how much does a new york taxi medallion cost
Taxicabs of New York City Starting in 2011, medallion prices dropped considerably likely due to competition from ride-share services.[92] As of October 2016[update], medallion prices had dropped to around $500,000 in value, with one medallion dropping to $250,000.[105] There was also a decrease in taxi usage: in November 2016, there were 336,737 daily trips that netted $4.98 million, a decrease from the 463,701 daily trips netting $5.17 million in November 2010.[106][107] However, in mid-2016, after a five-year decline, taxi usage began to increase again.[93] Due to this competition, medallion owners sued the city and Uber in November 2015.[108] By 2017, the 60,000 ride share vehicles in New York City outnumbered the city's medallion vehicles at a ratio of almost 4 to 1,[106] and many medallion owners faced the prospect of bankruptcy or severe debt because of the low medallion prices, which few entities were willing to buy.[92][109] Medallion holders had trouble making payments on the loans that they borrowed to pay for the medallions.[109]
New York metropolitan area The New York metropolitan area remains, by a significant margin, the most populous in the United States, as defined by both the Metropolitan Statistical Area (20.3 million residents in 2017)[1] and the Combined Statistical Area (23.7 million residents in 2016);[5] it is also one of the most populous urban agglomerations in the world, and the single largest in North America.[6][7][8] The New York metropolitan area continues to be the premier gateway for legal immigration to the United States,[9][10][11][12] with the largest foreign-born population of any metropolitan region in the world. The MSA covers 6,720 sq mi (17,405 km2), while the CSA area is 13,318 sq mi (34,493 km2), encompassing an ethnically and geographically diverse region. The New York metropolitan area's population is larger than that of the state of New York, and the metropolitan airspace accommodated over 130 million passengers in 2016.[13]