Peekskill, NY

Above Avg · 129

New York · Population 25,484 · Updated March 2026

$1,895
Median Rent / Month
$91,042
Median Income
$376,800
Median Home Value
$1,924
Owner Costs / Month

Affordability

How far your income goes in Peekskill

25.0%
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

$22,740
Annual Rent
$9,924
State Income Tax
$6,104
Property Tax (est.)

Cost of Living Overview

Peekskill has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 129 (where 100 equals the national median), Peekskill residents can expect to pay median rent of $1,895/month while earning a median household income of $91,042/year.

The median home value in Peekskill, NY is $376,800, with typical monthly owner costs around $1,924 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.0%, Peekskill 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 Peekskill.

Frequently Asked Questions

Common questions about living costs in Peekskill

What is the cost of living in Peekskill, NY?
The cost of living index in Peekskill, NY is 129 (US average = 100). Median monthly rent is $1,895, median household income is $91,042/year, and the median home value is $376,800.
Is Peekskill, NY affordable?
No, Peekskill is more expensive than the national average with a cost index of 129. The rent-to-income ratio is 25.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Peekskill, NY?
The median gross rent in Peekskill, NY is $1,895 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,740.
What is the median household income in Peekskill?
The median household income in Peekskill, NY is $91,042 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%.