Salary Needed to Live in New York as a Family
A family of four (2 adults, 2 children) needs approximately $112,379/year to live comfortably in New York, NY — including 15% savings.
Comfortable Salary
$112,379
with 15% savings
Bare Minimum
$88,967
no savings buffer
Monthly Expenses
$5,338
81% above national avg
Detailed Monthly Budget for a Family in New York
| Expense | New York | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 3BR Apartment/House Rent | $473 | $209 | +126% |
| 🛒 Groceries | $72 | $44 | +64% |
| ⚡ Utilities | $39 | $28 | +39% |
| 🚗 Transportation | $75 | $44 | +70% |
| 🛡️ Car Insurance | $246 | $229 | +7% |
| 🏥 Health Insurance | $74 | $58 | +28% |
| Childcare/After-school | $2,244 | $1,200 | +87% |
| Internet + Phones | $337 | $180 | +87% |
| Children Activities | $468 | $250 | +87% |
| Dining Out | $655 | $350 | +87% |
| School Supplies & Clothing | $374 | $200 | +87% |
| Healthcare Co-pays | $281 | $150 | +87% |
| Total Monthly | $5,338 | $2,942 | +81% |
How We Calculated the Salary
Monthly expenses:$5,338
Target savings (15%):$1,190/mo
Monthly after-tax needed:$6,528
Effective tax rate:28%
Gross annual salary needed:$112,379
Other Household Types in New York
Related Pages
FAQ
What salary does a family with kids need in New York?
A family with kids needs approximately $112,379/year ($9,365/month gross) to live comfortably in New York with a 15% savings rate.
How much is rent for a family with kids in New York?
A 3br apartment/house in New York costs approximately $473/month, which is the largest single expense at 9% of the total budget.
Is New York affordable for a family with kids?
New York is above the national average for family with kids living costs, requiring 81% more salary than the US median.