Cost of Living in Edwards, NY

With a cost of living index of 66, Edwards, NY is one of the most affordable cities in the country. Living here is 34% cheaper than the national average and 45% below the New York state average of 111. Edwards is a small community of 564 residents.

Housing costs are the biggest factor in Edwards's cost of living. The median monthly rent is $800 (39% below the US median of $1,319), and the median home value sits at $71,900 (76% below the national median of $304,900). At current prices, the median home costs roughly 1x the median household income — well within traditional affordability guidelines.

The median household income in Edwards is $75,547, which is 1% higher than the national median of $75,149. Residents spend roughly 13% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Edwards. The area sees an average annual temperature of 44.6°F, with summers averaging 67°F and winters around 20°F. Annual rainfall totals 38.2 inches spread over roughly 147 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.