Highland Falls 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.
IndexHighland FallsNew YorkNational
Cost of living index124122100
IndexHighland FallsNew YorkNational
Goods & Services index126112100
Groceries index122103100
Health care index115104100
Housing index128149100
Transportation index100122100
Utilities index132102100
The above illustration supplies generalized information for the Highland Falls, NY cost of living index. Compared to other cities in New York and cities across the country, the cost of living index in Highland Falls, NY is 124, which is 1% higher than the New York average and 24% 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 Highland Falls, NY are 12% higher than the average for New York and 26% higher than the rest of the country.

Did you know?

  • The cost of living in Highland Falls is 1% higher than the New York average.
  • The cost of living in Highland Falls is 24% higher than the national average.
  • The cost of housing in Highland Falls is 28% 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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Compare Highland Falls, NY Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Highland Falls, 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 Highland Falls, NY, then you would need to earn more income in order to maintain the same standard of living. To use the Highland Falls, 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$98,092$8,174$2,289$2,943
Renters$49,567$4,131$1,156$1,487
If you want to find a good determining factor for the cost of living and the general affordability of housing in Highland Falls, 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 Highland Falls, NY, the median monthly income is $98,092 for those who own their own homes. Under the standard rule, that income level would allow for $2,289 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $49,567, per the median income in the area. That would allow for renters to spend up to $1,156 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%
One thing to keep in mind when considering the cost of living in Highland Falls, 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

ItemHighland FallsNational 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

ItemHighland FallsNational 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

ItemHighland FallsNational 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

ItemHighland FallsNational avg.Difference
Home Price $229,700.00$175,700.0030.7%
Avg. Mortgage Payment $2,127.00$1,081.0396.8%
Apartment Rent $1,112.00$920.0020.9%

Transportation

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

Utilities

ItemHighland FallsNational 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.
Mountain Lodge Park, NY1,98311616%
Newburgh, NY28,61411616%
Maybrook, NY3,02211717%
Vails Gate, NY3,47711919%
Walden, NY6,91912121%
Highland Falls, NY3,85212424%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Medina, TN3,85299-1%
Bishop, CA3,85111818%
Thompsonville, PA3,85311111%
Ravenswood, WV3,85382-18%
Citrus City, TX3,85366-34%
Highland Falls, NY3,85212424%
Source: The Highland Falls, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.