Cost Of Living in Newark, NY

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	Newark	New York	National
Cost of living	89	117	100
Goods & Services	102	108	100
Groceries	98	102	100
Health care	99	103	100
Housing	62	145	100
Transportation	108	105	100
Utilities	92	100	100

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Cost Of Living Quick Facts

The cost of living in Newark is 24% lower than the New York average
The cost of living in Newark is 11% lower than the national average
Newark housing is 38% 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

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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	$65,926	$5,494	$1,538	$1,978
Renters	$30,302	$2,525	$707	$909

A good way to judge both the affordability of the housing and the cost of living in Newark is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Newark has a median income of about $65,926 for people who own homes. Based on that number, a maximum of $1,538 should be spent on expenses related to housing. Renters have a slightly different median income, which is $30,302. Based on this average, renters should spend no more than $707 on all rental costs if they want to maintain a non-impoverished standard of living.

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	Newark	National avg.	Difference
Haircut	$26.78	$24.26	10.4%
Beauty Salon	$44.58	$45.56	2.2%
Toothpaste	$3.72	$3.70	0.4%
Shampoo	$1.70	$1.28	32.6%
Movie	$15.90	$12.13	31.0%
Bowling	$24.25	$18.00	34.7%

Groceries

Item	Newark	National avg.	Difference
Ground Beef	$6.04	$5.84	3.5%
Fried Chicken	$1.55	$1.57	1.4%
Milk	$5.16	$4.67	10.5%
Potatoes	$5.21	$4.93	5.7%
Pizza	$13.16	$12.09	8.9%
Beer	$11.98	$10.41	15.1%

Health Care

Item	Newark	National avg.	Difference
Optometrist	$124.25	$125.68	1.1%
Doctor	$154.18	$135.78	13.6%
Dentist	$124.68	$113.29	10.1%
Ibuprofen	$11.17	$10.65	4.8%
Lipitor	$398.58	$468.60	14.9%

Housing

Item	Newark	National avg.	Difference
Home Price	$97,500.00	$184,700.00	47.2%
Avg. Mortgage Payment	$5,235.60	$2,346.69	123.1%
Apartment Rent	$792.00	$949.00	16.5%

Transportation

Item	Newark	National avg.	Difference
Gasoline	$3.58	$3.46	3.6%
Tire Balancing	$59.33	$59.92	1.0%

Utilities

Item	Newark	National avg.	Difference
All Electricity	$196.28	$193.99	1.2%
Phone	$200.67	$192.25	4.4%

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.
Port Gibson, NY	859	101	0.7%
Clyde, NY	1,832	85	14.6%
Wolcott, NY	1,534	86	14.3%
North Rose, NY	664	85	14.6%
Sodus, NY	1,742	86	13.9%
Newark, NY	8,868	89	10.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
South Amboy, NJ	8,868	125	25.3%
Farmingdale, NY	8,869	144	44.1%
New Windsor, NY	8,866	118	18.3%
Poteau, OK	8,866	83	16.8%
Fort Knox, KY	8,865	103	2.7%
Newark, NY	8,868	89	10.9%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Newark, NY