Cost of Living in Head of the Harbor, NY

With a cost of living index of 217, Head of the Harbor, NY is one of the most expensive cities in the United States. Living here is 117% more expensive than the national average and 106% above the New York state average of 111. Head of the Harbor is a small community of 1,378 residents.

Housing costs are the biggest factor in Head of the Harbor's cost of living. The median monthly rent is $2,833 (115% above the US median of $1,319), and the median home value sits at $1,123,900 (269% above the national median of $304,900). At current prices, the median home costs roughly 4.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Head of the Harbor is $250,001, which is 233% higher than the national median of $75,149. Residents spend roughly 14% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Head of the Harbor. The area sees an average annual temperature of 53.1°F, with summers averaging 73°F and winters around 34°F. Annual rainfall totals 46 inches spread over roughly 122 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.