New Hempstead 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.
IndexNew HempsteadNew YorkNational
Cost of living index151117100
IndexNew HempsteadNew YorkNational
Goods & Services index114108100
Groceries index108108100
Health care index107101100
Housing index245145100
Transportation index111102100
Utilities index10597100
A general overview of the cost of living index for New Hempstead, NY is displayed above. In New Hempstead, NY, the overall cost of living index is 151, which is 29% higher than the New York average and 51% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of New Hempstead, NY, the city's goods and services are 5% higher than the New York average and 14% higher than the U.S. average.
How would you rate the cost of living in New Hempstead?
Write a review to give others more information about this area.
Is the cost of living increasing or decreasing in New Hempstead?
Write a review to give others more information about this area.
See all New Hempstead poll results

Did you know?

  • The cost of living in New Hempstead is 29% higher than the New York average.
  • The cost of living in New Hempstead is 51% higher than the national average.
  • The cost of housing in New Hempstead is 145% 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.

Compare New Hempstead, NY Cost of living To Other Cities

      vs

      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
      The salary calculator allows you to compare how much your current salary in New Hempstead, NY would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than New Hempstead, NY, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The New Hempstead, NY salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$112,500$9,375$2,625$3,375
      Renters$82,898$6,908$1,934$2,487
      A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in New Hempstead, NY, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. New Hempstead, NY has a median income of about $112,500 for people who own homes. Based on that number, a person should spend a maximum of $2,625 on expenses related to housing. Renters have a slightly different median income, which is $82,898. Based on this average, renters should spend no more than $1,934 on all of their rental costs if they want to maintain a non-impoverished standard of living.

      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 New Hempstead, 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

      ItemNew HempsteadNational 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

      ItemNew HempsteadNational 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

      ItemNew HempsteadNational 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

      ItemNew HempsteadNational avg.Difference
      Home Price $471,200.00$184,700.00155.1%
      Avg. Mortgage Payment $2,311.62$1,273.3281.5%
      Apartment Rent $2,096.00$949.00120.9%

      Transportation

      ItemNew HempsteadNational avg.Difference
      Gasoline $2.77$2.597.0%
      Tire Balancing $59.00$48.9020.7%

      Utilities

      ItemNew HempsteadNational 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.
      Greenville CDP (Greene County), NY6041055%
      Harriman, NY2,5561099%
      Chester, NY3,89611313%
      Prospect Park, NJ5,91911818%
      Mount Ivy, NY6,79211818%
      New Hempstead, NY5,31115151%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Monticello, IN5,31285-15%
      McGuire AFB, NJ5,30913737%
      Eastman, GA5,31585-15%
      Rothschild, WI5,30790-10%
      Bret Harte, CA5,31589-11%
      New Hempstead, NY5,31115151%
      Source: The New Hempstead, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.