It Costs How Much to Live in Binghamton?
Is it expensive to live in Binghamton? Well, since just about everything has gone up in price since the pandemic, it would probably be safe to say it's expensive to live almost anywhere these days.
In addition to food and gas price increases, over the past year, I've experienced increases in my mortgage, various insurances, utility bills, seasonal campground rent, and escrow accounts. Entertainment costs and dining out has become more expensive as well.
So, in terms of numbers, just what is the average cost of living in Binghamton? I took a look at some statistics from the website Living Cost to find out. It lists the average monthly cost for one person with rent at $1491. For a family of four, the average monthly cost is $3422.
Compare that with Vestal which is listed at an average cost of living for one person at $1939. It's interesting to note that the average cost of living is higher in nearby cities from Binghamton for one person. For example, in Ithaca, it's $1991, Scranton, Pennsylvania $1991, Elmira $1917, and Syracuse comes in at an average of $1785.
Source: Cost of Living in Binghamton, NY
Living Cost ranks Binghamton New York in the top 30% of the most expensive cities in the world. The website breaks out the average cost numbers into several categories including eating out and rent & utilities.
For example, the average cost for a beer in a local bar is (at the time of the study) $4.03, and the average cost of a fast food meal for one person is $8.97.
[via Living Cost]
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