Cost of Living in Islip Terrace, NY

F
45%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
121%
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 Islip Terrace New York National
Cost of living145117100
Goods & Services113108100
Groceries105102100
Health care110103100
Housing221145100
Transportation102105100
Utilities131100100
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Cost Of Living Quick Facts

  • The cost of living in Islip Terrace is 24% higher than the New York average
  • The cost of living in Islip Terrace is 45% higher than the national average
  • Islip Terrace housing is 121% 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

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Compare Islip Terrace, NY Cost of Living

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      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$136,319$11,360$3,181$4,090
      Renters$86,750$7,229$2,024$2,603
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Islip Terrace, NY, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Islip Terrace homeowners, is $136,319. This would allow for a maximum of $3,181 per month to be spent on housing costs. For renters, the median monthly income is $86,750 which would result in a maximum of $2,024 to be spent on rental 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 Islip Terrace 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 Islip Terrace 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 Islip Terrace 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 Islip Terrace National avg. Difference
      Home Price $357,300.00$184,700.0093.4%
      Avg. Mortgage Payment $1,857.27$2,346.6920.9%
      Apartment Rent $2,698.00$949.00184.3%

      Transportation

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

      Utilities

      Item Islip Terrace 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%
      Stony Brook University, NY8,57411212.4%
      Ocean Beach, NY3111212.4%
      Middle Island, NY11,03012424.2%
      Wyandanch, NY11,63212726.6%
      Islip Terrace, NY5,24414544.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      North Oaks, MN5,24416969.4%
      Mocksville, NC5,2419010.5%
      Rockport, MA5,24716161.3%
      Woodstock, VA5,2471043.7%
      Odessa, MO5,240919.3%
      Islip Terrace, NY5,24414544.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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