Springs 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.
IndexSpringsNew YorkNational
Cost of living index183120100
IndexSpringsNew YorkNational
Goods & Services index122110100
Groceries index130105100
Health care index11799100
Housing index332149100
Transportation index107111100
Utilities index110102100
A general summary of the cost of living index in Springs, NY is shown above. Compared to the state average of New York the cost of living index in Springs, NY is 183, which is 53% higher than the average in New York and compared to the national average it is 83% higher 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 Springs, NY goods and services come in at 11% higher than the average in New York and are 22% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Springs is 53% higher than the New York average.
  • The cost of living in Springs is 83% higher than the national average.
  • The cost of housing in Springs is 232% 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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Salary Calculator

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The salary calculator is meant to help you compare your salary in Springs, 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 Springs, NY, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Springs, 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$92,737$7,728$2,164$2,782
Renters$70,486$5,874$1,645$2,115
The affordability of the housing market in Springs, 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 Springs, NY homeowners, the median income is $92,737. This indicates that a monthly maximum of $2,164 should be spent by homeowners on all housing related costs. Renters have a median income of $70,486. This indicates that renters should have a maximum of $1,645 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%
When assessing the complete cost of living in Springs, NY, the New York income tax and the New York sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The New York maximum surtax is 8.875%, and the New York sales tax is 4%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 4% to 8.82% in New York.

Goods & Services

ItemSpringsNational avg.Difference
Haircut $19.74$15.5626.8%
Beauty Salon $55.02$36.1152.4%
Toothpaste $4.07$2.4764.6%
Shampoo $1.17$0.9620.9%
Movie $11.67$10.1315.2%
Bowling $7.30$4.7454.2%

Groceries

ItemSpringsNational avg.Difference
Ground Beef $4.79$3.9820.2%
Fried Chicken $1.59$1.4113.2%
Milk $3.06$2.0648.4%
Potatoes $5.30$2.9877.8%
Pizza $9.95$9.475.0%
Beer $9.99$8.7913.6%

Health Care

ItemSpringsNational avg.Difference
Optometrist $119.98$101.0418.7%
Doctor $129.20$107.4420.2%
Dentist $113.88$90.4226.0%
Ibuprofen $9.82$9.285.9%
Lipitor $422.35$426.501.0%

Housing

ItemSpringsNational avg.Difference
Home Price $681,400.00$175,700.00287.8%
Avg. Mortgage Payment $1,491.42$1,133.2331.6%
Apartment Rent $1,861.00$920.00102.3%

Transportation

ItemSpringsNational avg.Difference
Gasoline $2.12$1.996.5%
Tire Balancing $49.98$45.769.2%

Utilities

ItemSpringsNational avg.Difference
All Electricity$212.84$163.8129.9%
Phone $23.95$28.3915.6%
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.
Dering Harbor, NY512020%
Greenport West, NY1,93615050%
Greenport, NY2,36915151%
Southold, NY6,32315656%
East Marion, NY93215959%
Springs, NY5,85518383%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Watchung, NJ5,85518383%
Sweetwater, TN5,85678-22%
Covington, VA5,85380-20%
Plain City, UT5,8591033%
Doney Park, AZ5,86012121%
Springs, NY5,85518383%
Source: The Springs, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.