Putnam Lake 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.
IndexPutnam LakeNew YorkNational
Cost of living index127122100
IndexPutnam LakeNew YorkNational
Goods & Services index126112100
Groceries index122103100
Health care index115104100
Housing index138149100
Transportation index100122100
Utilities index132102100
A general overview of the cost of living index for Putnam Lake, NY is displayed above. In Putnam Lake, NY, the overall cost of living index is 127, which is 4% higher than the New York average and 27% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Putnam Lake, NY, the city's goods and services are 12% higher than the New York average and 26% higher than the U.S. average.

Did you know?

  • The cost of living in Putnam Lake is 4% higher than the New York average.
  • The cost of living in Putnam Lake is 27% higher than the national average.
  • The cost of housing in Putnam Lake is 38% 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 Putnam Lake, NY Cost of living To Other Cities

Salary Calculator

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The salary calculator is meant to help you compare your salary in Putnam Lake, NY to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Putnam Lake, NY, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Putnam Lake, NY salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$93,681$7,807$2,186$2,811
Renters$23,011$1,918$537$690
If you want to find a good determining factor for the cost of living and the general affordability of housing in Putnam Lake, 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 Putnam Lake, NY, the median monthly income is $93,681 for those who own their own homes. Under the standard rule, that income level would allow for $2,186 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $23,011, per the median income in the area. That would allow for renters to spend up to $537 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%
When you are determining the total cost of living in Putnam Lake, NY you will want to make sure you consider both the New York sales tax and the New York income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in New York is 4%, with the highest surtax being 8.875%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in New York have a range from 4% to 8.82%.

Goods & Services

ItemPutnam LakeNational 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

ItemPutnam LakeNational 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

ItemPutnam LakeNational 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

ItemPutnam LakeNational avg.Difference
Home Price $242,800.00$175,700.0038.2%
Avg. Mortgage Payment $2,127.00$1,081.0396.8%
Apartment Rent $1,260.00$920.0037.0%

Transportation

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

Utilities

ItemPutnam LakeNational 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.
Watchtower, NY2,5661033%
New Milford, CT6,56812222%
Freedom Plains, NY49612626%
Hillside Lake, NY1,08912727%
Brewster, NY2,35012929%
Putnam Lake, NY4,01012727%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
San Joaquin, CA4,01092-8%
Silverthorne, CO4,00913838%
Rosewood Heights, IL4,01190-10%
Rose Hill, KS4,00993-7%
Mosinee, WI4,00886-14%
Putnam Lake, NY4,01012727%
Source: The Putnam Lake, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.