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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.
According to an April 2011 study by the Chicago Dispatcher, New York City taxis have a relatively low standard fare, charging an estimated $14.10 for a distance of five miles and five minutes wait time (compared to an estimated $18.48 in West Hollywood, CA and $12.87 in Houston, TX).ccording to an April 2011 study by the Chicago Dispatcher, New York City taxis have a relatively low standard fare, charging an estimated $14.10 for a distance of five miles and five minutes wait time (compared to an estimated $18.48 in West Hollywood, CA and $12.87 in Houston, TX).