F
36%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
90%
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 Bay Shore New York National
Cost of living136117100
Goods & Services113108100
Groceries105102100
Health care110103100
Housing190145100
Transportation102105100
Utilities131100100

An Overview of Cost of Living in Bay Shore, NY

Knowing the cost of living in Bay Shore allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Bay Shore stands at 136, marking it 36% higher than the national average.

If you prioritize affordability when seeking a new place to live, Bay Shore may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Bay Shore falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs make up a big chunk of the cost of living in Bay Shore, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 90% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Bay Shore, you you will have to spend 12.9% more than average when compared to the typical prices for these items, making it a more expensive place to live.

Is Bay Shore Affordable?

Is Bay Shore affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Bay Shore, for instance, where the median home price falls 97.1% higher than the national average, and monthly rent rates are 73.6% higher than usual. Additionally, median income levels contribute to the equation, with Bay Shore flaunting a median household income of $87,278, 57.8% higher than the national norm.

What Factors can Influence the Cost of Living in Bay Shore?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Bay Shore, the transportation index is 1.8% higher than the national average.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Bay Shore, the housing index stands at 90% higher than the national average.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Bay Shore, the healthcare costs are 9.9% higher than the national average.

Where is the Data From?

The Bay Shore 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 Bay Shore is 16% higher than the New York average
  • The cost of living in Bay Shore is 36% higher than the national average
  • Bay Shore housing is 90% higher than the national average
  • New York general sales tax is 22% lower than the national average
  • New York state income tax is 54% higher than the national average

Most Affordable Places to Live in and Around Bay Shore

See all the best places to live around Bay Shore

Compare Bay Shore, NY Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$117,247$9,771$2,736$3,518
      Renters$44,571$3,714$1,040$1,337
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Bay Shore, 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 Bay Shore, homeowners have a median income of $117,247. Using that number, a maximum of $2,736 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $44,571, which means there is a maximum of $1,040 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% 10.9%

      Goods & Services

      Item Bay Shore National avg. Difference
      Haircut $32.33$24.2633.3%
      Beauty Salon $48.56$45.566.6%
      Toothpaste $3.66$3.701.1%
      Shampoo $1.50$1.2817.4%
      Movie $13.76$12.1313.4%
      Bowling $19.63$18.009.0%

      Groceries

      Item Bay Shore National avg. Difference
      Ground Beef $6.34$5.848.6%
      Fried Chicken $1.61$1.572.4%
      Milk $4.73$4.671.2%
      Potatoes $5.03$4.931.9%
      Pizza $10.07$12.0916.7%
      Beer $10.62$10.412.0%

      Health Care

      Item Bay Shore National avg. Difference
      Optometrist $140.10$125.6811.5%
      Doctor $143.23$135.785.5%
      Dentist $123.00$113.298.6%
      Ibuprofen $11.00$10.653.3%
      Lipitor $401.34$468.6014.4%

      Housing

      Item Bay Shore National avg. Difference
      Home Price $364,000.00$184,700.0097.1%
      Avg. Mortgage Payment $1,857.27$2,346.6920.9%
      Apartment Rent $1,647.00$949.0073.6%

      Transportation

      Item Bay Shore National avg. Difference
      Gasoline $3.33$3.463.7%
      Tire Balancing $57.68$59.923.7%

      Utilities

      Item Bay Shore National avg. Difference
      All Electricity $281.67$193.9945.2%
      Phone $185.16$192.253.7%
      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.
      Stony Brook University, NY8,57411212.4%
      Ocean Beach, NY3111212.4%
      Saltaire, NY2511212.4%
      Wyandanch, NY11,63212726.6%
      Central Islip, NY33,59113029.6%
      Bay Shore, NY31,81913635.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Spring Valley, CA31,86615049.5%
      Liberty, MO31,761973.4%
      Savage, MN31,75811717.5%
      Marrero, LA31,751936.8%
      Wheat Ridge, CO31,88912929.4%
      Bay Shore, NY31,81913635.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.