F
50%
Overall NAT. AVG.
27%
Goods & Services NAT. AVG.
122%
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 Valley Stream New York National
Cost of living150117100
Goods & Services127108100
Groceries113102100
Health care121103100
Housing222145100
Transportation115105100
Utilities102100100

An Overview of Cost of Living in Valley Stream, NY

The cost of living in Valley Stream 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 Valley Stream is 150, which is 50% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Valley Stream is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Valley Stream falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a very significant part of the Valley Stream cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 122.2% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Valley Stream, these items will cost you 26.8% more than what's considered the norm, making it a more expensive place to call home.

The substantial and relentless rise in grocery prices definitely warrants some attention. Over the past two years, grocery expenses have escalated by more than 10%. Having said that, the situation in Valley Stream is even less favorable, with grocery prices here being 13.4% higher than the national average.

Is Valley Stream Affordable?

Wondering if Valley Stream 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 Valley Stream, for example, the median home price is 143.7% higher than what folks pay nationally, and monthly rent is 72.2% higher than the usual rates. Plus, income levels matter too, with Valley Stream boasting a median household income of $116,746, which is 111% higher than the national average.

What Factors can Influence the Cost of Living in Valley Stream?

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 Valley Stream, the prevailing sales tax rate starts at 4%, and income tax rates kick off at 4%.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Valley Stream, the housing index stands at 122.2% higher than the national average.

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 Valley Stream, the transportation index is 15.2% higher than the national average.

Where is the Data From?

The Valley Stream cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

New Real Estate Listings in Valley Stream Area
Search Homes for Sale in Valley Stream, NY

Cost Of Living Quick Facts

  • The cost of living in Valley Stream is 28% higher than the New York average
  • The cost of living in Valley Stream is 50% higher than the national average
  • Valley Stream housing is 122% 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 Valley Stream

See all the best places to live around Valley Stream

Compare Valley Stream, NY Cost of Living

      vs
      How would you rate the cost of living in Valley Stream?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Valley Stream?
      Write a review to give others more information about this area.
      See all Valley Stream 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$129,746$10,812$3,027$3,893
      Renters$52,009$4,334$1,213$1,560
      A good indicator of the general affordability of housing in Valley Stream, NY, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Valley Stream, the median monthly income is $129,746 for those who own their own homes. Under the standard rule, that income level would allow for $3,027 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $52,009, per the median income in the area. That would allow for renters to spend up to $1,213 on monthly rental expenses.

      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 Valley Stream National avg. Difference
      Haircut $34.94$24.2644.0%
      Beauty Salon $64.07$45.5640.6%
      Toothpaste $3.96$3.707.0%
      Shampoo $1.69$1.2832.3%
      Movie $13.68$12.1312.8%
      Bowling $29.40$18.0063.3%

      Groceries

      Item Valley Stream National avg. Difference
      Ground Beef $5.87$5.840.6%
      Fried Chicken $1.46$1.576.9%
      Milk $4.97$4.676.3%
      Potatoes $5.21$4.935.7%
      Pizza $12.57$12.094.0%
      Beer $11.87$10.4114.0%

      Health Care

      Item Valley Stream National avg. Difference
      Optometrist $128.97$125.682.6%
      Doctor $162.24$135.7819.5%
      Dentist $149.64$113.2932.1%
      Ibuprofen $11.15$10.654.6%
      Lipitor $402.75$468.6014.1%

      Housing

      Item Valley Stream National avg. Difference
      Home Price $450,100.00$184,700.00143.7%
      Avg. Mortgage Payment $6,916.73$2,346.69194.7%
      Apartment Rent $1,634.00$949.0072.2%

      Transportation

      Item Valley Stream National avg. Difference
      Gasoline $3.55$3.462.5%
      Tire Balancing $86.43$59.9244.2%

      Utilities

      Item Valley Stream National avg. Difference
      All Electricity $201.27$193.993.8%
      Phone $200.67$192.254.4%
      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.
      Hempstead, NY55,15313635.8%
      Roslyn, NY2,88813938.7%
      Freeport, NY42,99314039.9%
      Roosevelt, NY16,52214140.7%
      Fort Lee, NJ37,84314140.8%
      Valley Stream, NY37,48915049.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Spartanburg, SC37,448919.5%
      Park Ridge, IL37,43113736.9%
      La Presa, CA37,41014444.1%
      Navarre, FL37,3901109.9%
      Menomonee Falls, WI37,61111211.5%
      Valley Stream, NY37,48915049.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.