New York's cost of living index is 139 — 39.0% above the US average of 100. Compare purchasing power and equivalent salaries across states.
CoL Index
139
US avg = 100
vs. National Avg
+39.0%
More expensive
Median Income
$72,108
New York median household
Equiv. at US Avg
$51,876
Same purchasing power
| CoL Index | 139 | MIT/MERIC composite index (US avg = 100) |
| vs. National | +39.0% | Above average cost |
| Median Household Income | $72,108 | New York median (2023 ACS) |
| National Purchasing Power | $51,876 | Equivalent $ at US avg CoL |
| Overall Category | Very High | Qualitative classification |
| Population | 20,201,249 | 2020 US Census |
With a cost of living index of 139, New York is 39% above the national average. Higher costs in New York mean your dollar stretches less far than in most states. A salary of $72,108 in New York provides the equivalent purchasing power of $51,876 in a state with average cost of living.
Housing is typically the largest driver of cost of living differences between states.New York's median home price of $470,000 is significantly above the national median of approximately $310,000. Other factors include state income tax (10.9% top rate in New York), sales tax (4.00% state rate), and local property tax rates (1.72%).
