New York Cost of Living Calculator
Compare New York cost of living (index: 123.8). Calculate equivalent salary needed when moving to or from New York.
How This Calculator Works
Calculation methodology and assumptions
This calculator compares purchasing power between locations using cost of living indices. New York's cost of living index is 123.8 (100 = national average). The equivalent salary is calculated as: Current Salary × (Target COL / Current COL). Tax differences are also factored in to show the net financial impact of relocating.
Key State Information
New York cost of living index: 123.8. New York is significantly more expensive than the national average. Higher housing, transportation, and food costs drive this. Median household income: $74,314. Median 2BR rent: $1640/month.
Frequently Asked Questions
What is the cost of living in New York?
New York's cost of living index is 123.8, where 100 is the national average. This means living in New York costs about 24% more than the national average.
Is New York expensive to live in?
Yes, New York is one of the more expensive states. Housing costs are the primary driver. Median home price: $420,000.
How much do I need to earn in New York to live comfortably?
Based on a cost of living index of 123.8 and the 50-30-20 budgeting rule, a comfortable salary in New York would be approximately $81,213/year for a single person renting a 2BR apartment.
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