural gas, 12-mo avg. ($/Mcf) New York: $22.25; U.S.: $19.40 New York $22.25 U.S. $19.40
Show the data table
MeasureNew YorkU.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 who commute spend an average of 33.2 minutes getting to work (U.S.: 27.2 minutes). The most common way to get to work is to drive alone (48.7% of workers); 11.8% work from home. Regular gasoline averaged $4.36 a gallon in New York in September 2026, compared with $4.36 nationally.

How workers get to work

How workers get to work New York: 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: Drove alone. New York New York · Drove alone: 48.7% 48.7% New York · Carpooled: 6.7% New York · Public transit: 24.2% 24.2% New York · Walked: 5.8% New York · Bicycle: 0.9% New York · Worked from home: 11.8% 11.8% New York · 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 YorkU.S.
Drove alone48.7%69.2%
Carpooled6.7%9.2%
Public transit24.2%3.7%
Walked5.8%2.4%
Bicycle0.9%0.5%
Worked from home11.8%13.3%
Other (taxi, motorcycle, etc.)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

Travel time to work in New York Share of workers who do not work from home in New York by range; ranges differ in width. The bottom range, less than 5 min, holds 2.5%; the top range, 90 min or more, holds 5.4%. Mean 33.2 min. The U.S. distribution is drawn as a line. 0% 5% 10% 15% Less than 5 min: 2.5% (U.S.: 2.8%) 5–9 min: 7.2% (U.S.: 9.4%) 10–14 min: 10.3% (U.S.: 13.1%) 15–19 min: 11.7% (U.S.: 15%) 20–24 min: 11.7% (U.S.: 14.1%) 25–29 min: 6% (U.S.: 7%) 30–34 min: 14.1% (U.S.: 13.7%) 35–39 min: 3.4% (U.S.: 3.4%) 40–44 min: 5.2% (U.S.: 4.1%) 45–59 min: 10.7% (U.S.: 8.3%) 60–89 min: 11.8% (U.S.: 6.3%) 90 min or more: 5.4% (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 33.2 min (New York) 14.1%
Show the data table
RangeNew YorkU.S.
Less than 5 min2.5%2.8%
5–9 min7.2%9.4%
10–14 min10.3%13.1%
15–19 min11.7%15%
20–24 min11.7%14.1%
25–29 min6%7%
30–34 min14.1%13.7%
35–39 min3.4%3.4%
40–44 min5.2%4.1%
45–59 min10.7%8.3%
60–89 min11.8%6.3%
90 min or more5.4%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

In 2022, full-time center-based care for an infant had a median price of $247 a week in the median New York county, or $12,844 over 52 weeks. That is 42% above the U.S. county median of $174. Prices are for 2022 and are not adjusted for inflation.

Weekly child care prices (2022)

Type of care New York (county median) U.S. (county median)
Center-based care, infant $247$174
Center-based care, toddler $230$153
Center-based care, preschool $200$144
Center-based care, school-age $194$120
Home-based family care, infant $190$143
Home-based family care, toddler $180$132
Home-based family care, preschool $175$131
Home-based family care, school-age $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 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?

Median rent is $1,530 for a one-bedroom and $1,634 for a two-bedroom unit, including utilities the renter pays.

How much do most renters pay in New York?

Among renter households paying cash rent, 22.4% pay less than $1,000 a month, 42.2% pay $1,000 to $1,999, and 35.3% pay $2,000 or more (Census ACS 2024).

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

To keep the median rent of $1,634 at no more than 30% of income, a household needs about $65,400 a year before taxes. This covers housing only.

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

Yes. The Bureau of Economic Analysis puts overall prices in New York at 107.9 for 2024 (U.S. = 100), 7.9% above average. Housing rents score 122.2.

How long is the average commute in New York?

33.2 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?

The median price for full-time center-based infant care was $247 a week in the median New York county in 2022, according to the Department of Labor's National Database of Childcare Prices.