Cortland, NY

Very Low · 58

New York · Population 17,465 · Updated March 2026

$893
Median Rent / Month
$55,368
Median Income
$143,800
Median Home Value
$949
Owner Costs / Month

Affordability

How far your income goes in Cortland

19.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in New York

State-level tax rates that affect your costs

10.9%
Income Tax (Top Rate)
4.0%
Sales Tax
1.62%
Property Tax Rate

Estimated Annual Costs

$10,716
Annual Rent
$6,035
State Income Tax
$2,330
Property Tax (est.)

Cost of Living Overview

Cortland is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 58 (where 100 equals the national median), Cortland residents can expect to pay median rent of $893/month while earning a median household income of $55,368/year.

The median home value in Cortland, NY is $143,800, with typical monthly owner costs around $949 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

New York's top income tax rate of 10.9% is among the highest in the nation, adding to the overall cost burden. Combined with a 4.0% sales tax rate and 1.62% effective property tax rate, the overall tax environment is a factor in the total cost of living in Cortland.

Frequently Asked Questions

Common questions about living costs in Cortland

What is the cost of living in Cortland, NY?
The cost of living index in Cortland, NY is 58 (US average = 100). Median monthly rent is $893, median household income is $55,368/year, and the median home value is $143,800.
Is Cortland, NY affordable?
Yes, Cortland is more affordable than the national average with a cost index of 58. The rent-to-income ratio is 19.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Cortland, NY?
The median gross rent in Cortland, NY is $893 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,716.
What is the median household income in Cortland?
The median household income in Cortland, NY is $55,368 per year. This compares to the national median of approximately $80,000.
What are the taxes like in New York?
New York has a top income tax rate of 10.9%, a sales tax of 4.0%, and an effective property tax rate of 1.62%.