Median Home PriceBETTER
$187,105.85
Median RentBETTER
$1,420.75/mo
Price-to-Rent RatioBETTER
11.0
Property Tax RateTIE
1.72%
Price Change (1Y)BETTER
+3.1%
Price Change (5Y)BETTER
+15.3%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$14,958
Median Home Price
$1,182,635.83
Median Rent
$4,367.24/mo
Price-to-Rent Ratio
22.6
Property Tax RateTIE
1.72%
Price Change (1Y)
+1.4%
Price Change (5Y)
+7.2%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$967,229
Key Differences
Home Prices
Binghamton's median home price of $187,105.85 is lower than New York's $1,182,635.83 by 84%.
Monthly Rent
Renting in Binghamton costs $1,420.75/mo compared to $4,367.24/mo in New York—a difference of $2,946.49/mo.
Buy vs Rent Verdict
Binghamton favors either option, while New York favors renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.