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Metropolitan Statistical Area

Cost of living in the New York Metro Area

22 counties across NY and NJ. Population: 19,756,722.

Avg. 1-bed rent
$2,214/mo
Avg. household income
$100,541/yr
Avg. home value
$651,602
Avg. monthly cost
$4,523/mo

Last updated May 22, 2026

Rent in the New York Metro Area

Average rent across the New York-Newark-Jersey City metro area, weighted by county population.

Studio
$2,036
per month
1 bedroom
$2,214
per month
2 bedroom
$2,525
per month
3 bedroom
$3,170
per month
4 bedroom
$3,484
per month

Source: HUD FMR + ACS (population-weighted metro average)

Income and earnings in the New York Metro Area

Earnings data averaged across all 22 counties.

Household income
$100,541
per year
Individual earnings
$55,321
per year
Per capita
$54,510
per year

Source: ACS (population-weighted metro average)

Home values in the New York Metro Area

Average home values and annual property tax across the metro.

Average home value
$651,602
Average annual property tax
$8,429

Source: ACS (population-weighted metro average)

Energy costs in the New York Metro Area

Residential electricity and natural gas estimates.

Monthly electricity
$137
per month
Monthly gas
$66
per month
Annual total
$2,437
per year

Source: EIA (state averages applied per county, weighted)

All 22 counties in the New York Metro Area

The New York-Newark-Jersey City metro area includes 22 counties across NY and NJ. Sorted by population.

Compare counties in the New York Metro Area

Put two counties side by side to see how rent, taxes and everyday costs stack up across the metro.

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Frequently asked questions about the New York Metro Area

Common questions about cost of living in the metro area.

What is the cost of living in the New York Metro Area?

The estimated average cost of living in the New York-Newark-Jersey City metro area is approximately $4,523 per month for a single person. This is a population-weighted average across the 22 counties that make up the metro area.

What is the average rent in the New York Metro Area?

The average one-bedroom rent across the New York-Newark-Jersey City metro area is $2,214 per month, based on HUD Fair Market Rent data weighted by county population.

What is the cheapest county in the New York Metro Area?

Passaic County, NJ is the most affordable county in the New York-Newark-Jersey City metro area at approximately $3,806 per month for a single person.

What is the most expensive county in the New York Metro Area?

New York County, NY is the most expensive county in the New York-Newark-Jersey City metro area at approximately $5,319 per month for a single person.

How many counties are in the New York Metro Area?

The New York-Newark-Jersey City metro area covers 22 counties across NY and NJ. The five largest by population are Brooklyn, Queens, New York City, Suffolk County, Bronx County.

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About this data

All figures come from official U.S. government sources. Metro-area averages are population-weighted across constituent counties using Census ACS population estimates.