Cost of Living in Herkimer, NY
Housing
The housing market plays a significant role in determining the cost of living in Herkimer, NY.
- Housing Index: 110.0 / 100
- Median Home Price is: $145,000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1225 per month
In Herkimer, NY, the housing index of 110.0 signals a higher-than-average cost of living. With a median home price of 145000, purchasing property here could be more accessible for those seeking home ownership. Renting, however, comes with significant costs as well, with average rents of 1200 for a 2-bedroom apartment and 1225 for a house. It's crucial to evaluate your long-term plans: renting may offer flexibility, while buying can build equity. Additionally, consider local amenities and job prospects that could influence your decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Herkimer, NY.
- Electricity Price: $26.08 USD (median by state)
- Natural Gas Price: $18.13 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Herkimer, NY could entail higher utility costs. Electricity costs sit at $26.08, while natural gas is priced at $18.13 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Herkimer is a financially viable option for your relocation.