Quick facts: New york, NY

Quick Facts

125.4
Cost of Living
above US average
8,335,897
Population
28.51
Crime Rate per 1000
above US average
$76,607
Median Income
below US average
$2,600,000
Median House Price
above US average
$8006.96
Average Rent
above US average
19%
Poverty Rate
above US average
6.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $76,607.

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Income Needed to Buy

βœ— Stretch
$816k/year
Based on $2,600,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $816k vs median $76,607
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Income Needed to Rent

⚠ Stretch
$343k/year
Based on $8006.96/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $343k vs median $76,607
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for New york, NY

New York City, often referred to as NYC, is a vibrant metropolis renowned for its significant impact on culture, finance, art, and fashion worldwide. Comprising five boroughsβ€”Manhattan, Brooklyn, Queens, The Bronx, and Staten Islandβ€”NYC is one of the most densely populated cities in the United States. The iconic skyline showcases landmarks such as the Empire State Building, One World Trade Center, and the Statue of Liberty, symbolizing the city’s rich history and resilience. Times Square, known for its bright lights and Broadway theaters, serves as a major entertainment hub. NYC is also a melting pot of cultures, offering diverse neighborhoods such as Chinatown, Little Italy, and Harlem, each with unique culinary and cultural experiences. The city's extensive public transportation system, including subways and buses, makes traversing its expanse accessible. Home to world-class institutions like the Metropolitan Museum of Art and Central Park, NYC provides a blend of recreational and cultural activities. Whether it's catching a live performance, dining at a trendy restaurant, or shopping in premium boutiques, New York City offers something for everyone, making it a must-visit destination.

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