Watertown 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.
IndexWatertownNew YorkNational
Cost of living index95120100
IndexWatertownNew YorkNational
Goods & Services index103110100
Groceries index96105100
Health care index9999100
Housing index73149100
Transportation index101111100
Utilities index124102100
A general summary of the cost of living index in Watertown, NY is shown above. Compared to the state average of New York the cost of living index in Watertown, NY is 95, which is 21% lower than the average in New York and compared to the national average it is 5% 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 Watertown, NY goods and services come in at 6% lower than the average in New York and are 3% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Watertown is 21% lower than the New York average.
  • The cost of living in Watertown is 5% lower than the national average.
  • The cost of housing in Watertown is 27% 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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Compare Watertown, NY Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Watertown, NY to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Watertown, NY, you have to earn a higher income in order to still have the same standard of living. To operate the Watertown, NY salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$58,781$4,898$1,371$1,764
Renters$30,099$2,508$702$903
The affordability of the housing market in Watertown, 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 Watertown, NY homeowners, the median income is $58,781. This indicates that a monthly maximum of $1,371 should be spent by homeowners on all housing related costs. Renters have a median income of $30,099. This indicates that renters should have a maximum of $702 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 you are determining the total cost of living in Watertown, 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

ItemWatertownNational avg.Difference
Haircut $11.89$15.5623.6%
Beauty Salon $23.76$36.1134.2%
Toothpaste $2.11$2.4714.5%
Shampoo $0.96$0.961.0%
Movie $9.48$10.136.3%
Bowling $4.06$4.7414.3%

Groceries

ItemWatertownNational avg.Difference
Ground Beef $3.67$3.987.8%
Fried Chicken $1.41$1.410.1%
Milk $2.14$2.063.8%
Potatoes $3.52$2.9818.0%
Pizza $9.67$9.472.0%
Beer $9.03$8.792.7%

Health Care

ItemWatertownNational avg.Difference
Optometrist $119.86$101.0418.6%
Doctor $109.25$107.441.7%
Dentist $85.05$90.425.9%
Ibuprofen $8.94$9.283.6%
Lipitor $415.04$426.502.7%

Housing

ItemWatertownNational avg.Difference
Home Price $119,800.00$175,700.0031.8%
Avg. Mortgage Payment $1,074.41$1,133.235.2%
Apartment Rent $790.00$920.0014.1%

Transportation

ItemWatertownNational avg.Difference
Gasoline $2.09$1.994.7%
Tire Balancing $42.21$45.767.8%

Utilities

ItemWatertownNational avg.Difference
All Electricity$138.90$163.8115.2%
Phone $50.41$28.3977.6%
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.
Herrings, NY8587-13%
Henderson, NY18489-11%
Lorraine, NY12389-11%
Three Mile Bay, NY18291-9%
Depauville, NY95992-8%
Watertown, NY27,59095-5%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Kirkwood, MO27,5871088%
SeaTac, WA27,60612828%
West Islip, NY27,54514949%
New London, CT27,53611414%
Winona, MN27,52693-7%
Watertown, NY27,59095-5%
Source: The Watertown, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.