F
70%
Overall NAT. AVG.
27%
Goods & Services NAT. AVG.
190%
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 Floral Park New York National
Cost of living170117100
Goods & Services127108100
Groceries113102100
Health care121103100
Housing290145100
Transportation115105100
Utilities102100100

An Overview of Cost of Living in Floral Park, NY

Are you thinking about relocating, but curious about the potential cost of living in Floral Park? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Floral Park stands at 170, making it 70% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Floral Park 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, Floral Park falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a very significant part of the Floral Park cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 190% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Floral Park, you can expect to pay 26.8% more than average for these items, making it a more expensive place to live.

Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Floral Park, it's the same story – grocery costs are 13.4% higher than what people pay across the country.

Is Floral Park Affordable?

Is Floral Park 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 Floral Park is 230.2% higher than the national average, while the average monthly rent prices are 96.3% higher than average. The affordability of any location can also be influenced by median income levels. Floral Park has a median household income of $138,636, which is 150.6% higher than the national average.

What Factors can Influence the Cost of Living in Floral Park?

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Floral Park, healthcare costs are 20.6% higher 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 Floral Park, the standard sales tax rate starts at 4%, and the income tax rates commence at 4%.

Where is the Data From?

The Floral Park 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 Floral Park is 45% higher than the New York average
  • The cost of living in Floral Park is 70% higher than the national average
  • Floral Park housing is 190% 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 Floral Park

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Compare Floral Park, 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$156,458$13,038$3,650$4,694
      Renters$80,938$6,745$1,888$2,428
      The affordability of the housing market in Floral Park, NY as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Floral Park homeowners, the median income is $156,458. This indicates that a monthly maximum of $3,650 should be spent by homeowners on all housing related costs. Renters have a median income of $80,938. This indicates that renters would have a maximum of $1,888 for their rent related monthly costs.

      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 Floral Park National avg. Difference
      Haircut $34.94$24.2644.0%
      Beauty Salon $64.07$45.5640.6%
      Toothpaste $3.96$3.707.0%
      Shampoo $1.69$1.2832.3%
      Movie $13.68$12.1312.8%
      Bowling $29.40$18.0063.3%

      Groceries

      Item Floral Park National avg. Difference
      Ground Beef $5.87$5.840.6%
      Fried Chicken $1.46$1.576.9%
      Milk $4.97$4.676.3%
      Potatoes $5.21$4.935.7%
      Pizza $12.57$12.094.0%
      Beer $11.87$10.4114.0%

      Health Care

      Item Floral Park National avg. Difference
      Optometrist $128.97$125.682.6%
      Doctor $162.24$135.7819.5%
      Dentist $149.64$113.2932.1%
      Ibuprofen $11.15$10.654.6%
      Lipitor $402.75$468.6014.1%

      Housing

      Item Floral Park National avg. Difference
      Home Price $609,900.00$184,700.00230.2%
      Avg. Mortgage Payment $6,916.73$2,346.69194.7%
      Apartment Rent $1,863.00$949.0096.3%

      Transportation

      Item Floral Park National avg. Difference
      Gasoline $3.55$3.462.5%
      Tire Balancing $86.43$59.9244.2%

      Utilities

      Item Floral Park National avg. Difference
      All Electricity $201.27$193.993.8%
      Phone $200.67$192.254.4%
      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.
      Hempstead, NY55,15313635.8%
      Mount Vernon, NY67,62313737.4%
      Roslyn, NY2,88813938.7%
      Freeport, NY42,99314039.9%
      Roosevelt, NY16,52214140.7%
      Floral Park, NY15,97917070.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Cherryland, CA15,97615858.3%
      Brunswick, ME15,97411211.8%
      Hope Mills, NC15,972936.7%
      Crowley, TX15,9721044.4%
      Prospect Heights, IL15,98611817.9%
      Floral Park, NY15,97917070.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.