Is New York, NY affordable on a $1,075,000 salary?
YES
On $1,075,000/yr, the typical $730,949 home in New York, NY needs $228,847/yr ($5,340/mo). Your gap: +$846,153 — housing would be 6% of your gross income.
The math
730,949 price − 10% down (73,095) = 657,854 loan
30-yr fixed at 7.18% on 657,854 = 4,457/mo principal+interest
+ 883/mo est. taxes+insurance (1.45%/yr of value — national placeholder)
5,340/mo PITI ÷ 0.28 = 19,071/mo → 228,847/yr required
against Zillow ZHVI 2026-09 and the 7.18% FRED 30-yr rate (2026-11-05).
What salary WOULD clear New York, NY?
You need about $228,847/yr for the typical home. On $1,075,000 you already clear it by $846,153.