These Are The 10 Cheapest Places To Live In New York For 2019


We used data and science to determine which places in New York go easy on your wallet.

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Editor’s Note: We updated this article for 2019. This is our fourth time ranking the cheapest places to live in New York.

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A wise sage once said:

“She works hard for the money…”

And these places in New York definitely treat her right.

You see, these are the cities and places in New York where the cost of living is the lowest; where your salary goes the furthest. And when if you have the luxury of choosing where to live in the Empire State, then the cost of living should play a role in the decision.

So we did the hard for you and crunched the numbers to find the cities that have lower food, energy, and housing costs. After the dust settled on our analysis of the 165 largest places in New York, we were left with this set of the best value for your money.

So where is the cheapest place to live in New York? That would be Waterloo.

So listen up Kaser (the most expensive place in New York) as we explain how we created this ranking. You could learn some things from the rest of the state.

And if you already knew these places were cheap, check out some more reading about New York and the cheapest places in the country:

How We Determined The Most Affordable Places To Live In The Empire State For 2019

Map Of The Cheapest Places To Live In New York
The two most important things to think about when it comes to being able to afford if you can live comes down to:

  1. How much do money do I make?
  2. How much do I have spend to live there?

You need to understand your costs in the context of how much money you make.

For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.

With that example in mind, we derived several statistics from the latest Census American Community Survey 2013-2017 around incomes and costs. They are:

  • Median Home Price / Median Income (lower is better)
  • Median Income / Median Rent (Higher is better)
  • Median Home Price

We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).

You can then compare these metrics in each of the places in New York to figure out which is the least expensive.

What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city.

So we used that cost of living index in order to rank all of the 165 places in New York that have more than 5,000 people.

The place with the lowest cost of living in New York according to the data is Waterloo.

The 10 Cheapest Places To Live In New York For 2019

Waterloo, NY

Overall SnackAbility

5
/10

Population: 5,247
Rank Last Year: 1 (No Change)
Home Price To Income Ratio: 1.6x (1st most affordable)
Income To Rent Ratio: 80.1x (11th cheapest)
More On Waterloo: Homes For Sale | Data

Waterloo is a town in Seneca County, New York, United States. The population was 7,642 at the 2010 census. The town, as well as its major community, are named after Waterloo, Belgium.

The median income in Waterloo comes in at $51,958 and the median home value is $83,200 for 2019.

Ilion, NY

Overall SnackAbility

5
/10

Population: 7,930
Rank Last Year: 2 (No Change)
Home Price To Income Ratio: 1.7x (3rd most affordable)
Income To Rent Ratio: 71.2x (30th cheapest)
More On Ilion: Homes For Sale | Data

Ilion is a village in Herkimer County, New York, United States. The population was 8,053 at the 2010 census. “Ilion” is a name for the ancient city of Troy.

The median income in Ilion comes in at $44,813 and the median home value is $77,800 for 2019.

Hornell, NY

Overall SnackAbility

7
/10

Population: 8,332
Rank Last Year: 5 (Up 2)
Home Price To Income Ratio: 1.6x (2nd most affordable)
Income To Rent Ratio: 65.6x (47th cheapest)
More On Hornell: Homes For Sale | Data | Photos

Hornell is a city in Steuben County, New York, United States. The population was 8,563 at the 2010 census. The city is named after the Hornell family, early settlers.

The median income in Hornell comes in at $40,400 and the median home value is $66,200 for 2019.

Ogdensburg, NY

Overall SnackAbility

5
/10

Population: 10,851
Rank Last Year: 6 (Up 2)
Home Price To Income Ratio: 1.8x (4th most affordable)
Income To Rent Ratio: 64.6x (51st cheapest)
More On Ogdensburg: Homes For Sale | Data | Photos

Ogdensburg is a city in St. Lawrence County, New York, United States. The population was 11,128 at the 2010 census. In the late 18th century, European-American settlers named the community after American land owner and developer Samuel Ogden.

The median income in Ogdensburg comes in at $38,901 and the median home value is $68,100 for 2019.

Olean, NY

Overall SnackAbility

6
/10

Population: 13,911
Rank Last Year: 4 (Down 1)
Home Price To Income Ratio: 1.9x (10th most affordable)
Income To Rent Ratio: 64.7x (50th cheapest)
More On Olean: Homes For Sale | Data | Photos

Olean is a city in Cattaraugus County, New York, United States. Olean is the largest city in Cattaraugus County and serves as its financial, business, transportation and entertainment center. It is one of the principal cities of the Southern Tier region of New York.

The median income in Olean comes in at $40,291 and the median home value is $77,600 for 2019.

Medina, NY

Source: Public domain
Overall SnackAbility

5
/10

Population: 5,814
Rank Last Year: 3 (Down 3)
Home Price To Income Ratio: 1.8x (5th most affordable)
Income To Rent Ratio: 61.0x (60th cheapest)
More On Medina: Homes For Sale | Data | Photos

Medina is a village in the Towns of Shelby and Ridgeway in Orleans County, New York, United States. The population was 6,065 at the 2010 census, making it the county’s most populous municipality. The village was named by its surveyor, Ebenezer Mix. It is part of the Rochester Metropolitan Statistical Area.

The median income in Medina comes in at $39,741 and the median home value is $71,300 for 2019.

Kenmore, NY

Source: Public domain
Overall SnackAbility

7
/10

Population: 15,319
Rank Last Year: 13 (Up 6)
Home Price To Income Ratio: 2.0x (14th most affordable)
Income To Rent Ratio: 81.6x (8th cheapest)
More On Kenmore: Homes For Sale | Data | Photos

Kenmore is a village in Erie County, New York, United States. The population was 15,423 at the 2010 census. It is part of the Buffalo-Niagara Falls metropolitan area.

The median income in Kenmore comes in at $59,785 and the median home value is $119,900 for 2019.

North Tonawanda, NY

Source: Public domain
Overall SnackAbility

8.5
/10

Population: 30,752
Rank Last Year: 9 (Up 1)
Home Price To Income Ratio: 2.1x (23rd most affordable)
Income To Rent Ratio: 79.6x (14th cheapest)
More On North Tonawanda: Homes For Sale | Data | Photos

North Tonawanda is a city in Niagara County, New York, United States. The population was 31,568 at the 2010 census. It is part of the Buffalo-Niagara Falls Metropolitan Statistical Area. The city is named after Tonawanda Creek, its south border. Tonawanda in the Seneca tongue means “Swift Running Water”.

The median income in North Tonawanda comes in at $53,002 and the median home value is $112,600 for 2019.

Hamburg, NY

Source: Public domain
Overall SnackAbility

6
/10

Population: 9,603
Rank Last Year: 8 (Down 1)
Home Price To Income Ratio: 2.1x (20th most affordable)
Income To Rent Ratio: 95.3x (3rd cheapest)
More On Hamburg: Homes For Sale | Data | Photos

Hamburg is a town in Erie County, New York, United States. As of the 2010 census, the town had a population of 56,936. It is named after the city of Hamburg, in Germany. The town is on the western border of the county and is south of Buffalo. Hamburg is one of the Southtowns in Erie County. The villages of Hamburg and Blasdell are in the town.

The median income in Hamburg comes in at $75,459 and the median home value is $159,500 for 2019.

Depew, NY

Overall SnackAbility

6
/10

Population: 15,283
Rank Last Year: 19 (Up 9)
Home Price To Income Ratio: 2.1x (17th most affordable)
Income To Rent Ratio: 71.9x (27th cheapest)
More On Depew: Homes For Sale | Data

Depew is a village in Erie County, New York, United States. The population was 15,303 at the 2010 census. It is part of the Buffalo-Niagara Falls Metropolitan Statistical Area. The village is named for Chauncey Mitchell Depew, the president of the New York Central Railroad and later a US senator who was one of the original investors who bought the land for the village which was incorporated in 1894.

The median income in Depew comes in at $54,967 and the median home value is $114,600 for 2019.

There You Have It Mr. Or Mrs. New York Cheapskate

If you’re looking at the cost of living numbers in New York, this is an accurate list of the most affordable places to live in new york for 2019.

Here’s a look at the most expensive cities in New York according to the data:

  1. Kaser
  2. Sleepy Hollow
  3. Manorhaven

For more New York reading, check out:

Detailed List Of The Cheapest Places To Live In New York

Rank City CheapScore Population Home/Income Ratio Income/Rent Ratio
1 Waterloo 10.67 5,247 1.6x 80.1x
2 Ilion 15.5 7,930 1.7x 71.2x
3 Hornell 17.67 8,332 1.6x 65.6x
4 Ogdensburg 20.0 10,851 1.8x 64.6x
5 Olean 23.83 13,911 1.9x 64.7x
6 Medina 24.0 5,814 1.8x 61.0x
7 Kenmore 24.67 15,319 2.0x 81.6x
8 North Tonawanda 28.33 30,752 2.1x 79.6x
9 Hamburg 30.33 9,603 2.1x 95.3x
10 Depew 31.0 15,283 2.1x 71.9x

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