F
8%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
4%
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 Newburgh New York National
Cost of living108117100
Goods & Services113108100
Groceries105102100
Health care110103100
Housing96145100
Transportation102105100
Utilities131100100

An Overview of Cost of Living in Newburgh, NY

The cost of living in Newburgh 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 Newburgh is 108, which is 8% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Newburgh are priced in a manner consistent with other areas. This means that residents of Newburgh can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Newburgh goods and services are 12.9% more expensive than the national average, leaving you with less money at the end of the month.

Is Newburgh Affordable?

Is Newburgh 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 Newburgh, the median home price is 13.6% lower than what most folks pay across the country, and monthly rent prices are 20% higher than the usual rates. Income levels in Newburgh come in at $43,435, which is 21.5% lower than the national average.

What Factors can Influence the Cost of Living in Newburgh?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Newburgh, the transportation index is 1.8% 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 Newburgh, the general sales tax rate starts at 4%, and income tax rates begin at 4%.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Newburgh, healthcare costs are 9.9% higher than the national average.

Where is the Data From?

The cost of living data in Newburgh displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Newburgh is 8% lower than the New York average
  • The cost of living in Newburgh is 8% higher than the national average
  • Newburgh housing is 4% 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 Newburgh

See all the best places to live around Newburgh

Compare Newburgh, 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$78,376$6,531$1,829$2,352
      Renters$33,590$2,799$784$1,008
      The affordability of the housing market in Newburgh, 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 Newburgh homeowners, the median income is $78,376. This indicates that a monthly maximum of $1,829 should be spent by homeowners on all housing related costs. Renters have a median income of $33,590. This indicates that renters would have a maximum of $784 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 Newburgh 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 Newburgh 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 Newburgh 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 Newburgh National avg. Difference
      Home Price $159,500.00$184,700.0013.6%
      Avg. Mortgage Payment $1,857.27$2,346.6920.9%
      Apartment Rent $1,139.00$949.0020.0%

      Transportation

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

      Utilities

      Item Newburgh 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.
      Maybrook, NY3,5861098.8%
      Mountain Lodge Park, NY2,82411212.4%
      Poughkeepsie, NY30,34111312.6%
      Freedom Plains, NY69711312.6%
      Chester, NY4,0571055.0%
      Newburgh, NY28,1461087.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Eagle, ID28,14513636.1%
      Oakleaf Plantation, FL28,1531099.1%
      Benicia, CA28,15817170.9%
      Enterprise, AL28,170964.2%
      Hobart, IN28,1201000.3%
      Newburgh, NY28,1461087.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.