Geneseo 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.
IndexGeneseoNew YorkNational
Cost of living index104122100
IndexGeneseoNew YorkNational
Goods & Services index116112100
Groceries index110103100
Health care index107104100
Housing index86149100
Transportation index111122100
Utilities index97102100
A general overview of the cost of living index for Geneseo, NY is displayed above. In Geneseo, NY, the overall cost of living index is 104, which is 15% lower than the New York average and 4% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Geneseo, NY, the city's goods and services are 3% higher than the New York average and 16% higher than the U.S. average.

Did you know?

  • The cost of living in Geneseo is 15% lower than the New York average.
  • The cost of living in Geneseo is 4% higher than the national average.
  • The cost of housing in Geneseo is 14% 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 Geneseo, NY Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Geneseo, 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 Geneseo, NY, you have to earn a higher income in order to still have the same standard of living. To operate the Geneseo, 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$92,604$7,717$2,161$2,778
Renters$15,739$1,312$367$472
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Geneseo, NY, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Geneseo, NY has a median income of about $92,604 for people who own homes. Based on that number, a person should spend a maximum of $2,161 on expenses related to housing. Renters have a slightly different median income, which is $15,739. Based on this average, renters should spend no more than $367 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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%
For those who live in Geneseo, NY and want to know what the true cost of living is, they ought to look at both the New York income tax rate and the New York sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In New York, the sales tax is 4%, while the most you'll pay in surtax is 8.875%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in New York, the income tax rate ranges between 4% to 8.82%.

Goods & Services

ItemGeneseoNational 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

ItemGeneseoNational 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

ItemGeneseoNational 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

ItemGeneseoNational avg.Difference
Home Price $157,600.00$175,700.0010.3%
Avg. Mortgage Payment $1,821.15$1,081.0368.5%
Apartment Rent $719.00$920.0021.8%

Transportation

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

Utilities

ItemGeneseoNational 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.
Websters Crossing, NY1111111%
Tuscarora, NY011111%
Kysorville, NY15086-14%
Scottsburg, NY11890-10%
Mount Morris, NY2,61092-8%
Geneseo, NY8,0431044%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Fair Plain, MI8,04385-15%
Brookhaven, PA8,0451088%
Kenilworth, NJ8,04513333%
Lugoff, SC8,03993-7%
Brentwood, MO8,0481044%
Geneseo, NY8,0431044%
Source: The Geneseo, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.