New York is renowned as one of the most sought-after and costly states in the U.S., yet the price tag varies across its cities. Interestingly, a recent report from Redfin, identifies Syracuse as the most budget-friendly place to live in the state.
Syracuse, situated in central New York and home to approximately 148,600 people, stands out as the city with the lowest cost of living. This article delves into the reasons behind Syracuse’s affordability and highlights what the city provides for its residents.
About the Cheapest Place to Live in New York
Syracuse, a city in central New York with a population of roughly 148,600, is the most affordable location to live in New York. At $160,000, Syracuse’s typical house sale price is significantly less than the state average of $527,900.
A one-bedroom apartment’s average rent is $945, while the average sale price per square foot is $101. Although Syracuse’s median household income of $38,893 is less than the $62,843 national average, it is still sufficient to pay for necessities.
Not only is Syracuse affordable, but its citizens may enjoy a wide range of services and attractions. Over 22,000 students attend Syracuse University, a prominent private university, which is located in the city.
The Syracuse Orange basketball team and the Syracuse International Film Festival are just two of the many athletic and cultural activities held at the university.
The city also has a rich past because it used to be a significant hub for the salt business and the Erie Canal. The Erie Canal Museum, the Everson Museum of Art, and the Museum of Science and Technology are a few of the monuments and institutions that highlight the history of the city.
The E.M. Mills Rose Garden, the Rosamond Gifford Zoo, and Onondaga Lake Park are just a few of Syracuse’s parks and gardens that appeal to nature enthusiasts.
There are several budget-friendly cities in New York aside from Syracuse, where you can find homes for sale at prices below the state average. According to a Redfin report, here are some of these cities:
1. Utica: The median home sale price in Utica is $183,500, with an average rent for a one-bedroom apartment at $800. Located about 50 miles from Syracuse in central New York, Utica boasts a population of around 60,000. Known for its rich history and culture, Utica features museums, parks, and the Utica Marsh Wildlife Management Area.
2. Greece: The median home sale price in Greece is $187,500, and the average rent for a one-bedroom apartment is $1,007. This town in western New York, near Rochester, has a population of approximately 96,000, offering a suburban lifestyle with various amenities like shops, restaurants, and parks.
3. Troy: The median home sale price in Troy is $215,000, and the average rent for a one-bedroom apartment is $1,292. Situated in eastern New York, near Albany, Troy has a population of about 49,000 and is renowned for its architecture, arts, and education. The city hosts events like the Troy River Fest and the Troy Turkey Trot.
4. Hudson: The median home sale price in Hudson is $220,000, and the average rent for a one-bedroom apartment is $1,400. Located in southeastern New York along the Hudson River, Hudson has a population of around 6,000. A popular destination for tourists and artists, the city features a vibrant downtown area with galleries, cafes, and antique shops.
5. Ogdensburg: The median home sale price in Ogdensburg is $68,000, and the average rent for a one-bedroom apartment is $650. Situated in northern New York along the St. Lawrence River, Ogdensburg has a population of about 10,000.
Ranked as the second cheapest city in New York by Worldpackers, Ogdensburg offers attractions such as the Frederic Remington Art Museum and Hosmer’s Marina.
These are just a few of the affordable cities in New York worth considering if you’re seeking a place to live without breaking the bank.
Although New York is known for its high expenses, there are affordable hidden gems within the state. Syracuse emerges as a top choice for budget-friendly living, with low housing costs, a reasonable living wage, and access to cultural and outdoor attractions.
However, other contenders such as Utica, Greece, Troy, Hudson, and Ogdensburg also have unique charms and advantages. Keep in mind that the “cheapest” place ultimately depends on your individual needs and priorities.
Therefore, carefully consider your options, delve deeper into these cities, and find the New York haven that perfectly aligns with your budget and lifestyle goals.