New York

Avg COL Index

131

vs. 100 national avg

Where the money goes

The biggest cost pressure in New York is electricity, at 55% above the national average. The biggest break is rent, at 16% below it.

Rent trend

Rent rose an average of 4.7% over the past year across the 18 cities we track, faster than the 2.7% national change. Elmira saw the biggest move (up 9.6%), while Olean was up just 0.0%.

City to city

Where you live inside New York matters. Typical rent runs from $1,001 in Olean to $3,546 in New York, a gap of $2,545 a month or about $30,540 a year.

Affordability

Rent, gas, groceries, electricity and car insurance take about 43% of median household income in the counties we track, which ranks near the middle of 51 states. Median household income there averages $81,988 (Census ACS 2023). Groceries are counted at what the average household in the region spends on food at home (BLS Consumer Expenditure Survey).

Energy and driving

Regular gas costs $4.23 a gallon, 6% above the $3.98 national average. A typical electric bill runs about $258 a month versus $166 nationally, and full coverage car insurance averages $2,980 a year versus $2,150.

Groceries

Grocery prices in the Northeast rose 1.6% over the past year (BLS food at home), compared with 1.8% nationally. Item prices on our city pages are national BLS averages, so local stores may be higher or lower.