Rents are 4% below what Ithaca's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,038 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
November. Asking rents in Ithaca usually run 0.6% below trend in November and 0.6% above it in February, about $24 a month apart at today's median. Based on 5 years of data.
Rent in Ithaca is 1.2% below its high of $2,062 in August 2026, at $2,038 as of September 2026.
Rent in Ithaca changed +2.9% over the year to September 2026. Across the 82 New York cities Zillow tracks, the typical change was +5.3%.
Rent rose in 6 of the last 12 months.
30% of the median household income ($48,784) is $1,220 a month. That is less than HUD's Fair Market Rent for a studio ($1,380).
Cortland, 18 miles away, rents for 44% less ($1,143/mo), about $10,700 a year in savings.
From Zillow's monthly rent index (ZORI) for Ithaca. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Ithaca, NY is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 67.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Ithaca, NY has changed in 5 years
The median rent in Ithaca, NY stood at $1,762 in 2022 and currently runs about $2,038, reflecting a 15.7% increase over the period. On the earnings side, the typical household in Ithaca, NY now reports about $48,784, up from $40,973 in 2021. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 3.1% since 2021, moving from about 31,819 residents to roughly 32,814. Renters now make up 70.4% of households, compared with 73.6% five years ago. For context, the 2022 to 2026 window covers an unusually volatile run for US rents nationally, and Ithaca, NY reflects that arc in its own way.
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Can you afford rent in Ithaca on your salary?
At $2,038/mo, how Ithaca rent compares to typical pay (30% rule).
Ithaca rent by bedroom count
Median rent for each apartment size in Ithaca. Click any size for full breakdown.
Tips for renters in Ithaca
Last updated: October 17, 2026
The median rent in Ithaca is $2,038/mo as of October 2026. A studio apartment averages $1,380/mo while a 2-bedroom runs $1,780/mo. One-bedroom apartments average $1,560/mo and 3-bedroom units go for $2,140/mo.
At 50% of local median household income ($48,784/yr), Ithaca ranks as moderate compared to the national benchmark of 30%. Rents have increased 2.9% over the past year.
Frequently asked questions
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How does Ithaca rent compare to other cities in New York?
At $2,038/mo, rent takes ~50% of Ithaca's median household income ($48,784/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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