Net Worth Percentile in New York City

Your national net worth ranking uses Federal Reserve SCF data and is the same wherever you live. But New York City’s cost of living is 98% above the national average (COL index: 198), which changes what your net worth actually buys.

Purchasing power in New York City

National median (ages 45-54) ($247K)1.7 yrs of expenses
$1M net worth ($1.0M)6.9 yrs of expenses
$2M net worth ($2.0M)13.8 yrs of expenses
$5M net worth ($5.0M)34.6 yrs of expenses

Based on BLS 2023 Consumer Expenditure Survey ($144,475/yr in New York City).

New York City — key figures

Cost of living index198 (US avg = 100)
Median home price$737,100
Median household income$104,300

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Frequently asked questions

What net worth puts you in the top 10% in New York City?

Nationally, the top 10% of Americans ages 45-54 have a net worth of roughly $1.7M or more. In New York City, where cost of living is 98% above the national average (COL index: 198), that $1.7M covers approximately 11.8 years of living expenses compared to 23.3 years at the national average.

How does New York City's cost of living affect my net worth ranking?

New York City has a cost of living index of 198 (US average = 100). Your national percentile ranking uses Federal Reserve SCF data and is the same regardless of where you live. But your purchasing power differs: $1M in New York City covers 6.9 years of average living expenses, versus 13.7 years at the national average.

What is the median household income in New York City?

The median household income in New York City is $104,300 per year. The national median household income is approximately $74,580 (Census ACS 2023).

What is the median home price in New York City?

The median home sale price in New York City metro area is approximately $737,100 (2024). For a household with $500K in net worth, that represents 68% of the median home price.

Other cities

HoustonCOL 83San AntonioCOL 75DallasCOL 98AustinCOL 114Fort WorthCOL 98PhoenixCOL 120TucsonCOL 92Los AngelesCOL 260
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Data: 2022 Federal Reserve Survey of Consumer Finances.

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