New Hempstead 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.
IndexNew HempsteadNew YorkNational
Cost of living index145122100
IndexNew HempsteadNew YorkNational
Goods & Services index126112100
Groceries index122103100
Health care index115104100
Housing index198149100
Transportation index100122100
Utilities index132102100
A general overview of the cost of living index for New Hempstead, NY is displayed above. In New Hempstead, NY, the overall cost of living index is 145, which is 19% higher than the New York average and 45% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of New Hempstead, NY, the city's goods and services are 12% higher than the New York average and 26% higher than the U.S. average.

Did you know?

  • The cost of living in New Hempstead is 19% higher than the New York average.
  • The cost of living in New Hempstead is 45% higher than the national average.
  • The cost of housing in New Hempstead is 98% 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.

Find Real Estate Listings In New Hempstead

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In New Hempstead

Compare New Hempstead, NY Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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 allows you to compare how much your current salary in New Hempstead, 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 New Hempstead, NY, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The New Hempstead, 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$114,543$9,545$2,672$3,437
Renters$47,500$3,958$1,108$1,425
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 New Hempstead, 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. New Hempstead, NY has a median income of about $114,543 for people who own homes. Based on that number, a person should spend a maximum of $2,672 on expenses related to housing. Renters have a slightly different median income, which is $47,500. Based on this average, renters should spend no more than $1,108 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 New Hempstead, 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

ItemNew HempsteadNational 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

ItemNew HempsteadNational 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

ItemNew HempsteadNational 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

ItemNew HempsteadNational avg.Difference
Home Price $443,100.00$175,700.00152.2%
Avg. Mortgage Payment $2,127.00$1,081.0396.8%
Apartment Rent $671.00$920.0027.1%

Transportation

ItemNew HempsteadNational avg.Difference
Gasoline $2.06$2.091.5%
Tire Balancing $47.99$45.296.0%

Utilities

ItemNew HempsteadNational 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.
Greenville, NY5731044%
Chester, NY3,94311414%
Harriman, NY2,77112525%
Fort Montgomery, NY1,38512828%
Mount Ivy, NY6,92612828%
New Hempstead, NY5,24014545%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Springhill, LA5,23979-21%
Center, TX5,23982-18%
Batesburg-Leesville, SC5,24289-11%
Sugarcreek, PA5,23876-24%
Cumberland, IN5,24391-9%
New Hempstead, NY5,24014545%
Source: The New Hempstead, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.