Statement from the National True Cost of Living Coalition on New York City’s Release of the True Cost of Living Measure

New York, NY (April 6, 2026) – New York City has released its first-ever True Cost of Living measure (TCOL) and racial equity plan, establishing a new standard and model for how the government calculates and assesses economic need and what it takes for individuals and families to thrive. Mandated by more than 80 percent of voters through a 2022 Charter Revision ballot initiative, the TCOL marks a significant shift away from outdated poverty metrics toward a more complete and realistic understanding of what it takes not just to survive, but to live with economic security.

Leaders from the National True Cost of Living Coalition issued the following statements:

Jennifer Jones Austin, CEO of FPWA, Co-Chair of National True Cost of Living Coalition, and Chair, NYC Racial Justice Commission (2021-2022):

“New Yorkers made clear in 2022 when voting on racial justice ballot measures that they wanted a government that sees everyone and understands what it truly costs to live in our city. For too long, government has relied on poverty measures that capture only the most extreme hardship, but now, with the TCOL, we have a measure that reflects the real cost of meeting basic needs and building economic security, including planning and saving for your future. I commend Mayor Mamdani and his administration for honoring the will of the voters by releasing this data. With this information now public, we have a clearer picture of the scale and depth of economic insecurity across New York City — and a real opportunity to use it to inform policy, strengthen programs, and ensure that economic security is not the exception, but the expectation for all New Yorkers.”

David R. Jones, President and CEO of the Community Service Society and Co-Chair of the National True Cost of Living Coalition:

“For years, families have been living with economic pressures that official government measures could not capture. Through our annual survey, we hear directly from New Yorkers about their struggles with housing, utilities, transportation, food, healthcare, and saving for retirement, and have learned that financial precarity reaches far beyond poverty, affecting low-, moderate-, and even higher-income households. The True Cost of Living reflects that reality and provides a more accurate benchmark for affordability in our city.”

Michael Nutter, Former Philadelphia Mayor and Steering Committee Member, National True Cost of Living Coalition:

“Our nation was founded on principles of freedom and liberty, but those ideals mean very little if Americans do not have economic security. For too long, we have made policy decisions based on measures that reflect only the bare minimum people need to survive, rather than what it truly takes to live with dignity. The true cost of living measure changes that.”

Darrick Hamilton, Founding Director of the Institute on Race, Power and Political Economy at the New School:

“Our poverty metrics have not kept pace with the affordability realities of the 21st century. What’s more, we need metrics that trend beyond subsistence to economic agency. New York City’s release presents a beacon of leadership that other cities and states can and should follow.”

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About the True Cost of Living Coalition:

The National True Cost of Living Coalition was founded in 2024 by two leading anti-poverty and advocacy organizations: the Federation of Protestant Welfare Agencies (FPWA) and the Community Service Society of New York (CSS). Concerned about the nation’s inability to both accurately measure what it costs individuals and families to live in America in the 21st century and govern accordingly because existing measures center on acute basic needs and not economic security, they brought together a broad-based group of policy experts and labor, business, philanthropic and community leaders to advocate for the adoption of a national true cost of living measure that would inform policy and programming at all levels of government, and help ensure that economic security is an attainable goal for all Americans.