Cost of living in New York, NY-NJ
20,112,448 people (Census 2025 estimate). Overall prices are 12.6% above the US average, with housing at 148.6 on BEA’s index (US = 100). A single renter on $60,000 keeps −$695 a month after 2026 taxes and modeled costs.
Typical household budgets in New York, NY-NJ
Computed by MoveMath’s engine with 2026 tax law, HUD Fair Market Rent for the bedrooms each household needs, DOL 2022 childcare prices for Kings County, NY in current dollars, USDA Moderate-Cost food, one car per adult and $1,000 a month of other spending at US-average prices scaled by local price levels.
| Per month | Single, $60k | Couple + toddler, $110k | Family of four, $99,155 |
|---|---|---|---|
| Gross income | $5,000 | $9,167 | $8,263 |
| Taxes | $1,203 | $1,973 | $1,515 |
| Take-home pay | $3,797 | $7,194 | $6,747 |
| Housing | $2,729 | $2,971 | $2,971 |
| Childcare | $0 | $1,467 | $2,564 |
| Food | $486 | $1,090 | $1,414 |
| Transportation | $175 | $350 | $350 |
| Sales tax | $22 | $22 | $22 |
| Other goods & services | $1,080 | $1,080 | $1,080 |
| Left over | −$695 | $213 | −$1,654 |
Family of four = two adults, a preschooler and a school-age child at the metro’s median household income ($99,155). Click a column to open it in the budget planner and change any input.
Price levels: New York, NY-NJ vs New York and the US
BEA Regional Price Parities, 2024. 100 = US average; bars compare the metro (dark) with New York statewide (light).
Within New York, New York, NY-NJ ranks 1st of 13 metros on overall prices; the state as a whole is at 107.9. The dashed line marks the US average.
Rent and homeownership
| Unit | HUD Fair Market Rent | Income needed at 30% | Share of median income |
|---|---|---|---|
| Studio | $2,593 | $103,720 | 31.4% |
| 1-bedroom | $2,729 | $109,160 | 33.0% |
| 2-bedroom | $2,971 | $118,840 | 36.0% |
| 3-bedroom | $3,760 | $150,400 | 45.5% |
| 4-bedroom | $4,121 | $164,840 | 49.9% |
FY2027 FMRs for New York, NY HUD Metro FMR Area: 40th-percentile gross rent (rent + tenant-paid utilities) for standard-quality units. Census median gross rent, all unit sizes: $1,830 (ACS 2020-2024).
The Census reports this metro’s median real estate tax only as “$10,000 or more” (top-coded), so a metro-wide effective rate can only be bounded (at least 1.63% of the $614,200 median value). Owner budgets therefore use the effective rate for Kings County, NY (principal county), 0.71% — the county already used for rent, childcare and local tax. Renters’ budgets do not use it.
Childcare prices in Kings County, NY
| Age band | Center, weekly (2022) | Center, yearly today* | Home-based, weekly (2022) | Home-based, yearly today* |
|---|---|---|---|---|
| Infant (under 2) | $300 | $19,069 | $250 | $15,891 |
| Toddler (2) | $277 | $17,607 | $220 | $13,984 |
| Preschool (3–4) | $259 | $16,463 | $200 | $12,713 |
| School-age (5–12) | $225 | $14,302 | $190 | $12,077 |
DOL National Database of Childcare Prices, 2022 county medians for full-time care in Kings County, NY (the metro’s principal county). *52 weeks × 1.2224, the BLS CPI change for day care and preschool from the 2022 average to 2026-08.
Taxes: what you keep in New York
| Single filer, 2026 | $50,000 | $75,000 | $120,000 |
|---|---|---|---|
| Federal income tax | $3,820 | $7,670 | $17,570 |
| Social Security + Medicare | $3,825 | $5,738 | $9,180 |
| New York income tax | $2,103 | $3,453 | $6,180 |
| New York payroll taxes | $247 | $355 | $443 |
| Local income tax (New York City) | $1,508 | $2,472 | $4,216 |
| Take-home pay / month | $3,208 | $4,609 | $6,868 |
| Share of pay to taxes | 23.0% | 26.3% | 31.3% |
Mandatory local income tax for residents of New York City. State sales tax: 4% (state rate only; local rates add on), groceries exempt.
Calculate take-home pay for your household in New York, NY-NJ
Energy and fuel
EIA: electricity 2025, natural gas 2024, gasoline week ending 2026-10-05. Renters’ utilities are already inside gross rent.
Nearby metros
| Metro | Distance | Price level | 2-BR FMR | Single $60k left over |
|---|---|---|---|---|
| New York, NY-NJ | — | 112.6 | $2,971 | −$695 |
| Kiryas Joel, NY · compare | 48 mi | 109.4 | $2,131 | $529 (+$1,224) |
| Trenton, NJ · compare | 53 mi | 103.2 | $2,242 | $615 (+$1,311) |
| Bridgeport, CT · compare | 53 mi | 106.9 | $2,399 | $277 (+$972) |
| New Haven, CT · compare | 69 mi | 104.6 | $2,091 | $605 (+$1,300) |
| Philadelphia, PA-NJ-DE-MD · compare | 77 mi | 102.6 | $1,860 | $668 (+$1,363) |
| Waterbury, CT · compare | 78 mi | 99.8 | $1,745 | $1,012 (+$1,707) |
Common moves to and from New York, NY-NJ
Census ACS metro-to-metro migration flows (ACS 5-year 2016-2020), people who moved in a year.
- Philadelphia, PA-NJ-DE-MD35,254
- Miami, FL22,411
- Washington, DC-VA-MD-WV17,558
- Los Angeles, CA17,107
- Bridgeport, CT16,709
- Kiryas Joel, NY15,475
- Boston, MA-NH15,162
- Atlanta, GA12,928
- Philadelphia, PA-NJ-DE-MD19,600
- Washington, DC-VA-MD-WV11,162
- Boston, MA-NH10,019
- Los Angeles, CA9,761
- Kiryas Joel, NY9,492
- Miami, FL8,085
- Bridgeport, CT7,534
- Trenton, NJ7,208
Frequently asked questions
Is New York, NY-NJ expensive to live in?+
BEA’s Regional Price Parities put overall prices in the New York, NY-NJ metro at 112.6 (US = 100) in 2024 — 12.6% above the national average and the 4th highest of 387 metros. Housing is 148.6, goods 110.3.
What salary do you need to live in New York, NY-NJ?+
A single renter earning $60,000 keeps $3,797 a month after 2026 taxes and has −$695 left after rent at HUD Fair Market Rent, food, fuel, sales tax and other modeled costs. Use the cost of living calculator to find the salary that matches your current budget.
How much is rent in New York, NY-NJ?+
HUD’s FY2027 Fair Market Rent — the 40th-percentile gross rent including utilities — is $2,729 for a 1-bedroom and $2,971 for a 2-bedroom. The Census median gross rent for all units is $1,830.
Does New York have a local income tax?+
Mandatory local income tax for residents of New York City. On $75,000 a single filer would owe about $2,472 a year in local tax under our 2026 data.