Average Rent in Binghamton, NY↑ Rents rising 4.1% YoY

Binghamton, NY has rental prices ranging from $869/month to $1,752/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $939/month — 33% below the national average of $1,400/month. With a median household income of $63,347/year, spending $939/month on a 1-bedroom represents 18% of gross income — within the recommended 30% threshold.

How Binghamton Compares

With an average 2-bedroom rent of $1,188/month, Binghamton ranks #19 most expensive of the 41 cities tracked in New York — pricier than 81% of all US cities in our data.

The Binghamton Rental Market

The Binghamton, NY area has a population of about 245,844 and 33% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Binghamton, NY have risen by $47/month (4.1%) over the past year, from $1,141 to $1,188. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Binghamton, NY without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $37,560. The local median household income of $63,347 exceeds that threshold by $25,787, making Binghamton relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Binghamton, NY is $187,281, giving a price-to-rent ratio of 13.1. The break-even point between renting and buying is roughly 13 years — renting offers more flexibility for shorter stays, while buying makes more sense for long-term residents.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Binghamton's neighborhoods. Among the highest-value areas are Port Dickinson ($172,228 median home value). Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Binghamton, NY Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Binghamton?

Break-even analysis and mortgage estimates based on local market data.

Living in Binghamton

Cost of living, job market, crime rates, and moving cost estimates.