Median rent is 4% lower in New York ($1,779/mo vs $1,845/mo). Buying is cheaper in New York, where the median home runs $751,700 versus $818,300. Households earn more in New York ($79,713 vs $77,605 a year).
City A
Monterey Park, CA
City B
New York, NY
How much would you need to earn in New York, NY to maintain your standard of living from Monterey Park, CA?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Monterey Park
California
New York
New York
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rents are similar in both cities: $1,845/mo in Monterey Park and $1,779/mo in New York. Median home values are within 8% of each other: $818,300 in Monterey Park and $751,700 in New York.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
California's top income tax rate is 13.30% versus 10.90% in New York, so New York is more tax-friendly for high earners. Sales tax is 7.25% in California and 4.00% in New York; New York has the lower rate (local add-ons may apply in both).
Monterey Park
Income tax: 13.30%
Sales tax: 7.25%
New York
Income tax: 10.90%
Sales tax: 4.00%
Air quality data is available for New York (avg AQI 61.0) but not yet for Monterey Park.
Pick New York if you prioritize lower state income tax (10.90%).
Is Monterey Park cheaper than New York?
Cost of living index data is not yet available for one or both cities.
How much is rent in Monterey Park vs New York?
Median rent is $1,845/mo in Monterey Park, CA and $1,779/mo in New York, NY. New York, NY has the lower rent by about 4%.
Which has higher salaries — Monterey Park or New York?
Median household income is $77,605 in Monterey Park, CA and $79,713 in New York, NY. New York, NY has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Monterey Park or New York?
California's top income tax rate is 13.30% and New York's is 10.90%. New York, NY has the lower rate.
What salary do I need in New York to match my Monterey Park income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology