Quick facts: Hamilton, NY

Quick Facts

113.7
Cost of Living
above US average
6,690
Population
0.75
Crime Rate per 1000
below US average
$58,000
Median Income
below US average
$375,000
Median House Price
above US average
$2943
Average Rent
above US average
Poverty rate Data is updating, will be available soon
0.03%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $58,000.

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Income Needed to Buy

βœ— Stretch
$118k/year
Based on $375,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $118k vs median $58,000
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Income Needed to Rent

⚠ Stretch
$126k/year
Based on $2943/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $126k vs median $58,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hamilton, NY

Hamilton, New York, is a charming village nestled in Madison County, known for its scenic beauty and vibrant community atmosphere. Home to approximately 3,500 residents, Hamilton is situated near the picturesque Chenango River, offering plenty of outdoor recreational activities, including hiking, fishing, and exploring nature trails. The village is perhaps best known as the home of Colgate University, a prestigious liberal arts institution that significantly contributes to the cultural and educational landscape of the area. The presence of Colgate brings a youthful energy to the town, with various events, galleries, and performances enriching the local arts scene. Hamilton's downtown area features a blend of quaint shops, restaurants, and cafΓ©s, creating a welcoming environment for both residents and visitors. The local economy thrives on education, tourism, and agriculture, with numerous farms in the surrounding area contributing to the community's rural character. Overall, Hamilton offers a unique blend of academic vibrancy and small-town charm, making it an attractive place to live, work, and study. Its welcoming atmosphere and rich cultural opportunities make it a hidden gem in upstate New York.

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