New Hyde Park 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 Hyde ParkNew YorkNational
Cost of living index167120100
IndexNew Hyde ParkNew YorkNational
Goods & Services index148110100
Groceries index128105100
Health care index11599100
Housing index236149100
Transportation index134111100
Utilities index127102100
Here we can see a simple outline of the cost of living in New Hyde Park, NY. As you can see, with the average cost of living in New Hyde Park, NY being 167, that puts it 39% higher than the average of New York and 67% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of New Hyde Park, NY, the price of goods and services are 34% higher than the average of New York as well as 48% higher than the nation's average.

Did you know?

  • The cost of living in New Hyde Park is 39% higher than the New York average.
  • The cost of living in New Hyde Park is 67% higher than the national average.
  • The cost of housing in New Hyde Park is 136% 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 New Hyde Park, NY Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in New Hyde Park, NY to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in New Hyde Park, NY, then you would need to earn more income in order to maintain the same standard of living. To use the New Hyde Park, NY salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$105,329$8,777$2,458$3,160
Renters$67,182$5,599$1,567$2,016
If you want to find a good determining factor for the cost of living and the general affordability of housing in New Hyde Park, 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 New Hyde Park, NY, the median monthly income is $105,329 for those who own their own homes. Under the standard rule, that income level would allow for $2,458 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $67,182, per the median income in the area. That would allow for renters to spend up to $1,567 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%
The New York sales tax and New York income tax rates should definitely be considered when determining the overall cost of living in New Hyde Park, 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

ItemNew Hyde ParkNational 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

ItemNew Hyde ParkNational 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

ItemNew Hyde ParkNational 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

ItemNew Hyde ParkNational avg.Difference
Home Price $473,900.00$175,700.00169.7%
Avg. Mortgage Payment $5,496.82$1,133.23385.1%
Apartment Rent $1,443.00$920.0056.8%

Transportation

ItemNew Hyde ParkNational avg.Difference
Gasoline $2.31$1.9916.1%
Tire Balancing $79.33$45.7673.4%

Utilities

ItemNew Hyde ParkNational 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.
North Amityville, NY19,60813333%
Roosevelt, NY16,55414646%
Uniondale, NY24,78714646%
New Cassel, NY13,98813737%
Hempstead, NY54,80114747%
New Hyde Park, NY9,76416767%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Washington, NC9,7681011%
Cedartown, GA9,76082-18%
Monmouth, OR9,7691077%
Waynesville, NC9,77093-7%
Cottage Grove, OR9,7721066%
New Hyde Park, NY9,76416767%
Source: The New Hyde Park, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.