Sloan 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.
IndexSloanNew YorkNational
Cost of living index80122100
IndexSloanNew YorkNational
Goods & Services index85112100
Groceries index88103100
Health care index89104100
Housing index50149100
Transportation index117122100
Utilities index101102100
Here we can see a simple outline of the cost of living in Sloan, NY. As you can see, with the average cost of living in Sloan, NY being 80, that puts it 34% lower than the average of New York and 20% lower 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 Sloan, NY, the price of goods and services are 24% lower than the average of New York as well as 15% lower than the nation's average.

Did you know?

  • The cost of living in Sloan is 34% lower than the New York average.
  • The cost of living in Sloan is 20% lower than the national average.
  • The cost of housing in Sloan is 50% 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

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Sloan, 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 Sloan, NY, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Sloan, 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$47,371$3,948$1,105$1,421
Renters$30,428$2,536$710$913
The affordability of the housing market in Sloan, 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 Sloan, NY homeowners, the median income is $47,371. This indicates that a monthly maximum of $1,105 should be spent by homeowners on all housing related costs. Renters have a median income of $30,428. This indicates that renters should have a maximum of $710 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%
For those who live in Sloan, 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

ItemSloanNational avg.Difference
Haircut $14.78$14.591.3%
Beauty Salon $24.99$34.6827.9%
Toothpaste $1.49$2.4739.8%
Shampoo $0.87$1.0214.9%
Movie $10.62$9.877.6%
Bowling $2.90$4.3934.0%

Groceries

ItemSloanNational avg.Difference
Ground Beef $3.74$4.4816.5%
Fried Chicken $1.14$1.4622.1%
Milk $1.82$2.3622.8%
Potatoes $2.19$3.0628.5%
Pizza $8.00$9.2413.4%
Beer $7.73$8.6310.5%

Health Care

ItemSloanNational avg.Difference
Optometrist $55.25$99.7844.6%
Doctor $80.50$105.0323.4%
Dentist $78.80$88.7011.2%
Ibuprofen $7.98$9.4115.2%
Lipitor $335.79$298.5012.5%

Housing

ItemSloanNational avg.Difference
Home Price $71,700.00$175,700.0059.2%
Avg. Mortgage Payment $1,155.06$1,081.036.8%
Apartment Rent $668.00$920.0027.4%

Transportation

ItemSloanNational avg.Difference
Gasoline $2.74$2.0931.2%
Tire Balancing $35.11$45.2922.5%

Utilities

ItemSloanNational avg.Difference
All Electricity$177.83$170.804.1%
Phone $27.50$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.
Niagara Falls, NY49,67979-21%
Buffalo, NY259,95980-20%
Lackawanna, NY18,03781-19%
Tonawanda, NY15,04882-18%
Blasdell, NY2,56582-18%
Sloan, NY3,64280-20%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Harrington, DE3,6431011%
Odenville, AL3,64190-10%
Vineyards, FL3,64313434%
Sherwood CDP, OH3,64095-5%
De Leon Springs, FL3,63997-3%
Sloan, NY3,64280-20%
Source: The Sloan, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.