Canastota 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.
IndexCanastotaNew YorkNational
Cost of living index90122100
IndexCanastotaNew YorkNational
Goods & Services index100112100
Groceries index104103100
Health care index112104100
Housing index60149100
Transportation index123122100
Utilities index91102100
A general summary of the cost of living index in Canastota, NY is shown above. Compared to the state average of New York the cost of living index in Canastota, NY is 90, which is 26% lower than the average in New York and compared to the national average it is 10% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Canastota, NY goods and services come in at 11% lower than the average in New York and are equal to compared to the nationwide average.

Did you know?

  • The cost of living in Canastota is 26% lower than the New York average.
  • The cost of living in Canastota is 10% lower than the national average.
  • The cost of housing in Canastota is 40% 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.

Find Real Estate Listings In Canastota

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Canastota

Compare Canastota, NY Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Using the salary calculator lets you compare the salary you earn in Canastota, NY to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Canastota, NY, you have to earn a higher income in order to still have the same standard of living. To operate the Canastota, NY salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$60,458$5,038$1,411$1,814
Renters$26,313$2,193$614$789
If you want to find a good determining factor for the cost of living and the general affordability of housing in Canastota, NY, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Canastota, NY, the median monthly income is $60,458 for those who own their own homes. Under the standard rule, that income level would allow for $1,411 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $26,313, per the median income in the area. That would allow for renters to spend up to $614 on monthly rental expenses.

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%
The New York sales tax and New York income tax rates should definitely be considered when determining the overall cost of living in Canastota, NY. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The New York sales tax is 4% and the maximum surtax is 8.875%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The New York income tax rates range from 4% to 8.82%.

Goods & Services

ItemCanastotaNational avg.Difference
Haircut $15.75$14.597.9%
Beauty Salon $34.25$34.681.2%
Toothpaste $3.08$2.4724.5%
Shampoo $1.51$1.0247.7%
Movie $10.50$9.876.4%
Bowling $4.00$4.398.9%

Groceries

ItemCanastotaNational avg.Difference
Ground Beef $4.41$4.481.5%
Fried Chicken $1.62$1.4610.7%
Milk $1.90$2.3619.4%
Potatoes $3.24$3.065.8%
Pizza $8.00$9.2413.4%
Beer $9.59$8.6311.1%

Health Care

ItemCanastotaNational avg.Difference
Optometrist $109.00$99.789.2%
Doctor $143.69$105.0336.8%
Dentist $87.00$88.701.9%
Ibuprofen $9.48$9.410.7%
Lipitor $320.90$298.507.5%

Housing

ItemCanastotaNational avg.Difference
Home Price $99,100.00$175,700.0043.6%
Avg. Mortgage Payment $1,281.68$1,081.0318.6%
Apartment Rent $643.00$920.0030.1%

Transportation

ItemCanastotaNational avg.Difference
Gasoline $2.63$2.0926.0%
Tire Balancing $51.93$45.2914.7%

Utilities

ItemCanastotaNational avg.Difference
All Electricity$179.24$170.804.9%
Phone $19.99$28.2629.3%
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.
Oriskany Falls, NY83687-13%
Verona, NY57688-12%
Bridgeport, NY1,58388-12%
Munnsville, NY47389-11%
Rome, NY33,16190-10%
Canastota, NY4,74190-10%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Smith Mills, MA4,74111919%
Flower Hill, NY4,741233133%
Boulder Creek, CA4,74114848%
Higginsville, MO4,74086-14%
Newton Falls, OH4,74078-22%
Canastota, NY4,74190-10%
Source: The Canastota, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.