Oyster Bay 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.
IndexOyster BayNew YorkNational
Cost of living index172120100
IndexOyster BayNew YorkNational
Goods & Services index122110100
Groceries index134105100
Health care index11499100
Housing index285149100
Transportation index111111100
Utilities index126102100
Displayed above is a general overview of the Oyster Bay, NY cost of living index. The overall cost of living index in Oyster Bay, NY is 172, which is 43% higher than the New York average and 72% higher 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 Oyster Bay, NY are 11% higher than the New York average and 22% higher than the national average.

Did you know?

  • The cost of living in Oyster Bay is 43% higher than the New York average.
  • The cost of living in Oyster Bay is 72% higher than the national average.
  • The cost of housing in Oyster Bay is 185% 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 Oyster Bay, NY Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in Oyster Bay, 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 Oyster Bay, NY, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Oyster Bay, 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$116,163$9,680$2,710$3,485
Renters$53,051$4,421$1,238$1,592
The affordability of the housing market in Oyster Bay, NY as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Oyster Bay, NY homeowners, the median income is $116,163. This indicates that a monthly maximum of $2,710 should be spent by homeowners on all housing related costs. Renters have a median income of $53,051. This indicates that renters should have a maximum of $1,238 used for their rent related monthly costs.

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 Oyster Bay, 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

ItemOyster BayNational avg.Difference
Haircut $19.59$15.5625.9%
Beauty Salon $64.49$36.1178.6%
Toothpaste $3.04$2.4722.8%
Shampoo $0.98$0.961.2%
Movie $12.88$10.1327.2%
Bowling $7.01$4.7448.0%

Groceries

ItemOyster BayNational avg.Difference
Ground Beef $5.75$3.9844.3%
Fried Chicken $1.66$1.4117.7%
Milk $2.70$2.0630.8%
Potatoes $5.37$2.9880.1%
Pizza $9.80$9.473.4%
Beer $9.94$8.7913.0%

Health Care

ItemOyster BayNational avg.Difference
Optometrist $114.84$101.0413.7%
Doctor $124.85$107.4416.2%
Dentist $110.04$90.4221.7%
Ibuprofen $10.40$9.2812.1%
Lipitor $413.65$426.503.0%

Housing

ItemOyster BayNational avg.Difference
Home Price $571,900.00$175,700.00225.5%
Avg. Mortgage Payment $2,269.26$1,133.23100.2%
Apartment Rent $1,755.00$920.0090.8%

Transportation

ItemOyster BayNational avg.Difference
Gasoline $2.19$1.9910.0%
Tire Balancing $52.50$45.7614.7%

Utilities

ItemOyster BayNational avg.Difference
All Electricity$237.81$163.8145.2%
Phone $29.01$28.392.2%
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, NY5731033%
Brentwood, NY59,43613232%
Baywood, NY7,68113333%
North Amityville, NY19,60813333%
North Bay Shore, NY19,99513333%
Oyster Bay, NY6,54817272%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Hobart, WA6,54815050%
Dade City, FL6,54887-13%
Emmett, ID6,54687-13%
Lake Hallie, WI6,550100-0%
Greenbrier, TN6,55094-6%
Oyster Bay, NY6,54817272%
Source: The Oyster Bay, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.