Quick facts: Schenectady, NY

Quick Facts

113.7
Cost of Living
above US average
68,809
Population
40.75
Crime Rate per 1000
above US average
$54,650
Median Income
below US average
$329,900
Median House Price
above US average
$1589.05
Average Rent
above US average
13%
Poverty Rate
above US average
4.6%
Unemployment Rate
above 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 $54,650.

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Income Needed to Buy

βœ— Stretch
$103k/year
Based on $329,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $103k vs median $54,650
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Income Needed to Rent

⚠ Stretch
$68k/year
Based on $1589.05/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $68k vs median $54,650
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Schenectady, NY

Schenectady, located in upstate New York, is a vibrant city known for its rich history and cultural offerings. Founded in the early 17th century, it played a key role during the American Revolution and was a center for the development of railroads and the General Electric Company, which has deep roots in the city. The city's downtown area features a blend of historic architecture and modern amenities, including a variety of shops, restaurants, and entertainment venues. The Proctors Theatre is a highlight, offering Broadway shows, concerts, and local performances. Schenectady is also home to several parks, including Central Park, which provides green space for recreation and community events. Culturally, the city hosts diverse festivals and events throughout the year, celebrating its heritage and the arts. The Schenectady Museum & Suits-Bueche Planetarium offers insights into the region's history and science. With a strong sense of community and ongoing development, Schenectady is an appealing destination for residents and visitors alike, offering a unique blend of history, culture, and modern conveniences.

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