Islip, NY

Very High · 157

New York · Population 17,224 · Updated March 2026

$2,192
Median Rent / Month
$122,596
Median Income
$486,900
Median Home Value
$2,356
Owner Costs / Month

Affordability

How far your income goes in Islip

21.5%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in New York

State-level tax rates that affect your costs

10.9%
Income Tax (Top Rate)
4.0%
Sales Tax
1.62%
Property Tax Rate

Estimated Annual Costs

$26,304
Annual Rent
$13,363
State Income Tax
$7,888
Property Tax (est.)

Cost of Living Overview

Islip has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 157 (where 100 equals the national median), Islip residents can expect to pay median rent of $2,192/month while earning a median household income of $122,596/year.

The median home value in Islip, NY is $486,900, with typical monthly owner costs around $2,356 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.5% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

New York's top income tax rate of 10.9% is among the highest in the nation, adding to the overall cost burden. Combined with a 4.0% sales tax rate and 1.62% effective property tax rate, the overall tax environment is a factor in the total cost of living in Islip.

Frequently Asked Questions

Common questions about living costs in Islip

What is the cost of living in Islip, NY?
The cost of living index in Islip, NY is 157 (US average = 100). Median monthly rent is $2,192, median household income is $122,596/year, and the median home value is $486,900.
Is Islip, NY affordable?
No, Islip is more expensive than the national average with a cost index of 157. The rent-to-income ratio is 21.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Islip, NY?
The median gross rent in Islip, NY is $2,192 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $26,304.
What is the median household income in Islip?
The median household income in Islip, NY is $122,596 per year. This compares to the national median of approximately $80,000.
What are the taxes like in New York?
New York has a top income tax rate of 10.9%, a sales tax of 4.0%, and an effective property tax rate of 1.62%.