Cost of Living in New Square, NY

With a cost of living index of 138, New Square, NY is a notably expensive place to live. Living here is 38% more expensive than the national average and 27% above the New York state average of 111. New Square is a smaller community of 9,712 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in New Square's cost of living. The median monthly rent is $1,575 (19% above the US median of $1,319), and the median home value sits at $618,800 (103% above the national median of $304,900). At current prices, the median home costs roughly 21.4x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in New Square is $28,880, which is 62% lower than the national median of $75,149. Residents spend roughly 65% of household income on rent. This is well above the 30% affordability threshold, indicating a significant housing cost burden for many residents.

Climate is another factor for anyone considering a move to New Square. The area sees an average annual temperature of 52°F, with summers averaging 72°F and winters around 32°F. Annual rainfall totals 47.8 inches spread over roughly 124 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.