Cost of Living in Trumansburg, NY

With a cost of living index of 86, Trumansburg, NY is a very affordable place to live. Living here is 14% cheaper than the national average and 25% below the New York state average of 111. Trumansburg is a small community of 1,552 residents.

Housing costs are the biggest factor in Trumansburg's cost of living. The median monthly rent is $951 (28% below the US median of $1,319), and the median home value sits at $271,300 (11% below 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 Trumansburg is $71,316, which is 5% 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.

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.