GITNUX MARKETDATA REPORT 2024

New York City Income Statistics [Fresh Research]

In this post, we will explore key income statistics for New York City, shedding light on the socioeconomic landscape of one of the most populous and diverse urban areas in the United States. From median household incomes to income inequality measures, these statistics provide a nuanced understanding of the financial disparities and challenges faced by residents in different neighborhoods and industries across the city.

Statistic 1

"The median household income in New York City was $68,259 in 2019."

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Statistic 2

"In 2018, New York City had the highest average personal income ($174,717) among large US counties."

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Statistic 3

"Per capita income for New York City was $42,235 in 2019."

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Statistic 4

"In 2018, the top 1% of New York City residents earned 45% of the city’s total income."

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Statistic 5

"New York City’s poverty rate was 17.3% in 2019."

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Statistic 6

"In 2019, 31.6% of NYC households had incomes below $35,000."

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Statistic 7

"In 2019, 16.1% of NYC households had incomes between $35,000 and $49,999."

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Statistic 8

"In 2019, 23.0% of NYC households had incomes between $50,000 and $99,999."

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Statistic 9

"In 2019, 29.3% of NYC households had incomes of $100,000 or more."

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Statistic 10

"Roughly 11% of NYC households earned over $200,000 in 2019."

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Statistic 11

"NYC’s Gini Index of income inequality was 0.54 in 2018."

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Statistic 12

"Harlem in Manhattan had the highest poverty rate (33.2%) among NYC neighborhoods in 2019."

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Statistic 13

"In 2019, 29.4% of New Yorkers aged 25 and older without a high school diploma lived in poverty."

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Statistic 14

"Out of all major industries in NYC, finance and insurance had the highest median income ($162,924) in 2019."

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The statistics on income distribution in New York City reveal a city of stark contrasts. While the average personal income and top earners in the city are among the highest in the nation, a significant portion of the population still experiences poverty and low household incomes. The concentration of wealth at the top is evident from the fact that the top 1% earn nearly half of the city’s total income. Income inequality, as indicated by the Gini Index, remains a pressing issue. The data highlights the need for targeted policies to address poverty, improve education opportunities, and promote more equitable income distribution across the city.

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