Cost of Living in McGraw, NY

With a cost of living index of 69, McGraw, NY is one of the most affordable cities in the country. Living here is 31% cheaper than the national average and 42% below the New York state average of 111. McGraw is a small community of 1,071 residents.

Housing costs are the biggest factor in McGraw's cost of living. The median monthly rent is $791 (40% below the US median of $1,319), and the median home value sits at $106,400 (65% below the national median of $304,900). At current prices, the median home costs roughly 1.8x the median household income — well within traditional affordability guidelines.

The median household income in McGraw is $58,542, which is 22% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to McGraw. The area sees an average annual temperature of 45.2°F, with summers averaging 65°F and winters around 24°F. Annual rainfall totals 41.7 inches spread over roughly 182 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.