F
Overall 13%
Goods & Services 14%
Housing 18%
Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; 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.
IndexHighland FallsNew YorkNational
Cost of living113117100
Goods & Services114108100
Groceries108108100
Health care107101100
Housing118145100
Transportation111102100
Utilities10597100

Key findings

  • The cost of living in Highland Falls is 4% lower than the New York average
  • The cost of living in Highland Falls is 13% higher than the national average
  • Highland Falls housing is 18% higher than the national average
  • New York general sales tax is 21% lower than the national average
  • New York state income tax is 62% higher than the national average

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Compare Highland Falls, 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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$103,139$8,595$2,406$3,094
      Renters$57,321$4,777$1,337$1,720
      A good indicator of the general affordability of housing in Highland Falls, NY, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Highland Falls, the median monthly income is $103,139 for those who own their own homes. Under the standard rule, that income level would allow for $2,406 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $57,321, per the median income in the area. That would allow for renters to spend up to $1,337 on monthly rental expenses.

      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%

      Goods & Services

      ItemHighland FallsNational avg.Difference
      Haircut $24.00$17.4937.2%
      Beauty Salon $39.00$38.172.2%
      Toothpaste $2.01$2.3213.4%
      Shampoo $1.09$1.017.7%
      Movie $12.14$10.7213.2%
      Bowling $18.40$13.8632.7%

      Groceries

      ItemHighland FallsNational avg.Difference
      Ground Beef $3.85$3.901.3%
      Fried Chicken $1.66$1.4018.9%
      Milk $2.21$1.9612.6%
      Potatoes $3.39$3.186.5%
      Pizza $11.99$10.3915.4%
      Beer $8.99$9.232.6%

      Health Care

      ItemHighland FallsNational avg.Difference
      Optometrist $113.00$106.346.3%
      Doctor $96.67$115.2516.1%
      Dentist $121.00$98.3823.0%
      Ibuprofen $8.95$9.263.4%
      Lipitor $537.05$466.4715.1%

      Housing

      ItemHighland FallsNational avg.Difference
      Home Price $218,500.00$184,700.0018.3%
      Avg. Mortgage Payment $2,311.62$1,273.3281.5%
      Apartment Rent $1,099.00$949.0015.8%

      Transportation

      ItemHighland FallsNational avg.Difference
      Gasoline $2.77$2.597.0%
      Tire Balancing $59.00$48.9020.7%

      Utilities

      ItemHighland FallsNational avg.Difference
      All Electricity$184.45$167.6010.1%
      Phone $177.03$163.428.3%
      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.
      Newburgh, NY28,40611414%
      Maybrook, NY3,1781077%
      Mountain Lodge Park, NY1,7261077%
      Harriman, NY2,5561099%
      Walden, NY6,76911010%
      Highland Falls, NY3,82811313%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Fox Island, WA3,82914040%
      Quitman, GA3,82782-18%
      West Menlo Park, CA3,830301201%
      Madison, IL3,82579-21%
      Lancaster, KY3,83184-16%
      Highland Falls, NY3,82811313%
      Source: The Highland Falls, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.