New York County · New York
New York City cost of living (NY)
Price levels published by the Bureau of Economic Analysis for New York-Newark-Jersey City, NY-NJ, with the national average set to 100 — so 108 means things cost 8% more here than the US average.
Quick answer
New York City costs 12.6% above the national average — all-items price level 112.6, rank 7 of 94 covered metros. A $100,000 national-average salary needs to be $112,563 here. Housing is the reason, at 148.6.
- All items
- 112.6US average = 100
- Housing
- 148.648.6% above the national average
- Goods
- 110.310.3% above the national average
- Other services
- 105.85.8% above the national average
Price level by component
Where the difference actually comes from.
| Component | Index | vs US | What it covers |
|---|---|---|---|
| Goods | 110.3 | +10.3% | Groceries, fuel, clothing, durable purchases. |
| Housing | 148.6 | +48.6% | Rents and imputed rents — the biggest single swing factor. |
| Utilities | 127.0 | +27.0% | Electricity, gas, water and other household energy. |
| Other services | 105.8 | +5.8% | Healthcare, dining, repairs, personal services. |
Reading the New York City price level
What the 112.6 figure actually means for a household here.
New York City prices sit 12.6% above the US average — an all-items parity of 112.6, rank 7 of 94 covered metros. That is expensive. The median covered metro reads 100.8.
Housing drives it: 148.6, 48.6% above average. Other services pull the other way at 105.8. The spread between the cheapest and dearest component is 42.8 points, so the headline number hides real variation — a renter and an owner in New York City do not face the same cost gap versus the rest of the country.
A $100,000 national-average salary needs to be $112,563 here to buy the same basket. Run it the other way: the $79,713 median household income in New York City is worth $70,816 in national-average dollars, 9.8% below the $78,538 US median. Local pay does not cover the local price level.
Parities are published for New York-Newark-Jersey City, NY-NJ as a whole. Neighbourhood prices inside that metro diverge widely, and BEA revises the series annually.
What your salary is worth in New York City, NY
Enter a salary. We deflate it by the local price level (112.6 where 100 is the US average) and show what you would need to earn here to match the same pay somewhere average.
- Real value here
- $70,816
- Needed to match US average
- $89,727
- Monthly difference
- $835
What a local paycheck is really worth
Nominal pay is only half the story.
$79,713 median household income in New York City is worth $70,816 in national-average dollars. BEA calls that real income: income × 100 ÷ 112.6.
Frequently asked questions
Common questions about this area.
- Is New York City expensive?
- Yes — 12.6% above the US average, rank 7 of 94 covered metros. housing is the component furthest from average at 148.6.
- What salary do you need to live in New York City, NY?
- $112,563 to match a $100,000 national-average salary. The local median household earns $79,713, worth $70,816 after adjusting for the 112.6 price level.
- Why is the cost of living high in New York City?
- Housing at 148.6 versus other services at 105.8. A 42.8-point spread between components means one category, not general inflation, sets the headline figure.
More New York City data
Other New York City datasets on this site.
- New York City population and income
- New York City sales tax rate
- New York City property tax
- New York City home values and rent
- New York City crime rates
- New York City public schools
- New York City weather normals
- New York City commute times
- New York City jobs and wages
Statewide: New York cities · New York ZIP codes · New York sales tax · New York counties
2024 BEA Regional Price Parities, published for New York-Newark-Jersey City, NY-NJ. Parities are metro-wide, so a single neighbourhood can sit well above or below these figures.