Binghamton, NY Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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 90, with 100 being the average.

  • The cost of living index in Binghamton is 0.9x lower than the national average.

  • Binghamton ranks as the #37 cheapest in New York out of 340.

  • Binghamton ranks as the #1,633 cheapest out of 6,412 in the US.

  • The median home value in Binghamton is $95,200.

  • The median income in Binghamton is $39,012.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
90
Binghamton's Overall Cost Of Living
0.9x
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 90, 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 126.

The standard of living in Binghamton ranks as #37 most affordable out of the 340 places we measured in New York. By definition, that implies Binghamton ranks as the #303 most expensive place in the Empire State.

For more reading on life in Binghamton, check out:

37 out of 340
In New York
1,633 out of 6,412
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 102.

  • The Groceries index in Binghamton is 107.

  • The Health index in Binghamton is 94.

  • The Housing index in Binghamton is 56.

  • The Transportation index in Binghamton is 113.

  • The Utilities index in Binghamton is 110.

Living Expense Binghamton New York National Average
Overall 90 126 100
Services 102 110 100
Groceries 107 104 100
Health 94 105 100
Housing 56 175 100
Transportation 113 107 100
Utilities 110 102 100
For more reading on cost of living around New York, check out:
Binghamton Cost of Living Vs. NY

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 2017-2021. The key points are:

  • The Median Home Value in Binghamton is $95,200.

  • The Median Rent in Binghamton is $771.

  • The Median Income in Binghamton is $39,012.

  • The Home Value To Income in Binghamton is 2.4x.

  • The Rent To Monthly Income in Binghamton is 0.24x.

Statistic Binghamton New York United States
Median Home Value $95,200 $340,600 $244,900
Median Rent $771 $1,390 $1,163
Median Income $39,012 $75,157 $69,021
Home Value To Income 2.4x 4.5x 3.5x
Rent To Monthly Income 0.24x 0.22x 0.2x
Search Homes For Sale In Binghamton, NY
$95,200
Median Home Value
$771
Median Rent
$39,012
Median Income

Binghamton, NY Costs By Category

Detailed Binghamton Services Costs Vs. New York

Item Binghamton New York
Shampoo $1.1 $1.06
Movie $10.58 $10.68
Bowling $16.34 $14.67
Haircut $14.89 $18.62
Beauty Salon $32.72 $39.05

Detailed Binghamton Groceries Costs Vs. New York

Item Binghamton New York
Ground Beef $4.14 $4.22
Fried Chicken $1.61 $1.39
Milk $2.07 $2.05
Potatoes $3.78 $3.29
Pizza $9.31 $10.62
Beer $9.83 $9.38
Toothpaste $2.18 $2.34

Detailed Binghamton Health Costs Vs. New York

Item Binghamton New York
Optometrist $59.08 $108.57
Doctor $78.28 $116.17
Dentist $108.44 $99.13

Detailed Binghamton Transportation Costs Vs. New York

Item Binghamton New York
Gasoline $2.56 $2.22
Tire Balancing $51.69 $50.07

Detailed Binghamton Utilities Costs Vs. New York

Item Binghamton New York
All Electricity $189.4 $167.67
Phone $189.07 $175.64

Binghamton SnackAbility

4
/10
Overall SnackAbility
Jobs
3/10
Housing
5
Affordability
6
Diversity
8.5
Safety
3
Amenities
9.5
Education
7
Commute
9

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 105, 1.2x Binghamton.

  • Cortland, NY has a cost of living index of 89, 1.0x Binghamton.

  • Endicott, NY has a cost of living index of 92, 1.0x Binghamton.

City Population Cost Of Living Vs. Binghamton
Ithaca, NY 31,819 105 1.2x
Cortland, NY 17,577 89 1.0x
Endicott, NY 13,588 92 1.0x
Oneonta, NY 12,764 96 1.1x
Endwell, NY 11,795 95 1.1x
South Hill, NY 7,045 106 1.2x
Norwich, NY 6,982 88 1.0x
Blakely, PA 6,640 96 1.1x
Sayre, PA 5,484 94 1.0x

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