Inwood, NY

Very High · 159

New York · Population 11,964 · Updated March 2026

$1,938
Median Rent / Month
$79,500
Median Income
$610,600
Median Home Value
$2,105
Owner Costs / Month

Affordability

How far your income goes in Inwood

29.3%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$23,256
Annual Rent
$8,666
State Income Tax
$9,892
Property Tax (est.)

Cost of Living Overview

Inwood has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 159 (where 100 equals the national median), Inwood residents can expect to pay median rent of $1,938/month while earning a median household income of $79,500/year.

The median home value in Inwood, NY is $610,600, with typical monthly owner costs around $2,105 including mortgage, insurance, and taxes. With a rent-to-income ratio of 29.3%, Inwood falls within the generally affordable range, though it's approaching the 30% burden threshold.

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 Inwood.

Frequently Asked Questions

Common questions about living costs in Inwood

What is the cost of living in Inwood, NY?
The cost of living index in Inwood, NY is 159 (US average = 100). Median monthly rent is $1,938, median household income is $79,500/year, and the median home value is $610,600.
Is Inwood, NY affordable?
No, Inwood is more expensive than the national average with a cost index of 159. The rent-to-income ratio is 29.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Inwood, NY?
The median gross rent in Inwood, NY is $1,938 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $23,256.
What is the median household income in Inwood?
The median household income in Inwood, NY is $79,500 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%.