Cost of Living in Binghamton
Binghamton's cost of living runs genuinely low overall, anchored by affordable housing and no local income tax, even amid a real, disclosed, notably high property tax rate.
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Learn moreGenuinely affordable housing
Binghamton home-price figures ran $158,145-$205,000 across sources and geographic scope this pass -- well below the national median.
No local income tax, but a notably high property tax rate
Binghamton levies no separate local income tax -- only NYC and Yonkers do among NY cities. Its own effective property tax rate (~3.03%), however, runs among the highest documented anywhere in this project's New York coverage.
Affordable rent
One-bedroom rent ran approximately $1,000-$1,224 across sources reviewed, genuinely affordable relative to the national median.
Key takeaways
- Housing runs genuinely affordable, well below the national median across sources.
- No local/city income tax applies, though the effective property tax rate (~3.03%) runs among the highest in this project's NY coverage.
- Rent runs genuinely affordable across the sources reviewed.
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