B+
12%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
45%
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 Fulton New York National
Cost of living88117100
Goods & Services101108100
Groceries99102100
Health care103103100
Housing55145100
Transportation108105100
Utilities105100100

An Overview of Cost of Living in Fulton, NY

Are you thinking about relocating, but curious about the potential cost of living in Fulton? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Fulton stands at 88, making it 12% lower 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.

Fulton housing costs are 45.3% less than the national average, making this area an affordable place to live. Your net income can be heavily impacted by housing expenses, at times exceeding 30%. Fortunately, this area demonstrates that both homeownership and renting costs are significantly more budget-friendly than in the rest of the country. With such favorable housing affordability, Fulton residents can earmark a more manageable portion of their income to housing.

Is Fulton Affordable?

Is Fulton affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Fulton, the median home price is 57.2% lower than the national average and monthly rent prices are 17.6% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Fulton boasting a median household income of $46,223, 16.4% lower than the national average.

What Factors can Influence the Cost of Living in Fulton?

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Fulton, the housing index is 45.3% lower than the national average.

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Fulton, the utilities index stands at 4.6% higher than the national average.

Where is the Data From?

The Fulton 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 Fulton Area
Search Homes for Sale in Fulton, NY

Cost Of Living Quick Facts

  • The cost of living in Fulton is 25% lower than the New York average
  • The cost of living in Fulton is 12% lower than the national average
  • Fulton housing is 45% 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 Fulton

See all the best places to live around Fulton

Compare Fulton, NY Cost of Living

      vs
      How would you rate the cost of living in Fulton?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Fulton?
      Write a review to give others more information about this area.
      See all Fulton 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$60,846$5,071$1,420$1,826
      Renters$26,664$2,222$622$800
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Fulton, 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 Fulton, homeowners have a median income of $60,846. Using that number, a maximum of $1,420 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $26,664, which means there is a maximum of $622 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 Fulton National avg. Difference
      Haircut $20.03$24.2617.4%
      Beauty Salon $42.39$45.567.0%
      Toothpaste $3.62$3.702.2%
      Shampoo $1.33$1.284.1%
      Movie $13.27$12.139.4%
      Bowling $16.74$18.007.0%

      Groceries

      Item Fulton National avg. Difference
      Ground Beef $5.93$5.841.6%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.71$4.670.8%
      Potatoes $5.13$4.933.9%
      Pizza $14.83$12.0922.7%
      Beer $10.15$10.412.5%

      Health Care

      Item Fulton National avg. Difference
      Optometrist $160.58$125.6827.8%
      Doctor $115.23$135.7815.1%
      Dentist $110.48$113.292.5%
      Ibuprofen $10.49$10.651.5%
      Lipitor $530.04$468.6013.1%

      Housing

      Item Fulton National avg. Difference
      Home Price $79,100.00$184,700.0057.2%
      Avg. Mortgage Payment $2,384.28$2,346.691.6%
      Apartment Rent $782.00$949.0017.6%

      Transportation

      Item Fulton National avg. Difference
      Gasoline $3.59$3.463.8%
      Tire Balancing $69.82$59.9216.5%

      Utilities

      Item Fulton National avg. Difference
      All Electricity $166.89$193.9914.0%
      Phone $194.41$192.251.1%
      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.
      SUNY Oswego, NY3,6561022.4%
      Hannibal, NY6938910.8%
      Cato, NY4848910.7%
      Oswego, NY17,3719010.0%
      Parish, NY5409010.0%
      Fulton, NY11,2098811.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Ridgefield, NJ11,20915352.5%
      Snyder, TX11,2118416.4%
      Robstown, TX11,2148218.2%
      Springdale, OH11,201972.8%
      Grand Rapids, MN11,218972.9%
      Fulton, NY11,2098811.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.