Americans love New York! And why wouldn’t you? The state is the second-best place to live in the country. Also, the Empire State scores 96 out of 100 in quality of life.
Financial services, retail trade, and manufacturing are among the driving factors of the state’s economy.
The median home price in New York is $764,000. The cost of living is 30% more than the national average. This makes it a great place to live for people with high incomes. Let’s explore the best places to live in New York.
3 Reasons to Live in New York 🗽
- Excellent Job Opportunities: New York has the 3rd largest GDP in the country. The state is also home to 47 Fortune 500 companies. The state added 424,300 jobs in the past year.
- Quality Education: New York is home to some of the most prestigious schools in the country. These include New York University and Cornell University, NY, which provide top-quality educational opportunities.
- Vibrant Culture: New York offers an exotic lifestyle. Apart from that, the Empire State is famous for its historical culture and art.
Best Places to Live in New York in 2024
| # | City | Population | Median Home Price | Monthly Expenses | Unemployment Rate | Community Well-Being Score |
|---|---|---|---|---|---|---|
| 1. | Syracuse | 144,451 | $168,000 | $7,784 | 3.2% | 58/100 |
| 2. | Rochester | 209,352 | $160,000 | $8,020 | 3.2% | 59/100 |
| 3. | New York City | 8,335,897 | $770,000 | $11,245 | 4.7% | 74/100 |
| 4. | Albany | 100,826 | $253,000 | $8,750 | 2.9% | 61/100 |
| 5. | Buffalo | 276,486 | $201,000 | $7,647 | 3.4% | 60/100 |
| 6. | Binghamton | 47,115 | $159,000 | $7,778 | 3.3% | 51/100 |
| 7. | Ithaca | 32,870 | $394,000 | $9,180 | 2.8% | 57/100 |
1. Syracuse: Best place for Working Professionals
| Home Value | ⬆️ 11.7% |
| Median Household Income | $40,490 |
| Monthly Expenses | $7,784 |
| Unemployment Rate | 3.2% |
| Community Well-Being Score | 58/100 |
The median home price in Syracuse is $168,000, significantly less than the national average of $412,020. Food and grocery expenses are 22.5% lower than the national average. The education and healthcare sectors are major contributors to Syracuse’s economy.
Syracuse offers a snowy climate and receives 120 inches of snow annually. The major upside to the city is its affordability and livability, which make it one of the most desirable places in New York to live.
» Homes For Sale in Syracuse, NY: Find your home in this snowy city.
2. Rochester: Best Place to Live in New York State for Families
| Home Value | $160,000 |
| Median Household Income | $40,083 |
| Monthly Expenses | $8,020 |
| Unemployment Rate | 3.2% |
| Community Well-Being Score | 59/100 |
Rochester is one of the most affordable cities in New York to live in. The cost of living is 24% lower than the state average. The median price of a home in Rochester is $160,000.
The Flower City boasts a friendly and tight-knit community of people. The city rests alongside Lake Ontario and offers scenic views of the lake. In addition, Rochester presents top-notch educational opportunities through various public schools and the University of Rochester.
» Homes For Sale in Rochester, NY: View thousands of properties in Rochester.
3. New York City: Best Place for High-Income Individuals
| Home Value | ⬇️ 2.5% |
| Median Household Income | $70,663 |
| Monthly Expenses | $11,245 |
| Unemployment Rate | 4.7% |
| Community Well-Being Score | 74/100 |
Being one of the most desirable places to live, NYC is expensive. The median home price in New York City is $770,000. The cost of living in NYC is 37% higher than the state average.
Being the most populous city in New York State, NYC offers a lively and vibrant entertainment culture. Often regarded as the “city that never sleeps,” it is ideal for people looking to push their careers to new limits.
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4. Albany: Top City in New York for Job Seekers
| Home Value | ⬆️ 7.1% |
| Median Household Income | $52,583 |
| Monthly Expenses | $8,750 |
| Unemployment Rate | 2.9% |
| Community Well-Being Score | 61/100 |
Albany, being the capital of New York, has an archaic feel to it. The city is home to the headquarters of multiple tech companies, such as CommerceHub and GCOM, that provide ample job opportunities. Moreover, Albany provides many central and state government job opportunities as well.
A median home in Albany costs $245,000, significantly lower than the national average of $412,020. The utilities in Albany cost 5% less than the national average.
» Homes For Sale in Albany, NY: View thousands of properties in the capital city.
5. Buffalo: Best Place for Young Adults
| Home Value | ⬆️ 7.5% |
| Median Household Income | $42,186 |
| Monthly Expenses | $7,647 |
| Unemployment Rate | 3.4% |
| Community Well-Being Score | 60/100 |
Buffalo’s economy is rising, and the medical and manufacturing sectors continue to grow. These sectors added 53,000 and 54,000 jobs, respectively, in the past year. Moreover, the cost of living in Buffalo is decent, 5% lower than the national average.
Once a transport hub between the East and the Midwest, Buffalo reflects a mix of Eastern and Western cultures. The City of Light is home to the most avid NFL fans and is easily among the best places to live in New York.
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6. Binghamton: Best city in NY to live on a Budget
| Home Value | $159,000 |
| Median Household Income | $39,012 |
| Monthly Expenses | $7,778 |
| Unemployment Rate | 3.3% |
| Community Well-Being Score | 51/100 |
Binghamton checks all the boxes when it comes to affordability and quality of life. The city is home to Binghamton University, which offers various undergrad, post-grad, and doctorate degrees.
The median home price in Binghamton is around $158,000. Food and healthcare costs are 25.2% and 24.6% lower than the national average, respectively.
» Homes For Sale in Binghamton, NY: Browse through thousands of properties in your budget.
7. Ithaca: Best Place to Live for College Education
| Home Value | ⬆️ 7.7% |
| Median Household Income | $40,973 |
| Monthly Expenses | $9,180 |
| Unemployment Rate | 2.8% |
| Community Well-Being Score | 57/100 |
Ithaca rests on the southern banks of Cayuga Lake. Home to Ivy League Cornell University, the college town is full of students and carries a youthful vibe. Moreover, the city also offers amazing hiking trails for quick getaways.
A median home in Ithaca costs around $394,000. The cost of living in Ithaca is fairly affordable, being just 1% higher than the national average. Moreover, food and grocery expenses cost 12% less than the state average.
» Homes For Sale in Ithaca, NY: Browse through thousands of properties in this college-town
Bottom Line
New York is one of the best places to live in the US as the state provides ample career opportunities in all sectors. It has the most happening nightlife across the country and has something for everybody.
The Empire State is home to some of the best educational institutes in the country such as New York University and Ivy League Cornell University. The median housing price in New York is $405,000, which is almost the same as the national average.
However, the cost of living in New York can be a little heavy on the pocket of an average person. It’s advisable to do your own research before you move to New York.
» Free Home Value Estimator: Get an estimate of property values with New York’s most accurate home value estimator.
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Frequently Asked Questions
What are the best places to live in upstate New York?
Where is the cheapest place to live in New York State?
Binghamton is among the most affordable places in New York. The average price of a home is just $158,000. Moreover, food and healthcare are relatively cheaper.
What is the richest neighborhood in New York State?
Hudson Yards, a neighborhood of New York City is among the richest neighborhoods in the New York State.
Which city is the safest in New York?
Harrison, with a crime rate 5.18 times lower than the national average, is one of the safest cities in the US to live in.
What is the nicest but cheapest place to live in New York?
With a cost of living 24% below the state average, Rochester is the cheapest place to live in New York.
