New Hyde Park, NY

Very High · 170

New York · Population 10,208 · Updated March 2026

$1,634
Median Rent / Month
$146,571
Median Income
$700,400
Median Home Value
$2,638
Owner Costs / Month

Affordability

How far your income goes in New Hyde Park

13.4%
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

$19,608
Annual Rent
$15,976
State Income Tax
$11,346
Property Tax (est.)

Cost of Living Overview

New Hyde Park has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 170 (where 100 equals the national median), New Hyde Park residents can expect to pay median rent of $1,634/month while earning a median household income of $146,571/year.

The median home value in New Hyde Park, NY is $700,400, with typical monthly owner costs around $2,638 including mortgage, insurance, and taxes. The median rent-to-income ratio of 13.4% 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 New Hyde Park.

Frequently Asked Questions

Common questions about living costs in New Hyde Park

What is the cost of living in New Hyde Park, NY?
The cost of living index in New Hyde Park, NY is 170 (US average = 100). Median monthly rent is $1,634, median household income is $146,571/year, and the median home value is $700,400.
Is New Hyde Park, NY affordable?
No, New Hyde Park is more expensive than the national average with a cost index of 170. The rent-to-income ratio is 13.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in New Hyde Park, NY?
The median gross rent in New Hyde Park, NY is $1,634 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $19,608.
What is the median household income in New Hyde Park?
The median household income in New Hyde Park, NY is $146,571 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%.