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As a result, their value rose tremendously. Every cab in New York City has to have a medallion. And the city strictly limits the number â currently just over 13,000. So as New York has prospered over the past few decades, the price of medallions has gone through the roof.The maximum amount a cab leased out to drivers can earn over a year is $82,524.acob Goldstein has a similar theory. Every cab in New York City has to have a medallion. And the city strictly limits the number â currently just over 13,000. So as New York has prospered over the past few decades, the price of medallions has gone through the roof.
In addition to parking, the price of gas in New York is often 5-10% higher than the national average, and insurance can also be pricey. According to carinsurance.com, the average insurance rate for drivers in Manhattan tops $4,000 per year.f youâre okay giving up your car, New Yorkâs public transportation system is one of the best in the countryâand one of the most expensive. A monthly transit pass in New York costs $116.50 per month, about 75% greater than the national average.