Cost of Living in Hannawa Falls, NY

With a cost of living index of 85, Hannawa Falls, NY is a very affordable place to live. Living here is 15% cheaper than the national average and 27% below the New York state average of 111. Hannawa Falls is a small community of 847 residents.

Housing costs are the biggest factor in Hannawa Falls's cost of living. The median monthly rent is $1,106 (16% below the US median of $1,319), and the median home value sits at $181,800 (40% below the national median of $304,900). At current prices, the median home costs roughly 1.9x the median household income — well within traditional affordability guidelines.

The median household income in Hannawa Falls is $95,893, which is 28% higher than the national median of $75,149. Residents spend roughly 14% 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 Hannawa Falls. 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.