Peekskill 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.
IndexPeekskillNew YorkNational
Cost of living index135122100
IndexPeekskillNew YorkNational
Goods & Services index126112100
Groceries index122103100
Health care index115104100
Housing index166149100
Transportation index100122100
Utilities index132102100
Here we can see a simple outline of the cost of living in Peekskill, NY. As you can see, with the average cost of living in Peekskill, NY being 135, that puts it 11% higher than the average of New York and 35% 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 Peekskill, NY, the price of goods and services are 12% higher than the average of New York as well as 26% higher than the nation's average.

Did you know?

  • The cost of living in Peekskill is 11% higher than the New York average.
  • The cost of living in Peekskill is 35% higher than the national average.
  • The cost of housing in Peekskill is 66% 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 Peekskill, NY Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Peekskill, 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 Peekskill, NY, then you would need to earn more income in order to maintain the same standard of living. To use the Peekskill, 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$82,342$6,862$1,921$2,471
Renters$35,785$2,982$835$1,074
The affordability of the housing market in Peekskill, 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 Peekskill, NY homeowners, the median income is $82,342. This indicates that a monthly maximum of $1,921 should be spent by homeowners on all housing related costs. Renters have a median income of $35,785. This indicates that renters should have a maximum of $835 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%
One thing to keep in mind when considering the cost of living in Peekskill, NY is the New York sales tax and New York income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The New York sales tax rate is 4% and the maximum surtax that can be charged is 8.875%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The New York income tax rates range from 4% to 8.82%.

Goods & Services

ItemPeekskillNational 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

ItemPeekskillNational 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

ItemPeekskillNational 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

ItemPeekskillNational avg.Difference
Home Price $310,200.00$175,700.0076.6%
Avg. Mortgage Payment $2,127.00$1,081.0396.8%
Apartment Rent $1,297.00$920.0041.0%

Transportation

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

Utilities

ItemPeekskillNational 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.
Mountain Lodge Park, NY1,98311616%
Newburgh, NY28,61411616%
Maybrook, NY3,02211717%
Vails Gate, NY3,47711919%
Highland Falls, NY3,85212424%
Peekskill, NY23,87513535%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
West Puente Valley, CA23,86812626%
Muscatine, IA23,85789-11%
Watertown, WI23,89997-3%
Terrytown, LA23,90092-8%
Canton, GA23,84199-1%
Peekskill, NY23,87513535%
Source: The Peekskill, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.