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How much is a New York City medallion worth?

Since last year, the values of taxi medallions have inched upward for the first time in eight years. Based on sales data from the New York City Taxi and Limousine Commission (TLC), the average medallion value has climbed from its low point at $79,106 in May 2021 to $137,330 in May 2022.

How many NYC medallions are there?

ALBANY (CN) New York City is home to the nations largest taxi industry, with more than 13,000 medallions, the numbered metal plate that allows New York City taxi drivers to ply their trade.

Who is the largest owner of NYC taxi medallions?

On November 3 of last year, we broke our 15-day hunger strike with the news of a tentative agreement between the city, the New York Taxi Workers Alliance, and Marblegate, the largest taxi medallion lender in the industry.

Is taxi medallion worth buying?

If you were to have been handed down a medallion purchased in the late 30s, early 40s, you might have a mini-gold mine. But you are not going to gain fantastic returns with medallions unless you buy several and lease them out.

How much is it to lease a taxi medallion in NYC?

(i) An Owner who leases a Taxicab for one shift at the rate of $80 per shift can require up to an $80 security deposit. (ii) An Owner who leases a Taxicab or Medallion for one week at the rate of $500 a week can require up to a $500 security deposit.

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