F
42%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
111%
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 Holbrook New York National
Cost of living142117100
Goods & Services113108100
Groceries105102100
Health care110103100
Housing211145100
Transportation102105100
Utilities131100100

An Overview of Cost of Living in Holbrook, NY

Knowing the cost of living in Holbrook allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Holbrook stands at 142, marking it 42% higher than the national average.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Holbrook is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Holbrook falls into this category, which may not align with your goal of finding a budget-friendly living environment.

When it comes to the cost of living in Holbrook, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 111.2% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Holbrook, these items will cost you 12.9% more than what most folks pay, making it a bit more expensive to live here.

Is Holbrook Affordable?

Is Holbrook affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Holbrook, for instance, where the median home price falls 115.2% higher than the national average, and monthly rent rates are 102.1% higher than usual. Additionally, median income levels contribute to the equation, with Holbrook flaunting a median household income of $111,250, 101.1% higher than the national norm.

What Factors can Influence the Cost of Living in Holbrook?

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Holbrook, healthcare costs are 9.9% higher than the national average.

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 Holbrook, the groceries index registers 5.4% higher than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Holbrook, the general sales tax rate starts at 4%, and income tax rates begin at 4%.

Where is the Data From?

The cost of living in Holbrook, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Holbrook is 21% higher than the New York average
  • The cost of living in Holbrook is 42% higher than the national average
  • Holbrook housing is 111% 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 Holbrook

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Compare Holbrook, 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$126,335$10,528$2,948$3,790
      Renters$81,833$6,819$1,909$2,455
      The affordability of the housing market in Holbrook, 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 Holbrook homeowners, the median income is $126,335. This indicates that a monthly maximum of $2,948 should be spent by homeowners on all housing related costs. Renters have a median income of $81,833. This indicates that renters would have a maximum of $1,909 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 Holbrook 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 Holbrook 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 Holbrook 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 Holbrook National avg. Difference
      Home Price $397,400.00$184,700.00115.2%
      Avg. Mortgage Payment $1,857.27$2,346.6920.9%
      Apartment Rent $1,918.00$949.00102.1%

      Transportation

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

      Utilities

      Item Holbrook 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.
      Ocean Beach, NY3111212.4%
      Stony Brook University, NY8,57411212.4%
      Saltaire, NY2511212.4%
      Mastic Beach, NY15,61012120.8%
      Middle Island, NY11,03012424.2%
      Holbrook, NY25,79414242.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lebanon, PA25,779928.4%
      Kankakee, IL25,8188415.9%
      Mercer Island, WA25,820261161.2%
      Mauldin, SC25,829981.6%
      Beloeil, QC25,755n/a 
      Holbrook, NY25,79414242.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.