Albion cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexAlbionNew YorkNational
Cost of living index92122100
IndexAlbionNew YorkNational
Goods & Services index116112100
Groceries index110103100
Health care index107104100
Housing index48149100
Transportation index111122100
Utilities index97102100
An overview of the general cost of living index for Albion, NY is displayed above for your reference. Residents in Albion, NY enjoy a cost of living index of 92. This index is 24% lower than the New York average, and 8% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Albion, NY, the average cost of goods and services is 3% higher than it is in New York, and it is 16% higher than the national average.

Did you know?

  • The cost of living in Albion is 24% lower than the New York average.
  • The cost of living in Albion is 8% lower than the national average.
  • The cost of housing in Albion is 52% lower than the national average.
  • New York general sales tax is 21% lower than the national average.
  • New York state income tax is 80% higher than the national average.

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Compare Albion, NY Cost of living To Other Cities

Salary Calculator

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The salary calculator is used in order to provide a comparison of your current salary in Albion, NY to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Albion, NY, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Albion, NY salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$55,255$4,605$1,289$1,658
Renters$17,863$1,489$417$536
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Albion, NY as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Albion, NY homeowners, is $55,255. This would allow for a maximum of $1,289 per month to be spent on housing costs. For renters, the median monthly income is $17,863 which would result in a maximum of $417 to be spent on rental costs.

New York Sales Tax

StateGeneral Sales TaxWith Max Surtax
New York4%8.875%

New York Income Tax

StateIncome Tax (Low)Income Tax (High)
New York4%8.82%
When you are determining the total cost of living in Albion, NY you will want to make sure you consider both the New York sales tax and the New York income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in New York is 4%, with the highest surtax being 8.875%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in New York have a range from 4% to 8.82%.

Goods & Services

ItemAlbionNational avg.Difference
Haircut $20.25$14.5938.8%
Beauty Salon $40.00$34.6815.3%
Toothpaste $1.99$2.4719.5%
Shampoo $0.99$1.023.1%
Movie $11.30$9.8714.5%
Bowling $4.45$4.391.3%

Groceries

ItemAlbionNational avg.Difference
Ground Beef $4.32$4.483.5%
Fried Chicken $1.97$1.4634.6%
Milk $2.62$2.3611.2%
Potatoes $3.39$3.0610.7%
Pizza $8.13$9.2412.0%
Beer $9.05$8.634.8%

Health Care

ItemAlbionNational avg.Difference
Optometrist $108.75$99.789.0%
Doctor $101.25$105.033.6%
Dentist $95.25$88.707.4%
Ibuprofen $9.89$9.415.1%
Lipitor $351.24$298.5017.7%

Housing

ItemAlbionNational avg.Difference
Home Price $71,800.00$175,700.0059.1%
Avg. Mortgage Payment $1,821.15$1,081.0368.5%
Apartment Rent $601.00$920.0034.7%

Transportation

ItemAlbionNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $58.76$45.2929.8%

Utilities

ItemAlbionNational avg.Difference
All Electricity$156.79$170.808.2%
Phone $29.75$28.265.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Medina, NY5,96293-7%
Lyndonville, NY79794-6%
Middleport, NY1,70694-6%
Holley, NY2,01194-6%
Oakfield, NY1,79794-6%
Albion, NY5,79992-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
The Village of Indian Hill, OH5,80218989%
Fruitridge Pocket, CA5,8021011%
Pontoon Beach, IL5,80488-12%
Rancho Murieta, CA5,80414242%
Prosser, WA5,79386-14%
Albion, NY5,79992-8%
Source: The Albion, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.