State Comparison
New York vs Texas
Side-by-side comparison of 16 financial metrics using documented public datasets and estimates, with sources listed below.
Overall Score
Cost of Living
Housing
Taxes
Income & Employment
Business
Insurance & Living
Key Takeaways
- 1
Texas leads in 9 of 16 financial metrics, making it the more favorable state overall.
- 2
Housing: Median home prices are $526,000 in New York vs $303,000 in Texas — a $223,000 difference.
- 3
Taxes: New York has a 10.9% top income tax rate while Texas has no income tax. Property tax rates are 1.3% vs 1.4%.
- 4
Cost of Living: New York's index is 124.7 and Texas's is 90.7 (national average = 100).
Run the Numbers
Use our free calculators with real New York and Texas data to model your specific scenario.
Frequently Asked Questions
Is New York or Texas more affordable?
Texas has a lower cost of living index (90.7) compared to New York (124.7), where 100 is the national average. However, affordability depends on your specific situation — compare housing, taxes, and income together for a complete picture.
Which state has lower taxes — New York or Texas?
It depends on what you earn, spend, and own — the three rates below apply to different bases (income, purchases, and home value), so they cannot be added into a single burden figure. On the headline rates alone, Texas is lower on more of them. New York has a 10.9% top income tax, 4% state sales tax, and a 1.3% effective property tax rate. Texas has no income tax, 6.25% state sales tax, and a 1.4% effective property tax rate.
What are housing costs in New York vs Texas?
The typical home value in New York is $526,000 compared to $303,000 in Texas (Zillow Home Value Index, June 2026). For renters, HUD's FY2026 Fair Market Rent for a 2-bedroom unit — the 40th-percentile gross rent, not an average — is $2,520/month in New York vs $1,557/month in Texas.
Which state is better for starting a business — New York or Texas?
LLC filing costs are $200 in New York vs $300 in Texas, with annual fees of $9 and $0 respectively. New York's 10.9% top tax rate compared to Texas's tax-free status may also factor into your decision.
Should I move from New York to Texas?
It depends on your priorities. Texas wins in 9 of 16 metrics we compared. Use our free calculators to model your specific financial scenario — including salary, property tax, and cost of living for each state.
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Related Comparisons
Comparing New York and Texas
When deciding between living in New York or Texas, the financial picture goes beyond just one metric. This comparison analyzes 16 key financial indicators drawn from the U.S. Census Bureau (American Community Survey), the Tax Foundation, HUD Fair Market Rents, Zillow's Home Value Index, the NAIC's insurance databases, the U.S. Department of Labor, C2ER's Cost of Living Index, and state agencies, to give you a comprehensive overview.
New York (NY) has a median household income of $85,820 with a cost of living index of 124.7. Texas (TX) has a median household income of $79,721 with a cost of living index of 90.7. Income figures are Census ACS 1-year estimates (table B19013, 2024); the cost-of-living index is C2ER's Q1 2026 survey via MERIC, where 100 is the national average of surveyed cities.
These numbers are estimates. Individual circumstances vary based on location within each state, family size, profession, and lifestyle. Use our free New York calculator or Texas calculator to model your specific financial scenario.
Sources per metric are named in each row's note above. Last reviewed . Some values are estimates; consult a qualified professional for financial advice.