Shocking: Average Salary in New York State Compared to Cost of Living
This article was originally posted on HudsonValleyPost.com
Sadly for Empire State residents “the math is not mathing” when it comes to salary and living in New York.
“The math is not mathing” is an expression used when something just doesn’t add up. That’s the case when comparing the cost of living to the average salary in New York.
Cost Of Living In New York State
New York is one of the most expensive states in America to live in. I’m sure that’s not a surprise to Empire State residents.
A number of publications rank cost of living. Below is where New York State ranks.
- 48th, according to Motto Mortage
- 44th, according to US News And World Report
- 45th, according to World Population Review
- 44th according to Doxo
When it comes to “affordability,” USA Today says New York State is the worst state in America.
Average Salary In New York State
The average full-time salary in New York State is $51,979, according to findings from ZipRecruiter.
That’s about $24.99 per hour, $999 a week, or $4,331 monthly.
Most salaries in New York range from $36,403 to $64,402.
Despite being one of the most expensive states to live in, New York ranks 38th in terms of average salary, according to ZipRecruiter.
As I said above, “the math isn’t mathing!”
Top 10 Cheapest Places to Live in New York State
New York is one of the most expensive states to call home, but there are some areas that are gentle on the wallet. According to HomeSnacks, they deduced the top 10 most affordable cities and towns in the Empire State.
They looked into data from the U.S. Census, median home and rent prices, as well as median income of a particular area’s residents. Affordability was also determined based on availability and access to services and conveniences.
Below are the top 10 places that let residents keep more cash in their wallets.
No. 10 – Elmira
Population: 26,494
Overall Cost Of Living Index: 85
Median Income: $41,073
Median Home Price: $113,359
Median Rent: $823
Said HomeSnacks, “ocated in Southern New York as the county seat of Chemung County, Elmira shines with an affordable 2.76 home price to income ratio and a $823 ranking at 2lowest state-wide.”
No. 9 – Albion
Population: 5,428
Overall Cost Of Living Index: 84
Median Income: $41,985
Median Home Price: $89,529
Median Rent: $819
Albion’s rent costs are among the lowest in the state.
No. 8 – Lackawanna
Population: 19,762
Overall Cost Of Living Index: 84
Median Income: $46,869
Median Home Price: $138,652
Median Rent: $809
A suburb in Buffalo, the 2nd most affordable city in NY.
No. 7 – Jamestown
Population: 28,679
Overall Cost Of Living Index: 83
Median Income: $39,507
Median Home Price: $110,473
Median Rent: $703
Said HomeSnacks, “An hour plus south of Buffalo, Jamestown is close to Panama Rocks Scenic Park for affordable weekend fun.”
No. 6 – Olean
Population: 13,890
Overall Cost Of Living Index: 82
Median Income: $45,078
Median Home Price: $103,194
Median Rent: $761
Olean’s school district is among the best in the state in addition to offering plenty of job opportunities and low cost of renting or owning a home.
No. 5 – Medina
Population: 5,827
Overall Cost Of Living Index: 81
Median Income: $56,782
Median Home Price: $153,223
Median Rent: $854
Located alongside the Erie Canal offers a strong economy due to its agriculture and sandstone exports.
No. 4 – Dunkirk
Population: 12,668
Overall Cost Of Living Index: 81
Median Income: $46,800
Median Home Price: $118,045
Median Rent: $826
This Western, NY, city offers inexpensive options to have fun by the water.
No. 3 – Salamanca
Population: 5,906
Overall Cost Of Living Index: 80
Median Income: $38,472
Median Home Price: $90,236
Median Rent: $706
Salamanca is located within the Allegany Indian Reservation. Said HomeSnacks, “Salamanca’s position near the Allegheny River and Allegany State Park gives you plenty of cheap things to do on the weekend.”
No. 2 – Buffalo
Population: 276,688
Overall Cost Of Living Index: 80
Median Income: $46,184
Median Home Price: $215,169
Median Rent: $942
Buffalo earned a second-place ranking due to the accessibility of entertainment venues and outdoor opportunities.
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No. 1 – Niagara Falls
Population: 48,502
Overall Cost Of Living Index: 79
Median Income: $45,932
Median Home Price: $148,929
Median Rent: $763
Niagara Falls also offers plenty of outdoor activities and sightseeing opportunities, in addition to having a great public transportation.