Quality of Life

California vs New York: Cost of Living

New York is cheaper overall by 5.8 cost-of-living points, but New York has lower median home values.

California

CA · West

138.5

Composite cost of living index (100 = national average). Lower = more affordable.

New York

NY · Northeast

Winner

132.7

Composite cost of living index (100 = national average). Lower = more affordable.

Visual comparison

California138.5

New York132.7

Difference: 5.8 points — New York leads.

National Rankings

Where They Rank Nationally

See where both states fall among all 50 states for cost of living.

California #48 · 138.5

New York #47 · 132.7

Best Worst

10 Best States — Cost of Living

Lower is better

West Virginia

83.6

Mississippi

85.5

Arkansas

87.6

Kentucky

88.0

Alabama

88.6

Oklahoma

88.6

Missouri

90.0

Kansas

90.2

Iowa

91.0

#10

Ohio

91.0

Selected states

#48

California

138.5

#47

New York

132.7

California ranks 48th and New York ranks 47th nationally for cost of living.

Overview

Cost of Living in context

A fast-reading view of the tradeoffs behind the raw cost numbers.

Overall

New York feels cheaper overall

New York has the lower cost-of-living index, beating California by 5.8 points on the overall affordability baseline.

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Housing

pay about 1.9x more for a home

New York has the lower median home value, while buying in California costs materially more at the median.

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Rent Pressure

New York puts less pressure on a median paycheck

Median rent takes a smaller share of household income in New York than in California, which makes monthly budgeting easier.

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Taxes

New York keeps more income after state tax

New York has the lower top state income tax rate, which softens the total cost picture even when prices are close.

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Cost stack

California

Overall affordability

Cost of living index: 138.5
Regional price parity: 113.4
Regular gas price: $5.929/gal
Electricity price: 30.29 c/kWh

Housing

Median gross rent: $1,856/mo
Median home value: $693,700
Owner costs w/ mortgage: $3,001/mo
Owner costs w/o mortgage: $882/mo

Taxes

State income tax: 13.30%
State sales tax: 7.25%
Property tax: 0.70%

Income

Median household income: $84,097
Income after median rent: $5,152
Minimum wage: $16.50/hr

Laws

Gun laws: Restrictive
Alcohol system: License State
Marijuana status: Legal

New York

Overall affordability

Cost of living index: 132.7
Regional price parity: 114.8
Regular gas price: $4.069/gal
Electricity price: 28.37 c/kWh

Housing

Median gross rent: $1,578/mo
Median home value: $367,200
Owner costs w/ mortgage: $2,544/mo
Owner costs w/o mortgage: $980/mo

Taxes

State income tax: 10.90%
State sales tax: 4.00%
Property tax: 1.55%

Income

Median household income: $78,609
Income after median rent: $4,973
Minimum wage: $16.50/hr

Laws

Gun laws: Restrictive
Alcohol system: License State
Marijuana status: Legal

What stands out

New York has lower median home values.
New York has the lower overall cost index.
California has the higher median household income.
New York looks more attainable on home value to income ratio.

Affordability ratios

Owner costs to income

California: 21.0%

New York: 18.9%

What this means