Cold Spring Harbor 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.
IndexCold Spring HarborNew YorkNational
Cost of living index201120100
IndexCold Spring HarborNew YorkNational
Goods & Services index122110100
Groceries index134105100
Health care index11499100
Housing index383149100
Transportation index111111100
Utilities index126102100
An overview of the general cost of living index for Cold Spring Harbor, NY is displayed above for your reference. Residents in Cold Spring Harbor, NY enjoy a cost of living index of 201. This index is 67% higher than the New York average, and 101% higher 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 Cold Spring Harbor, NY, the average cost of goods and services is 11% higher than it is in New York, and it is 22% higher than the national average.

Did you know?

  • The cost of living in Cold Spring Harbor is 67% higher than the New York average.
  • The cost of living in Cold Spring Harbor is 101% higher than the national average.
  • The cost of housing in Cold Spring Harbor is 283% higher 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 Cold Spring Harbor

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Cold Spring Harbor

Compare Cold Spring Harbor, 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
Use the salary calculator to compare your current salary in Cold Spring Harbor, NY to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Cold Spring Harbor, NY, then you would need to earn more income in order to maintain the same standard of living. To use the Cold Spring Harbor, NY salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$157,679$13,140$3,679$4,731
Renters$131,328$10,944$3,064$3,940
One can approximate the cost of living and the housing affordability in Cold Spring Harbor, NY by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Cold Spring Harbor, NY have a median income of $157,679. Therefore, the amount that a consumer should spend on housing costs should be no more than $3,679 per month to avoid calamity and poverty. The renters in the city have an income of about $131,328, which would make their monthly maximum allowable rental costs $3,064.

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%
One thing to keep in mind when considering the cost of living in Cold Spring Harbor, NY is the New York sales tax and New York income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The New York sales tax rate is 4% and the maximum surtax that can be charged is 8.875%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The New York income tax rates range from 4% to 8.82%.

Goods & Services

ItemCold Spring HarborNational avg.Difference
Haircut $19.59$15.5625.9%
Beauty Salon $64.49$36.1178.6%
Toothpaste $3.04$2.4722.8%
Shampoo $0.98$0.961.2%
Movie $12.88$10.1327.2%
Bowling $7.01$4.7448.0%

Groceries

ItemCold Spring HarborNational avg.Difference
Ground Beef $5.75$3.9844.3%
Fried Chicken $1.66$1.4117.7%
Milk $2.70$2.0630.8%
Potatoes $5.37$2.9880.1%
Pizza $9.80$9.473.4%
Beer $9.94$8.7913.0%

Health Care

ItemCold Spring HarborNational avg.Difference
Optometrist $114.84$101.0413.7%
Doctor $124.85$107.4416.2%
Dentist $110.04$90.4221.7%
Ibuprofen $10.40$9.2812.1%
Lipitor $413.65$426.503.0%

Housing

ItemCold Spring HarborNational avg.Difference
Home Price $797,100.00$175,700.00353.7%
Avg. Mortgage Payment $2,269.26$1,133.23100.2%
Apartment Rent $2,001.00$920.00117.5%

Transportation

ItemCold Spring HarborNational avg.Difference
Gasoline $2.19$1.9910.0%
Tire Balancing $52.50$45.7614.7%

Utilities

ItemCold Spring HarborNational avg.Difference
All Electricity$237.81$163.8145.2%
Phone $29.01$28.392.2%
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.
Central Islip, NY36,23313232%
Brentwood, NY59,43613232%
Baywood, NY7,68113333%
North Amityville, NY19,60813333%
North Bay Shore, NY19,99513333%
Cold Spring Harbor, NY5,041201101%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
McGregor, TX5,04182-18%
Poolesville, MD5,04214545%
Wapato, WA5,04393-7%
Swoyersville, PA5,03896-4%
Salem, NJ5,04597-3%
Cold Spring Harbor, NY5,041201101%
Source: The Cold Spring Harbor, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.