A+
12%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
28%
Housing NAT. AVG.
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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 North Tonawanda New York National
Cost of living88117100
Goods & Services94108100
Groceries97102100
Health care101103100
Housing72145100
Transportation95105100
Utilities94100100

An Overview of Cost of Living in North Tonawanda, NY

Getting a feel for the cost of living in North Tonawanda is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in North Tonawanda is 88, which is 12% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Is North Tonawanda Affordable?

Is North Tonawanda affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in North Tonawanda, the median home price is 30% lower than the national average and monthly rent prices are 22.6% lower than the typical rates. Additionally, the median income levels play a role in affordability, with North Tonawanda boasting a median household income of $60,673, 9.7% higher than the national average.

What Factors can Influence the Cost of Living in North Tonawanda?

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In North Tonawanda, the housing index is 27.8% lower than the national average.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In North Tonawanda, healthcare costs are 0.9% higher than the national average.

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In North Tonawanda, the baseline sales tax rate begins at 4%, and income tax rates start at 4%.

Where is the Data From?

The North Tonawanda cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in North Tonawanda is 25% lower than the New York average
  • The cost of living in North Tonawanda is 12% lower than the national average
  • North Tonawanda housing is 28% lower 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 North Tonawanda

See all the best places to live around North Tonawanda

Compare North Tonawanda, NY Cost of Living

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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$77,192$6,433$1,801$2,316
      Renters$31,163$2,597$727$935
      A good way to judge both the affordability of the housing and the cost of living in North Tonawanda is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. North Tonawanda has a median income of about $77,192 for people who own homes. Based on that number, a maximum of $1,801 should be spent on expenses related to housing. Renters have a slightly different median income, which is $31,163. Based on this average, renters should spend no more than $727 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 North Tonawanda National avg. Difference
      Haircut $21.65$24.2610.8%
      Beauty Salon $53.07$45.5616.5%
      Toothpaste $3.61$3.702.5%
      Shampoo $1.30$1.281.8%
      Movie $12.76$12.135.2%
      Bowling $14.60$18.0018.9%

      Groceries

      Item North Tonawanda National avg. Difference
      Ground Beef $6.16$5.845.5%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.67$4.670.0%
      Potatoes $5.26$4.936.5%
      Pizza $10.99$12.099.1%
      Beer $10.47$10.410.6%

      Health Care

      Item North Tonawanda National avg. Difference
      Optometrist $75.93$125.6839.6%
      Doctor $103.92$135.7823.5%
      Dentist $149.67$113.2932.1%
      Ibuprofen $10.42$10.652.2%
      Lipitor $464.18$468.600.9%

      Housing

      Item North Tonawanda National avg. Difference
      Home Price $129,200.00$184,700.0030.0%
      Avg. Mortgage Payment $2,421.64$2,346.693.2%
      Apartment Rent $735.00$949.0022.6%

      Transportation

      Item North Tonawanda National avg. Difference
      Gasoline $3.46$3.460.1%
      Tire Balancing $48.79$59.9218.6%

      Utilities

      Item North Tonawanda National avg. Difference
      All Electricity $173.44$193.9910.6%
      Phone $195.54$192.251.7%
      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.
      South Lockport, NY8,3448020.4%
      Niagara Falls, NY47,9788218.5%
      Sloan, NY3,5478316.8%
      Tonawanda city, NY14,9918416.5%
      Lockport, NY20,4208415.7%
      North Tonawanda, NY30,3388811.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Atwater, CA30,33611615.9%
      Poughkeepsie, NY30,34111312.6%
      Cibolo, TX30,33311010.2%
      Garner, NC30,3451054.9%
      Milford Mill, MD30,35511110.9%
      North Tonawanda, NY30,3388811.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.