In New York, the median household income is $85,974 and 54% of homes are owner-occupied (ACS 2020 to 2024). A safe personal loan starts with a license check, three written offers compared on total cost, and a payment that fits your own budget.
On this page
- New York by the numbers
- What the numbers mean for New York borrowers
- Largest places in New York
- Mid-size New York communities
- Counties with the most residents
- How New York earns a living
- More context for New York budgets
- Checking a lender in New York
- Can New York residents use the questionnaire?
- Local guides in New York
- Frequently asked questions
New York by the numbers
Sixteen budget-related measures for New York, set against the national figure and ranked from highest to lowest among the 51 jurisdictions (Census Bureau ACS, 2020 to 2024).
| Budget measure | New York | United States | Rank of 51 |
|---|---|---|---|
| Median household income | $85,974 | $80,734 | 16th |
| Home value, median | $423,800 | $332,700 | 11th |
| Homes owner-occupied | 54% | 65% | 50th |
| Mortgaged owners paying 30%+ on housing | 33% | 28% | 4th |
| Home value to income ratio | 4.9x | 4.1x | 13th |
| Commutes of 45 minutes or longer | 27% | 17% | 1st |
| Working from home | 15% | 15% | 23rd |
| Bachelor's degree or higher (age 25+) | 40% | 36% | 10th |
| Median age | 39.8 | 38.9 | 18th |
| Gini index (inequality) | 0.517 | 0.483 | 2nd |
| Households earning under $35,000 | 22% | 21% | 19th |
| Share of households at $100,000+ | 44% | 41% | 16th |
| People below the poverty line | 14.0% | 12.5% | 11th |
| Jobless rate, 5-year ACS | 6.4% | 5.2% | 3rd |
| Rent, median gross (monthly) | $1,621 | $1,413 | 10th |
| Renters paying 30%+ of income on rent | 52% | 51% | 11th |
What the numbers mean for New York borrowers
Long commutes of 45 minutes or more affect 27% of New York workers, which ranks 1st of 51. Fuel, tires and insurance belong in the budget before you size any loan payment.
Poverty affects 14.0% of New York residents (U.S. 12.5%), and the five-year average unemployment rate was 6.4%. If your job is seasonal or hourly, lenders may ask for more months of statements to see a steady pattern.
About 54% of New York homes are owner-occupied (50th of 51; U.S. 65%), and the median home is valued at $423,800, or 4.9 times the median household income. The owner cost burden rate, for households with a mortgage, is 33%. Owners can also compare a home-equity line against a personal loan, keeping in mind that equity borrowing puts the house at risk.
A middle-of-the-road New York household brings in $85,974 a year. That is 6% above the $80,734 national median and good for 16th place. Income is the first thing a lender verifies, so have recent pay stubs or tax returns ready before you compare offers.
Largest places in New York
Big-city snapshot for New York, ranked by population; a linked name means a full local guide is available.
| Place | County | Residents | Median income | Median rent | Median home value |
|---|---|---|---|---|---|
| New York | Kings County, Queens County | 8,483,844 | $80,483 | $1,821 | $777,600 |
| Buffalo | Erie County | 276,854 | $50,041 | $1,046 | $164,200 |
| Yonkers | Westchester County | 209,978 | $83,549 | $1,784 | $501,600 |
| Rochester | Monroe County | 208,772 | $47,213 | $1,081 | $139,600 |
| Syracuse | Onondaga County | 146,384 | $47,819 | $1,039 | $138,400 |
| Albany | Albany County | 100,492 | $61,986 | $1,216 | $234,700 |
| New Rochelle | Westchester County | 82,769 | $109,167 | $1,917 | $702,500 |
| Cheektowaga | Erie County | 76,056 | $68,613 | $1,055 | $185,500 |
| Mount Vernon | Westchester County | 72,427 | $78,779 | $1,629 | $484,000 |
| Schenectady | Schenectady County | 68,847 | $58,399 | $1,145 | $168,800 |
| Utica | Oneida County | 64,217 | $52,484 | $951 | $151,300 |
| White Plains | Westchester County | 60,666 | $110,763 | $2,269 | $620,800 |
Size first: 17 New York places pass 50,000 residents and 201 pass 10,000. Income next: among those over 20,000, Elmira sits lowest at $43,120 and Garden City highest at $244,152. The highest median rent among them is $3,392 in Plainview, the lowest $759 in Jamestown.
Mid-size New York communities
From Hempstead (58,801 residents) down to Baldwin (34,994).
| City or town | Residents | Median household income | Median rent |
|---|---|---|---|
| Hempstead | 58,801 | $90,420 | $1,622 |
| Tonawanda Town | 56,806 | $77,679 | $1,102 |
| Levittown | 51,904 | $146,068 | $2,656 |
| Troy | 51,033 | $58,477 | $1,175 |
| Irondequoit | 50,657 | $79,162 | $1,159 |
| Niagara Falls | 47,987 | $49,101 | $823 |
| Binghamton | 47,151 | $45,578 | $870 |
| West Seneca | 45,303 | $79,709 | $1,106 |
| Freeport | 44,088 | $120,625 | $2,077 |
| Hicksville | 43,780 | $144,471 | $3,113 |
| West Babylon | 43,570 | $129,519 | $2,225 |
| Valley Stream | 40,315 | $133,190 | $2,124 |
| Coram | 39,539 | $105,220 | $2,492 |
| Kiryas Joel | 38,916 | $50,032 | $1,604 |
| Central Islip | 38,373 | $113,707 | $2,071 |
| Brighton | 36,834 | $85,467 | $1,350 |
| East Meadow | 36,821 | $133,971 | $2,890 |
| Commack | 36,558 | $169,792 | $2,665 |
| Elmont | 36,518 | $114,217 | $2,209 |
| Baldwin | 34,994 | $145,472 | $1,890 |
Measured as a year of median rent against median household income, housing weighs most in Kiryas Joel (38%) and least in Baldwin (16%) among these 20 places.
Counties with the most residents
New York has 62 counties or equivalents. The 16 most populous are below.
| County | Population | Median income | Median gross rent | Median home value |
|---|---|---|---|---|
| Kings County | 2,631,580 | $80,263 | $1,833 | $905,000 |
| Queens County | 2,323,052 | $86,136 | $1,956 | $723,800 |
| New York County | 1,629,477 | $103,931 | $2,197 | $1,090,500 |
| Suffolk County | 1,530,146 | $130,686 | $2,255 | $578,400 |
| Bronx County | 1,404,779 | $48,676 | $1,458 | $529,500 |
| Nassau County | 1,389,591 | $146,202 | $2,252 | $684,700 |
| Westchester County | 999,677 | $118,976 | $1,951 | $663,200 |
| Erie County | 950,622 | $72,839 | $1,090 | $233,800 |
| Monroe County | 753,753 | $76,382 | $1,173 | $213,700 |
| Richmond County | 494,956 | $98,333 | $1,733 | $675,500 |
| Onondaga County | 471,129 | $76,945 | $1,108 | $200,200 |
| Orange County | 406,616 | $97,178 | $1,680 | $387,900 |
| Rockland County | 341,883 | $109,959 | $1,901 | $596,900 |
| Albany County | 317,018 | $85,333 | $1,313 | $294,600 |
| Dutchess County | 298,220 | $99,478 | $1,582 | $400,600 |
| Saratoga County | 238,284 | $100,787 | $1,394 | $348,600 |
Nassau County posts the highest county median income in New York at $146,202, while Bronx County posts the lowest at $48,676. Your county's costs, not the state's, set how much room a new payment has.
How New York earns a living
The jobs mix in New York: the four largest industries by share of employed residents 16 and older.
| Sector | Share of New York workers | National share | Difference |
|---|---|---|---|
| Education, health care and social assistance | 29% | 24% | +5.8 pts |
| Professional, scientific and administrative services | 13% | 13% | +0.7 pts |
| Retail trade | 10% | 11% | -1.3 pts |
| Arts, entertainment, lodging and food service | 8% | 9% | -0.5 pts |
Education, health care and social assistance is the sector with the biggest gap over the national mix, employing 29% of New York workers (U.S.: 24%). Lenders verify your own income history, so steady deposits matter more than which sector you work in.
More context for New York budgets
With a median age of 39.8 and 40% of adults holding a four-year degree, New York has a Gini inequality index of 0.517, ranking 2nd from most to least unequal.
In New York, 44% of households report $100,000 or more in income and 22% report under $35,000, against 41% and 21% for the country. The income gap matters for borrowing: the same $300 payment is a rounding error for one household and a budget crisis for another.
The rent burden rate in New York is 52% of renter households (U.S. 51%), on a median rent of $1,621. When rent rises at renewal, a fixed loan payment can collide with it, so leave room for the next increase.
Checking a lender in New York
Personal lenders that make loans to New York residents generally need a state license or must lend through a bank. The state banking agency, listed by the Conference of State Bank Supervisors, is the New York State Department of Financial Services.
- Confirm the license on NMLS Consumer Access before you upload documents.
- An upfront fee to "secure" a loan is a warning sign the FTC describes here.
- If a lender stops answering, the CFPB complaint form usually gets a response within weeks.
Can New York residents use the questionnaire?
Not every state has a lending partner yet. Choose New York on the location step and the questionnaire will tell you right away whether matching is open; if it is not, you can leave an email for the waitlist.
Local guides in New York
Open a local guide for a closer look at your own city (13 in New York):
- Albany
- Buffalo
- Cheektowaga
- Kiryas Joel
- New York
- Newburgh
- Poughkeepsie
- Rochester
- Schenectady
- Syracuse
- Troy
- White Plains
- Woodbury
Frequently asked questions
Who regulates personal lenders in New York?
In New York, the New York State Department of Financial Services is the banking agency named by the Conference of State Bank Supervisors. You can also search a lender on NMLS Consumer Access and file complaints with the CFPB.
What do households in New York earn?
The Census Bureau puts it at $85,974, which places New York 16th of 51 (U.S.: $80,734).
What is the median rent in New York?
The typical renter pays $1,621; the U.S. median is $1,413. In New York, 52% of renting households spend 30 percent or more of income on housing.
How many New York residents live below the poverty line?
14.0% in the Census Bureau's 2020 to 2024 estimates, compared with 12.5% nationally. Households under strain should look at free options, such as hardship plans and nonprofit counseling, before a loan.