Summit, NY is a small town located in the state of New York. It has an affordable cost of living, with two bedroom rent at only $1,260 compared to the national average of $1,430. Grocery costs are also lower than average with an index of 99 versus the US’s 100. The town is home to a few businesses, such as Summit Grocery Store and Summit Cafe. For those who enjoy outdoor activities like hiking or biking, there is Long Hill Park which provides miles of scenic trails and breathtaking views from its peak. Additionally, if you're looking for a place to shop or explore local culture there's the Central Avenue Shopping District that has boutiques and eateries galore. Overall, Summit is a great place to live with plenty of things to do!
Summit has an unemployment rate of 6.5%. The US average is 6.0%.
Summit has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 26.0%, which is lower than the US average of 33.5%.
Tax Rates for Summit
- The Sales Tax Rate for Summit is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Summit is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Summit
- The average income of a Summit resident is $24,234 a year. The US average is $28,555 a year.
- The Median household income of a Summit resident is $77,596 a year. The US average is $69,021 a year.