Why Six Figures May Not Even Pass as 'Making It' in New York City Today
To paraphrase the city’s signature song, if you can make it there, you’ll make it anywhere. Yet, who can actually afford to make it in New York City in 2026?
In fact, more people “make it” there than most anywhere. According to the U.S. Census Bureau, New York has an estimated population of 8.58 million people, and ranks 41st among the world’s most populous cities, per World Population Review.
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The salary required to live “in sustainable comfort” in the state of New York (adjusted using the 50-30-20 rule) is $124,342, and the income needed for a family of four is $291,533, according to SmartAsset. The Empire State ranked fourth in salary required to live comfortably behind Hawaii, Massachusetts and California. It also had the second highest year-over-year change at 8.4% (behind Montana at 8.6%).
But what about New York City proper? What sort of pre-tax income do you need to live in comfort? How much does it take to reach traditional financial milestones in NYC or even feel less anxious about money decisions? Let's take a closer look.
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Speaking to MoneyLion this summer, Andrew Lokenauth, founder of the financial education blog Fluent in Finance, estimated a comfortable living wage of between $120,000 and $150,000 per year. SmartAsset found the salary needed for a single adult was $158,954, which rose to $337,875 for a family of four.
Posting on Reddit about salaries required to live comfortably in NYC, Manhattan resident u/themisfit424 confirmed the rough estimates.
“I live alone and have to be very conscious of my spending each month,” wrote the user. “I’ve done the math and to my estimate, I’d need to make about [$175,000] pre-tax (with my current apartment) to really feel comfortable and be able to enjoy life in the city. To just feel more at ease with rent, expenses, but keeping my current habits, I’d say [$140,000].
However, as the Realtor.com Rental Report 2026 Q3 explained, rent costs in the “Big Apple” are rising drastically. The median asking rent in New York City increased $162 (4.5%) year-over-year and hit a record high of $3,785 per month.
Buying is even worse: A median property in NYC costs $6,952 more per month than renting one, which is almost 184% higher, per the Realtor.com report. If you’re an optimist, the median listing price for a medium-priced NYC house actually dropped 2% to $1,409,79, with the monthly cost decreasing by around $107 (1%), from $10,844 to $10,737 over the year.
The problem with New York City — and pretty much everywhere else in the U.S. — is that wages aren’t keeping up with the cost of living. Everything costs more, so it’s hard to hit even modest milestones like reaching a positive net worth, starting an emergency fund or paying off high-interest debt, much less buying a house or building a sufficient retirement nest egg.
According to MIT’s Living Wage Calculator, an adult requires a living wage of $31.50/hour to support themselves, which is an annual income of $65,510 (before taxes) just in order to cover typical expenses like food, housing, transportation and healthcare. As we’ve seen above, rent can eat up over $45,000 of your salary alone.
A six-figure income was once thought of as “making it,” but for those living in NYC, that’s now just “getting by.” Feeling comfortable and hitting common milestones is certainly possible, but you'll need to strive for a salary of around $150,000 and temper your expectations of what you’ll be able to afford and when you’ll be able to reach those key financial moments in your life.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
