Summit, NY Cost of Living


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Summit cost of living score
88.5
Less expensive
11.5% lower
than the US average
27.2% lower
than the New York average
Summit, New York gets a BestPlaces Cost of Living score of 88.5, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 11.5% lower than the U.S. average and 27.2% lower than the average for New York.

Summit, NY

Housing costs in Summit?
A typical home costs $175,800, which is 48.0% less expensive than the national average of $338,100 and 57.5% less expensive than the average New York home, at $413,600. Renting a two-bedroom unit in Summit costs $1,260 per month, which is 11.9% cheaper than the national average of $1,430 and 55.6% cheaper than the state average of $1,960.

Can I afford Summit?
To live comfortably in Summit, New York, a minimum annual income of $33,840 for a family, and $41,200 for a single person is recommended.

What does A.I. say about Summit?
The cost of living in Summit, NY is quite high, with the median home value at $555,100 and an average rent of $1,559 per month. Property taxes are also on the higher end, with homeowners paying an average of 2.71% of their assessed value. Despite these higher costs, the area offers a wealth of amenities such as dining, entertainment, shopping, and cultural attractions that make it worth the cost. With easy access to New York City and other major cities along the east coast, Summit is an ideal place for those who want to experience city life while still enjoying a small-town feel.
   Cost of living score
     CategoriesSummitNew YorkUnited States
  88.5121.5100.0
  99103.8100
  115.4120.7100.0
  47.8127.9100.0
  $175,800$413,600$338,100
  101.2%115.9%100.0%
  115.7140.7100.0
  108.0121.8100.0

   100=National Average

   Average Rent by Bedroom Size
Crime
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