Cost of Living in New York County, New York
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How New York County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
New York County ranks #3,130 of 3,142 counties for affordability (bottom 1%)
Sourced county brief
New York County Median Home Value Exceeds One Million Dollars
In New York County, the median home value was estimated at $1,090,500, which is significantly higher than the state unweighted county mean of $281,200. The median monthly owner cost was $2,886, compared to the state unweighted county mean of $1,352. For renter-occupied units, the median gross rent was $2,197 per month, exceeding the state unweighted county mean of $1,168. The official GRAPI was 29.1%, which is 0.7 percentage points below the New York unweighted county mean official GRAPI of 29.8%. The median renter-household income was $84,783. The 29.1% figure serves as the official ACS B25071 GRAPI for the county. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: New York County
Affordability Verdict
ACS B25071 estimates median gross rent at 29.1% of renter household income in New York County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $2,197 per month; median selected monthly owner costs are $2,886. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $87,880 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The New York unweighted mean of county median rents is $1,168 per month. New York County's $2,197 median is 88.0% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in New York County
Rent Burden
25.4%
of gross income
Max Housing (28% Rule)
$2,425
per month
Owner Cost Burden
33.3%
of gross income
The median home in New York County may be a stretch
Median home value is $1,090,500. Estimated monthly cost: $8,706 vs. your max of $2,425.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
What is the cost of living in New York County, New York?
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How does New York County's rent compare to the state average?
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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