Housing affordability · NY · 2024
Tompkins Housing Affordability
49th cheapest of 62 NY counties by price-to-income ratio · 2518th of 3,216 nationally · tier rated on the national scale
Tompkins at a glance
Tompkins shows a counter-intuitive pattern: home prices relative to income (3.9×) are below the New York state median, yet a higher-than-average share of renters face cost burden — ownership and rental markets here don't move together.
At Tompkins's median household income of $74,024, a renter paying the median monthly rent of $1,411 would commit 23% of gross annual income to housing — below the 30% threshold widely used to define cost burden.
54% of Tompkins renters spend more than 30% of their income on housing — the share of the renter population classified as cost-burdened.
For owner-occupied households, 11% spend more than 30% of their income on housing costs — below the NY rate of 19%.
Tompkins FAQ
What is the median home price in Tompkins?
The median home value in Tompkins, NY is $290,900 (2024 ACS 5-year estimate). This is 31% below the New York state median of $423,800.
Is Tompkins an affordable place to buy a home?
Tompkins is rated Moderate on the USInsights affordability scale. The price-to-income ratio is 3.9×, meaning the median home costs roughly 3.9 years of median household income ($74,024). 3.5×–5.0× indicates moderate pressure.
What is the average rent in Tompkins?
The median gross rent in Tompkins is $1,411 per month (2024 ACS 5-year estimate). 54% of renters spend more than 30% of their income on housing. The New York state median is $1,621.
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