F
92%
Overall NAT. AVG.
27%
Goods & Services NAT. AVG.
262%
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 Woodmere New York National
Cost of living192117100
Goods & Services127108100
Groceries113102100
Health care121103100
Housing362145100
Transportation115105100
Utilities102100100

An Overview of Cost of Living in Woodmere, NY

Are you thinking about relocating, but curious about the potential cost of living in Woodmere? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Woodmere stands at 192, making it 92% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

If you prioritize affordability when seeking a new place to live, Woodmere 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, Woodmere falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs are a very significant part of the Woodmere 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 262% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

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 Woodmere, you you will have to spend 26.8% more than average when compared to the typical prices for these items, making it a more expensive place to live.

Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Woodmere, it's the same story – grocery costs are 13.4% higher than what people pay across the country.

Is Woodmere Affordable?

Wondering if Woodmere 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 Woodmere, for example, the median home price is 314.4% higher than what folks pay nationally, and monthly rent is 139.7% higher than the usual rates. Plus, income levels matter too, with Woodmere boasting a median household income of $138,812, which is 150.9% higher than the national average.

What Factors can Influence the Cost of Living in Woodmere?

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Woodmere, the groceries index registers 13.4% higher than the national average.

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

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Woodmere, healthcare costs are 20.6% higher than the national average.

Where is the Data From?

The Woodmere 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Woodmere is 64% higher than the New York average
  • The cost of living in Woodmere is 92% higher than the national average
  • Woodmere housing is 262% 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 Woodmere

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Compare Woodmere, 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$150,667$12,556$3,515$4,520
      Renters$64,485$5,374$1,505$1,935
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Woodmere, NY, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Woodmere, homeowners have a median income of $150,667. Using that number, a maximum of $3,515 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $64,485, which means there is a maximum of $1,505 to be spent on the costs of renting a home or apartment.

      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 Woodmere 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 Woodmere 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 Woodmere 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 Woodmere National avg. Difference
      Home Price $765,400.00$184,700.00314.4%
      Avg. Mortgage Payment $6,916.73$2,346.69194.7%
      Apartment Rent $2,275.00$949.00139.7%

      Transportation

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

      Utilities

      Item Woodmere 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.
      Guttenberg, NJ11,28413231.9%
      Hempstead, NY55,15313635.8%
      Fairview CDP, NJ3,84213837.5%
      Roslyn, NY2,88813938.7%
      Freeport, NY42,99314039.9%
      Woodmere, NY17,02019291.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Yorkton, SK17,021n/a 
      Siloam Springs, AR17,031936.9%
      Calverton, MD17,03413333.1%
      Neabsco, VA17,03813635.5%
      Pinewood, FL17,0441077.4%
      Woodmere, NY17,02019291.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.