F
46%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
123%
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 South Farmingdale New York National
Cost of living146117100
Goods & Services113108100
Groceries105102100
Health care110103100
Housing223145100
Transportation102105100
Utilities131100100

An Overview of Cost of Living in South Farmingdale, NY

The cost of living in South Farmingdale 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 South Farmingdale is 146, which is 46% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

If you prioritize affordability when seeking a new place to live, South Farmingdale may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, South Farmingdale falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs make up a big chunk of the cost of living in South Farmingdale, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 123.3% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

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, South Farmingdale goods and services are 12.9% more expensive than the national average, leaving you with less money at the end of the month.

Is South Farmingdale Affordable?

Wondering if South Farmingdale is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In South Farmingdale, for example, the median home price is 141.9% higher than what folks pay nationally, and monthly rent is 79.9% higher than the usual rates. Plus, income levels matter too, with South Farmingdale boasting a median household income of $137,393, which is 148.4% higher than the national average.

What Factors can Influence the Cost of Living in South Farmingdale?

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In South Farmingdale, the prevailing sales tax rate starts at 4%, and income tax rates kick off at 4%.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall 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 South Farmingdale, the transportation index is 1.8% higher than the national average.

Where is the Data From?

The South Farmingdale cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors 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 South Farmingdale is 25% higher than the New York average
  • The cost of living in South Farmingdale is 46% higher than the national average
  • South Farmingdale housing is 123% 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 South Farmingdale

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Compare South Farmingdale, 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$145,024$12,085$3,384$4,351
      Renters$0$0$0$0
      A good way to judge both the affordability of the housing and the cost of living in South Farmingdale 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. South Farmingdale has a median income of about $145,024 for people who own homes. Based on that number, a maximum of $3,384 should be spent on expenses related to housing. Renters have a slightly different median income, which is $0. Based on this average, renters should spend no more than $0 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 South Farmingdale 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 South Farmingdale 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 South Farmingdale 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 South Farmingdale National avg. Difference
      Home Price $446,700.00$184,700.00141.9%
      Avg. Mortgage Payment $1,857.27$2,346.6920.9%
      Apartment Rent $1,707.00$949.0079.9%

      Transportation

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

      Utilities

      Item South Farmingdale 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.
      Saltaire, NY2511212.4%
      Wyandanch, NY11,63212726.6%
      Central Islip, NY33,59113029.6%
      Brentwood, NY62,74313029.8%
      North Bay Shore, NY19,72813030.2%
      South Farmingdale, NY14,76614645.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Hobe Sound, FL14,7641043.6%
      Mount Vernon, IL14,7698218.1%
      Whitewater, WI14,7621011.0%
      Gloversville, NY14,7718812.4%
      Sterling, IL14,7748217.6%
      South Farmingdale, NY14,76614645.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.