Cost of living in New York City: rent, homes and salary
The cost of living in New York City comes in above the US average by 12.6%: BEA regional price parity (RPP) figures for the metro area of New York, NY in 2024 put the index at 112.6, where the US is 100, while housing alone sits at 148.6.
- Level of prices
- 112.6US = 100, BEA 2024
- Price level for housing
- 148.6. Rent prices, US = 100.
Cost of living index for New York City
A regional price parity measures what one basket of goods and services costs in a single place against the US average of 100. New York City sits inside the metro area of New York-Newark-Jersey City, NY-NJ, and BEA works out prices for that whole area together. Housing (rents) is the item furthest from the US average: 148.6, or 48.6% above the US.
| Price level, US = 100 | New York, NY metro | New York | Metro against the US |
|---|---|---|---|
| All items | 112.6 | 107.9 | +12.6% |
| Goods | 110.3 | 107.3 | +10.3% |
| Housing (rents) | 148.6 | 122.2 | +48.6% |
| Utilities | 127.0 | 134.4 | +27.0% |
| Other services | 105.8 | 104.1 | +5.8% |
Metro area and state regional price parities, 2024, come from the U.S. Bureau of Economic Analysis (BEA). BEA regional price parities
Rents in New York City
Homes listed now in New York City carry a typical asking rent of $4,089 a month, +5.2% on a year, according to ZORI, the Zillow Observed Rent Index. In the US, that asking rent is $1,932. The median gross rent from the Census counts every renting household, not only new leases: $1,811. One year of the asking rent equals 60% of the median household income.
| Rent | New York City | United States |
|---|---|---|
| Typical asking rent, Zillow ZORI | $4,089 | $1,932 |
| Asking rent, 12-month change | +5.2% | |
| Median gross rent, Census ACS 2024 | $1,811 | $1,487 |
| A year of asking rent, share of the median income | 60% | 28% |
Zillow Observed Rent Index; one-year estimates, Census Bureau American Community Survey 2024.
New York City home prices
In September 2026, the Zillow Home Value Index (ZHVI) valued a typical New York City home at $825,854, a figure for a mid-market home. That figure is up +4.3% on a year, compared with $366,157 in the US. That equals 10.2 years of median household income, compared with 4.5 for the US.
| Home prices | New York City | United States |
|---|---|---|
| Typical home value, September 2026 | $825,854 | $366,157 |
| 12-month change | +4.3% | +1.2% |
| 10-year change | +38.2% | +77.4% |
| Price to income (years of median income) | 10.2 | 4.5 |
| Price to rent (years of asking rent) | 16.8 | 15.8 |
Days on market, the forecast, and the price chart since 2000: New York City housing market.
New York City: the salary needed to live there
In New York City, the salary that buys what your current pay buys now comes down to two questions: your home area and your earnings.
- Moving away from
- Salary
See the method and all cities side by side: living costs compared by city.
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Cost of living in New York City vs other cities
| City | Level of prices | Housing | Typical rent figure | Home value, typical |
|---|---|---|---|---|
| New York City | 112.6 | 148.6 | $4,089 | $825,854 |
| Buffalo | 95.8 | 81.0 | $1,421 | $244,068 |
| Rochester, New York | 97.0 | 87.5 | $1,454 | $240,168 |
| Syracuse | 95.7 | 80.7 | $1,566 | $223,201 |
| Albany | 99.6 | 102.6 | $1,664 | $331,504 |
| Los Angeles | 113.6 | 170.4 | $2,772 | $927,891 |
| Chicago | 103.6 | 112.0 | $2,311 | $334,108 |
| Houston | 98.6 | 104.5 | $1,544 | $259,465 |
| Phoenix | 103.3 | 121.2 | $1,571 | $404,067 |
Price levels come from BEA regional price parities 2024, where the US = 100. Rent comes from Zillow ZORI. Home value is Zillow ZHVI, September 2026.
- Cost of living New York vs Chicago
- Cost of living New York vs Los Angeles
- Cost of living New York vs Boston
All cities ranked: cost of living comparison by city. Each state: living costs by state.