Menands, New York Cost Of Living

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D-

Overall 10%

Goods & Services 11%

Housing 17%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Menands	New York	National
Cost of living	110	119	100
Goods & Services	111	110	100
Groceries	113	113	100
Health care	105	101	100
Housing	117	145	100
Transportation	99	108	100
Utilities	98	98	100

Key findings

The cost of living in Menands is 8% lower than the New York average
The cost of living in Menands is 10% higher than the national average
Menands housing is 17% 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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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	$79,239	$6,603	$1,849	$2,377
Renters	$62,611	$5,218	$1,461	$1,879

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Menands, NY, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Menands, homeowners have a median income of $79,239. Using that number, a maximum of $1,849 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $62,611, which means there is a maximum of $1,461 to be spent on the costs of renting a home or apartment.

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%	8.82%

Goods & Services

Item	Menands	National avg.	Difference
Haircut	$23.50	$20.27	15.9%
Beauty Salon	$45.33	$40.39	12.2%
Toothpaste	$2.48	$2.36	5.3%
Shampoo	$1.09	$1.08	1.0%
Movie	$13.71	$10.99	24.8%
Bowling	$15.67	$15.49	1.1%

Groceries

Item	Menands	National avg.	Difference
Ground Beef	$3.65	$4.30	15.1%
Fried Chicken	$1.50	$1.40	7.0%
Milk	$2.14	$2.20	2.9%
Potatoes	$3.92	$3.22	21.8%
Pizza	$10.54	$10.74	1.9%
Beer	$10.87	$9.60	13.2%

Health Care

Item	Menands	National avg.	Difference
Optometrist	$141.61	$109.73	29.1%
Doctor	$99.00	$118.34	16.3%
Dentist	$115.89	$100.94	14.8%
Ibuprofen	$9.67	$9.93	2.6%
Lipitor	$476.64	$469.53	1.5%

Housing

Item	Menands	National avg.	Difference
Home Price	$211,500.00	$184,700.00	14.5%
Avg. Mortgage Payment	$1,398.58	$1,229.62	13.7%
Apartment Rent	$1,150.00	$949.00	21.2%

Transportation

Item	Menands	National avg.	Difference
Gasoline	$2.81	$2.71	3.6%
Tire Balancing	$47.66	$51.86	8.1%

Utilities

Item	Menands	National avg.	Difference
All Electricity	$162.72	$170.84	4.8%
Phone	$191.59	$187.18	2.4%

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.
Schenectady, NY	65,554	96	4.3%
Green Island, NY	2,613	96	3.5%
Scotia, NY	7,732	98	1.8%
Rensselaer, NY	9,435	98	1.6%
Watervliet, NY	10,207	99	1.1%
Menands, NY	3,998	110	10.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Danielson, CT	3,999	107	7.1%
Sparwood, BC	3,999	n/a
Grant-Valkaria, FL	3,996	114	14.1%
Le Sueur, MN	3,996	89	10.6%
Wood Village, OR	3,996	100	0.1%
Menands, NY	3,998	110	10.0%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.