Kings Point 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.
IndexKings PointNew YorkNational
Cost of living index436120100
IndexKings PointNew YorkNational
Goods & Services index148110100
Groceries index128105100
Health care index11599100
Housing index1,134149100
Transportation index134111100
Utilities index127102100
An overview of the general cost of living index for Kings Point, NY is displayed above for your reference. Residents in Kings Point, NY enjoy a cost of living index of 436. This index is 263% higher than the New York average, and 336% 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 Kings Point, NY, the average cost of goods and services is 34% higher than it is in New York, and it is 48% higher than the national average.

Did you know?

  • The cost of living in Kings Point is 263% higher than the New York average.
  • The cost of living in Kings Point is 336% higher than the national average.
  • The cost of housing in Kings Point is 1034% 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 Kings Point, 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 Kings Point, 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 Kings Point, NY, you have to earn a higher income in order to still have the same standard of living. To operate the Kings Point, 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$113,478$9,457$2,648$3,405
Renters$113,000$9,417$2,636$3,390
If you want to find a good determining factor for the cost of living and the general affordability of housing in Kings Point, 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 Kings Point, NY, the median monthly income is $113,478 for those who own their own homes. Under the standard rule, that income level would allow for $2,648 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $113,000, per the median income in the area. That would allow for renters to spend up to $2,636 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%
When you are determining the total cost of living in Kings Point, NY you will want to make sure you consider both the New York sales tax and the New York income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in New York is 4%, with the highest surtax being 8.875%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in New York have a range from 4% to 8.82%.

Goods & Services

ItemKings PointNational avg.Difference
Haircut $24.02$15.5654.3%
Beauty Salon $64.92$36.1179.8%
Toothpaste $4.50$2.4782.1%
Shampoo $1.67$0.9673.1%
Movie $14.89$10.1347.1%
Bowling $13.06$4.74175.8%

Groceries

ItemKings PointNational avg.Difference
Ground Beef $6.10$3.9853.2%
Fried Chicken $2.04$1.4144.7%
Milk $2.45$2.0618.7%
Potatoes $3.78$2.9826.8%
Pizza $12.14$9.4728.1%
Beer $13.06$8.7948.6%

Health Care

ItemKings PointNational avg.Difference
Optometrist $106.66$101.045.6%
Doctor $105.00$107.442.3%
Dentist $125.00$90.4238.2%
Ibuprofen $9.99$9.287.7%
Lipitor $435.07$426.502.0%

Housing

ItemKings PointNational avg.Difference
Home Price $2,776,600.00$175,700.001,480.3%
Avg. Mortgage Payment $5,496.82$1,133.23385.1%
Apartment Rent $860.00$920.006.5%

Transportation

ItemKings PointNational avg.Difference
Gasoline $2.31$1.9916.1%
Tire Balancing $79.33$45.7673.4%

Utilities

ItemKings PointNational avg.Difference
All Electricity$232.72$163.8142.1%
Phone $30.77$28.398.4%
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, StatePopulationCost of Living IndexNational Avg.
Greenville, NY5731033%
Guttenberg, NJ11,39714545%
Roosevelt, NY16,55414646%
West New York, NJ51,51114646%
Uniondale, NY24,78714646%
Kings Point, NY5,076436336%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
West Elmira, NY5,07796-4%
Benson, AZ5,07582-18%
Camilla, GA5,07884-16%
East Moriches, NY5,07414646%
Bright, IN5,07994-6%
Kings Point, NY5,076436336%
Source: The Kings Point, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.