Ithaca, NY

Average · 103

New York · Population 31,792 · Updated March 2026

$1,441
Median Rent / Month
$48,617
Median Income
$330,100
Median Home Value
$1,472
Owner Costs / Month

Affordability

How far your income goes in Ithaca

35.6%
Rent-to-Income Ratio
Burdened
Rent takes more than 35% of median income — considered cost-burdened.

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

$17,292
Annual Rent
$5,299
State Income Tax
$5,348
Property Tax (est.)

Cost of Living Overview

Ithaca has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 103 (where 100 equals the national median), Ithaca residents can expect to pay median rent of $1,441/month while earning a median household income of $48,617/year.

The median home value in Ithaca, NY is $330,100, with typical monthly owner costs around $1,472 including mortgage, insurance, and taxes. The 35.6% rent-to-income ratio indicates significant housing cost burden. Residents spend well over a third of their income on rent alone.

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 Ithaca.

Frequently Asked Questions

Common questions about living costs in Ithaca

What is the cost of living in Ithaca, NY?
The cost of living index in Ithaca, NY is 103 (US average = 100). Median monthly rent is $1,441, median household income is $48,617/year, and the median home value is $330,100.
Is Ithaca, NY affordable?
No, Ithaca is more expensive than the national average with a cost index of 103. The rent-to-income ratio is 35.6%—above the 30%% affordability threshold.
What is the average rent in Ithaca, NY?
The median gross rent in Ithaca, NY is $1,441 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,292.
What is the median household income in Ithaca?
The median household income in Ithaca, NY is $48,617 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%.