Cost of Living in New York, New York
New York has a population of about 8,483,844. The median household income is $80,483, median gross rent is $1,821/month, and the median home value is $777,600. These figures come from 2020-2024 ACS 5-Year estimates, the latest full-coverage Census baseline for U.S. cities.
How current is this? Census city data is released with a lag because it is survey-based and designed for consistent coverage across small and large places. Use it as an official affordability baseline; current apartment listings and mortgage rates may differ.
Is New York expensive to live in?
Compared with the national median in this dataset, rent in New York is 10% above the national median and home values are 108% above the national median. Household income here is 4% below the national median. Monthly rent represents roughly 27% of the median annual household income, a rough affordability signal for renters.
Frequently asked questions
What is the average rent in New York?
The median gross rent in New York, New York is $1,821 per month in the 2020-2024 ACS 5-Year estimates.
What is the median home price in New York?
The median owner-occupied home value in New York is $777,600 in the 2020-2024 ACS 5-Year estimates.
How much do people earn in New York?
The median household income in New York is $80,483 per year in the 2020-2024 ACS 5-Year estimates.
Data source: U.S. Census Bureau, 2020-2024 ACS 5-Year Estimates. Local database last refreshed 2026-07-11.