A+
8%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
27%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Corning New York National
Cost of living92117100
Goods & Services102108100
Groceries98102100
Health care99103100
Housing73145100
Transportation108105100
Utilities92100100

An Overview of Cost of Living in Corning, NY

Understanding the cost of living in Corning can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Corning cost of living index is 92, which is 8% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Everyday expenditures like food, housing, goods and services, transportation and health care in Corning are priced in a manner consistent with other areas. This means that residents of Corning can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Corning Affordable?

Is Corning affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Corning, for instance, where the median home price falls 35.9% lower than the national average, and monthly rent rates are 6.6% lower than usual. Additionally, median income levels contribute to the equation, with Corning flaunting a median household income of $51,160, 7.5% lower than the national norm.

What Factors can Influence the Cost of Living in Corning?

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Corning, the housing index stands at 27.1% lower than the national average.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Corning, the utilities index registers at 8.1% lower than the national average.

Where is the Data From?

The cost of living data in Corning displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Corning is 21% lower than the New York average
  • The cost of living in Corning is 8% lower than the national average
  • Corning housing is 27% lower than the national average
  • New York general sales tax is 22% lower than the national average
  • New York state income tax is 54% higher than the national average

Most Affordable Places to Live in and Around Corning

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Compare Corning, NY Cost of Living

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      Salary Calculator

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$80,235$6,686$1,872$2,407
      Renters$31,290$2,608$730$939
      A good way to judge both the affordability of the housing and the cost of living in Corning is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Corning has a median income of about $80,235 for people who own homes. Based on that number, a maximum of $1,872 should be spent on expenses related to housing. Renters have a slightly different median income, which is $31,290. Based on this average, renters should spend no more than $730 on all rental costs if they want to maintain a non-impoverished standard of living.

      New York Sales Tax

      State General Sales Tax With Max Surtax
      New York 4% 8.875%

      New York Income Tax

      State Income Tax (Low) Income Tax (High)
      New York 4% 10.9%

      Goods & Services

      Item Corning National avg. Difference
      Haircut $26.78$24.2610.4%
      Beauty Salon $44.58$45.562.2%
      Toothpaste $3.72$3.700.4%
      Shampoo $1.70$1.2832.6%
      Movie $15.90$12.1331.0%
      Bowling $24.25$18.0034.7%

      Groceries

      Item Corning National avg. Difference
      Ground Beef $6.04$5.843.5%
      Fried Chicken $1.55$1.571.4%
      Milk $5.16$4.6710.5%
      Potatoes $5.21$4.935.7%
      Pizza $13.16$12.098.9%
      Beer $11.98$10.4115.1%

      Health Care

      Item Corning National avg. Difference
      Optometrist $124.25$125.681.1%
      Doctor $154.18$135.7813.6%
      Dentist $124.68$113.2910.1%
      Ibuprofen $11.17$10.654.8%
      Lipitor $398.58$468.6014.9%

      Housing

      Item Corning National avg. Difference
      Home Price $118,400.00$184,700.0035.9%
      Avg. Mortgage Payment $5,235.60$2,346.69123.1%
      Apartment Rent $886.00$949.006.6%

      Transportation

      Item Corning National avg. Difference
      Gasoline $3.58$3.463.6%
      Tire Balancing $59.33$59.921.0%

      Utilities

      Item Corning National avg. Difference
      All Electricity $196.28$193.991.2%
      Phone $200.67$192.254.4%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Campbell, NY6728317.3%
      Addison, NY1,8798415.7%
      Coopers Plains, NY5158515.1%
      Elmira, NY27,2368712.8%
      Bath, NY5,4938613.8%
      Corning, NY10,642927.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Timonium, MD10,64213030.4%
      Lansdowne, PA10,6371011.1%
      Forestville, OH10,6481099.1%
      Millington, TN10,6508811.9%
      New Port Richey East, FL10,6519010.2%
      Corning, NY10,642927.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.