A+
13%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
48%
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 Elmira New York National
Cost of living87117100
Goods & Services101108100
Groceries99102100
Health care103103100
Housing52145100
Transportation108105100
Utilities105100100

An Overview of Cost of Living in Elmira, NY

Are you thinking about relocating, but curious about the potential cost of living in Elmira? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Elmira stands at 87, making it 13% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Housing expenses can absorb a substantial portion of your net income, sometimes exceeding 30%. Thankfully, Elmira stands out by reporting housing costs that are 48.1% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more budget-friendly compared to the rest of the country. With such favorable housing affordability, residents of Elmira can allocate a more reasonable portion of their income to housing, allowing for greater financial flexibility.

Is Elmira Affordable?

Is Elmira affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Elmira, the median home price is 58.7% lower than the national average and monthly rent prices are 23.4% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Elmira boasting a median household income of $36,543, 33.9% lower than the national average.

What Factors can Influence the Cost of Living in Elmira?

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Elmira, the healthcare costs are 3.2% higher than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Elmira, the groceries index registers 1% lower than the national average.

Where is the Data From?

The cost of living in Elmira, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Elmira is 25% lower than the New York average
  • The cost of living in Elmira is 13% lower than the national average
  • Elmira housing is 48% 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 Elmira

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Compare Elmira, 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$61,881$5,157$1,444$1,857
      Renters$24,275$2,023$566$728
      A good indicator of the general affordability of housing in Elmira, NY, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Elmira, the median monthly income is $61,881 for those who own their own homes. Under the standard rule, that income level would allow for $1,444 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $24,275, per the median income in the area. That would allow for renters to spend up to $566 on monthly rental expenses.

      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 Elmira 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 Elmira 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 Elmira 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 Elmira National avg. Difference
      Home Price $76,200.00$184,700.0058.7%
      Avg. Mortgage Payment $2,384.28$2,346.691.6%
      Apartment Rent $727.00$949.0023.4%

      Transportation

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

      Utilities

      Item Elmira 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.
      Erin, NY4418019.7%
      Breesport, NY8738811.9%
      Millport, NY4428811.7%
      Elmira Heights, NY4,2068911.4%
      Southport, NY6,8218812.0%
      Elmira, NY27,2368712.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Horn Lake, MS27,2348811.6%
      Mint Hill, NC27,25811111.3%
      Dieppe, NB27,260n/a 
      New Smyrna Beach, FL27,20711111.4%
      Lake Jackson, TX27,2691043.6%
      Elmira, NY27,2368712.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.