Riverhead, NY

Very High · 146

New York · Population 15,073 · Updated March 2026

$2,208
Median Rent / Month
$83,521
Median Income
$449,000
Median Home Value
$1,922
Owner Costs / Month

Affordability

How far your income goes in Riverhead

31.7%
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

$26,496
Annual Rent
$9,104
State Income Tax
$7,274
Property Tax (est.)

Cost of Living Overview

Riverhead has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 146 (where 100 equals the national median), Riverhead residents can expect to pay median rent of $2,208/month while earning a median household income of $83,521/year.

The median home value in Riverhead, NY is $449,000, with typical monthly owner costs around $1,922 including mortgage, insurance, and taxes. At 31.7% rent-to-income ratio, residents of Riverhead are spending more than the recommended 30% of income on housing, indicating moderate cost burden.

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 Riverhead.

Frequently Asked Questions

Common questions about living costs in Riverhead

What is the cost of living in Riverhead, NY?
The cost of living index in Riverhead, NY is 146 (US average = 100). Median monthly rent is $2,208, median household income is $83,521/year, and the median home value is $449,000.
Is Riverhead, NY affordable?
No, Riverhead is more expensive than the national average with a cost index of 146. The rent-to-income ratio is 31.7%—above the 30%% affordability threshold.
What is the average rent in Riverhead, NY?
The median gross rent in Riverhead, NY is $2,208 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $26,496.
What is the median household income in Riverhead?
The median household income in Riverhead, NY is $83,521 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%.