Wading River 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.
IndexWading RiverNew YorkNational
Cost of living index145117100
IndexWading RiverNew YorkNational
Goods & Services index125108100
Groceries index109108100
Health care index113101100
Housing index199145100
Transportation index110102100
Utilities index14297100
A general overview of the cost of living index for Wading River, NY is displayed above. In Wading River, NY, the overall cost of living index is 145, which is 23% higher than the New York average and 45% 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 Wading River, NY, the city's goods and services are 15% higher than the New York average and 25% higher than the U.S. average.
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Did you know?

  • The cost of living in Wading River is 23% higher than the New York average.
  • The cost of living in Wading River is 45% higher than the national average.
  • The cost of housing in Wading River is 99% 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 Wading River, NY Cost of living To Other Cities

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      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      The salary calculator is used in order to provide a comparison of your current salary in Wading River, NY to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Wading River, NY, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Wading River, NY salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$118,058$9,838$2,755$3,542
      Renters$75,000$6,250$1,750$2,250
      If you want to find a good determining factor for the cost of living and the general affordability of housing in Wading River, NY, all you must look at 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 Wading River, NY, the median monthly income is $118,058 for those who own their own homes. Under the standard rule, that income level would allow for $2,755 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $75,000, per the median income in the area. That would allow for renters to spend up to $1,750 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%
      When assessing the complete cost of living in Wading River, NY, the New York income tax and the New York sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The New York maximum surtax is 8.875%, and the New York sales tax is 4%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 4% to 8.82% in New York.

      Goods & Services

      ItemWading RiverNational avg.Difference
      Haircut $27.40$17.4956.7%
      Beauty Salon $53.80$38.1740.9%
      Toothpaste $1.75$2.3224.6%
      Shampoo $0.97$1.014.1%
      Movie $12.70$10.7218.4%
      Bowling $19.20$13.8638.5%

      Groceries

      ItemWading RiverNational avg.Difference
      Ground Beef $3.99$3.902.3%
      Fried Chicken $1.68$1.4020.4%
      Milk $2.51$1.9627.9%
      Potatoes $3.99$3.1825.4%
      Pizza $9.39$10.399.7%
      Beer $9.99$9.238.2%

      Health Care

      ItemWading RiverNational avg.Difference
      Optometrist $114.60$106.347.8%
      Doctor $131.60$115.2514.2%
      Dentist $116.80$98.3818.7%
      Ibuprofen $9.09$9.261.8%
      Lipitor $521.84$466.4711.9%

      Housing

      ItemWading RiverNational avg.Difference
      Home Price $428,700.00$184,700.00132.1%
      Avg. Mortgage Payment $1,408.65$1,273.3210.6%
      Apartment Rent $1,156.00$949.0021.8%

      Transportation

      ItemWading RiverNational avg.Difference
      Gasoline $2.84$2.599.6%
      Tire Balancing $55.94$48.9014.4%

      Utilities

      ItemWading RiverNational avg.Difference
      All Electricity$299.32$167.6078.6%
      Phone $174.02$163.426.5%
      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.
      Riverside, NY4,74797-3%
      Riverside village, NY6111022%
      Northville village, NY1,01811010%
      Mastic Beach, NY14,86712323%
      Calverton, NY7,08912626%
      Wading River, NY7,74214545%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Three Rivers, MI7,74377-23%
      Quincy, FL7,74386-14%
      Princeton, IL7,74188-12%
      Lander, WY7,7441011%
      Southwest Ranches, FL7,74516565%
      Wading River, NY7,74214545%
      Source: The Wading River, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.