The Most Affordable Neighborhoods in Bombay, NY by Home Value

These days, finding an affordable place to live in the Bombay area can be challenging. Home prices in Bombay are now at a median cost of $95,861, lower than the New York average of $610,895.

The average cost of rent is $767/mo in Bombay, primarily driven by the current value of real estate in the Bombay area. In Bombay, 42.30% of households rent, and 67.07% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Bombay is $2,718 per month. Households that rent pay about 28.23% of their income on rent here. Bombay’s most expensive areas are in the southwestern regions, while the cheapest areas are in the central parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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