10 Most Affordable Cities in New York (With Pictures)
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Ed Malaker
- Last updated:
Many people know that New York City is one of the most expensive places in America to live, which can be concerning to someone moving to the area. However, many other cities are scattered around the state that are much kinder to the wallet. Keep reading, as we provide you with a list of the most affordable cities in New York based on the average home price-to-income ratio.
The 10 Most Affordable Cities in New York
1. Dunkirk
| Average Home Price: | $67,400 |
| Median Household Income: | $40,371 |
| Price-to-Income Ratio: | 1.67 |
Dunkirk is a city on the edge of Lake Erie with plenty of great views and affordable property. The average cost of a home is less than $70,000, and the average income is more than $40,000, meaning most people won’t have trouble paying it off. It’s our pick as the most affordable city in New York.
2. Ogdensburg
| Average Home Price: | $67,938 |
| Median Household Income: | $38,822 |
| Price-to-Income Ratio: | 1.75 |
Ogdensburg is an affordable city in New York with a high median household income and a low cost of housing. It sits along the scenic St. Lawrence River on the northern border, where Native Americans lived for thousands of years. It’s a great place to live, with a population of around 10,436.
3. Olean
| Average Home Price: | $80,150 |
| Median Household Income: | $39,876 |
| Price-to-Income Ratio: | 2.01 |
Olean is the entertainment, business, transportation, and financial capital of Cattaraugus county, making it a great place to live if you enjoy having plenty to do. It’s right along the Allegheny River, so there are plenty of walking trails, recreation centers, and nature to enjoy. The homes are affordable, and the median income is high, so you can pay off a purchase quickly.
4. Gloversville
| Average Home Price: | $75,931 |
| Median Household Income: | $35,317 |
| Price-to-Income Ratio: | 2.15 |
Gloversville is in the Mohawk Valley, located in northern New York. This area once created nearly all of the gloves in the United States, which made the city quite prosperous, and you can still see many of the mansions around. The modern city is still fun to live in, with a good median income and affordable housing.
5. Fulton
| Average Home Price: | $80,865 |
| Median Household Income: | $34,856 |
| Price-to-Income Ratio: | 2.32 |
Fulton is an affordable city named after the steamboat inventor Robert Fulton. It’s split down the middle by the Oswego River, and there are plenty of great restaurants to visit and affordable homes to purchase.
6. Oswego
| Average Home Price: | $87,614 |
| Median Household Income: | $39,466 |
| Price-to-Income Ratio: | 2.22 |
Oswego is on Lake Ontario, and it’s packed with historical sites, museums, and even racetracks to visit, making it a fun spot to vacation, while its high median income and low cost of homes make it a great place to live.
7. Corning
| Average Home Price: | $112,707 |
| Median Household Income: | $48,791 |
| Price-to-Income Ratio: | 2.31 |
Corning has the first average home price on this list to exceed $100,000, but it also has the highest median household income, so it’s still one of the cheaper places to live in New York. This city sits along the Chemung River, where you will find the famous Corning Museum of Glass and plenty of restaurants, movie theaters, and other sites to see. The city gets its name from a railroad executive that helped finance the city.
8. Batavia
| Average Home Price: | $96,890 |
| Median Household Income: | $40,882 |
| Price-to-Income Ratio: | 2.37 |
Batavia is in Genesee county, New York, with a population of 15,600. It’s a great place to stroll around, take in the outdoors at one of the city’s many parks, or visit the popular casino and try to win money. However, you won’t need a big win to afford a house in this city, as the median income is more than $40,000 and the average home cost is less than $100,000.
9. Oneida
| Average Home Price: | $114,577 |
| Median Household Income: | $46,958 |
| Price-to-Income Ratio: | 2.44 |
Oneida, New York, is named after an Indigenous tribe that controlled the area when the colonists first arrived. There are miles of hiking trails to follow, and it looks especially amazing in fall when the leaves begin to change. It’s a nice place to live, with one of the highest median household incomes on this list.
10. Oneonta
| Average Home Price: | $ 153277 |
| Median Household Income: | $38,034 |
| Price-to-Income Ratio: | 4.03 |
Oneonta is a scenic area of New York and one of the most northern cities in the Appalachian region. There are plenty of old-style buildings, parks, museums, and even education centers to visit, making it a great place to live and less expensive than the homes that you will find in many other areas of the state.
Tips and Tricks to Reduce the Cost of Housing
- If you are or were in the military, you might qualify for a VA loan that can help you get a home for no money down, low mortgage payments, and flexible credit requirements.
- FHA loans can help you purchase a home with a low down payment.
- Search the area where you are looking to buy for down payment assistance programs that can help make owning a home a reality.
- Try to get the seller of the property or the lender to pay the closing costs to lower your upfront expenses.
- Consider buying a fixer-upper for a reduced price.
- Look for foreclosed homes that you can purchase at a discount.
Conclusion
Dunkirk is the least expensive city in New York to live in. The average income is more than $40,000, while the average house cost is $67,400, so many people can pay off a new property in only a few years. Ogdensburg is almost as inexpensive, followed by Olean. We like Dunkirk because of the lighthouse, but the other cities have plenty to offer too, and all are less expensive than what you will likely find in New York City.
Featured Image Credit: Brandon Jacoby, Unsplash
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