There’s a lot to love about New York — but the salary needed to live comfortably within the Empire State might not necessarily be one of those adoring tidbits.
Given that we’re home to the wealthiest suburb in the country and third most expensive city in the entire world, we can’t say we’re surprised to hear that a six-figure salary is par for the course.
Curious what the magic number is? We’ll give you all the details on the dough!
Here’s what you need to live comfortably in New York
SmartAsset just crunched numbers in a new study to uncover what salary singles and families of four need to live comfortably in each state, and but of course, New York requires some serious cash.
Using the 50/30/20 budget rule as its guide — which suggests allocating 50% of your income to necessities, 30% to discretionary spending, and 20% to long-term goals — SmartAsset reveals that singles in New York need to earn $114,691.20 and families of four must rake in $287,456. Only a few states beat us in the salary department, including:
- Hawaii: $124,467.20 for singles and $294,361.60 for families of four
- Massachusetts: $120,140.80 for singles and $313,747.20 for families of four
- California: $119,475.20 for singles and $287,456 for families of four
While we’re definitely glad we’re not in Hawaii’s shoes, we’re not terribly far off. From 2024, single New Yorkers now require a 2.64 increase (but a -0.72 for families of four). Overall, singles throughout the country need to make $5,844 more than they did last year, while families of four will require an extra $9,360 this year.
So what do you think, New Yorkers? Is this number staggering, or are you unsurprised with the survey results? Here’s hoping things get a little less expensive in 2026. (Wishful thinking, huh?)