A general summary of the cost of living index in Watertown, NY is shown above. Compared to the state average of New York the cost of living index in Watertown, NY is 94, which is 21% lower than the average in New York and compared to the national average it is 6% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Watertown, NY goods and services come in at 10% lower than the average in New York and are 2% lower than compared to the nationwide average.