Salary Needed to Live in New York as a Retiree
A retired individual (65+) needs approximately $37,791/year to live comfortably in New York, NY — including 5% savings.
Comfortable Salary
$37,791
with 5% savings
Bare Minimum
$35,167
no savings buffer
Monthly Expenses
$2,110
72% above national avg
Detailed Monthly Budget for a Retiree in New York
| Expense | New York | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $273 | $121 | +126% |
| 🛒 Groceries | $26 | $16 | +63% |
| ⚡ Utilities | $21 | $15 | +40% |
| 🚗 Transportation | $30 | $18 | +67% |
| 🛡️ Car Insurance | $246 | $229 | +7% |
| 🏥 Health Insurance | $74 | $58 | +28% |
| Medicare Supplement | $374 | $200 | +87% |
| Prescription Drugs | $281 | $150 | +87% |
| Internet + Phone | $224 | $120 | +87% |
| Recreation & Social | $374 | $200 | +87% |
| Home Maintenance | $187 | $100 | +87% |
| Total Monthly | $2,110 | $1,227 | +72% |
How We Calculated the Salary
Monthly expenses:$2,110
Target savings (5%):$119/mo
Monthly after-tax needed:$2,229
Effective tax rate:28%
Gross annual salary needed:$37,791
Other Household Types in New York
Related Pages
FAQ
What salary does a retiree need in New York?
A retiree needs approximately $37,791/year ($3,149/month gross) to live comfortably in New York with a 5% savings rate.
How much is rent for a retiree in New York?
A 1-2br senior-friendly in New York costs approximately $273/month, which is the largest single expense at 13% of the total budget.
Is New York affordable for a retiree?
New York is above the national average for retiree living costs, requiring 72% more salary than the US median.