Binghamton, NY Cost Of Living
Cost Of Living In Binghamton, NY Summary
Cost of living in Binghamton research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Binghamton is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New York, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Binghamton is 87, with 100 being the average.
The cost of living index in Binghamton is 0.9x lower than the national average.
Binghamton ranks as the #18 cheapest in New York out of 341.
Binghamton ranks as the #777 cheapest out of 6,489 in the US.
The median home value in Binghamton is $179,175.
The median income in Binghamton is $44,331.
Table Of Contents
Binghamton's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Binghamton, NY?
According to the most recent data on the cost of living, Binghamton has an overall cost of living index of 87, which is 0.9x lower than the national index of 100.
Compared to New York, Binghamton has a cost of living index that's 0.7x lower than New York's index of 119.
The standard of living in Binghamton ranks as #18 most affordable out of the 341 places we measured in New York. By definition, that implies Binghamton ranks as the #323 most expensive place in the Empire State.
For more reading on life in Binghamton, check out:
In New York
In America
Binghamton Cost Of Living Vs. New York
Six factors go into calculating the cost of living index in Binghamton. Here is how it fairs on each of the criteria:
The Services index in Binghamton is 92.
The Groceries index in Binghamton is 100.
The Health index in Binghamton is 97.
The Housing index in Binghamton is 60.
The Transportation index in Binghamton is 94.
The Utilities index in Binghamton is 104.
| Living Expense | Binghamton | New York | National Average | |
|---|---|---|---|---|
| Overall | 87 | 119 | 100 | |
| Services | 92 | 110 | 100 | |
| Groceries | 100 | 103 | 100 | |
| Health | 97 | 101 | 100 | |
| Housing | 60 | 145 | 100 | |
| Transportation | 94 | 105 | 100 | |
| Utilities | 104 | 99 | 100 | |
Binghamton, NY Housing Cost Breakdown
Housing swings affordability the most between places in New York, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Binghamton is $179,175.
The Median Rent in Binghamton is $867.
The Median Income in Binghamton is $44,331.
The Home Value To Income in Binghamton is 4.0x.
The Rent To Monthly Income in Binghamton is 0.23x.
| Statistic | Binghamton | New York | United States |
|---|---|---|---|
| Median Home Value | $179,175 | $508,764 | $303,400 |
| Median Rent | $867 | $1,576 | $1,348 |
| Median Income | $44,331 | $84,578 | $78,538 |
| Home Value To Income | 4.0x | 6.0x | 3.9x |
| Rent To Monthly Income | 0.23x | 0.22x | 0.21x |
Median Home Value
Median Rent
Median Income
Binghamton, NY Costs By Category
Detailed Binghamton Services Costs Vs. New York
| Item | Binghamton | New York |
|---|---|---|
| Shampoo | $1.53 | $1.28 |
| Movie | $10.2 | $12.13 |
| Bowling | $13.92 | $18 |
| Haircut | $15.07 | $24.26 |
| Beauty Salon | $34.93 | $45.56 |
Detailed Binghamton Groceries Costs Vs. New York
| Item | Binghamton | New York |
|---|---|---|
| Ground Beef | $5.7 | $5.84 |
| Fried Chicken | $1.36 | $1.57 |
| Milk | $4.59 | $4.67 |
| Potatoes | $5.35 | $4.93 |
| Pizza | $9.94 | $12.09 |
| Beer | $11.82 | $10.41 |
| Toothpaste | $3.62 | $3.7 |
Detailed Binghamton Health Costs Vs. New York
| Item | Binghamton | New York |
|---|---|---|
| Optometrist | $107.51 | $125.68 |
| Doctor | $98.82 | $135.78 |
| Dentist | $136.17 | $113.29 |
Detailed Binghamton Transportation Costs Vs. New York
| Item | Binghamton | New York |
|---|---|---|
| Gasoline | $3.64 | $3.46 |
| Tire Balancing | $42.06 | $59.92 |
Detailed Binghamton Utilities Costs Vs. New York
| Item | Binghamton | New York |
|---|---|---|
| All Electricity | $205.85 | $193.99 |
| Phone | $196.0 | $192.25 |
Binghamton SnackAbility
/10
Cost Of Living In Cities Around Binghamton
The cost of living varies in the cities and towns around Binghamton. Here's a quick look at the cost of living in the most populous nearby places:
Ithaca, NY has a cost of living index of 111, 1.3x Binghamton.
Cortland, NY has a cost of living index of 90, 1.0x Binghamton.
Oneonta, NY has a cost of living index of 101, 1.2x Binghamton.
| City | Population | Cost Of Living | Vs. Binghamton |
|---|---|---|---|
| Ithaca, NY | 31,792 | 111 | 1.3x |
| Cortland, NY | 17,465 | 90 | 1.0x |
| Oneonta, NY | 14,467 | 101 | 1.2x |
| Endicott, NY | 13,456 | 85 | 1.0x |
| Endwell, NY | 11,821 | 91 | 1.0x |
| Norwich, NY | 6,880 | 95 | 1.1x |
| South Hill, NY | 6,805 | 111 | 1.3x |
| Blakely, PA | 6,661 | 97 | 1.1x |
| Sayre, PA | 5,444 | 92 | 1.1x |
| Clarks Summit, PA | 5,058 | 99 | 1.1x |
