The answer is: it depends.
85k is a good salary in New York City if you’re a teacher, but it’s a very bad salary if you’re a developer. The average cost of living in New York City is $1,324/month, which means that 85k would be enough to get by on if you were living alone and paying rent or owning your own home. However, housing prices are very high—and they go up every year.
If you lived with roommates or had family nearby who could help out with the bills and food costs, then 85k would be an excellent salary for NYC. But if you don’t have support from outside sources (like roommates or family), then it may not be enough to live comfortably in New York City on its own.
Is 85k A Good Salary In Nyc
Living Wage Calculation for New York County, New York
The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. The assumption is the sole provider is working full-time (2080 hours per year). The tool provides information for individuals, and households with one or two working adults and zero to three children. In the case of households with two working adults, all values are per working adult, single or in a family unless otherwise noted.
The state minimum wage is the same for all individuals, regardless of how many dependents they may have. Data are updated annually, in the first quarter of the new year. State minimum wages are determined based on the posted value of the minimum wage as of January one of the coming year (National Conference of State Legislatures, 2019). The poverty rate reflects a person’s gross annual income. We have converted it to an hourly wage for the sake of comparison.
For further detail, please reference the technical documentation here.
| 1 ADULT | 2 ADULTS(1 WORKING) | 2 ADULTS(BOTH WORKING) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 Children | 1 Child | 2 Children | 3 Children | 0 Children | 1 Child | 2 Children | 3 Children | 0 Children | 1 Child | 2 Children | 3 Children | |
| Living Wage | $25.42 | $43.18 | $53.00 | $69.90 | $34.09 | $40.11 | $46.06 | $51.07 | $17.04 | $23.32 | $29.56 | $35.32 |
| Poverty Wage | $6.19 | $8.38 | $10.56 | $12.74 | $8.38 | $10.56 | $12.74 | $14.92 | $4.19 | $5.28 | $6.37 | $7.46 |
| Minimum Wage | $15.00 | $15.00 | $15.00 | $15.00 | $15.00 | $15.00 | $15.00 | $15.00 | $15.00 | $15.00 | $15.00 | $15.00 |
Typical Expenses
These figures show the individual expenses that went into the living wage estimate. Their values vary by family size, composition, and the current location.
| 1 ADULT | 2 ADULTS(1 WORKING) | 2 ADULTS(BOTH WORKING) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 Children | 1 Child | 2 Children | 3 Children | 0 Children | 1 Child | 2 Children | 3 Children | 0 Children | 1 Child | 2 Children | 3 Children | |
| Food | $3,891 | $5,734 | $8,613 | $11,425 | $7,133 | $8,878 | $11,446 | $13,934 | $7,133 | $8,878 | $11,446 | $13,934 |
| Child Care | $0 | $10,822 | $21,644 | $32,466 | $0 | $0 | $0 | $0 | $0 | $10,822 | $21,644 | $32,466 |
| Medical | $2,741 | $7,718 | $7,505 | $7,815 | $5,591 | $7,505 | $7,815 | $7,604 | $5,591 | $7,505 | $7,815 | $7,604 |
| Housing | $22,852 | $26,656 | $26,656 | $33,732 | $23,384 | $26,656 | $26,656 | $33,732 | $23,384 | $26,656 | $26,656 | $33,732 |
| Transportation | $4,244 | $7,531 | $9,791 | $11,565 | $7,531 | $9,791 | $11,565 | $12,560 | $7,531 | $9,791 | $11,565 | $12,560 |
| Civic | $3,207 | $5,149 | $6,361 | $8,307 | $5,149 | $6,361 | $8,307 | $6,603 | $5,149 | $6,361 | $8,307 | $6,603 |
| Other | $5,275 | $7,867 | $7,197 | $10,471 | $7,867 | $7,197 | $10,471 | $10,128 | $7,867 | $7,197 | $10,471 | $10,128 |
| Required annual income after taxes | $42,333 | $71,600 | $87,891 | $115,904 | $56,779 | $66,511 | $76,382 | $84,684 | $56,779 | $77,333 | $98,026 | $117,150 |
| Annual taxes | $10,530 | $18,214 | $22,359 | $29,485 | $14,124 | $16,920 | $19,431 | $21,543 | $14,124 | $19,673 | $24,937 | $29,802 |
| Required annual income before taxes | $52,863 | $89,815 | $110,249 | $145,388 | $70,903 | $83,431 | $95,813 | $106,227 | $70,903 | $97,006 | $122,963 | $146,952 |
Typical Annual Salaries
These are the typical annual salaries for various professions in this location.
| Occupational Area | Typical Annual Salary |
|---|---|
| Management | $155,118 |
| Business & Financial Operations | $90,383 |
| Computer & Mathematical | $102,164 |
| Architecture & Engineering | $88,703 |
| Life, Physical, & Social Science | $74,911 |
| Community & Social Service | $55,266 |
| Legal | $120,375 |
| Education, Training, & Library | $69,903 |
| Arts, Design, Entertainment, Sports, & Media | $75,638 |
| Healthcare Practitioners & Technical | $87,751 |
| Healthcare Support | $34,604 |
| Protective Service | $54,912 |
| Food Preparation & Serving Related | $32,817 |
| Building & Grounds Cleaning & Maintenance | $37,600 |
| Personal Care & Service | $34,368 |
| Sales & Related | $39,954 |
| Office & Administrative Support | $47,208 |
| Farming, Fishing, & Forestry | $35,952 |
| Construction & Extraction | $63,365 |
| Installation, Maintenance, & Repair | $56,582 |
| Production | $40,767 |
| Transportation & Material Moving | $39,975 |
