F
165%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
520%
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 Rye New York National
Cost of living265117100
Goods & Services113108100
Groceries105102100
Health care110103100
Housing620145100
Transportation102105100
Utilities131100100

An Overview of Cost of Living in Rye, NY

Getting a feel for the cost of living in Rye 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 Rye is 265, which is 165% higher 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.

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

Housing costs significantly influence the Rye 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 520.4%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Rye, you you will have to spend 12.9% more than average when compared to the typical prices for these items, making it a more expensive place to live.

Is Rye Affordable?

Is Rye affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Rye, the median home price is 684.2% higher than the national average and monthly rent prices are 137.9% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Rye boasting a median household income of $193,919, 250.5% higher than the national average.

What Factors can Influence the Cost of Living in Rye?

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Rye, the healthcare costs are 9.9% higher than the national average.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Rye, the transportation index is 1.8% higher than the national average.

Where is the Data From?

The cost of living data in Rye 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 Rye is 126% higher than the New York average
  • The cost of living in Rye is 165% higher than the national average
  • Rye housing is 520% 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 Rye

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Compare Rye, 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$241,198$20,100$5,628$7,237
      Renters$114,618$9,552$2,674$3,439
      A good way to judge both the affordability of the housing and the cost of living in Rye 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. Rye has a median income of about $241,198 for people who own homes. Based on that number, a maximum of $5,628 should be spent on expenses related to housing. Renters have a slightly different median income, which is $114,618. Based on this average, renters should spend no more than $2,674 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 Rye 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 Rye 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 Rye 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 Rye National avg. Difference
      Home Price $1,448,500.00$184,700.00684.2%
      Avg. Mortgage Payment $1,857.27$2,346.6920.9%
      Apartment Rent $2,258.00$949.00137.9%

      Transportation

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

      Utilities

      Item Rye 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.
      Greenville CDP (Greene County), NY6041066.1%
      Haverstraw, NY12,07612322.7%
      Hartsdale, NY3,20513332.7%
      Mount Vernon, NY67,62313737.4%
      Roslyn, NY2,88813938.7%
      Rye, NY15,769265164.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Berea, KY15,773918.6%
      Dublin, GA15,7628613.6%
      Warsaw, IN15,7578812.3%
      Stallings, NC15,78111414.0%
      Pataskala, OH15,751991.3%
      Rye, NY15,769265164.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.