Valley Cottage 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.
IndexValley CottageNew YorkNational
Cost of living index139120100
IndexValley CottageNew YorkNational
Goods & Services index114110100
Groceries index106105100
Health care index10099100
Housing index208149100
Transportation index107111100
Utilities index109102100
A general summary of the cost of living index in Valley Cottage, NY is shown above. Compared to the state average of New York the cost of living index in Valley Cottage, NY is 139, which is 16% higher than the average in New York and compared to the national average it is 39% 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 Valley Cottage, NY goods and services come in at 3% higher than the average in New York and are 14% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Valley Cottage is 16% higher than the New York average.
  • The cost of living in Valley Cottage is 39% higher than the national average.
  • The cost of housing in Valley Cottage is 108% 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 Valley Cottage, NY Cost of living To Other Cities

Salary Calculator

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The salary calculator is used in order to provide a comparison of your current salary in Valley Cottage, NY to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Valley Cottage, NY, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Valley Cottage, NY salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$102,785$8,565$2,398$3,084
Renters$94,013$7,834$2,193$2,821
The affordability of the housing market in Valley Cottage, 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 Valley Cottage, NY homeowners, the median income is $102,785. This indicates that a monthly maximum of $2,398 should be spent by homeowners on all housing related costs. Renters have a median income of $94,013. This indicates that renters should have a maximum of $2,193 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 considering the overall cost of living expenses in Valley Cottage, NY, it's important to take into account the sales tax for New York, as well as the rate for income tax in New York. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for New York is 8.875%, and the sales tax in the state of New York is 4%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in New York starts from 4% and goes up to 8.82%.

Goods & Services

ItemValley CottageNational avg.Difference
Haircut $21.07$15.5635.3%
Beauty Salon $37.27$36.113.2%
Toothpaste $2.00$2.4719.2%
Shampoo $0.99$0.962.6%
Movie $12.15$10.1320.0%
Bowling $4.22$4.7411.0%

Groceries

ItemValley CottageNational avg.Difference
Ground Beef $3.70$3.987.2%
Fried Chicken $1.60$1.4113.9%
Milk $2.41$2.0616.8%
Potatoes $2.72$2.988.7%
Pizza $8.23$9.4713.1%
Beer $8.92$8.791.5%

Health Care

ItemValley CottageNational avg.Difference
Optometrist $114.67$101.0413.5%
Doctor $97.00$107.449.7%
Dentist $100.58$90.4211.2%
Ibuprofen $8.64$9.286.9%
Lipitor $377.50$426.5011.5%

Housing

ItemValley CottageNational avg.Difference
Home Price $398,800.00$175,700.00127.0%
Avg. Mortgage Payment $1,788.76$1,133.2357.8%
Apartment Rent $1,497.00$920.0062.7%

Transportation

ItemValley CottageNational avg.Difference
Gasoline $1.95$1.992.3%
Tire Balancing $58.03$45.7626.8%

Utilities

ItemValley CottageNational avg.Difference
All Electricity$168.80$163.813.0%
Phone $33.50$28.3918.0%
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.
Greenville, NY5731033%
Harriman, NY2,77111616%
Paterson, NJ146,34111919%
Mount Ivy, NY6,92612020%
Haledon, NJ8,39712121%
Valley Cottage, NY10,18513939%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lexington, NE10,18979-21%
San Diego Country Estates, CA10,19114141%
Coral Hills, MD10,19611616%
Peru, IL10,17289-11%
Forestdale, AL10,16886-14%
Valley Cottage, NY10,18513939%
Source: The Valley Cottage, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.