F
114%
Overall NAT. AVG.
27%
Goods & Services NAT. AVG.
336%
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 Garden City New York National
Cost of living214117100
Goods & Services127108100
Groceries113102100
Health care121103100
Housing436145100
Transportation115105100
Utilities102100100

An Overview of Cost of Living in Garden City, NY

The cost of living in Garden City 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 Garden City is 214, which is 114% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

If you value affordability in your search for a new place to live, Garden City may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Garden City falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs make up a big chunk of the cost of living in Garden City, 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 335.6% 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 Garden City, you you will have to spend 26.8% more than average when compared to the typical prices for these items, making it a more expensive place to live.

The relentless increase in grocery prices is a noteworthy trend. In the last two years, grocery costs have experienced an upward trajectory of over 10%. Unfortunately, Garden City is no exception, where grocery prices are 13.4% above the national average.

Is Garden City Affordable?

Is Garden City 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 Garden City, the median home price is 374.6% higher than what most folks pay across the country, and monthly rent prices are 244.8% higher than the usual rates. Income levels in Garden City come in at $186,607, which is 237.3% higher than the national average.

What Factors can Influence the Cost of Living in Garden City?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Garden City, the baseline sales tax rate begins at 4%, and income tax rates start at 4%.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Garden City, the housing index is 335.6% higher than the national average.

Where is the Data From?

The Garden City 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 Garden City is 83% higher than the New York average
  • The cost of living in Garden City is 114% higher than the national average
  • Garden City housing is 336% 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 Garden City

See all the best places to live around Garden City

Compare Garden City, 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$190,985$15,915$4,456$5,730
      Renters$101,850$8,488$2,376$3,056
      A good indicator of the general affordability of housing in Garden City, NY, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Garden City, the median monthly income is $190,985 for those who own their own homes. Under the standard rule, that income level would allow for $4,456 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $101,850, per the median income in the area. That would allow for renters to spend up to $2,376 on monthly rental expenses.

      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 Garden City 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 Garden City 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 Garden City 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 Garden City National avg. Difference
      Home Price $876,500.00$184,700.00374.6%
      Avg. Mortgage Payment $6,916.73$2,346.69194.7%
      Apartment Rent $3,272.00$949.00244.8%

      Transportation

      Item Garden City National avg. Difference
      Gasoline $3.55$3.462.5%
      Tire Balancing $86.43$59.9244.2%

      Utilities

      Item Garden City 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.
      Wyandanch, NY11,63212726.6%
      Hempstead, NY55,15313635.8%
      Copiague, NY23,20013332.8%
      Mount Vernon, NY67,62313737.4%
      North Amityville, NY18,89013333.3%
      Garden City, NY22,384214113.8%

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      City Population Cost of Living Index National Avg.
      Westmount, QC22,392n/a 
      Saint-Lambert, QC22,414n/a 
      Middletown, DE22,35011717.1%
      West Pensacola, FL22,4188515.0%
      Scugog, ON22,436n/a 
      Garden City, NY22,384214113.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.