How Much Does the Average Person Make in New York City?
Understand typical earnings in New York City and how they fare against the city's unique economic environment.
New York City is a global center, attracting individuals from various backgrounds and industries. This metropolis offers a diverse economic landscape, characterized by varied career opportunities and a dynamic job market. The city’s position as a hub for finance, technology, media, and the arts shapes the income profiles of its residents. This article explores specific income figures for New Yorkers and provides context regarding the financial considerations of living in a high-cost area.
Understanding Income Metrics
Income metrics provide a comprehensive view of earnings. Average income (mean income) is calculated by summing all incomes and dividing by the number of earners or households. This figure can be influenced by extremely high incomes, potentially skewing typical earnings. Median income represents the middle point in an ordered list of incomes, meaning half earn more and half earn less. This metric often offers a more representative picture of income distribution, as it is less affected by outliers.
Income data is categorized into individual income and household income. Individual income refers to the earnings of a single person, regardless of their living situation. Household income includes the combined earnings of all individuals aged 15 and older within a single housing unit, encompassing families, roommates, or single occupants. For a clear financial assessment, it is also important to consider whether income figures pertain to full-time workers or include all workers, such as those working part-time or seasonally.
Key Income Figures for NYC Residents
New York City’s income statistics often surpass national averages. As of 2023, the median household income was $79,713. This figure indicates that half of all households in the city earned more than this amount, while the other half earned less. The average household income for the city was $127,894, approximately 16% higher than the national average.
For individual earners, the per capita income was $50,776 as of 2023. For full-time workers, the median salary as of August 2025 is $73,950, with 80% of salaries falling between $34,451 and $169,650. The average annual salary for an individual is $90,000 before taxes, or $75,000 after taxes.
Income Variations by Sector and Experience
Income levels in New York City vary across different industries and are influenced by an individual’s experience and specialized skills. The finance sector remains a high-earning field, with average salaries ranging between $84,843 and $157,501 as of August 2025. Financial analysts earn an average total compensation of $145,000. Entry-level finance roles can start with salaries from $60,000 to $90,000, with potential for significant bonuses.
The technology sector also commands competitive salaries. A Technology Engineer earns an average hourly pay of $35.98 as of July 2025, which translates to an annual salary of approximately $74,832. Specialized roles like Analog Layout Design Engineers can earn more, with average salaries around $203,751. The media industry presents a range of incomes; a Media Director earns an average annual salary of about $178,026 as of July 2025, while a general “Media” role averages $131,463 annually.
Healthcare professionals also see varying incomes depending on their specific role and experience. A Registered Nurse had a median annual wage of $93,600 in May 2024. General Health Care Workers average about $40,093 as of August 2025, or $19 per hour. Specialized healthcare providers can earn more, with an average hourly pay of $34.81 as of July 2025. Across all sectors, increased years of experience and higher educational attainment correlate with higher earning potential, with top earners in many fields making substantially more than entry-level professionals.
Income in Context of Living Expenses
New York City’s high income figures are offset by its high cost of living, which impacts residents’ disposable income. The city ranks among the most expensive in the world, primarily due to housing costs. As of August 2025, the average rent for all property types is $3,800 per month, 146% higher than the national average. A one-bedroom apartment averages $4,022 per month, while a two-bedroom can cost around $5,491. Manhattan generally has the highest rents, averaging $4,547 monthly, followed by Brooklyn at $3,700 and Queens at $3,181.
Beyond housing, other essential expenses contribute to the overall cost burden. For a single person, average monthly costs without rent are $1,698 to $1,700. This includes utilities, which can range from $150 to $400 per month, with electricity bills reaching $50 to $100 for a studio apartment. Transportation is another notable expense, with an unlimited monthly MetroCard costing $132. While individual subway rides are $2.90, owning a car incurs substantial costs for parking, gas, and insurance.
Food costs are also elevated, approximately 26% higher than the national average. A single person’s groceries are $400 to $500 per month. The average annual food cost for a single adult is $4,833, increasing to $14,165 for a working family of four. Healthcare expenses are also higher than the national average, with employer-sponsored single coverage premiums averaging $9,173 annually, and family coverage reaching $26,355. These expenses mean a significant portion of income is allocated to basic living needs, requiring diligent financial planning to maintain comfort in the city.