Cost of Living in New York, NY
Population: 8,516,202 • 2026 Data
$79,713
Median Household Income
+3% vs national
$1,779
Median Monthly Rent
+32% vs national
$751,700
Median Home Value
+122% vs national
7.7%
Unemployment Rate
Housing in New York
The median home value in New York, NY is $751,700. Monthly rent for a typical unit averages $1,779, while total monthly housing costs (including utilities and insurance) average $1,837.
Rent-to-income ratio: 26.8%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in New York, NY is $79,713. The unemployment rate stands at 7.7%, with a labor force of 4,412,075 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.