How much rent can you afford in Binghamton, NY?
Run your salary against Binghamton's current rent, or find the income you'd need for a target rent. Powered by live RentDataNow medians.
The 30% rent rule, in Binghamton
At a median rent of $1,838/mo, Binghamton is stretched for most renters when measured against Binghamton median household income of $45,578/yr. Rent would consume roughly 48% of pre-tax income, and a salary of about $73,520 keeps rent at the recommended 30% threshold.
How Binghamton compares nearby
Median rent for the closest cities with data.
Frequently asked
How much rent can I afford in Binghamton?
On a $45,578 salary (the Binghamton median household income), the recommended ceiling is 30% of pre-tax income, or about $1,139/mo. Binghamton's median rent is $1,838/mo. Use the calculator on this page to run your own salary.
What salary do I need to live in Binghamton?
To keep Binghamton's $1,838/mo median rent under 30% of income, you'd need about $73,520/yr. Lower your target share (e.g. 25%) to need more, or raise it (e.g. 40%) to need less.
Is Binghamton affordable on the median New York income?
Binghamton is stretched for most renters on a $45,578 income. Rent would take 48% of pre-tax pay, outside the recommended 30% threshold.
What's the 30% rent rule?
The 30% rule is a long-standing budgeting guideline that keeps rent at or below 30% of gross (pre-tax) income. It leaves enough room for utilities, transit, savings, and debt service. In high-cost markets, many renters exceed 30%, and the Census Bureau classifies households paying more than 30% of income on rent as "cost-burdened".