Newark 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.
IndexNewarkNew YorkNational
Cost of living index89122100
IndexNewarkNew YorkNational
Goods & Services index103112100
Groceries index98103100
Health care index99104100
Housing index55149100
Transportation index126122100
Utilities index94102100
Displayed above is a general overview of the Newark, NY cost of living index. The overall cost of living index in Newark, NY is 89, which is 27% lower than the New York average and 11% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Newark, NY are 8% lower than the New York average and 3% higher than the national average.

Did you know?

  • The cost of living in Newark is 27% lower than the New York average.
  • The cost of living in Newark is 11% lower than the national average.
  • The cost of housing in Newark is 45% 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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Salary Calculator

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Use the salary calculator to compare your current income in Newark, 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 Newark, NY, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Newark, 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$51,336$4,278$1,198$1,540
Renters$24,872$2,073$580$746
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 Newark, 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. Newark, NY has a median income of about $51,336 for people who own homes. Based on that number, a person should spend a maximum of $1,198 on expenses related to housing. Renters have a slightly different median income, which is $24,872. Based on this average, renters should spend no more than $580 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%
For those who live in Newark, NY and want to know what the true cost of living is, they ought to look at both the New York income tax rate and the New York sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In New York, the sales tax is 4%, while the most you'll pay in surtax is 8.875%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in New York, the income tax rate ranges between 4% to 8.82%.

Goods & Services

ItemNewarkNational avg.Difference
Haircut $12.67$14.5913.2%
Beauty Salon $33.75$34.682.7%
Toothpaste $2.37$2.474.2%
Shampoo $1.00$1.022.2%
Movie $9.92$9.870.5%
Bowling $4.92$4.3912.0%

Groceries

ItemNewarkNational avg.Difference
Ground Beef $3.86$4.4813.8%
Fried Chicken $1.99$1.4635.9%
Milk $2.28$2.363.3%
Potatoes $2.99$3.062.3%
Pizza $11.00$9.2419.0%
Beer $8.09$8.636.3%

Health Care

ItemNewarkNational avg.Difference
Optometrist $114.11$99.7814.4%
Doctor $100.22$105.034.6%
Dentist $87.06$88.701.9%
Ibuprofen $9.24$9.411.8%
Lipitor $303.30$298.501.6%

Housing

ItemNewarkNational avg.Difference
Home Price $86,100.00$175,700.0051.0%
Avg. Mortgage Payment $949.46$1,081.0312.2%
Apartment Rent $642.00$920.0030.2%

Transportation

ItemNewarkNational avg.Difference
Gasoline $2.72$2.0930.0%
Tire Balancing $52.74$45.2916.5%

Utilities

ItemNewarkNational avg.Difference
All Electricity$153.03$170.8010.4%
Phone $27.99$28.260.9%
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.
Ontario, NY2,18886-14%
Lyons, NY3,34386-14%
North Rose, NY69486-14%
Wolcott, NY1,69887-13%
Waterloo, NY5,17888-12%
Newark, NY9,01989-11%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Thompsonville, CT9,02111616%
Clinton, MO9,01485-15%
Pleasant Hill, IA9,01194-6%
Plymouth, MI9,0291000%
Morehead City, NC9,0301011%
Newark, NY9,01989-11%
Source: The Newark, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.