Cost of Living in Richmond County, New York
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Richmond County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Richmond County ranks #1,890 of 3,144 counties for affordability (bottom 40%)
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.
Cost of Living Advisory: Richmond County
Affordability Verdict
Housing in Richmond County is affordable. The median rent is $1,689/month against a median household income of $98,290, putting rent at 20.6% of income.
Rent vs. Own
The median rent in Richmond County is $1,689/month, while owner costs run $2,255/month. Renting saves approximately $566/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $67,560/year. For owner costs at the 28% rule, the required income is roughly $96,643/year. With a median household income of $98,290, most households can comfortably afford rent here. Notably, 33.0% of renter households in Richmond County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within New York, Richmond County is more affordable than Orange County by roughly 5% ($1,689/mo vs $1,602/mo).
Affordability Calculator
See how your income compares to housing costs in Richmond County
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
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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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
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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