The minimum wage in New York City is $17.00/hour in 2026. See how it compares to the MIT living wage of $26.50/hour and local cost of living.
Last updated: May 2026 · Data: MIT Living Wage Calculator, C2ER, U.S. Census, BLS, IRS, state and city sources
Calculate annual, monthly, and weekly income at any hourly wage in New York City.
The minimum wage in New York City is $17.00/hour, the higher downstate rate New York sets for New York City, Long Island, and Westchester County. New York sets a regional minimum wage; New York City, Long Island, and Westchester County use the higher downstate tier, which rose to $17.00 on January 1, 2026 and is indexed to inflation after that. The bigger question for most workers is how that compares to what it actually costs to live in New York City. With average 1-bedroom rent near $3,500/month and a cost-of-living index of 168 (US average = 100), the gap between the minimum wage and a true living wage can be significant.
| Benchmark (New York City, 2026) | Hourly | Annual (full-time) |
|---|---|---|
| Applicable minimum wage | $17.00 | $35,360 |
| MIT living wage (single adult) | $26.50 | $55,120 |
| MIT living wage (family of four, one earner) | $51.00 | $106,080 |
| Federal minimum wage | $7.25 | $15,080 |
| New York rest-of-state minimum | $16.00 | $33,280 |
| Average rent (1-bedroom, annual) | - | $42,000 |
Living wage figures: MIT Living Wage Calculator for the five boroughs. Minimum wage reflects the rate applicable to most private employers in New York City.
New York City is the largest city in the United States and a global capital of finance, media, technology, fashion, and the arts, with Wall Street, a dense headquarters economy, world-leading tourism, and the highest cost of living of any major U.S. metro.
| Local Metric | New York City (2026 estimate) |
|---|---|
| Metro population | 8.3 million |
| County / jurisdiction | the five boroughs |
| Cost of living index (US avg = 100) | 168 |
| MIT living wage, single adult | $26.50/hour |
| MIT living wage, one earner supporting a family of four | $51.00/hour |
| Applicable minimum wage | $17.00/hour |
| Average rent, 1-bedroom | $3,500/month |
| Average rent, 2-bedroom | $4,100/month |
| Median home price | $760,000 |
| Median household income | $76,000/year |
| Combined sales tax rate | 8.875% |
| Effective property tax rate | 0.88% of value/year |
Local figures are 2026 estimates compiled from the MIT Living Wage Calculator, the C2ER Cost of Living Index, U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
The minimum wage in New York City is $17.00/hour, the higher downstate rate New York sets for New York City, Long Island, and Westchester County. New York sets a regional minimum wage; New York City, Long Island, and Westchester County use the higher downstate tier, which rose to $17.00 on January 1, 2026 and is indexed to inflation after that. A full-time worker (40 hours/week, 52 weeks) earns about $35,360 per year gross before taxes at that rate.
Not for a single adult. The MIT Living Wage Calculator estimates a single adult in the five boroughs needs about $26.50/hour (roughly $55,120/year) to cover basic costs. That is $9.50/hour above the applicable minimum wage, and a one-earner family of four needs closer to $51.00/hour.
At $17.00/hour, full-time work (2,080 hours/year) produces about $35,360 gross. Part-time at 30 hours/week is roughly $26,520/year. Average 1-bedroom rent in New York City is about $3,500/month, or $42,000/year.
New York City uses the New York downstate minimum wage rather than a separate city ordinance. New York sets regional minimums and indexes them to inflation each year.
The federal minimum wage is $7.25/hour and has not changed since 2009. New York's higher state minimum applies in New York City instead.