Cost Of Living In Hamilton, NY

Hamilton 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.
Index	Hamilton	New York	National
Cost of living index	107	120	100
Index	Hamilton	New York	National
Goods & Services index	103	110	100
Groceries index	96	105	100
Health care index	99	99	100
Housing index	114	149	100
Transportation index	101	111	100
Utilities index	124	102	100

The above illustration supplies generalized information for the Hamilton, NY cost of living index. Compared to other cities in New York and cities across the country, the cost of living index in Hamilton, NY is 107, which is 11% lower than the New York average and 7% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Hamilton, NY are 6% lower than the average for New York and 3% higher than the rest of the country.

Did you know?

The cost of living in Hamilton is 11% lower than the New York average.
The cost of living in Hamilton is 7% higher than the national average.
The cost of housing in Hamilton is 14% 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.

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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 income in Hamilton, NY to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Hamilton, NY, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Hamilton, NY salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$96,875	$8,073	$2,260	$2,907
Renters	$28,542	$2,379	$666	$856

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Hamilton, NY, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Hamilton, NY homeowners have a median income of $96,875. Using that number, you will come up with a maximum of $2,260 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $28,542, which means there is a maximum of $666 to be spent on the costs of renting a home or apartment.

New York Sales Tax

State	General Sales Tax	With Max Surtax
New York	4%	8.875%

New York Income Tax

State	Income Tax (Low)	Income Tax (High)
New York	4%	8.82%

When considering the overall cost of living expenses in Hamilton, NY, it's important to take into account the sales tax for New York, as well as the rate for income tax in New York. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for New York is 8.875%, and the sales tax in the state of New York is 4%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in New York starts from 4% and goes up to 8.82%.

Goods & Services

Item	Hamilton	National avg.	Difference
Haircut	$11.89	$15.56	23.6%
Beauty Salon	$23.76	$36.11	34.2%
Toothpaste	$2.11	$2.47	14.5%
Shampoo	$0.96	$0.96	1.0%
Movie	$9.48	$10.13	6.3%
Bowling	$4.06	$4.74	14.3%

Groceries

Item	Hamilton	National avg.	Difference
Ground Beef	$3.67	$3.98	7.8%
Fried Chicken	$1.41	$1.41	0.1%
Milk	$2.14	$2.06	3.8%
Potatoes	$3.52	$2.98	18.0%
Pizza	$9.67	$9.47	2.0%
Beer	$9.03	$8.79	2.7%

Health Care

Item	Hamilton	National avg.	Difference
Optometrist	$119.86	$101.04	18.6%
Doctor	$109.25	$107.44	1.7%
Dentist	$85.05	$90.42	5.9%
Ibuprofen	$8.94	$9.28	3.6%
Lipitor	$415.04	$426.50	2.7%

Housing

Item	Hamilton	National avg.	Difference
Home Price	$218,200.00	$175,700.00	24.2%
Avg. Mortgage Payment	$1,074.41	$1,133.23	5.2%
Apartment Rent	$836.00	$920.00	9.1%

Transportation

Item	Hamilton	National avg.	Difference
Gasoline	$2.09	$1.99	4.7%
Tire Balancing	$42.21	$45.76	7.8%

Utilities

Item	Hamilton	National avg.	Difference
All Electricity	$138.90	$163.81	15.2%
Phone	$50.41	$28.39	77.6%

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, State	Population	Cost of Living Index	National Avg.
New Berlin, NY	1,240	88	-12%
Oriskany Falls, NY	836	88	-12%
Smyrna, NY	183	88	-12%
Munnsville, NY	473	90	-10%
Chadwicks, NY	2,087	90	-10%
Hamilton, NY	4,070	107	7%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Woodson Terrace, MO	4,070	85	-15%
Village Shires, PA	4,069	134	34%
Charleroi, PA	4,069	78	-22%
East Rockingham, NC	4,069	83	-17%
Lake Erie Beach, NY	4,068	85	-15%
Hamilton, NY	4,070	107	7%

Source: The Hamilton, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Hamilton, NY Cost of Living