What is the cost of living in New York, NY?
According to the most recent data on the cost of living, New York has an overall cost of living index of 180, which is 1.8x higher than the national index of 100.
Compared to New York, New York has a cost of living index that's 1.5x higher than New York's index of 121.
The standard of living in New York ranks as #309 most affordable out of the 336 places we measured in New York. By definition, that implies New York ranks as the #27 most expensive place in the Empire State.
For more reading on life in New York, check out:
New York Cost Of Living Vs. New York
Six factors go into calculating the cost of living index in New York. Here is how it fares on each of the criteria:
The Services index in New York is 119.
The Groceries index in New York is 124.
The Health index in New York is 298.
The Housing index in New York is 134.
The Transportation index in New York is 119.
The Utilities index in New York is 134.
| Living Expense | New York | New York | National Average |
|---|---|---|---|
| Overall | 180 | 121 | 100 |
| Services | 119 | 105 | 100 |
| Groceries | 124 | 108 | 100 |
| Health | 298 | 143 | 100 |
| Housing | 134 | 112 | 100 |
| Transportation | 119 | 114 | 100 |
| Utilities | 134 | 111 | 100 |
New York Cost Of Living Compared To New York Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around New York, check out:
Protect your home budget Compare home warranties in New York Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
New York, NY Housing Cost Breakdown
Housing swings affordability the most between places in New York, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in New York is $812,861.
The Median Rent in New York is $1,821.
The Median Income in New York is $80,483.
The Home Value To Income in New York is 10.1x.
The Rent To Monthly Income in New York is 0.27x.
New York, NY Costs By Category
Detailed New York Services costs vs. New York
Detailed New York Groceries costs vs. New York
Detailed New York Health costs vs. New York
Detailed New York Transportation costs vs. New York
New York SnackAbility
Cost Of Living In Cities Around New York
The cost of living varies in the cities and towns around New York. Here's a quick look at the cost of living in the most populous nearby places:
Hoboken, NJ has a cost of living index of 191, 1.1x New York.
West New York, NJ has a cost of living index of 130, 0.7x New York.
Cliffside Park, NJ has a cost of living index of 145, 0.8x New York.
| City | Population | Cost Of Living | Vs. New York |
|---|---|---|---|
| Hoboken, NJ | 58,668 | 191 | 1.1x |
| West New York, NJ | 52,004 | 130 | 0.7x |
| Cliffside Park, NJ | 25,781 | 145 | 0.8x |
| Secaucus, NJ | 21,778 | 154 | 0.9x |
| Woodmere, NY | 18,061 | 186 | 1.0x |
| Port Washington, NY | 18,004 | 196 | 1.1x |
| Edgewater, NJ | 14,759 | 174 | 1.0x |
| North New Hyde Park, NY | 14,159 | 169 | 0.9x |
| North Merrick, NY | 12,366 | 161 | 0.9x |
| Inwood, NY | 12,235 | 147 | 0.8x |
