Solvay 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.
IndexSolvayNew YorkNational
Cost of living index91122100
IndexSolvayNew YorkNational
Goods & Services index100112100
Groceries index104103100
Health care index112104100
Housing index61149100
Transportation index123122100
Utilities index91102100
A general summary of the cost of living index in Solvay, NY is shown above. Compared to the state average of New York the cost of living index in Solvay, NY is 91, which is 26% lower than the average in New York and compared to the national average it is 9% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Solvay, NY goods and services come in at 11% lower than the average in New York and are equal to compared to the nationwide average.

Did you know?

  • The cost of living in Solvay is 26% lower than the New York average.
  • The cost of living in Solvay is 9% lower than the national average.
  • The cost of housing in Solvay is 39% 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 income in Solvay, NY to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Solvay, NY, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Solvay, NY salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$52,089$4,341$1,215$1,563
Renters$29,576$2,465$690$887
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Solvay, NY, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Solvay, NY homeowners have a median income of $52,089. Using that number, you will come up with a maximum of $1,215 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $29,576, which means there is a maximum of $690 to be spent on the costs of renting a home or apartment.

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 Solvay, 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

ItemSolvayNational avg.Difference
Haircut $15.75$14.597.9%
Beauty Salon $34.25$34.681.2%
Toothpaste $3.08$2.4724.5%
Shampoo $1.51$1.0247.7%
Movie $10.50$9.876.4%
Bowling $4.00$4.398.9%

Groceries

ItemSolvayNational avg.Difference
Ground Beef $4.41$4.481.5%
Fried Chicken $1.62$1.4610.7%
Milk $1.90$2.3619.4%
Potatoes $3.24$3.065.8%
Pizza $8.00$9.2413.4%
Beer $9.59$8.6311.1%

Health Care

ItemSolvayNational avg.Difference
Optometrist $109.00$99.789.2%
Doctor $143.69$105.0336.8%
Dentist $87.00$88.701.9%
Ibuprofen $9.48$9.410.7%
Lipitor $320.90$298.507.5%

Housing

ItemSolvayNational avg.Difference
Home Price $102,300.00$175,700.0041.8%
Avg. Mortgage Payment $1,281.68$1,081.0318.6%
Apartment Rent $613.00$920.0033.4%

Transportation

ItemSolvayNational avg.Difference
Gasoline $2.63$2.0926.0%
Tire Balancing $51.93$45.2914.7%

Utilities

ItemSolvayNational avg.Difference
All Electricity$179.24$170.804.9%
Phone $19.99$28.2629.3%
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.
Sand Ridge, NY84582-18%
Seneca Knolls, NY1,93687-13%
Bridgeport, NY1,58388-12%
Phoenix, NY2,49789-11%
East Syracuse, NY3,05189-11%
Solvay, NY6,51491-9%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ishpeming, MI6,51483-17%
Eagle, CO6,51113939%
Crozet, VA6,51112020%
Lawrence, NY6,511220120%
Bedford, VA6,50889-11%
Solvay, NY6,51491-9%
Source: The Solvay, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.