Owego, NY, has a cost of living index that is slightly below the nationwide average. The overall index stands at 91, which is 9% lower than the national average of 100. This means that, on average, residents in Owego can expect to spend less on most goods and services compared to the average American.
Specifically, housing costs are 15% lower, while groceries and utilities are just slightly below the national average. Transportation and healthcare costs are also close to the national average, with healthcare being 2% higher. This makes Owego a potentially attractive location for those looking to reduce their living expenses.
The cost of living in Owego, NY, presents a favorable comparison to the nationwide average. The housing index in Owego stands at 85, indicating that housing costs are 15% lower than the national average. This makes it an attractive option for those seeking more affordable living arrangements without sacrificing quality.
Additionally, Owego's grocery index is 92, which is 2% lower than the national average. This suggests that the cost of food and household supplies remains relatively competitive. Utilities in Owego are priced at 95, just 5% above the national average. Transportation costs are also slightly lower, with an index of 90, meaning they are 10% cheaper than the national average. Healthcare costs, however, are slightly higher at 98, indicating a 2% increase compared to the national average. Miscellaneous expenses in Owego are at 89, which is 11% below the national average. Overall, Owego offers a cost-effective living environment with several categories below the national average.
