New York · USD · very high cost city

Savings rate in New York — are you on track?

New York is a very high cost city. Manhattan median rent exceeds $3,500/month; outer boroughs offer lower but still high costs. New Yorkers at mid-income levels face the country's most compressed income-to-cost ratio outside the tech hubs.

Median rent

$3,500/mo

New York 2023

Typical other costs

$2,500/mo

excl. housing

Savings benchmark

7–20%

mid-income USD

Pre-set for New York — adjust to your situation

Country
$65,000
$20,000$235,000$450,000+
$3,500/mo
$0$4,000$8,000+

Food, transport, subscriptions, going out — everything except rent

$1,750/mo
$0$3,750$7,500+

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What a good savings rate looks like in New York

Using data from BLS Consumer Expenditure Survey 2023, people at mid-range incomes in United States typically save between 7–20% of gross income. In a very high cost city like New York, housing costs can compress that meaningfully — especially for renters.

Minimum
7%
floor — not building
Expected
12%
benchmark
Strong
26%
top tier

Source: BLS Consumer Expenditure Survey 2023. Benchmarks shown for mid-income earners in United States.

See full cost breakdown for New York →

Compare nearby cities

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SalaryVerdict — Is your New York salary competitive?SpendVerdict — Is your New York rent too high?