Hornell, NY Cost Of Living

Hornell 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	Hornell	New York	National
Cost of living index	85	119	100
Index	Hornell	New York	National
Goods & Services index	104	109	100
Groceries index	101	108	100
Health care index	94	99	100
Housing index	44	145	100
Transportation index	110	108	100
Utilities index	92	102	100

An overview of the general cost of living index for Hornell, NY is displayed above for your reference. Residents in Hornell, NY enjoy a cost of living index of 85. This index is 29% lower than the New York average, and 15% lower 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 Hornell, NY, the average cost of goods and services is 5% lower than it is in New York, and it is 4% higher than the national average.

Did you know?

The cost of living in Hornell is 29% lower than the New York average.
The cost of living in Hornell is 15% lower than the national average.
The cost of housing in Hornell is 56% 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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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator is used in order to provide a comparison of your current salary in Hornell, NY to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Hornell, NY, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Hornell, NY salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$56,174	$4,681	$1,311	$1,685
Renters	$25,656	$2,138	$599	$770

The affordability of the housing market in Hornell, NY as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Hornell, NY homeowners, the median income is $56,174. This indicates that a monthly maximum of $1,311 should be spent by homeowners on all housing related costs. Renters have a median income of $25,656. This indicates that renters should have a maximum of $599 used for their rent related monthly costs.

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%

The New York sales tax and New York income tax rates should definitely be considered when determining the overall cost of living in Hornell, 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

Item	Hornell	National avg.	Difference
Haircut	$15.27	$16.09	5.1%
Beauty Salon	$38.00	$37.33	1.8%
Toothpaste	$1.76	$2.45	28.1%
Shampoo	$0.96	$1.00	4.1%
Movie	$10.95	$10.28	6.5%
Bowling	$5.73	$4.93	16.1%

Groceries

Item	Hornell	National avg.	Difference
Ground Beef	$2.96	$3.80	22.2%
Fried Chicken	$1.30	$1.40	6.7%
Milk	$1.74	$2.01	13.2%
Potatoes	$3.19	$3.01	6.1%
Pizza	$10.49	$9.89	6.2%
Beer	$8.75	$8.90	1.6%

Health Care

Item	Hornell	National avg.	Difference
Optometrist	$111.54	$102.16	9.2%
Doctor	$91.47	$108.36	15.6%
Dentist	$94.93	$92.53	2.6%
Ibuprofen	$7.08	$9.28	23.7%
Lipitor	$395.68	$425.82	7.1%

Housing

Item	Hornell	National avg.	Difference
Home Price	$65,900.00	$184,700.00	64.3%
Avg. Mortgage Payment	$1,003.48	$1,202.44	16.5%
Apartment Rent	$609.00	$949.00	35.8%

Transportation

Item	Hornell	National avg.	Difference
Gasoline	$2.42	$2.24	7.8%
Tire Balancing	$53.21	$46.29	15.0%

Utilities

Item	Hornell	National avg.	Difference
All Electricity	$145.76	$165.96	12.2%
Phone	$27.99	$28.68	2.4%

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.
Andover, NY	821	82	-18%
Wellsville, NY	4,562	82	-18%
Almond, NY	468	85	-15%
Canaseraga, NY	597	85	-15%
Dalton, NY	276	85	-15%
Hornell, NY	8,400	85	-15%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Gering, NE	8,401	91	-9%
Gonzales, CA	8,401	116	16%
Haledon, NJ	8,399	120	20%
Boonville, MO	8,397	87	-13%
Golden Valley, AZ	8,404	81	-19%
Hornell, NY	8,400	85	-15%

Source: The Hornell, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Hornell, NY Cost of Living