Zohran Mamdani defied expectations in the 2025 New York City mayoral race, connecting with younger voters through social media and grassroots campaigning while centering issues like affordability and housing. On January 1, 2026, he was sworn in as the city’s 112th mayor in a private midnight ceremony, making history as the first Muslim, first South Asian and youngest in generations to hold the office. Mamdani took his oath on a Quran chosen for its symbolic ties to his family and the city’s diversity, underscoring the historic moment as he began his term.
By his side throughout the campaign and at his inauguration has been his wife, Rama Duwaji, a Syrian-American artist, illustrator and animator who now serves as New York City’s First Lady.
Since Mamdani’s election has kept housing and economic issues at the forefront, many New Yorkers are also curious about his personal finances, including his income and overall net worth. Keep reading to find out how much money Mamdani makes and his overall net worth.
How Much Does Zohran Mamdani Pay for Rent?
Before taking office, Mamdani lived in a rent-stabilized apartment in Astoria, Queens, where he paid about $2,250 per month in rent, per Forbes. As New York City’s mayor, Mamdani now resides at the official mayoral residence, Gracie Mansion, which is provided as part of the role.
How Much Money Does Zohran Mamdani Make Now? His Income Explained
Before becoming mayor, Mamdani earned an annual salary of about $142,000 as a New York State assemblyman, according to Forbes. Now that he has taken office as New York City’s mayor, Mamdani earns a salary of just over $258,000 per year, which is the standard pay for the position, per Business Insider.
What Is Zohran Mamdani’s Total Net Worth?
More than 20 years after he and his parents immigrated from Kampala, Uganda, to Cape Town, South Africa, and finally, to New York City, Mamdani still has assets back in Africa. In 2012, he acquired four acres of land in Jinja, a region of Uganda that borders Lake Victoria, per Forbes. According to the outlet, Mamdani listed the land’s value at somewhere between $150,000 to $250,000 in the disclosure he filed.
In the disclosure report he filed as a mayoral candidate, Mamdani indicated that he acquired the land in Jinja in 2016 and that it’s still vacant.
A person’s total net worth involves calculating their assets. Mamdani’s known asset is the land he got in Jinja, but he does not own a home in the U.S., nor does he have a car. Instead, he takes the subway.
How Much Money Does Zohran Mamdani’s Family Have?
According to data for Columbia from the American Association of University Professors, Mamdani’s father, Mahmood Mamdani, earns somewhere between $200,000 and $300,000 per year as a professor. Both he and Mamdani’s mother, Mira Nair, reportedly still live in Columbia-owned housing located on the Upper West Side of Manhattan.
Mamdani’s parents had a three-bedroom apartment listed for $6,000 in 2017, according to Forbes and StreetEasy, and Nair once owned a condo in Chelsea and sold it for $1.45 million in 2019.
