The 10 Most Affordable Places to Live in New York State

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By Michael Yessis Updated June 13, 2024
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Edited by Ashley Simon

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The 14830 zip code in Corning tops our ranking of the most affordable places to live in New York.

We looked at 513 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.  

Top 10 most affordable places to live in New York

RankCity Affordability Score Median home valueRental costs
1Corning 🥇100.0$164,734$1,500
2Endicott🥈96.2$181,091$948
3Oneonta 🥉94.3$200,774$1,337
4Cortland92.9$179,345$1,338
5Watertown90.7$184,368$1,309
6Buffalo90.2$217,959$1,306
7Rochester89.6$151,433$1,447
8Oswego89.5$164,467$1,303
9Lockport87.8$236,488$994
10North Tonawanda87.3$253,551$1,044
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1. Corning

Here's why the 14830 zip code in Corning is New York's most affordable place to live.

🔎 Key data about Corning

Data pointValueRank (out of 513 markets)Difference from median or average
Affordability Score 100.0 No. 1N/A
Median home value $164,734[1]No. 39 -$467,509
Home affordability ratio 2.2No. 9-4.8
Home value five-year change 35.2%[2]No. 20923%
Home value one-year forecast 0.2%[3]No. 312-0.1%
Rental costs $1,500[4]No. 43-$1,318
Rent affordability ratio 2.02%No. 35-1.1%
Median household income $74,314[5]No. 332-$15,158
Property taxes $4,396[6]No. 131-$2,081
Energy costs $0.11 kWh[7]No. 5-$0.09
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Corning's 14830 zip code is the cheapest place to live in New York, leading the 513 markets we evaluated. 

The median home value is $164,734, making it the 39th-cheapest housing market in the state. Forecasts project a 0.2% change in home values in the next year. Rent in the zip code averages $1,500 per month, which is the 35th cheapest amount in New York.

The median property tax for homeowners in Corning is $4,396 per household, the No. 131 ranked market in New York. 

Residents pay $0.11 per kWh of electricity, which ranks No. 5 among New York markets.

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2. Endicott

The 13760 zip code is the 2nd-cheapest place to live in New York.

🔎 Key data about Endicott

Data pointValueRank (out of 513 markets)Difference from median or average
Affordability Score 96.2No. 2N/A
Median home value $181,091[8]No. 53-$451,152
Home affordability ratio 3.0No. 39-4.1
Home value five-year change 53%[9]No. 37841%
Home value one-year forecast 1.8%[10]No. 3811.5%
Rental costs $948[11]No. 1-$1,870
Rent affordability ratio 1.56%No. 10-1.6%
Median household income $60,690[12]No. 409-$28,782
Property taxes $4,199[13]No. 112-$2,278
Energy costs $0.11 kWh[14]No. 5-$0.09
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Endicott's 13760 zip code has a median home value of $181,091, which is the 381st-cheapest housing market in New York. You can rent for an average of $948 per month. That's the 1st-cheapest price in the state.

The average household income in the zip code is $60,690, which ranks 409th-highest in the state. 

Homeowners in Endicott pay a median property tax of $4,199 per year, making it the 112th-most affordable market in New York.

Endicott ranks No. 5 among New York energy markets. You'll pay $0.11 per kWh of electricity.

3. Oneonta

The 3rd-cheapest place to live in New York is Oneonta's 13820 zip code.

🔎 Key data about Oneonta

Data pointValueRank (out of 513 markets)Difference from median or average
Affordability Score 94.3No. 3N/A
Median home value $200,774[15]No. 72-$431,469
Home affordability ratio 3.1No. 53-4.0
Home value five-year change 42%[16]No. 26429%
Home value one-year forecast 0.6%[17]No. 3410.3%
Rental costs $1,337[18]No. 22-$1,481
Rent affordability ratio 2.04%No. 37-1.1%
Median household income $65,483[19]No. 376-$23,989
Property taxes $3,396[20]No. 59-$3,081
Energy costs $0.12 kWh[21]No. 57-$0.08
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The No. 72 cheapest housing in New York is Oneonta's 13820 zip code, with a median home value of $200,774. Rents in the market average $1,337 per month, making it the 22nd-most affordable rental market in the state.

The median property tax for households in Oneonta is $3,396, which makes it the 59th-cheapest place in New York. Oneonta ranks No. 57 among New York markets by energy costs. Residents pay $0.12 per kWh of electricity.

4. Cortland

The 13045 zip code in Cortland comes in at No. 4 on our list of the cheapest places to live in New York.

🔎 Key data about Cortland

Data pointValueRank (out of 513 markets)Difference from median or average
Affordability Score 92.9No. 4N/A
Median home value $179,345[22]No. 49-$452,898
Home affordability ratio 2.8No. 28-4.3
Home value five-year change 45%[23]No. 29832%
Home value one-year forecast 0.7%[24]No. 3700.4%
Rental costs $1,338[25]No. 23-$1,481
Rent affordability ratio 2.10%No. 46-1.1%
Median household income 63762[26]No. 389-$25,710
Property taxes $4,308[27]No. 118-$2,169
Energy costs $0.12 kWh[28]No. 57-$0.08
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The No. 49 cheapest housing market in New York is Cortland's 13045 zip code, where the median home value is $179,345. Renters here pay an average of $1,338 per month. 

When it comes to energy costs, Cortland ranks 57th among New York markets. Residents pay $0.12 per kWh of electricity.

The median property tax for households in the zip code is $4,308, which makes it the 118th-cheapest market in New York.

5. Watertown

The 13601 zip code in Watertown ranks No. 5 among New York's most affordable places to live.

🔎 Key data about Watertown

Data pointValueRank (out of 513 markets)Difference from median or average
Affordability Score 90.7No. 5N/A
Median home value $184,368[29]No. 59-$447,875
Home affordability ratio 3.2No. 70-3.9
Home value five-year change 38%[30]No. 23825%
Home value one-year forecast 0.4%[31]No. 3370.1%
Rental costs $1,309[32]No. 15-$1,509
Rent affordability ratio 2.26%No. 60-0.9%
Median household income $57,936[33]No. 425-$31,536
Property taxes $2,748[34]No. 31-$3,729
Energy costs $0.13 kWh[35]No. 98-$0.06
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Watertown's 13601 zip code has a median home value of $184,368, the 59th-cheapest market in the state. Forecasts project a 0.4% change in home values in the next year. 

The median property tax per household in Watertown is $2,748. It's the 31st-cheapest market by tax rate in New York.

6. Buffalo

The No. 6 most affordable place to live in New York is the 14220 zip code.

🔎 Key data about Buffalo

Data pointValueRank (out of 513 markets)Difference from median or average
Affordability Score 90.2No. 6N/A
Median home value $217,959[36]No. 79-$414,283
Home affordability ratio 3.2No. 67-3.9
Home value five-year change 58%[37]No. 40845%
Home value one-year forecast 2.2%[38]No. 4221.9%
Rental costs $1,306[39]No. 14-$1,513
Rent affordability ratio 1.90%No. 26-1.3%
Median household income $68,813[40]No. 360-$20,659
Property taxes $1,905[41]No. 10-$4,572
Energy costs $0.13 kWh[42]No. 98-$0.06
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The back half of our top 10 kicks off with Buffalo's 14220 zip code, which has the 79th-cheapest home values in New York. The median home value is $217,959. Rents average $1,306 per month, making it the 14th-most affordable rental market in the state.

Residents pay $0.13 per kWh of electricity. It's the 98th-cheapest energy market.

7. Rochester

Rochester's 14619 zip code is the 7th-cheapest place to live in New York.

🔎 Key data about Rochester

Data pointValueRank (out of 513 markets)Difference from median or average
Affordability Score 89.6No. 7N/A
Median home value $151,433[43]No. 28-$480,810
Home affordability ratio 2.4No. 11-4.7
Home value five-year change 57%[44]No. 39845%
Home value one-year forecast 3.9%[45]No. 4973.6%
Rental costs $1,447[46]No. 33-$1,371
Rent affordability ratio 2.26%No. 61-0.9%
Median household income $63,993[47]No. 388-$25,479
Property taxes $2,745[48]No. 30-$3,732
Energy costs $0.12 kWh[49]No. 30-$0.08
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You'll find the 28th-cheapest home values in New York in Rochester's 14619 zip code. The median value: $151,433. Renters in Rochester pay an average of $1,447 per month.

Homeowners in Rochester pay a median property tax of $2,745 per year, which is New York's 30th-most affordable market.

The average household income is $63,993, which ranks 388th-highest in the state.

8. Oswego

The 8th-cheapest place to live in New York is Oswego's 13126 zip code.

🔎 Key data about Oswego

Data pointValueRank (out of 513 markets)Difference from median or average
Affordability Score 89.5No. 8N/A
Median home value $164,467[50]No. 38-$467,776
Home affordability ratio 2.7No. 24-4.3
Home value five-year change 54%[51]No. 38341%
Home value one-year forecast 3.2%[52]No. 4532.9%
Rental costs $1,303[53]No. 13-$1,516
Rent affordability ratio 2.15%No. 47-1.0%
Median household income $60,475[54]No. 410-$28,997
Property taxes $3,567[55]No. 67-$2,910
Energy costs $0.13 kWh[56]No. 89-$0.07
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The 38th-cheapest housing market in New York is Oswego's 13126 zip code, with a median home value of $164,467. Renters pay an average of $1,303 per month, the No. 13 rental market in the state.

The median property tax for households in Oswego is $3,567, which makes it the 67th-cheapest place in New York. The average household income of $60,475 ranks 410th.

9. Lockport

Lockport's 14094 zip code sneaks into the top ten of New York's most affordable places to live.

🔎 Key data about Lockport

Data pointValueRank (out of 513 markets)Difference from median or average
Affordability Score 87.8No. 9N/A
Median home value $236,488[57]No. 93-$395,755
Home affordability ratio 3.4No. 101-3.7
Home value five-year change 56%[58]No. 39544%
Home value one-year forecast 2.1%[59]No. 4071.8%
Rental costs $994[60]No. 3-$1,824
Rent affordability ratio 1.43%No. 6-1.7%
Median household income $69,489[61]No. 355-$19,983
Property taxes $4,457[62]No. 136-$2,020
Energy costs $0.12 kWh[63]No. 57-$0.08
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The 93rd-cheapest housing market in New York is Lockport's 14094 zip code, where the median home value is $236,488. Renters pay an average of $994 per month. It's the state's 3rd-cheapest rental market.

The median property tax for households within the zip code is $4,457, which makes it the 136th-cheapest property tax rate in New York. 

10. North Tonawanda

The final spot on our list of the most affordable places to live in New York goes to the 14120 zip code in North Tonawanda.

🔎 Key data about North Tonawanda

Data pointValueRank (out of 513 markets)Difference from median or average
Affordability Score 87.3No. 10N/A
Median home value $253,551[64]No. 106-$378,691
Home affordability ratio 3.3No. 79-3.8
Home value five-year change 57%[65]No. 39644%
Home value one-year forecast 2.0%[66]No. 3951.7%
Rental costs $1,044[67]No. 4-$1,774
Rent affordability ratio 1.34%No. 2-1.8%
Median household income $77,888[68]No. 313-$11,584
Property taxes $4,748[69]No. 153-$1,729
Energy costs $0.13 kWh[70]No. 98-$0.06
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The 106th-most affordable market in New York is North Tonawanda's 14120 zip code. The median home value is $253,551. Rent in the market costs $1,044 per month on average, making it the 4th-most affordable rental market in New York.

The median property tax for households in North Tonawanda is $4,748, which is the 153rd-cheapest property tax rate in the state.

North Tonawanda ranks No. 98 among New York markets by energy costs, with households paying $0.13 per kWh of electricity.

How we ranked the most affordable places in New York

We evaluated 513 zip codes in New York with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings. 

✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code.

Often the zip code we identify will represent an entire city or portion of a city. 

Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location. 

If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.

Methodology: What is an Affordability Score?

Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.

  • Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in New York, the higher our score on this component. We assign a weight of 23.8% to median home value.
  • Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
  • Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
  • Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
  • Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs. 
  • Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
  • Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
  • Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the New York average, the higher our score on this component. We assign a weight of 7.1% to property taxes. 
  • Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the New York average, the higher our score on this component. We assign a weight of 7.1% to energy costs.  

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