Floral Park, NY

Very High · 195

New York · Population 16,025 · Updated March 2026

$2,429
Median Rent / Month
$150,350
Median Income
$754,300
Median Home Value
$2,428
Owner Costs / Month

Affordability

How far your income goes in Floral Park

19.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in New York

State-level tax rates that affect your costs

10.9%
Income Tax (Top Rate)
4.0%
Sales Tax
1.62%
Property Tax Rate

Estimated Annual Costs

$29,148
Annual Rent
$16,388
State Income Tax
$12,220
Property Tax (est.)

Cost of Living Overview

Floral Park has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 195 (where 100 equals the national median), Floral Park residents can expect to pay median rent of $2,429/month while earning a median household income of $150,350/year.

The median home value in Floral Park, NY is $754,300, with typical monthly owner costs around $2,428 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

New York's top income tax rate of 10.9% is among the highest in the nation, adding to the overall cost burden. Combined with a 4.0% sales tax rate and 1.62% effective property tax rate, the overall tax environment is a factor in the total cost of living in Floral Park.

Frequently Asked Questions

Common questions about living costs in Floral Park

What is the cost of living in Floral Park, NY?
The cost of living index in Floral Park, NY is 195 (US average = 100). Median monthly rent is $2,429, median household income is $150,350/year, and the median home value is $754,300.
Is Floral Park, NY affordable?
No, Floral Park is more expensive than the national average with a cost index of 195. The rent-to-income ratio is 19.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Floral Park, NY?
The median gross rent in Floral Park, NY is $2,429 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $29,148.
What is the median household income in Floral Park?
The median household income in Floral Park, NY is $150,350 per year. This compares to the national median of approximately $80,000.
What are the taxes like in New York?
New York has a top income tax rate of 10.9%, a sales tax of 4.0%, and an effective property tax rate of 1.62%.