Retirement Savings Calculator for Binghamton, NY
Updated 2026 · Local data pre-filled
The median household income in Binghamton is $50,600. With a cost of living index of 83, your retirement needs will be lower than average. Planners generally recommend saving 10–15% of income; at Binghamton's median income that's $6,072–$7,590 per year.
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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).