Farmingdale 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.
IndexFarmingdaleNew YorkNational
Cost of living index144122100
IndexFarmingdaleNew YorkNational
Goods & Services index126112100
Groceries index122103100
Health care index115104100
Housing index198149100
Transportation index100122100
Utilities index132102100
An overview of the general cost of living index for Farmingdale, NY is displayed above for your reference. Residents in Farmingdale, NY enjoy a cost of living index of 144. This index is 19% higher than the New York average, and 44% 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 Farmingdale, NY, the average cost of goods and services is 12% higher than it is in New York, and it is 26% higher than the national average.

Did you know?

  • The cost of living in Farmingdale is 19% higher than the New York average.
  • The cost of living in Farmingdale is 44% higher than the national average.
  • The cost of housing in Farmingdale is 98% 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 Farmingdale

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Farmingdale

Compare Farmingdale, 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 Farmingdale, 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 Farmingdale, NY, you have to earn a higher income in order to still have the same standard of living. To operate the Farmingdale, 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$82,232$6,853$1,919$2,467
Renters$52,672$4,389$1,229$1,580
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Farmingdale, 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 Farmingdale, NY homeowners, is $82,232. This would allow for a maximum of $1,919 per month to be spent on housing costs. For renters, the median monthly income is $52,672 which would result in a maximum of $1,229 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%
The New York sales tax and New York income tax rates should definitely be considered when determining the overall cost of living in Farmingdale, 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

ItemFarmingdaleNational avg.Difference
Haircut $20.00$14.5937.0%
Beauty Salon $67.50$34.6894.6%
Toothpaste $4.04$2.4763.3%
Shampoo $0.88$1.0213.9%
Movie $14.75$9.8749.5%
Bowling $7.94$4.3980.8%

Groceries

ItemFarmingdaleNational avg.Difference
Ground Beef $3.99$4.4810.9%
Fried Chicken $1.04$1.4629.0%
Milk $2.26$2.364.1%
Potatoes $3.92$3.0628.0%
Pizza $10.00$9.248.2%
Beer $9.82$8.6313.8%

Health Care

ItemFarmingdaleNational avg.Difference
Optometrist $111.67$99.7811.9%
Doctor $123.75$105.0317.8%
Dentist $110.00$88.7024.0%
Ibuprofen $10.33$9.419.8%
Lipitor $299.00$298.500.2%

Housing

ItemFarmingdaleNational avg.Difference
Home Price $359,100.00$175,700.00104.4%
Avg. Mortgage Payment $2,127.00$1,081.0396.8%
Apartment Rent $1,670.00$920.0081.5%

Transportation

ItemFarmingdaleNational avg.Difference
Gasoline $2.06$2.091.5%
Tire Balancing $47.99$45.296.0%

Utilities

ItemFarmingdaleNational avg.Difference
All Electricity$262.56$170.8053.7%
Phone $29.01$28.262.7%
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, NY36,23313131%
Brentwood, NY59,43613131%
Baywood, NY7,68113232%
North Amityville, NY19,60813232%
North Bay Shore, NY19,99513232%
Farmingdale, NY8,30614444%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Jerseyville, IL8,30589-11%
Upper Saddle River, NJ8,304204104%
Earlimart, CA8,31095-5%
St. Joseph, MI8,31093-7%
Fairwood CDP (Spokane County), WA8,3121000%
Farmingdale, NY8,30614444%
Source: The Farmingdale, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.