New York has always been associated with a high cost of living, but certain areas spend substantially more money on necessities than others. There are 13 cities where residents pay at least $10,000 on necessities monthly, according to a new study from GOBankingRates.
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GOBankingRates found the most expensive places to live in New York by isolating the metros with the highest 2025 home values and total populations over 2,500. Data analyzed for each qualifying city included their 2025 average home value, monthly mortgage payments and monthly and annual costs for groceries, utilities, healthcare and transportation. The mortgage payments were combined with grocery, utility, healthcare and transportation costs to determine the monthly and annual necessity costs of each city.
See the 20 most expensive places to live in New York, ranked by highest to lowest annual necessity costs. After, check out Florida’s 25 most expensive cities to live in.
1. Sands Point
- Costs of just necessities (annually): $209,951
- Costs of just necessities (monthly): $17,496
- 2025 average home value: $2,986,180
- Monthly mortgage payment: $14,787
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2. Old Westbury
- Costs of just necessities (annually): $190,670
- Costs of just necessities (monthly): $15,889
- 2025 average home value: $2,684,811
- Monthly mortgage payment: $13,295
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3. Muttontown
- Costs of just necessities (annually): $160,370
- Costs of just necessities (monthly): $13,364
- 2025 average home value: $2,160,010
- Monthly mortgage payment: $10,696
4. Lloyd Harbor
- Costs of just necessities (annually): $159,429
- Costs of just necessities (monthly): $13,286
- 2025 average home value: $2,203,390
- Monthly mortgage payment: $10,911
5. Manhasset
- Costs of just necessities (annually): $155,534
- Costs of just necessities (monthly): $12,961
- 2025 average home value: $2,084,822
- Monthly mortgage payment: $10,324
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6. Southampton
- Costs of just necessities (annually): $154,626
- Costs of just necessities (monthly): $12,885
- 2025 average home value: $2,150,995
- Monthly mortgage payment: $10,651
7. Montauk
- Costs of just necessities (annually): $146,703
- Costs of just necessities (monthly): $12,225
- 2025 average home value: $2,024,410
- Monthly mortgage payment: $10,024
8. Larchmont
- Costs of just necessities (annually): $131,800
- Costs of just necessities (monthly): $10,983
- 2025 average home value: $1,710,271
- Monthly mortgage payment: $8,469
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9. Cold Spring Harbor
- Costs of just necessities (annually): $127,312
- Costs of just necessities (monthly): $10,609
- 2025 average home value: $1,665,099
- Monthly mortgage payment: $8,245
10. Roslyn
- Costs of just necessities (annually): $126,942
- Costs of just necessities (monthly): $10,579
- 2025 average home value: $1,608,932
- Monthly mortgage payment: $7,967
11. Bronxville
- Costs of just necessities (annually): $125,516
- Costs of just necessities (monthly): $10,460
- 2025 average home value: $1,616,827
- Monthly mortgage payment: $8,006
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12. Armonk
- Costs of just necessities (annually): $124,222
- Costs of just necessities (monthly): $10,352
- 2025 average home value: $1,606,764
- Monthly mortgage payment: $7,956
13. Great Neck
- Costs of just necessities (annually): $121,748
- Costs of just necessities (monthly): $10,146
- 2025 average home value: $1,518,298
- Monthly mortgage payment: $7,518
14. Roslyn Heights
- Costs of just necessities (annually): $111,914
- Costs of just necessities (monthly): $9,326
- 2025 average home value: $1,344,454
- Monthly mortgage payment: $6,657
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15. Chappaqua
- Costs of just necessities (annually): $111,594
- Costs of just necessities (monthly): $9,299
- 2025 average home value: $1,393,076
- Monthly mortgage payment: $6,898
16. East Williston
- Costs of just necessities (annually): $111,274
- Costs of just necessities (monthly): $9,273
- 2025 average home value: $1,348,494
- Monthly mortgage payment: $6,677
17. Westhampton
- Costs of just necessities (annually): $108,662
- Costs of just necessities (monthly): $9,055
- 2025 average home value: $1,373,944
- Monthly mortgage payment: $6,803
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18. Glen Head
- Costs of just necessities (annually): $108,155
- Costs of just necessities (monthly): $9,013
- 2025 average home value: $1,293,022
- Monthly mortgage payment: $6,403
19. Pelham
- Costs of just necessities (annually): $108,027
- Costs of just necessities (monthly): $9,002
- 2025 average home value: $1,321,548
- Monthly mortgage payment: $6,544
20. Garden City
- Costs of just necessities (annually): $107,495
- Costs of just necessities (monthly): $8,958
- 2025 average home value: $1,278,953
- Monthly mortgage payment: $6,333
View more original studies and surveys in the GOBankingRates original research center.
Editor’s note: Photos are for representational purposes only and might not reflect the exact locations listed.
Methodology: For this piece, GOBankingRates looked at cities in New York with the highest 2025 home values, as sourced from Zillow’s August 2025 data, AND total populations above 2,500, as sourced from the U.S. Census 2023 American Community Survey. With these cities isolated, GOBankingRates found the following for each qualified city: (1) 2025 average home value; (2) monthly and annual mortgage payments assuming 20% down, 30-year fixed rate mortgage at 6.30% as sourced from Freddie Mac and assuming no HOA fees, no PMI, and no property tax; (3) monthly and annual grocery costs; (4) monthly and annual utilities costs; (5) monthly and annual healthcare costs; and (6) monthly and annual transportation costs. Factors (3) thru (6) were calculated by finding national averages for each category, as sourced from the 2023 Consumer Expenditure Survey as conducted by the Bureau of Labor Statistics, and factoring in the individual cities’ cost-of-living index by category, as sourced from Sperling’s BestPlaces. GOBankingRates then combined factors (2) through (6) to find each city’s (7) monthly and annual cost of necessities. Factor (7) was the only factor in determining rankings. All data was collected on Oct. 13, 2025.
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This article originally appeared on GOBankingRates.com: 20 Most Expensive Places To Live in New York
