New York is one of the most expensive cities in the world, but the numbers vary enormously depending on where you live, whether you drive, and whether you have kids in childcare. Use the calculator to build your own monthly budget. The sections below break down each major cost.
Monthly cost of living in NYC by household (2026)
| Household | Modest budget | Comfortable budget | Pre-tax income needed |
|---|---|---|---|
| Single, 1BR (outer borough) | $4,300 | $5,600 | $75,000–$95,000 |
| Single, 1BR (Manhattan) | $5,400 | $7,000 | $95,000–$120,000 |
| Couple, 1–2BR | $6,500 | $8,800 | $110,000–$150,000 |
| Family of 4, 2–3BR, one child in daycare | $10,000 | $14,000 | $170,000–$240,000 |
Rent by borough
| Borough | Studio | 1 bedroom | 2 bedrooms | Median (all) |
|---|---|---|---|---|
| Manhattan | $3,500 | $4,400 | $5,900 | $5,117 |
| Brooklyn | $2,900 | $3,500 | $4,300 | $4,054 |
| Queens | $2,500 | $3,000 | $3,700 | $3,561 |
| The Bronx | $2,000 | $2,500 | $3,000 | $3,171 |
| Staten Island | $1,800 | $2,200 | $2,800 | n/a |
Most landlords want an annual income of 40 times the monthly rent, or a guarantor earning 80 times. Since the FARE Act took effect in 2025, tenants no longer pay broker fees for listings posted by the landlord's agent. Security deposits are capped at one month's rent.
Everyday costs
For detailed estimates, see our NYC utilities calculator and NYC salary after-tax calculator.
| Expense | Typical monthly cost |
|---|---|
| Electricity & gas (1BR) | $120–$220 |
| Internet | $50–$90 |
| Phone | $40–$85 |
| Groceries (one adult, cooking) | $400–$550 |
| Subway & bus (OMNY cap) | ≈$150 |
| Gym | $30–$300 |
| Health insurance (employer share) | $150–$400 |
| Renter's insurance | $15–$25 |
| Laundry (if not in unit) | $40–$80 |
Families: childcare changes everything
Full-time daycare for an infant averages about $2,200 a month in NYC, and a full-time nanny costs $4,500–$6,000. The biggest relief comes at age 3: NYC's 3-K and Pre-K programs are free for all city residents. See our childcare cost guide for details.
Taxes: what your salary really buys
New York City residents pay three layers of income tax: federal, New York State (4%–10.9%) and New York City (about 3.1%–3.9%). With Social Security and Medicare, most middle-income earners keep about 67–72% of their gross pay. NYC's sales tax is 8.875%, though most groceries and clothing under $110 are exempt.
How New Yorkers keep costs down
- Live with roommates or a little further out along a fast subway line.
- Skip the car. Transit plus the occasional rideshare is far cheaper than car ownership.
- Use free city resources: libraries, parks, museum free days, Pre-K and summer programs.
- Check eligibility for Fair Fares (half-price transit) and the NYC Housing Connect affordable housing lottery.
Frequently asked questions
How much do you need to live comfortably in NYC?
A single person generally needs a pre-tax income of about $90,000–$120,000 to rent a one-bedroom alone and cover normal expenses in 2026. Many landlords also require annual income of 40 times the monthly rent, which is $140,000 for a $3,500 apartment.
What is the average rent in NYC in 2026?
Median asking rents in Q2 2026 were about $5,117 in Manhattan, $4,054 in Brooklyn, $3,561 in Queens and $3,171 in the Bronx, according to market reports.
How much are groceries in NYC per month?
A single adult who cooks most meals spends about $400–$550 a month on groceries. Eating out a few times a week pushes food spending to $700–$1,100.
How much does transportation cost in NYC?
The subway and bus fare is $3.00 in 2026, and OMNY caps spending at $35 per week, so a daily commuter pays about $150 a month. Owning a car costs $900–$1,500 a month including insurance, parking and gas.
Which NYC borough is cheapest to live in?
The Bronx and Staten Island have the lowest rents, followed by Queens. Manhattan is the most expensive, with Brooklyn close behind in popular neighborhoods.
How much are income taxes in NYC?
New York City residents pay federal income tax, New York State tax (4%–10.9%) and NYC income tax (about 3.08%–3.88%). Together with FICA, a typical earner pays roughly 28–33% of gross income.
Sources & methodology
Prices are compiled from published provider price lists, government fee schedules and quotes, then adjusted for 2026. See how we price.