Mount Sinai 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.
IndexMount SinaiNew YorkNational
Cost of living index154120100
IndexMount SinaiNew YorkNational
Goods & Services index122110100
Groceries index130105100
Health care index11799100
Housing index234149100
Transportation index107111100
Utilities index110102100
An overview of the general cost of living index for Mount Sinai, NY is displayed above for your reference. Residents in Mount Sinai, NY enjoy a cost of living index of 154. This index is 28% higher than the New York average, and 54% 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 Mount Sinai, NY, the average cost of goods and services is 11% higher than it is in New York, and it is 22% higher than the national average.

Did you know?

  • The cost of living in Mount Sinai is 28% higher than the New York average.
  • The cost of living in Mount Sinai is 54% higher than the national average.
  • The cost of housing in Mount Sinai is 134% 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 Mount Sinai, NY Cost of living To Other Cities

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Use the salary calculator to compare your current income in Mount Sinai, 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 Mount Sinai, NY, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Mount Sinai, 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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$120,303$10,025$2,807$3,609
Renters$28,692$2,391$669$861
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 Mount Sinai, 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. Mount Sinai, NY has a median income of about $120,303 for people who own homes. Based on that number, a person should spend a maximum of $2,807 on expenses related to housing. Renters have a slightly different median income, which is $28,692. Based on this average, renters should spend no more than $669 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 assessing the complete cost of living in Mount Sinai, NY, the New York income tax and the New York sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The New York maximum surtax is 8.875%, and the New York sales tax is 4%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 4% to 8.82% in New York.

Goods & Services

ItemMount SinaiNational avg.Difference
Haircut $19.74$15.5626.8%
Beauty Salon $55.02$36.1152.4%
Toothpaste $4.07$2.4764.6%
Shampoo $1.17$0.9620.9%
Movie $11.67$10.1315.2%
Bowling $7.30$4.7454.2%

Groceries

ItemMount SinaiNational avg.Difference
Ground Beef $4.79$3.9820.2%
Fried Chicken $1.59$1.4113.2%
Milk $3.06$2.0648.4%
Potatoes $5.30$2.9877.8%
Pizza $9.95$9.475.0%
Beer $9.99$8.7913.6%

Health Care

ItemMount SinaiNational avg.Difference
Optometrist $119.98$101.0418.7%
Doctor $129.20$107.4420.2%
Dentist $113.88$90.4226.0%
Ibuprofen $9.82$9.285.9%
Lipitor $422.35$426.501.0%

Housing

ItemMount SinaiNational avg.Difference
Home Price $450,400.00$175,700.00156.3%
Avg. Mortgage Payment $1,491.42$1,133.2331.6%
Apartment Rent $1,686.00$920.0083.3%

Transportation

ItemMount SinaiNational avg.Difference
Gasoline $2.12$1.996.5%
Tire Balancing $49.98$45.769.2%

Utilities

ItemMount SinaiNational avg.Difference
All Electricity$212.84$163.8129.9%
Phone $23.95$28.3915.6%
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, StatePopulationCost of Living IndexNational Avg.
Mastic Beach, NY14,88012323%
Calverton, NY6,37212424%
Ridge, NY12,92112626%
Mastic, NY16,27412828%
Central Islip, NY36,23313232%
Mount Sinai, NY12,62015454%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Boone, IA12,61984-16%
Markham, IL12,625100-0%
Waunakee, WI12,61311919%
Forest Hill, TX12,61293-7%
Bainbridge, GA12,60089-11%
Mount Sinai, NY12,62015454%
Source: The Mount Sinai, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.