Cost of Living in Northeast Ithaca, NY

With a cost of living index of 115, Northeast Ithaca, NY is somewhat more expensive than average. Living here is 15% more expensive than the national average and 3% above the New York state average of 111. Northeast Ithaca is a small community of 2,575 residents.

Housing costs are the biggest factor in Northeast Ithaca's cost of living. The median monthly rent is $1,688 (28% above the US median of $1,319), and the median home value sits at $349,600 (15% above the national median of $304,900). At current prices, the median home costs roughly 3.8x the median household income — a moderately affordable ratio by today's standards.

The median household income in Northeast Ithaca is $91,667, which is 22% higher than the national median of $75,149. Residents spend roughly 22% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Northeast Ithaca. 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.

Everyday prices in the Ithaca, NY (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.