F
73%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
213%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Dobbs Ferry New York National
Cost of living173117100
Goods & Services113108100
Groceries105102100
Health care110103100
Housing313145100
Transportation102105100
Utilities131100100

An Overview of Cost of Living in Dobbs Ferry, NY

Are you thinking about relocating, but curious about the potential cost of living in Dobbs Ferry? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Dobbs Ferry stands at 173, making it 73% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Dobbs Ferry is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Dobbs Ferry falls into this category, which may not align with your goal of finding a budget-friendly living environment.

When it comes to the cost of living in Dobbs Ferry, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 212.9% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Dobbs Ferry goods and services are 12.9% more expensive than the national average, leaving you with less money at the end of the month.

Is Dobbs Ferry Affordable?

Is Dobbs Ferry affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Dobbs Ferry, for instance, where the median home price falls 254.6% higher than the national average, and monthly rent rates are 115.4% higher than usual. Additionally, median income levels contribute to the equation, with Dobbs Ferry flaunting a median household income of $145,104, 162.3% higher than the national norm.

What Factors can Influence the Cost of Living in Dobbs Ferry?

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Dobbs Ferry, the utilities index registers at 31.4% higher than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Dobbs Ferry, the general sales tax rate starts at 4%, and income tax rates begin at 4%.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Dobbs Ferry, healthcare costs are 9.9% higher than the national average.

Where is the Data From?

The cost of living data in Dobbs Ferry displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Dobbs Ferry is 48% higher than the New York average
  • The cost of living in Dobbs Ferry is 73% higher than the national average
  • Dobbs Ferry housing is 213% higher than the national average
  • New York general sales tax is 22% lower than the national average
  • New York state income tax is 77% higher than the national average

Most Affordable Places to Live in and Around Dobbs Ferry

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Compare Dobbs Ferry, NY Cost of Living

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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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$172,500$14,375$4,025$5,176
      Renters$87,092$7,258$2,032$2,613
      To approximate the cost of living and the housing affordability in Dobbs Ferry, NY, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Dobbs Ferry have a median income of $172,500. Therefore, the amount that a consumer should spend on housing costs should be no more than $4,025 per month to avoid calamity and poverty. The renters in the city have an income of about $87,092, which would make their monthly maximum allowable rental costs $2,032.

      New York Sales Tax

      State General Sales Tax With Max Surtax
      New York 4% 8.875%

      New York Income Tax

      State Income Tax (Low) Income Tax (High)
      New York 4% 10.9%

      Goods & Services

      Item Dobbs Ferry National avg. Difference
      Haircut $32.33$24.2633.3%
      Beauty Salon $48.56$45.566.6%
      Toothpaste $3.66$3.701.1%
      Shampoo $1.50$1.2817.4%
      Movie $13.76$12.1313.4%
      Bowling $19.63$18.009.0%

      Groceries

      Item Dobbs Ferry National avg. Difference
      Ground Beef $6.34$5.848.6%
      Fried Chicken $1.61$1.572.4%
      Milk $4.73$4.671.2%
      Potatoes $5.03$4.931.9%
      Pizza $10.07$12.0916.7%
      Beer $10.62$10.412.0%

      Health Care

      Item Dobbs Ferry National avg. Difference
      Optometrist $140.10$125.6811.5%
      Doctor $143.23$135.785.5%
      Dentist $123.00$113.298.6%
      Ibuprofen $11.00$10.653.3%
      Lipitor $401.34$468.6014.4%

      Housing

      Item Dobbs Ferry National avg. Difference
      Home Price $655,000.00$184,700.00254.6%
      Avg. Mortgage Payment $1,857.27$2,346.6920.9%
      Apartment Rent $2,044.00$949.00115.4%

      Transportation

      Item Dobbs Ferry National avg. Difference
      Gasoline $3.33$3.463.7%
      Tire Balancing $57.68$59.923.7%

      Utilities

      Item Dobbs Ferry National avg. Difference
      All Electricity $281.67$193.9945.2%
      Phone $185.16$192.253.7%
      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 Population Cost of Living Index National Avg.
      Greenville CDP (Greene County), NY6041066.1%
      Mount Ivy, NY7,39012221.6%
      Haverstraw, NY12,07612322.7%
      West Haverstraw, NY10,22012323.1%
      Spring Valley, NY32,29512727.2%
      Dobbs Ferry, NY10,95917372.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Montmagny, QC10,961n/a 
      Campton Hills, IL10,96214242.2%
      DeRidder, LA10,955909.7%
      Morgan City, LA10,9638614.0%
      Placerville, CA10,95413130.5%
      Dobbs Ferry, NY10,95917372.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.