New York, NY cost of living
NY · BLS RPP 122.6
Overall RPP
122.6
US = 100
Housing RPP
157.3
Housing component
Goods RPP
106.2
Goods component
2-BR Rent (HUD)
$2,330/mo
FY2024 FMR
What salary do you need in New York, NY?
Equivalent salary to maintain the same purchasing power as in a US-average city (RPP 100).
| In US-average city | You need in New York, NY | Formula |
|---|---|---|
| $50,000 | $61,300 | $50,000 x (122.6/100) |
| $75,000 | $91,950 | $75,000 x (122.6/100) |
| $100,000 | $122,600 | $100,000 x (122.6/100) |
| $125,000 | $153,250 | $125,000 x (122.6/100) |
| $150,000 | $183,900 | $150,000 x (122.6/100) |
| $200,000 | $245,200 | $200,000 x (122.6/100) |
This tool provides estimates only. Equivalent-salary figures are derived from BLS Regional Price Parities (RPP) and HUD Fair Market Rents — they are averages, not guarantees. Actual cost of living varies by neighborhood, lifestyle, and individual circumstances. Not financial advice.
State income tax note
NY state income tax 4%-10.9% + NYC city tax up to 3.876% for city residents.
Frequently asked questions
- What is the cost of living in New York, NY?
- New York, NY has a BLS Regional Price Parity of 122.6 (US average = 100). It is 22.6% more expensive than the national average.
- What salary do I need to live in New York, NY?
- If you earn $100,000 in a US-average city (RPP 100), you would need approximately $122,600 in New York, NY to maintain the same purchasing power.
- What is the average rent in New York, NY?
- The HUD Fair Market Rent for a 2-bedroom in New York, NY is approximately $2,330 per month as of FY2024.
Compare with other cities
Buying a home in New York, NY? See closing costs at TallyClose.