C+
0%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
5%
Housing NAT. AVG.
Search Homes for Sale
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 Cohoes New York National
Cost of living100117100
Goods & Services106108100
Groceries103102100
Health care93103100
Housing95145100
Transportation97105100
Utilities102100100

An Overview of Cost of Living in Cohoes, NY

Getting a feel for the cost of living in Cohoes 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 Cohoes is 100, which is 0% equal to 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.

Everyday expenditures like food, housing, goods and services, transportation and health care in Cohoes are priced in a manner consistent with other areas. This means that residents of Cohoes can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Cohoes Affordable?

Is Cohoes an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Cohoes, the median home price is 7.4% lower than what most folks pay across the country, and monthly rent prices are 0.8% higher than the usual rates. Income levels in Cohoes come in at $55,266, which is 0.1% lower than the national average.

What Factors can Influence the Cost of Living in Cohoes?

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Cohoes, the utilities index is 1.7% 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 Cohoes, the housing index stands at 4.9% lower than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Cohoes, the standard sales tax rate starts at 4%, and the income tax rates commence at 4%.

Where is the Data From?

The Cohoes 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.

New Real Estate Listings in Cohoes Area
Search Homes for Sale in Cohoes, NY

Cost Of Living Quick Facts

  • The cost of living in Cohoes is 14% lower than the New York average
  • The cost of living in Cohoes is equal to the national average
  • Cohoes housing is 5% lower 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 Cohoes

See all the best places to live around Cohoes

Compare Cohoes, NY Cost of Living

      vs
      How would you rate the cost of living in Cohoes?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Cohoes?
      Write a review to give others more information about this area.
      See all Cohoes poll results

      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$71,717$5,976$1,673$2,152
      Renters$42,635$3,553$995$1,279
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Cohoes, 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 Cohoes, homeowners have a median income of $71,717. Using that number, a maximum of $1,673 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $42,635, which means there is a maximum of $995 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 Cohoes National avg. Difference
      Haircut $28.28$24.2616.6%
      Beauty Salon $51.36$45.5612.7%
      Toothpaste $3.74$3.701.1%
      Shampoo $1.28$1.280.3%
      Movie $13.08$12.137.8%
      Bowling $15.96$18.0011.3%

      Groceries

      Item Cohoes National avg. Difference
      Ground Beef $6.06$5.843.7%
      Fried Chicken $1.60$1.571.5%
      Milk $4.85$4.673.9%
      Potatoes $5.09$4.933.2%
      Pizza $14.69$12.0921.5%
      Beer $10.90$10.414.7%

      Health Care

      Item Cohoes National avg. Difference
      Optometrist $132.47$125.685.4%
      Doctor $111.33$135.7818.0%
      Dentist $111.69$113.291.4%
      Ibuprofen $10.90$10.652.3%
      Lipitor $436.57$468.606.8%

      Housing

      Item Cohoes National avg. Difference
      Home Price $171,000.00$184,700.007.4%
      Avg. Mortgage Payment $2,531.65$2,346.697.9%
      Apartment Rent $957.00$949.000.8%

      Transportation

      Item Cohoes National avg. Difference
      Gasoline $3.55$3.462.5%
      Tire Balancing $50.33$59.9216.0%

      Utilities

      Item Cohoes National avg. Difference
      All Electricity $196.70$193.991.4%
      Phone $195.71$192.251.8%
      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.
      Schenectady, NY65,336946.5%
      Green Island, NY2,647954.7%
      Mechanicville, NY5,077972.9%
      Scotia, NY7,648972.7%
      Waterford, NY2,141972.6%
      Cohoes, NY16,7081000.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Farmingville, NY16,70514039.9%
      Sunnyside, WA16,703964.1%
      Highland Village, TX16,70113939.0%
      Sylvan Lake, AB16,694n/a 
      Seagoville, TX16,7261011.2%
      Cohoes, NY16,7081000.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.