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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.
For a five-mile cab ride, New York came in at 46th and for a ten-mile ride, it ranked 47th. In each category, New York was less expensive than Boston, Los Angeles, San Francisco, and San Jose. This trend holds true, even after the 2012 fare increase. New York is more expensive than the national average, however 2.