Parts of Central New York, the Southern Tier, and the North Country are known for their affordable housing.
According to a new study from SmartAsset, eight localities throughout the region ranked on their top 10 list of most affordable places to live in New York.
The study weighed factors, including taxes, homeowners’ insurance and home costs relative to the local median income. Places where home ownership costs were lowest relative to the median income in each location were considered the most affordable.
Included in the top 10 are:
1) Southport
- Average Closing Cost: $2,923
- Annual Property Tax: $1,890
- Annual Homeowner's Insurance: $342
- Average Annual Mortgage Payment: $4,233
- Median Income: $49,722
2). Waterloo
- Average Closing Cost: $3,788
- Annual Property Tax: $3,291
- Annual Homeowner's Insurance: $350
- Average Annual Mortgage Payment: $4,321
- Median Income: $58,060
3). Hornell
- Average Closing Cost: $3,478
- Annual Property Tax: $1,992
- Annual Homeowner's Insurance:$279
- Average Annual Mortgage Payment: $3,454
- Median Income: $41,861
4) West Elmira
- Average Closing Cost: $2,682
- Annual Property Tax: $3,715
- Annual Homeowner's Insurance: $552
- Average Annual Mortgage Payment: $6,825
- Median Income: $72,733
5) Ogdensburg
- Average Closing Cost: $3,424
- Annual Property Tax: $2,387
- Annual Homeowner's Insurance: $292
- Average Annual Mortgage Payment: $3,608
- Median Income: $42,144
6) Ilion
- Average Closing Cost: $3,680
- Annual Property Tax: $2,932
- Annual Homeowner's Insurance: $332
- Average Annual Mortgage Payment: $4,109
- Median Income: $48,963
9) Mattydale
- Average Closing Cost: $2,986
- Annual Property Tax: $2,817
- Annual Homeowner's Insurance: $358
- Average Annual Mortgage Payment: $4,429
- Median Income: $47,672
10) Westvale
- Average Closing Cost: $2,779
- Annual Property Tax: $4,905
- Annual Homeowner's Insurance: $623
- Average Annual Mortgage Payment: $7,702
- Median Income: $79,558
Also on the list are Johnstown, in Fulton County, and Grandyle Village, in Erie County.