Cost of Living in Barnum Island, NY

With a cost of living index of 195, Barnum Island, NY is one of the most expensive cities in the United States. Living here is 95% more expensive than the national average and 84% above the New York state average of 111. Barnum Island is a small community of 2,173 residents.

Housing costs are the biggest factor in Barnum Island's cost of living. The median monthly rent is $3,306 (151% above the US median of $1,319), and the median home value sits at $680,500 (123% above the national median of $304,900). At current prices, the median home costs roughly 5.8x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Barnum Island is $118,160, which is 57% higher than the national median of $75,149. Residents spend roughly 34% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. While incomes are above average, they do not fully offset the higher cost of living.

Climate is another factor for anyone considering a move to Barnum Island. The area sees an average annual temperature of 54.3°F, with summers averaging 74°F and winters around 35°F. Annual rainfall totals 43.3 inches spread over roughly 121 days.

Everyday prices in the New York-Newark-Jersey City, NY-NJ (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.