New York, New York Income Statistics
New York Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
C
New York Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | New York | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $80,895 | $86,556 | $80,455 |
| Median Personal Income | $70,852 | $70,316 | $60,758 |
| Average Yearly Income Growth | 4.8% | 4.5% | 4.8% |
| Six-Figure Earners | 17.0% | 16.7% | 13.9% |
| $200k+ Households | 17.4% | 17.1% | 13.2% |
The median household income in New York is about 7% lower than in New York. Income has been growing faster in New York (4.8%/yr) than in New York (4.5%/yr).
About 17% of adults in New York earn six figures ($100,000 or more) a year, about the same as the New York average of 17%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in New York, New York grew by 61.1% from 2009 to 2024, reaching $80,895 in 2024. That's an average of about 4.8% per year.
Income Inequality and the Gender Pay Gap in New York
| Metric | New York | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.578 | 0.557 | 0.552 |
| Male Median Income | $75,852 | $77,531 | $69,667 |
| Female Median Income | $71,277 | $67,892 | $56,850 |
| Gender Pay Gap | 6.0% | 12.4% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In New York, it is 0.578, higher than New York's 0.557, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 6% more than women's income in New York, New York. Over a 35-year career, a 6% wage gap accumulates to roughly $160,125 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in New York, New York has narrowed from about 7% to 6% in 2024. Over that period the gap was widest at 8% in 2012, and was narrowest at 5% in 2017. In dollar terms, the gap has widened by $1,147 since 2009.
Employment
| Metric | New York | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.0% | 6.4% | 5.2% |
| Working from Home | 16.9% | 15.0% | 15.0% |
| Commute time (minutes) | 37 | 28 | 22 |
Approximately 352,835 people are unemployed in New York, New York.
The average commute time in New York is 37 minutes, longer than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in New York, New York has fallen from 9.5% to 8.0% in 2024. Over that period the rate peaked at 10.6% in 2013 and fell as low as 6.3% in 2019.
New York, NY Wealth Compared With Nearby Cities
New York, NY is the largest of the 5 cities compared here, 8,476,512 residents against a local median of 62,308. New York, NY's unemployment, at 8.0%, runs 15% above the 7.0% typical of the cities around it. That is the weaker end of the local range on this measure.
The cities themselves spread 5.6% on unemployment, so New York, NY sits at one end of an already wide local range rather than apart from it. New York, NY has the 3rd lowest unemployment of the 5 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| New York, NY | 8,476,512 | $80,895 #3/5 | 4.8%/yr #4/5 | 8.0% #3/5 | 0.578 #3/5 |
| Hoboken, NJ | 58,199 | $178,015 | 5.2%/yr | 3.8% | 0.426 |
| Jersey City, NJ | 293,788 | $98,050 | 6.2%/yr | 5.5% | 0.548 |
| Union City, NJ | 66,416 | $64,444 | 5.4%/yr | 9.4% | 0.586 |
| West New York, NJ | 51,736 | $71,883 | 4.6%/yr | 8.4% | 0.584 |
Conclusion
Considering all these factors, New York, New York has an overall wealth index grade of C, making it about on par with New York, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in New York, New York.
How Rich Is New York, New York?
New York has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $80,895, about 7% lower than the New York average of $86,556.
How fast is household income rising in New York, New York?
Between 2009 and 2024, the median household income in New York, New York rose 61%, from $50,225 to $80,895. Over the same years, income here outpaced New York as a whole: +61% against +56%.
What was the median household income in New York in 2023?
In 2023, the median household income in New York, New York was $80,010, up 4% from $76,831 in 2022. The New York median that year was $85,199.
What was the median household income in New York in 2020?
In 2020, the median household income in New York, New York was $67,634. By 2024 it had risen 20% to $80,895.
How strong is the job market in New York, New York?
Unemployment in New York, New York is 8.0%, well above the New York rate of 6.4%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in New York, New York?
The Gini coefficient in New York is 0.578. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in New York, New York?
Since 2009, the income gap between men and women in New York, New York has narrowed from about 7% to 6% in 2024. Over that period the gap was widest at 8% in 2012, and was narrowest at 5% in 2017. In dollar terms, the gap has widened by $1,147 since 2009.
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