Nov

2024

Rising Healthcare Costs Could Put a Dent in Your Paycheck

By Anneken Tappe | | Comments Off

America spends more than any other nation on healthcare . These high costs take the form of insurance premiums, high co-pays, and pricey procedures. We know that healthcare in the U.S. is already super expensive and the past few years have acclimatized us to rising prices everywhere. But as many of us encounter open enrollment right now – about 165 million Americans have employer-sponsored health insurance plans – there may be some sticker shock ahead.

The cost of healthcare benefits is expected to rise 5.8% in 2025, per a survey from consulting firm Mercer . But wages, on average, aren’t expected to keep pace. In fact, employers plan to increase merit-based pay by a mere 3.3% on average next year, according to a separate Mercer study . And you’re going to have to make up the difference.

So what? The vast majority of Americans stick with the same insurance and benefits they had last year, according to a survey by Justworks , an HR solutions firm. That could still totally make sense for you, especially if you haven’t had a major life change over the past year. Still, take this reminder to look closely at all your options – including coverage, limits, and price. If higher costs are coming your way, you’ll want to know in advance.

Photo Credit: iStock/anilakkus

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

OTM20241113SW

Nov

2024

Dear SoFi: Do I Really Need an Emergency Fund?

By Brian Walsh | | Comments Off

Building an emergency fund can be daunting. But starting small and staying with it can help.

Nov

2024

Week Ahead on Wall Street: Inflation Update

By Mario Ismailanji | | Comments Off

The Path Forward

We’re all still digesting the results of last week’s presidential election and the Federal Reserve’s interest rate cut, but markets wait for no one.

This week brings key inflation data in the form of the Consumer Price Index (CPI) and Producer Price Index (PPI) reports. The data will help provide an update on how the Fed’s fight against inflation is going, which is a big driver of interest rates: Investors will likely expect fewer rate cuts if the inflation reports come in hot, and vice versa. In particular, investors will be sure to focus on whether or not housing inflation shows any further signs of slowing down, as housing costs have been a primary contributor to the cost of living crisis.

While election results aren’t fully known yet since several House races remain too close to call at the time of writing, investors expect Republicans to gain full control of government. This has led to consensus expectations for some sort of extension to the tax cuts set to expire next year, in addition to tariffs, and the continuation of aggressive spending.

Treasury yields have moved higher, with both growth and inflation expectations rising, and stocks reached new all-time highs, pushing the S&P 500 to the cusp of 6,000 points.

One big question mark in all of this is how Fed officials will react to the election results and this week’s data. What could that mean? If the Fed is committed to getting inflation down to its 2% target, expectations for higher growth and inflation could mean fewer rate cuts than expected, which could weigh on the market.

Economic and Earnings Calendar

Monday

• Veteran’s Day. Bond markets will remain closed.

• Earnings: Live Nation Entertainment (LYV)

Tuesday

• October NFIB Small Business Optimism: This measures how small business owners feel about current and future economic conditions.

• October New York Fed Survey of Consumer Expectations: This is a measure of peoples’ expectations for inflation, jobs prospects, earnings growth, and more.

• Senior Loan Officer Opinion Survey: This is a quarterly survey of large domestic banks, as well as U.S. branches and agencies of foreign banks, on bank lending practices and loan demand.

• Fedspeak: Fed Governor Christopher Waller will speak at the Clearinghouse 2024 annual conference. Richmond Fed President Tom Barkin will speak at the Baltimore Together Summit. Philadelphia Fed President Patrick Harker will give a speech on Fintech, AI & the Changing Financial Landscape.

• Earnings: Archer-Daniels-Midland (ADM), Home Depot (HD), Mosaic (MOS), Occidental Petroleum (OXY), Skyworks Solutions (SWKS), Tyson Foods (TSN)

Wednesday

• October Consumer Price Index: The CPI is one of the most popular indicators for tracking consumer price trends and is a marquee release for market watchers. CPI has come down notably from its peak in 2022 and is near pre-pandemic levels.

• October Treasury Statement: This summarizes the U.S. federal government budget by tracking government revenues and expenditures.

• Weekly Mortgage Applications: Mortgage activity gives insight on demand conditions in the housing market.

• Fedspeak: Dallas Fed President Lorie Logan will give opening remarks at an energy conference hosted by the Federal Reserve Banks of Dallas and Kansas City. St. Louis Fed President Alberto Musalem will give a speech on the economy and monetary policy, followed by moderated discussion and Q&A. Kansas City Fed President Jeffrey Schmid will give keynote remarks at the Dallas and Kansas City Fed energy conference.

• Earnings: Cisco (CSCO)

Thursday

• October Producer Price Index: The PPI tracks price trends that producers face and is down significantly from its peak earlier in the cycle.

• Weekly Jobless Claims: This high frequency labor market data gives insight into filings for unemployment benefits. Jobless claims have continued to show a labor market that remains strong despite having cooled.

• Fedspeak: Richmond Fed President Tom Barkin will participate in a fireside chat on the economy. Fed Chair Jerome Powell will speak at an event hosted by the Dallas Regional Chamber, Dallas Fed, and World Affairs Council of Dallas/Fort Worth. New York Fed President John Williams will give a speech at a NY Fed event centered around creating and improving markets to deliver investments to under-resourced communities.

• Earnings: Applied Materials (AMAT), Disney (DIS)

Friday

• November Empire State Manufacturing Activity: The New York Fed’s survey of manufacturing executives in the region on business conditions and their outlook.

• October Retail Sales: This measures spending at retail stores and is a key indicator of consumer demand.

• October Industrial Production and Capacity Utilization: The industrial sector accounts for much of the cyclical swings in economic activity.

• Earnings: Copart (CPRT), Ross Stores (ROST)

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out

OTM2024111102

Nov

2024

Cost of Living in Ohio

By Dana Paltao | mortgage | Comments Off

Cost of Living in Ohio

You might visit Ohio to check out legendary tourist sites like the Rock and Roll Hall of Fame, the Pro Football Hall of Fame, and Cedar Point amusement park. But the state’s friendly people, scenery, and cool (but still affordable) cities like Columbus, Cleveland, and Cincinnati also can make it a great place to live.

The Buckeye State has long been known for its midwestern hospitality, affordability, and quality of life. And if you’re a sports fan, you’ll easily find a college or pro team to cheer for — whether you’re into baseball, football, basketball, hockey, soccer, or all of the above.

Read on to learn more about the cost of living in Ohio, and if it might be a good fit for you.

What’s the Average Cost of Living in Ohio?

Average Cost of Living in Ohio: $47,768 per year

If you’re looking for a midwestern state with a mid-range cost of living, Ohio may be the place for you. It ranks 22nd in the U.S. for cost of living, according to data from the Missouri Economic Research and Information Center (MERIC). That makes it pretty close in cost to neighbors Pennsylvania (25th) and Kentucky (18th); but a little more expensive than nearby Michigan (11th), Indiana (9th), and West Virginia (which has the lowest cost of living in the country).

What is the cost of living in Ohio? According to 2022 data from the Bureau of Economic Analysis , the annual average cost of living in Ohio is $47,768. Based on that number, it would cost $3,674 per month to live in the Buckeye State.

Here’s how that brekas down into major categories.

Category	Average Annual Per-Capita Cost in Ohio
Housing and Utilities	$7,412
Health Care	$8,770
Food and Beverages (non-restaurant)	$4,106
Gas and Energy Goods	$1,539
All Other Personal Expenditures	$25,941

Housing Costs in Ohio

Average Housing Costs in Ohio: $832 to $1,557 per month

Housing is one of the biggest costs you’ll encounter no matter where you live, but according to MERIC data, housing costs in Ohio are below the national average. That’s good news whether you’re buying your first home or a sweet retirement spot.

Ohio has more than 5 million housing units, according to the latest Census data. And whether you rent or buy, you still may have a shot at finding a place for less than $1,500 a month. Zillow lists the typical Ohio home value at about $231,710, compared with a U.S. national average home value of around $360,000.

Here’s what monthly housing prices can look like in Ohio, according to the latest Census data from 2023:

• Median monthly home loan cost: $1,429

• Median studio rent: $832

• Median one-bedroom rent: $820

• Median two-bedroom rent: $1,063

• Median three-bedroom rent: $1,179

• Median four-bedroom rent: $1,260

• Median five-bedroom (or more) rent: $1,282

• Median four-bedroom rent: $1,014

Of course, Ohio home prices can vary significantly depending on where you are in the state. Both the state and local nonprofits often have programs, including down payment assistance programs, to help cover some costs for those who qualify as a first-time homebuyer, so look into those if you are interested in purchasing a home in Ohio. Here are the average home values in 10 major Ohio cities, according to Zillow.

City	Typical Home Price
Columbus	$316,825
Cleveland	$264,371
Cincinnati	$289,965
Akron	$224,466
Toledo	$191,942
Cambridge	$153,226
Chillicothe	$204,754
Lima	$178,145

Utility Costs in Ohio

Average Utility Costs in Ohio: $400 per month

Once you’ve got your housing costs covered, there’s still the utility bills to consider. Costs can vary based on location and time of year, but here’s a look at what you can expect to spend monthly in Ohio.

Utility	Average Ohio Bill
Electricity	$121
Gas	$148
Cable & Internet	$120
Water	$27

Sources: U.S. Energy Information Administration, Electric Sales, Revenue, and Average Price, 2021; Inspirecleanenergy.com; DoxoInsights, U.S. Cable & Internet Market Size and Household Spending Report 2022; and Rentcafe.com, What Is the Average Water Bill?

Groceries & Food

Average Grocery & Food Costs in Ohio: $342 per person, per month

Another ongoing expense for individuals and families is buying groceries and eating out. Along with your personal food choices and family size, where you live also can affect how much you’ll spend on food.

The Bureau of Economic Analysis estimates that the average Ohioan’s non-restaurant food cost is $4,106 annually, or about $342 per month. That means a family of four can expect to spend about $1,369 on groceries each month.

The Council for Community and Economic Research , which ranks the food costs in major American cities, ranked Ohio cities from lowest to highest for their grocery costs from the first quarter of 2023 to the first quarter of 2024.

City	Grocery Items Index
Youngstown	97.0
Findlay	96.1
Toledo	99.3
Dayton	98.7
Cleveland	99.1
Lima	100.8
Cincinnati	100.8
Columbus	100.8

Transportation

Average Transportation Costs in Ohio: $9,911 to $16,605 per year

At least two Ohio cities, Columbus and Cleveland, have been named among the top cities for U.S. commuters in recent years. Still, transportation costs can be a budget-buster, depending on the current price of gas and whether you have access to public transportation.

Family size, including the number of working adults in the home, also can be a factor in how much your transportation costs will be in Ohio. The following results from MIT’s Living Wage Calculator , with data from the first quarter of 2024, can give you a general idea of what to expect when it comes to costs.

Family Makeup	Average Annual Transportation Cost
One adult, no children	$9,911
Two working adults, no children	$11,470
Two working adults, three children	$16,605

Health Care

Average Health Care Costs in Ohio: $8,770 per person, per year

Your health care needs, as well as your insurance coverage, will help determine how much you end up paying for care each year for yourself and your family. But according to the 2022 Bureau of Economic Analysis Personal Consumption Expenditures by State report, the annual cost of health care per Ohioan is $8,770.

Child Care

Average Child Care Costs in Ohio: $763 to $1,060 or more per child, per month

Having kids can have a major impact on your budget, and child care could be one of the biggest expenses you’ll have to manage. In Ohio, the price you pay for care may depend on how old your child is and whether or not you choose home-based family care.

Here are the average child care costs in Ohio, per the most recent data from CostofChildCare.org .

Type of Child Care	Average Cost Per Month, Per Child
Infant Classroom	$1,060
Toddler Classroom	$975
Preschooler Classroom	$763
Home-based Family Child Care	$1,014

Taxes

Highest Marginal Tax Rate in Ohio: 3.5%

Ohio residents get a bit of a break when it comes to state income taxes. At 3.5%, Ohio’s highest marginal state income tax rate is lower than many other states in the Midwest and in the U.S., as noted by the Tax Foundation . (If you want to live in a state that has no income tax, you may want to consider living in Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, or Wyoming.)

Miscellaneous Costs

Now that we’ve covered the essentials (food, housing, utilities, etc.), let’s turn our attention to the fun stuff.

There’s no shortage of things to do in Ohio, whether you’re into sports, music, grabbing a bite to eat, or enjoying the great outdoors. Here’s a look at how you might spend some of your discretionary funds as an Ohio resident:

• A day at one of Ohio’s 74 state parks: There is no cost for using park trails, picnic areas, and other facilities at state parks. (There are fees for camping and golfing, however.)

• Admission to the Rock and Roll Hall of Fame: Prices range from free for kids 5 and under to $35 for adults; discounts are available for Cleveland and Northeast Ohio residents, college students, and members of the military.

• Single-game ticket to a Cleveland Cavaliers NBA game: Tickets generally run from about $47 each (for nosebleed seats) to $1,000+ (on the floor).

• Cincinnati-style chili at Skyline Chili: It costs about $10 for a “Loaded Bowl.”

• A day at the Columbus Zoo: One-day tickets are $28 for kids 3-9, $33.99 for 60+, and $35 for anyone 10-59; Franklin County, Ohio, residents get a discount.

How Much Money Do You Need to Live Comfortably in Ohio?

We all have different wants and needs, so it’s hard to say exactly how much money you might require to maintain a lifestyle that’s comfortable for you in Ohio (or anywhere). But Ohio has a pretty good rep for affordability when compared to the cost of living in other states. U.S. News & World Report Affordability Rankings named Ohio as the 16th most affordable state in 2024. And remember, MERIC’s cost of living data also ranked Ohio as one of the more affordable states, at #22. So if you think Ohio sounds like a good match for you based on job opportunities, the things you like to do, and the type of home you hope to have, you may be able to live comfortably there.

Get matched with a local
real estate agent and earn up to
$9,500^‡ cash back when you close.

Pair up with a local real estate agent through HomeStory and unlock up to
$9,500 cash back at closing.^‡ Average cash back received is $1,700.

Connect with an agent

What Ohio Cities Have the Lowest Cost of Living?

These three Ohio cities all have a low cost of living, according to the Council for Community and Economic Research Cost of Living Index from the first quarter of 2023 to the first quarter of 2024. Find more bargains in a guide to the Best Affordable Places in the U.S.

Cleveland

Cleveland is probably best known for its sports teams (NFL, NBA, and MLB) and its tourist attractions. But Ohio’s second-largest city is also a major port, and several large companies are based there, including Progressive, Sherwin Williams, and American Greetings. The city has several walkable neighborhoods, amazing downtown architecture, and is the home of the well-regarded Cleveland Symphony and the Cleveland Museum of Art. And yet, Cleveland’s cost-of-living index (91.3) is relatively low compared to other metro areas. Zillow reported an average home value of $234,371 in August 2024.

Columbus

Columbus, Ohio’s capital and most populous city, also has a low cost of living index (92.8) for a city with so much to offer. It’s the home of Ohio State University, one of the largest universities by enrollment in the U.S. There’s also a lively business district and, thanks to its younger demographic, plenty to do for fun — from taking in the vibrant bar and restaurant scene in the Short North Arts District to visiting the many parks and gardens throughout the city and its surrounding area. As noted above, Zillow reported an average home value of $316,825 in August 2024.

Findlay

The city of Findlay, which is about 40 miles south of Toledo, is much smaller than Cleveland or Columbus, and it’s in a more rural part of the state. Still, in many ways, it’s more metro-y than smalltown. Findlay has built a reputation as a fun weekend getaway for Ohioans looking for good food, fun shops, and diverse cultural offerings. And housing options range from urban rentals to family-oriented neighborhoods. It’s also the headquarters of Marathon Petroleum, a Fortune 100 company. Findlay has the same low cost of living index as Columbus (92.8). Zillow reported an average home value of $231,719.

Recommended: The Different Types of Mortgage Loans

Helpful Resources for Future Ohio Residents

Ohio First-Time Home Buyer Guide

Ohio Foreclosure Rate

Ohio Student Loan & Scholarship Information

SoFi Home Loans

Though it’s known for its midwestern friendliness, Ohio is still fairly accessible to the big cities of the east, thanks to its proximity to New York and Washington, D.C., and its own bustling city centers are rich with cultural, sporting, and educational opportunities. From cities to suburbs to wide-open rural spaces, there’s something there for every potential homeowner. And life in Ohio is more affordable than in many other parts of the country.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

SoFi Mortgages: simple, smart, and so affordable.

View your rate

FAQ

Is Ohio an expensive place to live?

Ohio has a reputation for affordability. The 2024 U.S. News & World Report Affordability Rankings named Ohio as the 16th most affordable state.

What is the average housing cost in Ohio?

The median gross rent in Ohio was $1,014 per month, according to Census data from 2023. The median monthly mortgage cost was $1,429.

What is the cheapest area to live in Ohio?

The small city of Ashland, which is situated between Cleveland to the north and Columbus to the south, is one of the cheapest places to live in Ohio, based on data from the Council for Community and Economic Research Cost of Living Index for the first quarter of 2024. Among Ohio’s largest cities, Cleveland has the lowest cost of living.

Photo credit: iStock/SethCortright

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

‡Up to $9,500 cash back: HomeStory Rewards is offered by HomeStory Real Estate Services, a licensed real estate broker. HomeStory Real Estate Services is not affiliated with SoFi Bank, N.A. (SoFi). SoFi is not responsible for the program provided by HomeStory Real Estate Services. Obtaining a mortgage from SoFi is optional and not required to participate in the program offered by HomeStory Real Estate Services. The borrower may arrange for financing with any lender. Rebate amount based on home sale price, see table for details.

Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.

HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.

SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.

If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.

Reward is valid for 18 months from date of enrollment. After 18 months, you must re-enroll to be eligible for a reward.

SoFi loans subject to credit approval. Offer subject to change or cancellation without notice.

The trademarks, logos and names of other companies, products and services are the property of their respective owners.

SOHL-Q324-110

Nov

2024

Cost of Living in New York

By Dana Paltao | mortgage | Comments Off

Cost of Living in New York

If you move to the state of New York, you could entertain your visitors with these fun facts and more. But before you pack your bags for the Empire State, understand that New York’s cost of living is among the highest in the country. From rent to transportation to childcare, here’s a closer look at how much it costs to live in New York.

What’s the Average Cost of Living in New York?

If you’re in a New York State of mind, you may need an average monthly budget of $4,881 to get by. New York is the fourth most expensive state in the U.S. after Hawaii, California, and Massachusetts, according to 2022 data from MERIC (the Missouri Economic Research and Information Center). MERIC compiles data on the national average cost of living in the U.S., which forms a baseline of 100. New York state’s cost-of-living index is 123.5 — 23.5 points above the national average.

There’s no getting around it: The average monthly expenses for one person are high, and if you have a family, the costs climb. The Bureau of Economic Analysis puts the average cost of living in New York at $58,571 per year. New York City is one of the most expensive cities in the country, while more rural areas of New York State have a lower cost of living.

Here’s what you can expect to pay in New York State in major spending categories.

Category	Average Annual Per-Capita Cost in New York
Housing and Utilities	$10,666
Health Care	$10,124
Food and Beverages (non-restaurant)	$4,119
Gas and Energy Goods	$942
All Other Personal Expenditures	$32,720

Housing Costs in New York

Average Housing Costs in New York: $1,008 to $1,864 per month

New York has over 8.6 million housing units, according to the latest U.S. Census data. The typical home value in New York is $478,973, Zillow reports, more than $100,000 above the U.S. average home value of $359,852. (If you are looking for a home loan in New York, remember to check into whether you qualify as a first-time homebuyer, as there are special programs for those who are buying a first home or who haven’t owned a primary residence in the last three years.)

If you’re a renter, here’s what to expect in monthly average costs:

• Studio: $1,444

• 1 bedroom: $1,419

• 2 bedrooms: $1,502

• 3 bedrooms: $1,673

• 4 bedrooms: $1,845

• 5 or more bedrooms: $1,749

• Median gross rent: $1,499

For those looking to buy a home, understand that there’s a lot of variation in house prices across the state of New York. You’d end up spending a lot more to live in the Big Apple than you would in a small town upstate — New York City is never going to wind up on anyone’s list of the best affordable places in the U.S. In fact, many buyers in New York City need a jumbo loan.

The good news: For qualified homebuyers, down payment assistance programs are available to help defray some of the cost associated with a home purchase.

Here are some typical home values in cities throughout New York State.

City in New York	Typical Home Value
New York, New York	$668,361
Kingston, NY	$415,820
Ithaca, NY	$338,675
Albany, NY	$336,050
Glens Falls, NY	$293,718
Buffalo, NY	$266,993
Rochester, NY	$258,398
Syracuse, NY	$236,063
Watertown, NY	$213,435
Plattsburgh, NY	$213,207
Auburn, NY	$213,202
Utica, NY	$207,326
Binghamton, NY	$183,041
Jamestown, NY	$167,776
Corning, NY	$165,176
Elmira, NY	$155,250
Olean, NY	$151,871
Ogdensburg, NY	$139,474

Utility Costs in New York

Average Utility Costs in New York: $410 per month

Along with your mortgage or rent payments, you’ll also have to factor the cost of utilities into your monthly budget. Here’s how the average utility bills break down in New York by major category.

Category	Average Monthly Cost in New York
Electricity	$131
Gas	$96
Cable & Internet	$150
Water	$33