Cost of Living in New York City
Overall index: 187.2 — 61 points above New York average. New York statewide average: 125.8.
Where your money goes in New York City
Estimated spending breakdown on a $75,000 salary in New York City
Estimated annual spending: $133,039($58,039 over budget)
What things cost in New York City
| Item | New York City | New York avg | US avg |
|---|---|---|---|
| Median home price | $780,000 | $450,000 | $360,000 |
| Average 2BR rent | $3,450/mo | $2,446/mo | $1,400/mo |
| Gas (regular) | $3.65/gal | $3.47/gal | $3.50/gal |
| Electric bill | $174/mo | $174/mo | $137/mo |
| Infant childcare | $24,500/yr | $17,361/yr | $13,500/yr |
Index by category
New York City vs New York statewide. National average = 100.
FAQ
What is the cost of living in New York City?
New York City has an overall cost-of-living index of 187.2 (national average = 100). This is higher than the New York statewide average of 125.8. Median home prices are $780,000 and average 2BR rent is $3,450/month.
Is New York City expensive to live in?
Yes, New York City is more expensive than the national average with an index of 187.2. Housing is the biggest factor at 352% of the national average.
How much does rent cost in New York City?
Average 2-bedroom rent in New York City is $3,450/month, compared to the national average of $1,400/month and the New York statewide average of $2,446/month.
What salary do I need to live in New York City?
A $75,000 salary at the national average cost of living is equivalent to $140,400 in New York City. You'll need a higher income to maintain the same standard of living.
Where does this data come from?
Metro-level data combines BEA Regional Price Parities (2024), C2ER COLI metro indices (2025), Zillow ZHVI/ZORI metro data (2024-2025), and state-level data from MERIC, AAA, EIA, and Child Care Aware.
Related tools
- New York Cost of Living — Statewide averages and all metro areas
- New York Paycheck Calculator — Calculate take-home pay
- House Affordability in New York — How much house can you afford?
- Compare any two states
Metro-level data from BEA Regional Price Parities (2024), C2ER COLI (2025), and Zillow ZHVI (2024-2025). Where metro data is unavailable, New York statewide averages are used.