Cost of Living Comparison for Binghamton, NY
Updated 2026 · Local data pre-filled
Binghamton's cost of living index is 83 — 17% cheaper than the national average. This factors in housing, groceries, utilities, transportation, and healthcare. Use this calculator to see how your purchasing power would change if you moved to another city.
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How Binghamton Compares to the National Average
Understanding how Binghamton stacks up helps you calibrate your financial planning.
| Metric | Binghamton, NY | US Average | Difference |
|---|---|---|---|
| Median Home Price | $145,000 | $420,800 | -65.5% |
| Median Monthly Rent | $900 | $1,713 | -47.5% |
| Median Household Income | $50,600 | $74,580 | -32.2% |
| Property Tax Rate | 2.40% | 1.10% | +118.2% |
| Cost of Living Index | 83 | 100 | -17.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Binghamton Financial Snapshot
- Population (Metro)
- 250,000
- Unemployment
- 4.6%
- Avg Commute
- 21 min
- Median Age
- 37.2
- Price-to-Rent Ratio
- 13.4x
- Annual Property Tax
- $3,480
Frequently Asked Questions — Binghamton
What is the median home price in Binghamton, NY?
The median home price in Binghamton is $145,000 as of 2025–2026. This is below the national median of $420,800.
What is the average rent in Binghamton?
Median monthly rent in Binghamton is $900. That works out to $10,800/year, or 21% of the median household income — within the commonly recommended 30% of income guideline.
Is Binghamton affordable?
Binghamton's cost of living index is 83 vs. the national average of 100. With a median household income of $50,600/year and a median home price of $145,000, the price-to-income ratio is 2.9x. Binghamton remains relatively affordable compared to many US metros.
What is the property tax rate in Binghamton?
The effective property tax rate in Binghamton is 2.40% of assessed value. On the median home of $145,000, that's roughly $3,480/year ($290/month).