City profile
New York, NY cost of living
NY · BEA RPP 112.563
Latest official changes
Updates affecting New York, NY
City metrics retain the historical BEA 2024 and HUD FY2027 benchmarks. Change-log entries are dated source notices and do not automatically update those values.
2024 overall RPP
112.563
US = 100
2024 housing-rent RPP
148.616
Housing component
2024 goods RPP
110.261
Goods component
2-BR FMR (HUD)
$2,971/mo
FY2027 FMR
Where New York, NY sits in the verified metro set
RPP rank
#5 of 67
+12.6 vs U.S. average
Vs median metro
+13.1
median RPP 99.5
2-BR rent rank
#4 of 67
+1,282/mo vs median verified metro
RPP ranks use only verified ReloMath metro records. Sources: BEA MARPP 2024 (all items, housing, goods, other services); HUD FY2027 2-bedroom Fair Market Rent; reviewed 2026-10-04. These are historical area benchmarks, not current neighborhood prices. HUD FMR is a 40th-percentile gross-rent benchmark, not median rent. BEA metro and HUD rent-area boundaries can differ. BEA: New York-Newark-Jersey City, NY-NJ (Metropolitan Statistical Area) (code 35620). HUD: New York, NY HUD Metro FMR Area (code METRO35620MM5600); counties or county equivalents: Bronx County, Kings County, New York County, Putnam County, Queens County, Richmond County, Rockland County, Westchester County. The official files were retrieved 2026-10-04.
Who’s moving in and out of New York, NY
IRS tax-return migration · 2022-2023Cost of living is only half the relocation question. The other half is which way people are actually voting with their feet, straight from IRS tax-return migration for the New York, NY metro.
Moved in
181,995
people · 136,607 households
Moved out
335,060
people · 206,380 households
Net
−153,065
net loss of residents
Net migration rank
#65 of 65
among IRS-covered ReloMath metros
Vs median net flow
-153,436
median +371 people
Largest flow share
5% in / 3% out
top named county shares
Where new residents came from
- Los Angeles County, CA 8,295
- Western Connecticut Planning Regi, CT 6,169
- Mercer County, NJ 5,367
- Philadelphia County, PA 4,969
- Cook County, IL 4,913
Where residents moved to
- Palm Beach County, FL 10,995
- Western Connecticut Planning Regi, CT 10,905
- Los Angeles County, CA 10,054
- Orange County, NY 8,580
- Miami-Dade County, FL 8,191
Counts are IRS tax filers (returns ≈ households, individuals ≈ exemptions) who changed address between 2022-2023. Flows too small for IRS to disclose are grouped and excluded from the named lists. Source: IRS SOI county-to-county migration data ↗, mapped to metros via the U.S. Census CBSA delineation.
What salary do you need in New York, NY?
Historical BEA 2024 salary illustration relative to the U.S. average (RPP 100), before tax and household adjustments. Housing is already included in overall RPP.
| In US-average city | You need in New York, NY | Formula |
|---|---|---|
| $50,000 | $56,282 | $50,000 x (112.563/100) |
| $75,000 | $84,422 | $75,000 x (112.563/100) |
| $100,000 | $112,563 | $100,000 x (112.563/100) |
| $125,000 | $140,704 | $125,000 x (112.563/100) |
| $150,000 | $168,845 | $150,000 x (112.563/100) |
| $200,000 | $225,126 | $200,000 x (112.563/100) |
Salary illustrations use BEA 2024 overall Regional Price Parities (RPP) only, before tax and household-specific adjustments. Overall RPP already includes housing. HUD FY2027 2-bedroom Fair Market Rent is a separate historical gross-rent benchmark, not a current lease or median rent. Do not add rent to the RPP salary figure. Your lease and moving quote belong in a separate budget. Not financial advice.
Step 2: what will the move itself cost?
The historical salary illustration is separate from moving payments. Use an actual mover quote and lease terms in your budget summary.
State income tax note
Income tax and payroll deductions are not calculated. Obtain take-home estimates for your actual work and home addresses.
Frequently asked questions
- What is the cost of living in New York, NY?
- In the historical BEA 2024 benchmark, New York, NY has an overall Regional Price Parity of 112.563 (US average = 100). Its overall price level is 12.6% higher than the national average for that year.
- What salary do I need to live in New York, NY?
- If you earn $100,000 in a US-average city (RPP 100), the BEA 2024 RPP illustration is approximately $112,563 in New York, NY, before tax and household adjustments.
- What historical rent benchmark is shown for New York, NY?
- The historical HUD Fair Market Rent benchmark for a 2-bedroom associated with New York, NY is $2,971 per month as of FY2027.
- Are people moving to or away from New York, NY?
- Based on IRS tax-return migration data for 2022-2023, about 181,995 people moved into the New York, NY metro and 335,060 moved out — a net loss of roughly 153,065 residents. The largest single source of new residents was Los Angeles County, CA.
Curated nearby & similar cities
Similar verified metros by RPP
These links are chosen by data proximity: closest overall RPP to New York, NY, with HUD 2-BR rent as a tie-breaker.
Curated cost-of-living comparisons for New York, NY
Side-by-side cost of living and the equivalent salary you'd need — pick a destination.
Check published data changes
Review dated source notices for tracked metros alongside New York, NY's historical benchmarks. Change-log entries do not automatically refresh the BEA 2024 or HUD FY2027 values shown here.
View cost-of-living change log