F
40%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
104%
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 Farmingville New York National
Cost of living140117100
Goods & Services113108100
Groceries105102100
Health care110103100
Housing204145100
Transportation102105100
Utilities131100100

An Overview of Cost of Living in Farmingville, NY

The cost of living in Farmingville affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Farmingville is 140, which is 40% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Farmingville is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Farmingville falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs significantly influence the Farmingville cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 104%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Farmingville, these items will cost you 12.9% more than what's considered the norm, making it a more expensive place to call home.

Is Farmingville Affordable?

Is Farmingville an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Farmingville is 98% higher than the national average, while the average monthly rent prices are 117.9% higher than average. The affordability of any location can also be influenced by median income levels. Farmingville has a median household income of $113,646, which is 105.4% higher than the national average.

What Factors can Influence the Cost of Living in Farmingville?

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Farmingville, the groceries index registers 5.4% 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 Farmingville, the housing index stands at 104% higher than the national average.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Farmingville, the transportation index is 1.8% higher than the national average.

Where is the Data From?

The cost of living data in Farmingville displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Farmingville is 20% higher than the New York average
  • The cost of living in Farmingville is 40% higher than the national average
  • Farmingville housing is 104% 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 Farmingville

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Compare Farmingville, 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$117,125$9,760$2,733$3,514
      Renters$61,463$5,122$1,434$1,844
      To approximate the cost of living and the housing affordability in Farmingville, NY, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Farmingville have a median income of $117,125. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,733 per month to avoid calamity and poverty. The renters in the city have an income of about $61,463, which would make their monthly maximum allowable rental costs $1,434.

      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 Farmingville 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 Farmingville 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 Farmingville 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 Farmingville National avg. Difference
      Home Price $365,700.00$184,700.0098.0%
      Avg. Mortgage Payment $1,857.27$2,346.6920.9%
      Apartment Rent $2,068.00$949.00117.9%

      Transportation

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

      Utilities

      Item Farmingville 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.
      Saltaire, NY2511212.4%
      Ocean Beach, NY3111212.4%
      Stony Brook University, NY8,57411212.4%
      Calverton, NY5,28011818.2%
      Mastic Beach, NY15,61012120.8%
      Farmingville, NY16,70514039.9%

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      Highland Village, TX16,70113939.0%
      Sylvan Lake, AB16,694n/a 
      Opelousas, LA16,6878613.8%
      Farmingville, NY16,70514039.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.