Pawn Shops vs Payday Loans in New York, NY

40 pawn shops in and around New York — 2.5 per 100,000 residents, compared with 1.6 across New York. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. New York ranks #18 of 36 New York cities with pawn shops by shops per resident.

Pawn shops

40

Pawn shops per 100k

2.5

New York: 1.6

Big-chain shops

8

Payday & loan stores

1

Population

1,617,259

Pawn shops in New York: addresses and phone numbers

Pawn shops vs payday loan stores in New York

New York has 40 pawn shops and 1 payday, installment and title loan stores.

Biggest loan store chains in New York: loanDepot (1).

Borrowing $500 for one month: payday vs pawn vs credit union

Payday cost, share of monthly household income in New York

1.6%

Pawn cost, share of monthly household income in New York

1.1%

A $400 emergency equals

1.3 days of income

Payday: a typical fee of $75 on a $500 loan for 2 weeks, paid twice for a one-month loan (New York payday rules are not set in dollars or payday loans are not allowed). Pawn: an example rate of 20% a month; pawn fees and interest are set by New York law and vary by shop — ask for the total in writing. PAL: payday alternative loan from a federal credit union, capped at 28% APR plus an application fee of up to $20.

Pawn loan vs payday loan: the key differences

New York at a glance

Median household income

$111,654

New York: $93,193

Poverty rate

15.7%

New York: 13.8%

Households under $25,000

19.1%

New York: 16.1%

A $400 emergency equals

1.3 days of income

Payday and installment loan stores in New York

For comparison: storefront payday, installment and title lenders in New York with addresses, phone numbers and hours.

Pawn shops near New York

• Astoria · 2
• Jackson Heights · 2
• Elmhurst · 2
• Ridgewood · 2