Cost of Living in Tompkins County, New York

$1,374/mo

Median Monthly Rent

$271,500

Median Home Value

21% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,374/mo

21% above state average

Median Home Value

$271,500

4% below national

Rent-to-Income Ratio

36.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Tompkins County Compares

Median monthly rent comparison

Tompkins County$1,374/mo

New York Average$1,133/mo

National Median$1,163/mo

Detailed Housing Stats

$1,374/mo

Median Gross Rent

$271,500

Median Home Value

$1,390/mo

Monthly Owner Cost

36.0%

Rent-to-Income Ratio

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.

Affordability Calculator

See how your income compares to housing costs in Tompkins County

Your Annual Household Income

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

Your rent-to-income ratio22.6%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Tompkins County, New York?

Tompkins County, New York has a median monthly rent of $1,374/mo and a median home value of $271,500. The affordability rating is Unaffordable, with rent making up approximately 36.0% of median household income.

What is the median rent in Tompkins County?

The median gross rent in Tompkins County is $1,374/mo. This is 21% above state average for New York.

Is Tompkins County affordable?

Tompkins County is rated Unaffordable based on rent-to-income ratio of 36.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Tompkins County's rent compare to the state average?

Tompkins County's median rent of $1,374/mo is 21% above state average of $1,133/mo for New York.

What is the median home value in Tompkins County?

The median home value in Tompkins County, New York is $271,500. This is 4% below the national median home value of $281,900.