Cost of Living in Richmond County, New York

$1,689/mo

Median Monthly Rent

$658,500

Median Home Value

49% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,689/mo

49% above state average

Median Home Value

$658,500

134% above national

Rent-to-Income Ratio

33.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Richmond County Compares

Median monthly rent comparison

Richmond County$1,689/mo

New York Average$1,133/mo

National Median$1,163/mo

Detailed Housing Stats

$1,689/mo

Median Gross Rent

$658,500

Median Home Value

$2,255/mo

Monthly Owner Cost

33.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Richmond County, New York

Richmond balances high income with housing costs

Richmond County residents spend 20.6% of their $98,290 median income on rent—above the national norm but reasonable given one of New York's highest regional incomes. Rents averaging $1,689 monthly are nearly 23% above national medians, but the county's strong income base absorbs the costs more comfortably than most areas.

Richmond ranks middle of New York's pack

At 20.6%, Richmond's rent-to-income ratio exceeds New York State's 17.6% average by roughly 3 percentage points, placing it in the less affordable half statewide. The county's median rent of $1,689 is 49% above the state average of $1,133, reflecting its Staten Island position in the New York metro housing market.

Richmond less affordable than nearby Saratoga

Richmond residents allocate 20.6% of income to rent compared to just 16.2% in nearby Saratoga County, despite Richmond's higher median income of $98,290 versus Saratoga's $99,653. However, Richmond's median home value of $658,500 reflects its suburban New York City positioning versus Saratoga's upstate location.

Homeownership carries steeper costs than renting

Richmond renters pay $1,689 monthly (20.6% of income), while homeowners face $2,255 in monthly costs (27.5% of income) with median homes valued at $658,500. This significant gap makes Richmond more accessible for renters but increasingly expensive for prospective home buyers.

Rent-friendly if buying remains out of reach

Richmond offers better renting value than Queens at 7 percentage points lower rent-to-income ratio, but home buyers should budget carefully for $2,255 monthly costs. Consider Rockland County (19.8% rent ratio, $564,200 homes) or Saratoga (16.2% rent ratio, $324,800 homes) if home ownership is your priority.

Affordability Calculator

See how your income compares to housing costs in Richmond County

Your Annual Household Income

Rent Burden

20.6%

of gross income

Max Housing (28% Rule)

$2,293

per month

Owner Cost Burden

27.5%

of gross income

The median home in Richmond County may be a stretch

Median home value is $658,500. Estimated monthly cost: $5,257 vs. your max of $2,293.

Rent Affordability Guide

Your rent-to-income ratio20.6%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Richmond County, New York?

Richmond County, New York has a median monthly rent of $1,689/mo and a median home value of $658,500. The affordability rating is Unaffordable, with rent making up approximately 33.0% of median household income.

What is the median rent in Richmond County?

The median gross rent in Richmond County is $1,689/mo. This is 49% above state average for New York.

Is Richmond County affordable?

Richmond County is rated Unaffordable based on rent-to-income ratio of 33.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Richmond County's rent compare to the state average?

Richmond County's median rent of $1,689/mo is 49% above state average of $1,133/mo for New York.

What is the median home value in Richmond County?

The median home value in Richmond County, New York is $658,500. This is 134% above the national median home value of $281,900.