Overall 60%
Goods & Services 33%
Housing 134%
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The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
IndexNew YorkNew YorkNational
Cost of living160119100
Goods & Services133110100
Health care109101100

Key findings

  • The cost of living in New York is 34% higher than the New York average
  • The cost of living in New York is 60% higher than the national average
  • New York housing is 134% higher than the national average
  • New York general sales tax is 21% lower than the national average
  • New York state income tax is 62% higher than the national average

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Compare New York, NY Cost of Living

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in New York, NY, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In New York, homeowners have a median income of $88,737. Using that number, a maximum of $2,070 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $42,581, which means there is a maximum of $993 to be spent on the costs of renting a home or apartment.

      New York Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      New York4%8.875%

      New York Income Tax

      StateIncome Tax (Low)Income Tax (High)
      New York4%8.82%

      Goods & Services

      ItemNew YorkNational avg.Difference
      Haircut $27.40$20.2735.2%
      Beauty Salon $59.74$40.3947.9%
      Toothpaste $4.12$2.3674.8%
      Shampoo $1.77$1.0864.1%
      Movie $17.84$10.9962.4%
      Bowling $22.97$15.4948.3%


      ItemNew YorkNational avg.Difference
      Ground Beef $4.90$4.3014.1%
      Fried Chicken $2.31$1.4064.8%
      Milk $2.84$2.2028.9%
      Potatoes $3.99$3.2223.9%
      Pizza $12.14$10.7413.1%
      Beer $12.92$9.6034.6%

      Health Care

      ItemNew YorkNational avg.Difference
      Optometrist $108.08$109.731.5%
      Doctor $106.72$118.349.8%
      Dentist $124.43$100.9423.3%
      Ibuprofen $13.51$9.9336.0%
      Lipitor $442.91$469.535.7%


      ItemNew YorkNational avg.Difference
      Home Price $508,900.00$184,700.00175.5%
      Avg. Mortgage Payment $7,607.41$1,229.62518.7%
      Apartment Rent $1,294.00$949.0036.4%


      ItemNew YorkNational avg.Difference
      Gasoline $3.02$2.7111.5%
      Tire Balancing $80.22$51.8654.7%


      ItemNew YorkNational avg.Difference
      All Electricity$174.72$170.842.3%
      Phone $192.91$187.183.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      CityPopulationCost of Living IndexNational Avg.
      East Orange, NJ64,6211109.7%
      Roselle, NJ21,50711010.0%
      Newark, NJ280,13911111.0%
      Silver Lake, NJ4,00711312.8%
      Paterson, NJ146,89411413.9%
      New York, NY8,461,96116060.2%

      Cities with similar population

      CityPopulationCost of Living IndexNational Avg.
      Los Angeles, CA3,918,87214848.5%
      Toronto, ON3,013,752n/a 
      Chicago, IL2,714,01711110.8%
      New York, NY8,461,96116060.2%
      Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.