Queens (Astoria, Jackson Hts)
$500k–$750k
Co-ops and condos below Manhattan medians. Still above US norms.
New York City · New York
How Much House Can You Afford in New York City?
Median home near $725,000. Typical income near $95,000. Very high — co-op maintenance and local tax squeeze cash flow. Run the calculator — this page also has salary tiers, neighborhood prices, and local buyer guides.
New York City home affordability at a glance
Planning figures for New York City, New York. Your lender quote and tax bill may differ — use these as a starting point.
$725,000Median home price
$95,000Median household income
$226,562+Rough gross for median (3× rule)
$4,919/moEst. PITI on median (20% down)
On a median $725,000 home, property tax near 0.88% is about $531/month. Insurance near 0.45% of value is about $271/month. HOA is about $450/month where it applies.
Co-ops may need 20–50% down and board approval. City income tax hits take-home before you shop.
Monthly payment breakdown on a median New York City home
Estimated PITI at $725,000 list, 20% down, 6.5% rate, and New York City tax and insurance defaults. Principal and interest are the largest line — but tax, insurance, and HOA still move the stress meter.
Estimated monthly PITI
$4,919/mo
In New York City, buyers who only compare list price to income miss tax and insurance. Run the calculator with your real debts — the 36% back-end rule includes car loans and cards.
How much house can you afford in New York City by salary?
Max home price at common gross salaries, 6.5% rate, $300/month other debt, and New York City tax and insurance. Stress label uses the 28% housing cap.
| Gross salary | Max home (est.) | Stress |
|---|---|---|
| $75,000 | $174,989 | Moderate |
| $100,000 | $253,510 | Moderate |
| $125,000 | $332,031 | Moderate |
| $150,000 | $410,552 | Moderate |
| $200,000 | $567,594 | Moderate |
These rows assume no down payment in the solver — your down payment raises what you can buy. Enter your real numbers in the calculator for a personal max.
New York take-home pay calculator · Comfortable salary in New York City
New York City home prices by area
The citywide median blends expensive and affordable pockets. Use these ranges as a map — not a guarantee for any one listing.
Brooklyn (Bed-Stuy, Bushwick)
$650k–$950k
Row houses and condos. Maintenance varies by building.
Manhattan
$900k–$2M+
Co-op heavy. Board approval and high maintenance common.
Bronx
$400k–$600k
Most reachable borough for many first-time buyers.
The 28/36 rule in New York City
Lenders often use two caps. Our calculator applies both so you see a realistic max — not just what a bank might pre-approve.
28% front-end
Your full housing payment — mortgage, tax, insurance, and HOA — should stay near or below 28% of gross monthly income. In New York City, insurance and HOA often push buyers over this line before list price does.
36% back-end
All monthly debt plus housing should stay near or below 36% of gross income. A $400 car payment and $250 in student loans shrink your max home price even when income is strong.
Stress meter
We label results Comfortable, Moderate, Stretched, or Over limit. Shop below your max if you want room for repairs, childcare, or savings — especially in New York where tax and insurance vary by block.
Buying a home in New York City: local context
New York City is the most complex market in this guide. Co-ops, condos, and townhomes each carry different fees and board rules.
City income tax stacks on state tax. Check take-home pay before you trust gross salary in the calculator.
Median price near $725k is not one borough. Queens and Bronx listings can sit far below Manhattan medians — still above national norms.
HOA and maintenance near $450 a month in our default is a floor, not a cap. Luxury buildings run much higher.
Many buyers need $180k+ gross for a median condo payment with 20% down. If you are below that, size down or widen your search to outer boroughs.
New York City is the most complex market in this guide. Co-ops, condos, and townhomes each carry different fees and rules.
City income tax stacks on state tax. $100k in NYC does not spend like $100k in Florida after tax.
Median price near $725k blends boroughs — Manhattan medians run much higher.
Many buyers need help from savings or family for down payment. Still run stress on income you control long term.
How much house can I afford in NYC on $150k?
At $150,000 gross, city and state tax cut take-home before you shop. The 28% cap is about $3,500 a month on gross — but net pay feels tighter than in no-tax states.
That payment often fits a smaller condo near $550,000–$650,000 in outer boroughs — not a Manhattan median.
Co-op maintenance can add $800–$1,500 a month in some buildings. Raise HOA in the calculator to match the listing.
NYC co-op maintenance and board approval
Co-ops may need 20–50% down and months of board review. Debt-to-income rules can be stricter than banks.
Maintenance often includes building mortgage and tax — not just amenities.
Condos have clearer fee lines but still carry reserve risk in older walk-ups.
What salary do you need to buy in New York City?
For a median unit near $725,000 with 20% down, plan on $180,000+ gross at 6.5% before other debt. Borough and building type move the number a lot.
Dual income is standard. Two earners at $100k each may still shop below median once maintenance is in the stack.
Use our NYC take-home tool — city tax stacks on state tax for residents.
Rent vs buy in New York City
NYC rent near $3,400 is high but so is the buy-in. Co-op flip taxes and closing costs favor longer stays. Run rent vs buy with maintenance, not mortgage alone.
First-time buyer tips in New York City
- Model co-op maintenance at the real listing number — not our default.
- Get board package requirements before you pay for appraisal.
- Compare Queens and Bronx if Brooklyn feels stretched.
- Budget mover fees, board fees, and working capital for co-ops.
FAQ — how much house can I afford in New York City?
What income to buy in NYC?
Often $180k+ gross for a median condo payment with 20% down — borough and building matter.
Are NYC property taxes low?
Rates look low on paper but assessed values are high. Maintenance fees are the wild card.
What income to buy in NYC?
Often $180k+ gross for a median condo payment with 20% down — borough matters.
Are NYC property taxes low?
Rates look low on paper but values are high. Maintenance is the wild card.
Can I buy in NYC on $120k?
Outer-borough studios and small condos may work — not median listings with high maintenance.
Co-op vs condo in NYC?
Co-ops often cost less upfront but have stricter boards and higher maintenance risk.