Cost of Living in Tompkins County, New York
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Tompkins County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Tompkins County ranks #2,663 of 3,144 counties for affordability (bottom 15%)
Data Story
About Cost of Living in Tompkins County, New York
Tompkins: College towns inflate rents
Tompkins County's rent-to-income ratio of 22.6% is the highest in our comparison and well above the national average, driven by the Ithaca college market. With median household income of $73,012 and median rent of $1,374, this county reflects the premium pricing created by institutional demand.
New York's priciest county (in our group)
Tompkins County ranks as the most unaffordable by rent-to-income ratio in our dataset at 22.6%, far exceeding New York's statewide 17.6% average. The $1,374 median rent costs $241 more than the state typical, reflecting Ithaca's unique role as a college hub commanding premium pricing.
Significantly pricier than surrounding upstate
Tompkins County's $1,374 rent substantially exceeds all regional upstate peers—Seneca ($925), Steuben ($878), and Tioga ($914)—by 50–55%. Its 22.6% rent-to-income ratio stands alone among the upstate cluster, driven by Cornell and Ithaca College's economic dominance.
College economy drives housing premium
Renters pay $1,374 monthly while homeowners spend $1,390—unusually aligned, suggesting limited rental/ownership gap despite premium rents. With median household income of $73,012, residents dedicate 22.6% of earnings to rent, an unsustainable burden compared to regional peers.
Tompkins suits high-income professionals
Tompkins County's Ithaca-area premium appeals primarily to faculty, professionals, and affluent families; median renters face a 22.6% housing burden unsustainable long-term. If you're relocating, nearby Tioga (15.3% ratio) offers comparable Finger Lakes charm with $460 cheaper monthly rent and half the affordability stress.
Cost of Living Advisory: Tompkins County
Affordability Verdict
Tompkins County offers affordable rental housing at a median of $1,374/month — about 22.6% of the typical household income here.
Rent vs. Own
The median rent in Tompkins County is $1,374/month, while owner costs run $1,390/month. Renting saves approximately $16/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $54,960/year. For owner costs at the 28% rule, the required income is roughly $59,571/year. With a median household income of $73,012, most households can comfortably afford rent here. Notably, 36.0% of renter households in Tompkins County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Tompkins County sits 4% less expensive than Bronx County ($1,436/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Tompkins County
Rent Burden
22.6%
of gross income
Max Housing (28% Rule)
$1,704
per month
Owner Cost Burden
22.8%
of gross income
The median home in Tompkins County may be a stretch
Median home value is $271,500. Estimated monthly cost: $2,167 vs. your max of $1,704.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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