Monsey, NY

Very High · 178

New York · Population 27,787 · Updated March 2026

$1,780
Median Rent / Month
$49,095
Median Income
$829,700
Median Home Value
$2,017
Owner Costs / Month

Affordability

How far your income goes in Monsey

43.5%
Rent-to-Income Ratio
Burdened
Rent takes more than 35% of median income — considered cost-burdened.

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

$21,360
Annual Rent
$5,351
State Income Tax
$13,441
Property Tax (est.)

Cost of Living Overview

Monsey has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 178 (where 100 equals the national median), Monsey residents can expect to pay median rent of $1,780/month while earning a median household income of $49,095/year.

The median home value in Monsey, NY is $829,700, with typical monthly owner costs around $2,017 including mortgage, insurance, and taxes. The 43.5% rent-to-income ratio indicates significant housing cost burden. Residents spend well over a third of their income on rent alone.

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 Monsey.

Frequently Asked Questions

Common questions about living costs in Monsey

What is the cost of living in Monsey, NY?
The cost of living index in Monsey, NY is 178 (US average = 100). Median monthly rent is $1,780, median household income is $49,095/year, and the median home value is $829,700.
Is Monsey, NY affordable?
No, Monsey is more expensive than the national average with a cost index of 178. The rent-to-income ratio is 43.5%—above the 30%% affordability threshold.
What is the average rent in Monsey, NY?
The median gross rent in Monsey, NY is $1,780 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $21,360.
What is the median household income in Monsey?
The median household income in Monsey, NY is $49,095 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%.