B
8%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
33%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Cortland New York National
Cost of living92117100
Goods & Services101108100
Groceries99102100
Health care103103100
Housing67145100
Transportation108105100
Utilities105100100

An Overview of Cost of Living in Cortland, NY

The cost of living in Cortland affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Cortland is 92, which is 8% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

In Cortland, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Cortland will resemble that of an average city, contributing to a manageable cost of living.

Is Cortland Affordable?

Is Cortland an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Cortland, the median home price is 39.1% lower than what most folks pay across the country, and monthly rent prices are 19.4% lower than the usual rates. Income levels in Cortland come in at $48,859, which is 11.7% lower than the national average.

What Factors can Influence the Cost of Living in Cortland?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Cortland, the transportation index is 7.8% higher than the national average.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Cortland, the groceries index is 1% lower than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Cortland, healthcare costs are 3.2% higher than the national average.

Where is the Data From?

The Cortland cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Cortland is 22% lower than the New York average
  • The cost of living in Cortland is 8% lower than the national average
  • Cortland housing is 33% lower than the national average
  • New York general sales tax is 22% lower than the national average
  • New York state income tax is 77% higher than the national average

Most Affordable Places to Live in and Around Cortland

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Compare Cortland, NY Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$75,139$6,262$1,753$2,254
      Renters$32,938$2,745$769$988
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Cortland, NY, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Cortland homeowners, is $75,139. This would allow for a maximum of $1,753 per month to be spent on housing costs. For renters, the median monthly income is $32,938 which would result in a maximum of $769 to be spent on rental costs.

      New York Sales Tax

      State General Sales Tax With Max Surtax
      New York 4% 8.875%

      New York Income Tax

      State Income Tax (Low) Income Tax (High)
      New York 4% 10.9%

      Goods & Services

      Item Cortland National avg. Difference
      Haircut $20.03$24.2617.4%
      Beauty Salon $42.39$45.567.0%
      Toothpaste $3.62$3.702.2%
      Shampoo $1.33$1.284.1%
      Movie $13.27$12.139.4%
      Bowling $16.74$18.007.0%

      Groceries

      Item Cortland National avg. Difference
      Ground Beef $5.93$5.841.6%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.71$4.670.8%
      Potatoes $5.13$4.933.9%
      Pizza $14.83$12.0922.7%
      Beer $10.15$10.412.5%

      Health Care

      Item Cortland National avg. Difference
      Optometrist $160.58$125.6827.8%
      Doctor $115.23$135.7815.1%
      Dentist $110.48$113.292.5%
      Ibuprofen $10.49$10.651.5%
      Lipitor $530.04$468.6013.1%

      Housing

      Item Cortland National avg. Difference
      Home Price $112,500.00$184,700.0039.1%
      Avg. Mortgage Payment $2,384.28$2,346.691.6%
      Apartment Rent $765.00$949.0019.4%

      Transportation

      Item Cortland National avg. Difference
      Gasoline $3.59$3.463.8%
      Tire Balancing $69.82$59.9216.5%

      Utilities

      Item Cortland National avg. Difference
      All Electricity $166.89$193.9914.0%
      Phone $194.41$192.251.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      DeRuyter, NY4248514.7%
      Marathon, NY1,0558811.6%
      McGraw, NY1,1378911.4%
      Blodgett Mills, NY2128910.6%
      Moravia, NY1,411918.6%
      Cortland, NY18,633928.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Culpeper, VA18,63311414.2%
      Forest Park, OH18,632955.4%
      Helena, AL18,6311032.9%
      Imperial, CA18,63111919.0%
      Creve Coeur, MO18,62712928.7%
      Cortland, NY18,633928.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.