EIA data · NY
New York: what each way of heating costs
The short answer
In New York, electricity averaged 28.60¢/kWh (10.6¢ above the US average). That puts mini-split heat at about $29 per million BTU at rated efficiency, versus $18 for natural gas. A heat pump loses on fuel cost at rated efficiency, and loses at 5°F.
Fuel prices are EIA SEDS 2024 residential averages per million BTU of fuel, divided by 90% furnace/boiler efficiency. Electricity is the EIA trailing-twelve-month residential average. Heat pump efficiency: ENERGY STAR median cold-climate system, HSPF2 10 (COP 2.93) rated, COP 2 at 5°F.
Cities in New York
| City | 99% design temp | Heat pump $/yr | Gas $/yr | Oil $/yr | Propane $/yr |
|---|---|---|---|---|---|
| New York | 19°F | $1,665 | $952 | $1,373 | $2,040 |
| Buffalo | 9°F | $1,999 | $1,091 | $1,572 | $2,337 |
| Albany | 7°F | $1,993 | $1,080 | $1,557 | $2,314 |
| Syracuse | 5°F | $1,987 | $1,071 | $1,544 | $2,295 |
| Rochester | 8°F | $1,977 | $1,078 | $1,555 | $2,311 |
| Binghamton | 5°F | $2,194 | $1,174 | $1,692 | $2,516 |
Keep going
- Cost-to-heat calculator: put in a ZIP for your own number instead of a state average.
- All city estimates, sizing by design temperature and incentives.
- States with a similar electricity price: Maine, Connecticut, New Hampshire, Massachusetts.
Questions people ask
What is the electricity price in New York?
EIA reports a residential average of 28.60¢/kWh for New York over September 2025 to August 2026; the latest month, August 2026, was 28.65¢/kWh. The US average over the same twelve months was 18.04¢/kWh.
Is a heat pump cheaper than natural gas in New York?
Per million BTU of delivered heat, a heat pump at its rated HSPF2 costs about $29 versus $18 for natural gas at 90% efficiency. At 5°F, when efficiency is lowest, the heat pump costs about $42 per million BTU.