How Much Does It Cost To Live In CNY?

We all complain that New York taxes are high. But how much does it actually cost to live comfortably in Central New York?

The Economic Policy Institute has a tool on their website to determine how much income is necessary for a family to have a modest standard of living. They broke down estimated monthly costs for our area in a variety of categories and arrived at the following "ideal" annual incomes:

• Onondaga County: $97,696
• Madison County: $93,104
• Oneida County: $89,593
• Herkimer County: $85,998

Are the figures higher or lower than you would have guessed? EPI used the following categories to determine target income - housing, food, transportation, childcare, healthcare, basic necessities and taxes. They did not include saving for retirement or other expenses. Here's EPI's monthly breakdown of each expense for Oneida County:

• Housing: $798
• Food: $756
• Child Care: $1932
• Transportation: $1160
• Healthcare: $1154
• Other Necessities: $627
• Taxes: $1039

These estimates are based on a family of 2 adults and 2 children. Do you spend more or less in any of these categories? You can use the Family Budget Calculator on their site to change the location or size of the family.

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