New York County · New York · Northeast · 8.5M residents
New York, NY: economy, jobs & business costs
The site-selection read on New York: labor costs, talent, corporate tax, energy, and business activity, with the New York median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: Curated city row; coverage varies by fact.
Average weekly wages in the surrounding labor market run $3,400/wk. New York's corporate income tax rate is 7.25%. Commercial electricity averages 18.8¢/kWh.
Compare New York side by side
Avg. weekly wage
$3,400/wk
Corporate income tax
7.25%
Bachelor's degree or higher
41.6%
Commercial electricity
18.8¢/kWh
Economic momentum
How fast New York's economy is moving, ranked against the US cities we track.
70/100
Heating
Ranks New York's jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| Median home value | $785,000 |
| Price per sq. ft. | $780 |
| Property tax rate | 0.9% |
| 1-bedroom rent | $3,700/mo |
| 2-bedroom rent | $4,300/mo |
| State & local income tax | 7.67% |
| Sales tax | 8.88% |
| Corporate income tax | 7.25% |
| Avg. weekly wage | $3,400/wk |
| Bachelor's degree or higher | 41.6% |
| Commercial electricity | 18.8¢/kWh |
| Businesses per 1k residents | 78.3/1k |
| Wage: Software developer | $166,830 |
| Wage: Registered nurse | $119,720 |
| Wage: General manager | $157,000 |
| Wage: Customer service | $49,590 |
| Wage: Warehouse worker | $38,600 |
| Wage: Heavy truck driver | $65,040 |
| Wage: Electrician | $79,020 |
| Wage: Retail salesperson | $38,280 |
| Cost of living index | 168 |
| Groceries index | 116 |
| Utilities | $195/mo |
| Transit pass | $132/mo |
| Gas price | $3.30/gal |
| Healthcare index | 112 |
| Childcare (per child) | $2,400/mo |
| Median household income | $76,000 |
| Unemployment rate | 5% |
| Population | 8.5M |
| Crime index | 47/100 |
| School rating | 6.5/10 |
| Walkability | 88/100 |
| Disaster risk | 99/100 |
| Avg. commute | 41 min |
| Sunny days / year | 224 days |
| July high | 85°F |
| January low | 28°F |
| Annual snowfall | 30 in |
| Home price YoY | +4.2% |
| Home price MoM | 0.0% |
| Rent YoY | +5.7% |
| Rent MoM | +0.6% |
| Employment (jobs) YoY | +0.9% |
| Building permits YoY | — |
| Ocean coast | 15 mi |
| Big lake | 59 mi |
| Mountains | 74 mi |
| Major airport | 7 mi |
| Ski resort | 74 mi |
Popular comparisons
Nearby
- Mount Vernon, NY · 72k
- Yonkers, NY · 210k
- Floral Park, NY · 16k
- Elmont, NY · 37k
- North Valley Stream, NY · 18k
Similar size
- Buffalo, NY · 277k
- Rochester, NY · 209k
- Syracuse, NY · 146k
- Albany, NY · 100k
- New Rochelle, NY · 83k
Real listings in New York
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is New York a good place to run a business?
- New York's corporate income tax rate is 7.25%; average weekly wages in the surrounding labor market run $3,400/wk; commercial electricity averages 18.8¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in New York, NY?
- New York indexes at 168 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $4,300/mo and a median home value of $785,000.
- How much does a house cost in New York?
- The median home value in New York is $785,000 (compiled estimate; individual listings vary).
- How much is rent in New York?
- A two-bedroom in New York rents for about $4,300/mo.