Housing affordability · NY · 2024
Schenectady Housing Affordability
40th most affordable of 62 New York counties · price-to-income ratio
Schenectady at a glance
Schenectady shows a counter-intuitive pattern: home prices relative to income (3.0×) are below the New York state median, yet a higher-than-average share of renters face cost burden — typically reflecting a concentration of lower-income households in the local rental market.
At Schenectady's median household income of $79,623, a renter paying the median monthly rent of $1,194 would commit 18% of gross annual income to housing — below the 30% threshold widely used to define cost burden.
For owner-occupied households, 15% spend more than 30% of their income on housing costs — the standard definition of owner cost burden.
Schenectady FAQ
What is the median home price in Schenectady?
The median home value in Schenectady, NY is $235,700 (2024 ACS 5-year estimate). This is 44% below the New York state median of $423,800.
Is Schenectady an affordable place to buy a home?
Schenectady is rated Affordable on the USInsights affordability scale. The price-to-income ratio is 3.0×, meaning the median home costs roughly 3.0 years of median household income ($79,623). Under 3.5× is generally considered affordable.
What is the average rent in Schenectady?
The median gross rent in Schenectady is $1,194 per month (2024 ACS 5-year estimate). 51% of renters spend more than 30% of their income on housing. The New York state median is $1,621.
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