Housing costs in Otego?
A typical home costs
$220,300, which is 34.8% less expensive than the national average of
$338,100 and 46.7% less expensive than the average New York home, at
$413,600. Renting a two-bedroom unit in Otego costs
$980 per month, which is 31.5% more than the national average of
$1,430 and 100.0% more than the state average of
$1,960.
Can I afford Otego?
To live comfortably in Otego, New York, a minimum annual income of
$42,120 for a family, and
$32,800 for a single person is recommended.
What does A.I. say about Otego?
The cost of living in Otego, NY is relatively low compared to the national average. According to Sperling's Best Places, the overall cost of living index for Otego is 95.8, which is lower than the U.S. average of 100. The median home price for Otego is also quite affordable, coming in at around $91,400 as of 2020, which is much less than the New York state median of $316,000. Groceries and healthcare are both slightly cheaper than the U.S. average in Otego as well, with grocery expenses coming in at 98 and healthcare expenses at 95 relative to the national average. These low costs make Otego an attractive option for those looking for an affordable place to live within New York State.