Lake Erie Beach 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.
IndexLake Erie BeachNew YorkNational
Cost of living index86122100
IndexLake Erie BeachNew YorkNational
Goods & Services index85112100
Groceries index88103100
Health care index89104100
Housing index69149100
Transportation index117122100
Utilities index101102100
An overview of the general cost of living index for Lake Erie Beach, NY is displayed above for your reference. Residents in Lake Erie Beach, NY enjoy a cost of living index of 86. This index is 30% lower than the New York average, and 14% 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 Lake Erie Beach, NY, the average cost of goods and services is 24% lower than it is in New York, and it is 15% lower than the national average.

Did you know?

  • The cost of living in Lake Erie Beach is 30% lower than the New York average.
  • The cost of living in Lake Erie Beach is 14% lower than the national average.
  • The cost of housing in Lake Erie Beach is 31% 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 Lake Erie Beach, NY Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in Lake Erie Beach, NY would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Lake Erie Beach, NY, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Lake Erie Beach, NY salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$62,204$5,184$1,451$1,866
Renters$32,958$2,747$769$989
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 Lake Erie Beach, 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. Lake Erie Beach, NY has a median income of about $62,204 for people who own homes. Based on that number, a person should spend a maximum of $1,451 on expenses related to housing. Renters have a slightly different median income, which is $32,958. Based on this average, renters should spend no more than $769 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%
When considering the overall cost of living expenses in Lake Erie Beach, 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

ItemLake Erie BeachNational avg.Difference
Haircut $14.78$14.591.3%
Beauty Salon $24.99$34.6827.9%
Toothpaste $1.49$2.4739.8%
Shampoo $0.87$1.0214.9%
Movie $10.62$9.877.6%
Bowling $2.90$4.3934.0%

Groceries

ItemLake Erie BeachNational avg.Difference
Ground Beef $3.74$4.4816.5%
Fried Chicken $1.14$1.4622.1%
Milk $1.82$2.3622.8%
Potatoes $2.19$3.0628.5%
Pizza $8.00$9.2413.4%
Beer $7.73$8.6310.5%

Health Care

ItemLake Erie BeachNational avg.Difference
Optometrist $55.25$99.7844.6%
Doctor $80.50$105.0323.4%
Dentist $78.80$88.7011.2%
Ibuprofen $7.98$9.4115.2%
Lipitor $335.79$298.5012.5%

Housing

ItemLake Erie BeachNational avg.Difference
Home Price $101,600.00$175,700.0042.2%
Avg. Mortgage Payment $1,155.06$1,081.036.8%
Apartment Rent $875.00$920.004.9%

Transportation

ItemLake Erie BeachNational avg.Difference
Gasoline $2.74$2.0931.2%
Tire Balancing $35.11$45.2922.5%

Utilities

ItemLake Erie BeachNational avg.Difference
All Electricity$177.83$170.804.1%
Phone $27.50$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.
Dunkirk, NY12,38678-22%
Perrysburg, NY30879-21%
Gowanda, NY2,67980-20%
Silver Creek, NY2,60780-20%
Lackawanna, NY18,03781-19%
Lake Erie Beach, NY4,06886-14%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Upland, IN4,06886-14%
Charleroi, PA4,06984-16%
East Rockingham, NC4,06982-18%
Village Shires, PA4,06913636%
Highgrove, CA4,06711313%
Lake Erie Beach, NY4,06886-14%
Source: The Lake Erie Beach, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.