The Most Affordable Neighborhoods in Elmira, NY by Home Value

These days, finding an affordable place to live in the Elmira area can be challenging. Home prices in Elmira are now at a median cost of $109,937, lower than the New York average of $610,895.

The average cost of rent is $1,040/mo in Elmira, primarily driven by the current value of real estate in the Elmira area. In Elmira, 46.20% of households rent, and 46.84% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Elmira is $4,065 per month. Households that rent pay about 25.60% of their income on rent here. Elmira’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northern 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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