Zohran Mamdani will earn $258,750 a year as New York City mayor, an increase of more than 80% from his $142,000 state assembly salary. He plans to move into Gracie Mansion rent-free, citing family safety and a need to focus on an affordability agenda. Forbes estimates his net worth at about $200,000; he currently pays roughly $2,300 per month in Astoria. The mayor also receives NYPD protection and city employee benefits.
Zohran Mamdani’s Mayoral Pay and Perks: $258,750 Salary and Rent-Free Gracie Mansion
Zohran Mamdani, currently a state assemblyman, is set to get a massive raise when he takes office as mayor of New York City.Angelina Katsanis / AFP via Getty Images
Zohran Mamdani will receive a $258,750 annual salary as mayor of New York City and plans to move into Gracie Mansion, the official mayoral residence on the Upper East Side. He has said the move reflects concerns about his family’s safety and his intention to focus fully on an affordability agenda for New Yorkers.
What He’ll Earn and Where He’ll Live
Mamdani’s mayoral salary — $258,750 a year — is a jump of more than 80% from his current $142,000 salary as a New York State assemblyman. As mayor he will live rent-free in Gracie Mansion, a two-story residence overlooking the East River that has housed nearly every recent mayor.
Financial Profile
Forbes estimates Mamdani’s net worth at roughly $200,000. He currently lives with his wife, Rama, in a rent-stabilized Astoria apartment where their reported monthly rent is about $2,300.
The exterior of Gracie Mansion in 2013.AP Photo/Seth Wenig
How This Pay Compares
New York City’s mayoral salary is higher than the typical pay for many federal lawmakers — for example, the $174,000 that most rank-and-file U.S. senators and House members receive — but it is below the mayoral pay in some other big cities. San Francisco’s mayor earns more than $380,000 and Los Angeles’s mayor earns just over $300,000. During his time as mayor, Mike Bloomberg famously declined the full salary and accepted $1 a year.
Perks and Protections
Beyond salary and housing, the mayor receives New York City Police Department protection and is eligible for city employee benefits, including health insurance. Gracie Mansion’s security and proximity to City Hall are among the reasons many mayors choose to reside there; Michael Bloomberg was a notable exception who lived elsewhere.
"I will be a mayor for the line cooks on Steinway, for the children swinging at Dutch Kills Playground, for the bus riders waiting for the Q101," Mamdani said. "While I may no longer live in Astoria, Astoria will always live inside me and the work I do."
Mamdani is scheduled to take office on January 1, 2026. He has framed the move to Gracie Mansion as a practical step to protect his family and to concentrate on delivering the affordability policies voters supported.
