F
29%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
76%
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 Rocky Point New York National
Cost of living129117100
Goods & Services108108100
Groceries99102100
Health care113103100
Housing176145100
Transportation103105100
Utilities133100100

An Overview of Cost of Living in Rocky Point, NY

Understanding the cost of living in Rocky Point can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Rocky Point cost of living index is 129, which is 29% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

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 Rocky Point 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, Rocky Point falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs significantly influence the Rocky Point cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 75.7%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Rocky Point Affordable?

Is Rocky Point 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 Rocky Point, for instance, where the median home price falls 77.2% higher than the national average, and monthly rent rates are 72.2% higher than usual. Additionally, median income levels contribute to the equation, with Rocky Point flaunting a median household income of $101,995, 84.4% higher than the national norm.

What Factors can Influence the Cost of Living in Rocky Point?

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Rocky Point, the utilities index is 33.1% higher than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Rocky Point, healthcare costs are 13.3% higher than the national average.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Rocky Point, the groceries index is 1% lower than the national average.

Where is the Data From?

The cost of living in Rocky Point, 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.

New Real Estate Listings in Rocky Point Area
Search Homes for Sale in Rocky Point, NY

Cost Of Living Quick Facts

  • The cost of living in Rocky Point is 11% higher than the New York average
  • The cost of living in Rocky Point is 29% higher than the national average
  • Rocky Point housing is 76% 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 Rocky Point

See all the best places to live around Rocky Point

Compare Rocky Point, NY Cost of Living

      vs
      How would you rate the cost of living in Rocky Point?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Rocky Point?
      Write a review to give others more information about this area.
      See all Rocky Point poll results

      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$111,700$9,308$2,606$3,351
      Renters$58,351$4,863$1,361$1,751
      To approximate the cost of living and the housing affordability in Rocky Point, NY, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Rocky Point have a median income of $111,700. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,606 per month to avoid calamity and poverty. The renters in the city have an income of about $58,351, which would make their monthly maximum allowable rental costs $1,361.

      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 Rocky Point National avg. Difference
      Haircut $39.78$24.2664.0%
      Beauty Salon $69.00$45.5651.4%
      Toothpaste $3.86$3.704.2%
      Shampoo $1.47$1.2814.8%
      Movie $15.07$12.1324.2%
      Bowling $24.00$18.0033.3%

      Groceries

      Item Rocky Point National avg. Difference
      Ground Beef $6.28$5.847.6%
      Fried Chicken $1.59$1.571.4%
      Milk $4.83$4.673.3%
      Potatoes $5.03$4.932.0%
      Pizza $13.21$12.099.3%
      Beer $10.53$10.411.1%

      Health Care

      Item Rocky Point National avg. Difference
      Optometrist $134.70$125.687.2%
      Doctor $162.26$135.7819.5%
      Dentist $136.03$113.2920.1%
      Ibuprofen $11.26$10.655.7%
      Lipitor $375.63$468.6019.8%

      Housing

      Item Rocky Point National avg. Difference
      Home Price $327,200.00$184,700.0077.2%
      Avg. Mortgage Payment $3,730.18$2,346.6959.0%
      Apartment Rent $1,634.00$949.0072.2%

      Transportation

      Item Rocky Point National avg. Difference
      Gasoline $3.47$3.460.2%
      Tire Balancing $63.33$59.925.7%

      Utilities

      Item Rocky Point National avg. Difference
      All Electricity $296.64$193.9952.9%
      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.
      Stony Brook University, NY8,57411212.4%
      Riverside village, NY611946.1%
      Calverton, NY5,28011818.2%
      Mastic Beach, NY15,61012120.8%
      Middle Island, NY11,03012424.2%
      Rocky Point, NY13,13812929.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Warrenville, IL13,13711111.2%
      Henderson, TX13,145928.0%
      Timberlake, VA13,130982.0%
      Stoughton, WI13,1461088.3%
      La Grange Park, IL13,12912625.8%
      Rocky Point, NY13,13812929.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.