A+
12%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
28%
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 Lancaster New York National
Cost of living88117100
Goods & Services94108100
Groceries97102100
Health care101103100
Housing72145100
Transportation95105100
Utilities94100100

An Overview of Cost of Living in Lancaster, NY

Getting a feel for the cost of living in Lancaster is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Lancaster is 88, which is 12% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Is Lancaster Affordable?

Is Lancaster 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 Lancaster, the median home price is 30.5% lower than what most folks pay across the country, and monthly rent prices are 21.6% lower than the usual rates. Income levels in Lancaster come in at $54,924, which is 0.7% lower than the national average.

What Factors can Influence the Cost of Living in Lancaster?

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 Lancaster, healthcare costs are 0.9% higher than the national average.

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Lancaster, the transportation index is 5.4% lower 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 Lancaster, the general sales tax rate starts at 4%, and income tax rates begin at 4%.

Where is the Data From?

The Lancaster 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 Lancaster is 25% lower than the New York average
  • The cost of living in Lancaster is 12% lower than the national average
  • Lancaster housing is 28% 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 Lancaster

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Compare Lancaster, 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$69,800$5,817$1,629$2,094
      Renters$35,189$2,932$821$1,056
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lancaster, 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 Lancaster homeowners, is $69,800. This would allow for a maximum of $1,629 per month to be spent on housing costs. For renters, the median monthly income is $35,189 which would result in a maximum of $821 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 Lancaster National avg. Difference
      Haircut $21.65$24.2610.8%
      Beauty Salon $53.07$45.5616.5%
      Toothpaste $3.61$3.702.5%
      Shampoo $1.30$1.281.8%
      Movie $12.76$12.135.2%
      Bowling $14.60$18.0018.9%

      Groceries

      Item Lancaster National avg. Difference
      Ground Beef $6.16$5.845.5%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.67$4.670.0%
      Potatoes $5.26$4.936.5%
      Pizza $10.99$12.099.1%
      Beer $10.47$10.410.6%

      Health Care

      Item Lancaster National avg. Difference
      Optometrist $75.93$125.6839.6%
      Doctor $103.92$135.7823.5%
      Dentist $149.67$113.2932.1%
      Ibuprofen $10.42$10.652.2%
      Lipitor $464.18$468.600.9%

      Housing

      Item Lancaster National avg. Difference
      Home Price $128,400.00$184,700.0030.5%
      Avg. Mortgage Payment $2,421.64$2,346.693.2%
      Apartment Rent $744.00$949.0021.6%

      Transportation

      Item Lancaster National avg. Difference
      Gasoline $3.46$3.460.1%
      Tire Balancing $48.79$59.9218.6%

      Utilities

      Item Lancaster National avg. Difference
      All Electricity $173.44$193.9910.6%
      Phone $195.54$192.251.7%
      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.
      Sloan, NY3,5478316.8%
      Tonawanda city, NY14,9918416.5%
      Lackawanna, NY17,7518515.5%
      Buffalo, NY255,8058614.5%
      Rapids, NY6878614.2%
      Lancaster, NY10,0878811.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Makaha, HI10,08714646.3%
      Sleepy Hollow, NY10,08917271.6%
      Harrisonville, MO10,0849010.2%
      Capitola, CA10,09018181.0%
      Chalco, NE10,092945.6%
      Lancaster, NY10,0878811.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.