Skyline of New York City
Cost of Living: 187.2 8,335,897

New York City, NY, US

The global capital of finance, culture, and opportunity — but it comes with the highest cost of living in the US.

Updated August 11, 2026
Cost of Living 187.2

Very High vs US Avg (100)

Housing Index 294.7

Very Expensive

Median Income $74,000

Household income

Unemployment 4.2%

Job market health

New York City vs US Average

Cost of Living
New York City: 187.2
US Avg: 100
Housing Index
New York City: 294.7
US Avg: 100
State Income Tax
New York City: 6.85%
US Avg: ~5%

Taxes

  • State Income Tax: 6.8%
  • Sales Tax: 8.9%

Economy & Jobs

  • Median Income: $74,000
  • Unemployment: 4.2%
  • Population: 8,335,897

Climate

  • Sunny Days: 234/year
  • Summer High: 84°F
  • Winter Low: 26°F
  • Farming Zone: USDA Zone 5b

Housing

  • Median Home: $750,000
  • 1BR Rent: $3800/mo

Cost of Living

New York City's cost of living index is 187.2 (US average = 100).

CategoryNew York CityNational AverageDifference
Overall187.2100+87.2%
Housing294.7100+194.7%

Data source: Council for Community and Economic Research (C2ER), 2026

Housing Market

MetricValue
Median Home Price$750,000
Median Rent (1BR)$3800/mo
Median Rent (2BR)$4,750/mo
Price per Sq Ft$500

Data source: Zillow Research, 2026

True Cost of Home Ownership

True Cost of Home Ownership

See what you'll really pay over 30 years

$
%
$90,000 down
%
%
$

Utilities

Estimated monthly utility costs for a typical household in New York City:

UtilityEstimated Monthly CostNotes
Electricity$230Based on ~900 kWh/month typical US household usage
Heating & Cooling$92Estimated based on local climate. Gas or electric
Cooling (AC)N/AEstimated based on local climate and electricity rates
Water$85Includes sewer
Internet (100+ Mbps)$60Broadband average
Garbage / TrashIncluded in taxesMunicipal service (covered by property taxes)
Total Utilities$467Monthly estimate (including heating & cooling)

Data sources: U.S. Energy Information Administration (EIA) 2024, EPA/AWWA water rate surveys, BroadbandNow

Remote Work Score

New York City scores —/100 for remote work readiness:

Cost of Living
— 187.2
Rent
— $3800
Sunny Days
— 234
Tax
— 6.85%
Unemployment
— 4.2%
Climate
— 84°F / 26°F
Safety
— 3.9 homicides/100k
Population
— 8,335,897
Internet Speed
— 200 Mbps

Climate

New York City has a varied climate with distinct seasons.

MonthAvg HighAvg LowRainfall
January46°F26°F2.5"
April69°F41°F2.8"
July84°F59°F1.5"
October64°F44°F2.2"
USDA Zone 5b

Cool — many vegetables, some fruit trees

Natural Hazards

New York City faces the following natural hazards:

Flood High Risk

Coastal and river flooding.

Blizzard High Risk

Lake-effect snow and blizzards.

Hurricane Moderate Risk

Coastal areas affected by hurricanes.

Tornado Moderate Risk

Tornado risk.

Avalanche Moderate Risk

Adirondacks with avalanches.

Based on historical records and geographic risk assessment.

Taxes

  • State Income Tax: 6.85%
  • Sales Tax: 8.875%
  • Property Tax: ~0.98% of assessed value

Economy & Jobs

Major industries include technology, healthcare, education, and manufacturing. The unemployment rate is 4.2%.

Crime & Safety

Crime rates in New York City per 100,000 residents:

671.0
Violent Crime
2,368.3
Property Crime
3.9
Homicide

Data source: FBI Uniform Crime Reporting

Schools & Education

50/100
School Quality Score
Better than 53% of US cities
?
349
Total Schools
8.5:1
Student:Teacher
97.5%
Free/Reduced Lunch

Data source: National Center for Education Statistics (NCES)

Universities & Higher Education

1
Universities
#1938
Top University Rank

Data source: Center for World University Rankings (CWUR) & World Universities Database

Important Disclaimer: All data on this page is for informational purposes only and does not constitute financial, legal, tax, or real estate advice. URCity and Northshore Press are not financial advisors, tax professionals, or real estate agents. Always consult qualified professionals before making relocation or financial decisions.

Frequently Asked Questions

What is the cost of living in New York City, NY, US?

The cost of living index in New York City is 187.2, which is Higher the US national average of 100.

How much does it cost to buy a home in New York City?

The median home price in New York City is $750,000. The housing index is 294.7.

What is the average rent for a 1-bedroom apartment?

The average rent for a 1-bedroom apartment in New York City is approximately $3800/mo.

Does New York City, NY have income tax?

New York City is in NY, which has an income tax rate of 6.85%.

What is the climate like in New York City?

New York City enjoys approximately 234 sunny days per year. Summer highs reach around 84°F, while winter lows can drop to around 26°F.

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Data Sources

  • Cost of Living: Council for Community and Economic Research (C2ER), 2026
  • Housing Data: Zillow Research, 2026
  • Income & Employment: US Census Bureau American Community Survey, 2024
  • Utilities U.S. Energy Information Administration (EIA) 2024, EPA/AWWA water rate surveys, BroadbandNow

Data last updated: August 12, 2026. Data may not reflect current market conditions. Always verify with local sources before making relocation decisions.