Cheapest Places to Live in New York

New York, known for its iconic cityscapes, diverse cultural offerings, and rich history, offers a wide range of living experiences. Landmarks such as Times Square, Niagara Falls, and the Statue of Liberty highlight the state's appeal. The state's economy is one of the largest and most diverse in the world, driven by sectors such as finance, technology, and tourism. New York's tax structure includes relatively high income and property taxes, which can impact the overall affordability for residents. Despite recent inflation and rising food costs, New York remains one of the more affordable states in the northeastern region, especially in its smaller towns and rural areas. The combination of a diverse economy and manageable living costs makes New York an attractive place for those seeking affordability and quality of life.

Affordable living in New York can often be found in smaller towns and suburban areas where housing costs and everyday expenses are lower. These regions provide a more manageable cost of living, which is essential for maintaining financial stability. Affordability is a key factor in livability, as it allows residents to enjoy a comfortable standard of living without undue financial strain. Factors contributing to the cheapest places to live in New York include lower housing demand in less populated areas, supportive local economic policies, and efficient public services. Utilizing C2ER's cost of living data helps to identify these affordable regions, ensuring that potential residents can make informed decisions. In a state known for its cultural diversity and economic opportunities, finding affordable living options enhances the overall living experience.

South Lockport Population: 8,344 32% cheaper than New York average

Med. Home Value: $67,000 Med. Rent: $578 Med. Household Inc.: $48,724

With a cost of living index that is 32% cheaper than the state average, South Lockport is the cheapest place to live in New York. This area offers residents a remarkable blend of relatively low housing costs, budget-friendly grocery prices, affordable utilities, and economical health care services, making it an attractive destination for those seeking to stretch their dollars further. Whether you're a young professional, a growing family, or someone looking to enjoy a more relaxed pace of life, South Lockport provides an inviting and cost-effective environment to call home.

Salamanca Population: 5,466 31% cheaper than New York average

Med. Home Value: $66,400 Med. Rent: $641 Med. Household Inc.: $33,942

The second most affordable city in New York is Salamanca and stands out for its cost-effective lifestyle. With an overall cost of living that is 31% cheaper than the New York average, overall goods and services, housing, utilities, transportation and health care costs fall within a reasonable range. Median household income levels are steady and come in at , which helps to increase the purchasing power of the local residents.

Dunkirk Population: 11,812 31% cheaper than New York average

Med. Home Value: $67,700 Med. Rent: $724 Med. Household Inc.: $36,282

Dunkirk lands in the #3 spot for the cheapest cities to live in New York, with a cost of living that is 31% cheaper than the state average. With home prices averaging and rental rates coming in around , it helps that household income levels average about , which assists with paying the mortgage or your monthly rent. Its robust public school system and accessible health care further enhance its appeal, making it a great place to settle down. The strong community spirit and ample recreational opportunities add to its charm.

Olean Population: 13,580 31% cheaper than New York average

Med. Home Value: $76,700 Med. Rent: $640 Med. Household Inc.: $41,500

The cost of everyday grocery items, goods & services and of course housing, can have a significant impact on the overall cost of living in any area. Olean offers a picturesque and affordable living environment, with a cost of living that is 31% cheaper than the state average. Everyday items like ground beef , eggs , coffee and pizza are all fairly reasonable compared to most other cities, which helps reduce those grocery bills. Home prices are also fairly affordable (compared to the state average), coming in at around .

Niagara Falls Population: 47,978 30% cheaper than New York average

Med. Home Value: $78,500 Med. Rent: $649 Med. Household Inc.: $41,137

For those wanting to live well on a budget, Niagara Falls is ideal, with a cost of living that is 30% cheaper than the state average. Reasonable housing prices (compared to the New York average) of and rental prices of are paired with economical goods and services and a range of free or low-cost recreational activities. The city's proactive economic development initiatives also ensure a steady stream of job opportunities, making it a smart choice for those prioritizing financial ease.

Tonawanda city Population: 14,991 29% cheaper than New York average

Med. Home Value: $94,600 Med. Rent: $666 Med. Household Inc.: $48,047

Tonawanda city comes in at #6 on our list of the cheapest cities in New York and is a haven for those seeking affordability without sacrificing convenience. The city is known for its discount shopping centers and budget-friendly dining options and has a cost of living that is 29% cheaper than New York. The city's local markets provide fresh produce and other groceries at reduced prices, while parks and community centers offer free entertainment and leisure. This city is perfect for enjoying a high quality of life at a low cost.

Medina Population: 5,829 29% cheaper than New York average

Med. Home Value: $81,800 Med. Rent: $820 Med. Household Inc.: $45,134

With its cost-effective lifestyle, Medina is an attractive destination for those looking to live affordably. The city boasts suitable housing costs, affordable healthcare, and a variety of budget-friendly dining options. The community is welcoming and vibrant, providing residents with a rich social life at a fraction of the cost. Median income levels come in at , which provides financial stability, purchasing power and increases the quality of life in the city.

Jamestown Population: 29,290 28% cheaper than New York average

Med. Home Value: $66,400 Med. Rent: $611 Med. Household Inc.: $34,767

A lower cost of living allows individuals to manage their expenses more effectively, reducing the risk of financial stress and debt. When essential costs such as housing, food, transportation, and healthcare are more affordable, people can achieve greater financial stability and resilience. Jamestown fits that mold and has a cost of living that is 28% cheaper than New York.

Hornell Population: 8,274 28% cheaper than New York average

Med. Home Value: $67,100 Med. Rent: $629 Med. Household Inc.: $43,381

Lower living costs can lead to a higher quality of life by making it easier for people to afford comfortable housing, nutritious food, and access to healthcare. It can also provide opportunities for better education, recreational activities, and community engagement, contributing to overall well-being. Hornell is one of the most affordable cities in New York, and has a cost of living that is 28% cheaper than the state average.

Lockport Population: 20,420 28% cheaper than New York average

Med. Home Value: $95,600 Med. Rent: $731 Med. Household Inc.: $46,706

With a cost of living that is 28% cheaper than New York, Lockport comes in at #10 on our list of the cheapest places to live in New York. Financial stress is a significant factor affecting mental and physical health. By lowering the cost of living, individuals can experience reduced anxiety related to meeting monthly expenses, thereby improving overall health and well-being. The ability to afford basic necessities without constant worry contributes to a more balanced and fulfilling life.

Full list of the cheapest places in New York

Rank	Location	Population	COL Index	Med. Home Value	Med. Household Inc.
1	South Lockport	8,344	80	$67,000	$48,724
2	Salamanca	5,466	80	$66,400	$33,942
3	Dunkirk	11,812	81	$67,700	$36,282
4	Olean	13,580	81	$76,700	$41,500
5	Niagara Falls	47,978	82	$78,500	$41,137
6	Tonawanda city	14,991	84	$94,600	$48,047
7	Medina	5,829	84	$81,800	$45,134
8	Jamestown	29,290	84	$66,400	$34,767
9	Hornell	8,274	84	$67,100	$43,381
10	Lockport	20,420	84	$95,600	$46,706
11	Lackawanna	17,751	85	$99,400	$39,984
12	Binghamton	44,819	85	$92,800	$35,730
13	Albion	5,615	86	$68,400	$39,718
14	Buffalo	255,805	86	$101,000	$50,303
15	Buffalo	255,805	86	$101,000	$32,108
16	Buffalo	255,805	86	$101,000	$80,316
17	Buffalo	255,805	86	$101,000	$24,229
18	Buffalo	255,805	86	$101,000	$60,893
19	Buffalo	255,805	86	$101,000	$40,789
20	Buffalo	255,805	86	$101,000	$36,236
21	Buffalo	255,805	86	$101,000	$61,144
22	Buffalo	255,805	86	$101,000	$42,032
23	Buffalo	255,805	86	$101,000	$61,585
24	Buffalo	255,805	86	$101,000	$44,136
25	Buffalo	255,805	86	$101,000	$41,622
26	Buffalo	255,805	86	$101,000	$33,976
27	Buffalo	255,805	86	$101,000	$34,538
28	Buffalo	255,805	86	$101,000	$23,868
29	Buffalo	255,805	86	$101,000	$71,004
30	Buffalo	255,805	86	$101,000	$28,679
31	Buffalo	255,805	86	$101,000	$76,898
32	Buffalo	255,805	86	$101,000	$44,263
33	Buffalo	255,805	86	$101,000	$68,309
34	Buffalo	255,805	86	$101,000	$40,531
35	Buffalo	255,805	86	$101,000	$24,532
36	Buffalo	255,805	86	$101,000	$32,854
37	Buffalo	255,805	86	$101,000	$36,770
38	Buffalo	255,805	86	$101,000	$50,160
39	Buffalo	255,805	86	$101,000	$28,346
40	Buffalo	255,805	86	$101,000	$34,202
41	Buffalo	255,805	86	$101,000	$56,623
42	Buffalo	255,805	86	$101,000	$29,420
43	Buffalo	255,805	86	$101,000	$26,270
44	Buffalo	255,805	86	$101,000	$74,251
45	Buffalo	255,805	86	$101,000	$35,846
46	Buffalo	255,805	86	$101,000	$32,992
47	Buffalo	255,805	86	$101,000	$41,923
48	Buffalo	255,805	86	$101,000	$27,957
49	Buffalo	255,805	86	$101,000	$41,665
50	Buffalo	255,805	86	$101,000	$39,029

Methodology

To formulate the list of the cheapest places to live in New York, AreaVibes utilized comprehensive data from the Council for Community and Economic Research (C2ER) cost of living index. The report is released annually and offers a detailed comparison of living expenses across various urban areas. The data is meticulously gathered by over 300 independent researchers, ensuring a high level of accuracy and reliability. The C2ER index encompasses more than 60 goods and services, categorized into six essential areas that significantly impact the cost of living. These categories and their respective weightings in the index are as follows: goods and services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%), and utilities (10%).

Map of Cost of Living by State

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The map above is a great way to help you discover the most affordable states across the U.S. By highlighting states with the lowest cost of living, this map provides an in-depth look at where you can get the most value for your money. By visually representing this data, the map allows users to easily compare different regions and make informed decisions about potential relocations or investments. Additionally, it provides valuable insights into the economic conditions and lifestyle factors that influence these cost of living statistics. Whether you're planning a move, considering a new job, or simply curious about the economic landscape, this map is a useful resource for understanding and navigating the financial implications of living in different states.