Niagara Falls 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.
IndexNiagara FallsNew YorkNational
Cost of living index79120100
IndexNiagara FallsNew YorkNational
Goods & Services index92110100
Groceries index95105100
Health care index8499100
Housing index48149100
Transportation index98111100
Utilities index89102100
The above illustration supplies generalized information for the Niagara Falls, NY cost of living index. Compared to other cities in New York and cities across the country, the cost of living index in Niagara Falls, NY is 79, which is 34% lower than the New York average and 21% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Niagara Falls, NY are 17% lower than the average for New York and 8% lower than the rest of the country.

Did you know?

  • The cost of living in Niagara Falls is 34% lower than the New York average.
  • The cost of living in Niagara Falls is 21% lower than the national average.
  • The cost of housing in Niagara Falls is 52% 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 salary in Niagara Falls, 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 Niagara Falls, NY, then you would need to earn more income in order to maintain the same standard of living. To use the Niagara Falls, 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$49,405$4,117$1,153$1,482
Renters$20,184$1,682$471$606
One can approximate the cost of living and the housing affordability in Niagara Falls, NY by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Niagara Falls, NY have a median income of $49,405. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,153 per month to avoid calamity and poverty. The renters in the city have an income of about $20,184, which would make their monthly maximum allowable rental costs $471.

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 Niagara Falls, 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

ItemNiagara FallsNational avg.Difference
Haircut $14.90$15.564.3%
Beauty Salon $30.83$36.1114.6%
Toothpaste $1.99$2.4719.4%
Shampoo $0.89$0.968.1%
Movie $10.42$10.132.9%
Bowling $3.42$4.7427.7%

Groceries

ItemNiagara FallsNational avg.Difference
Ground Beef $3.69$3.987.3%
Fried Chicken $1.30$1.417.8%
Milk $1.93$2.066.3%
Potatoes $2.52$2.9815.5%
Pizza $9.99$9.475.5%
Beer $8.28$8.795.8%

Health Care

ItemNiagara FallsNational avg.Difference
Optometrist $58.53$101.0442.1%
Doctor $85.33$107.4420.6%
Dentist $70.70$90.4221.8%
Ibuprofen $8.70$9.286.2%
Lipitor $439.17$426.503.0%

Housing

ItemNiagara FallsNational avg.Difference
Home Price $67,600.00$175,700.0061.5%
Avg. Mortgage Payment $1,278.38$1,133.2312.8%
Apartment Rent $637.00$920.0030.8%

Transportation

ItemNiagara FallsNational avg.Difference
Gasoline $2.10$1.995.4%
Tire Balancing $37.55$45.7617.9%

Utilities

ItemNiagara FallsNational avg.Difference
All Electricity$134.14$163.8118.1%
Phone $28.22$28.390.6%
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.
Buffalo, NY259,95980-20%
Sloan, NY3,64280-20%
Tonawanda, NY15,04882-18%
North Tonawanda, NY31,24584-16%
Cheektowaga, NY74,96784-16%
Niagara Falls, NY49,67979-21%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Dublin, CA49,69417272%
Tigard, OR49,63312222%
Kentwood, MI49,73688-12%
Cerritos, CA49,59916969%
Lenexa, KS49,5731044%
Niagara Falls, NY49,67979-21%
Source: The Niagara Falls, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.