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City · 32,814 residents · Tompkins County, New York

Ithaca , New York

In Ithaca, a typical home is worth $342,700 and typical rent is $1,447 a month. Compared with all of Tompkins County, typical household income is 34% lower, the typical home value is 18% higher, and the share of households that own their home is 25 points lower.

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  • Typical home value

    $342,700

    18% above the county

    19% below New York

    • Ithaca
    • Tompkins
    • New York

  • Typical rent

    $1,447a month

    3% above the county

    11% below New York

    • Ithaca
    • Tompkins
    • New York

  • Typical household income

    $48,784a year

    34% below the county

    43% below New York

    • Ithaca
    • Tompkins
    • New York

  • Households that own their home

    30%

    25 points below the county

    25 points below New York

    • Ithaca
    • Tompkins
    • New York

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical rent
$2,038 a month
3.9% more than 12 months ago

From Zillow (ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Ithaca is in Tompkins County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Tompkins County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Ithaca apart

What this place has that others do not, from public data, most unusual first.

  1. Ithaca has the 5th lowest homeownership rate of the 347 cities in New York with more than 5,000 people (30%).

  2. Nearby, in Elmira, the typical home value is $93,000: 73% less than in Ithaca ($342,700).

  3. Nearby, in Elmira, the typical rent is $909: 37% less than in Ithaca ($1,447).

  4. The typical household income in Ithaca is $48,784, 34% less than in Tompkins County as a whole ($74,024).

  5. The typical home in Ithaca is worth $342,700, 18% more than in Tompkins County as a whole ($290,900).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Ithaca

What homes there are in Ithaca, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Many people here live in apartments: 4 in 10 homes; in Tompkins County, 2.

Year built

There are fewer big homes in Ithaca than in Tompkins County: 43% have 3 bedrooms or more, against 55%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$2,368 a month

Tompkins County: $2,042 a month

Without a mortgage

$994 a month

Tompkins County: $857 a month

Owners with a mortgage

55%

Tompkins County: 52%

In Ithaca, 55% of owners have a mortgage, and their typical cost is $2,368 a month, against $2,042 in Tompkins County. Without one it drops to $994.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Ithaca rose 43% since 2015–2019, about the same as in Tompkins County (42%).

Rents in Ithaca rose at about the same pace as in Tompkins County: 20% since 2015–2019, against 21%.

To compare: typical income in Ithaca rose 42%; the home, +43%; the rent, +20%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureIthacaTompkins CountyNew YorkUnited States
Rental vacancy 3.5%2.8%3.8%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate1.1%0.9%
More than one person per room Unreliable estimate1.3%5.3%3.4%
People per household 1.712.062.492.53
Drive alone 30%52%49%69%
Carpool 7%9%6%9%
Public transit 9%5%22%3%
Walk or bike 28%13%6%3%
Work from home 25%20%15%15%
Other means Unreliable estimate1%2%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

Open rentals in Ithaca look like those in Tompkins County: the rental vacancy rate is 3.5%.

Households in Ithaca are smaller: 1.71 people on average; in Tompkins County, 2.06.

More people walk or bike to work in Ithaca: 28%, against 13% in Tompkins County.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Ithaca?

A typical home costs more than the typical income allows

We start with a typical home in Ithaca, worth $342,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 82% of the typical household income in Ithaca, which is $48,784 a year. For that payment to be 28% of income, a household would need to earn about $142,131 a year.

The calculator's FHA and conventional loan limits are those of all of Tompkins County.

Your numbers

Local data
$

Starts at the typical home value in Ithaca. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $11,995 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,316

at 7.18% · 30 years

Loan amount
$336,492
Total interest
$484,134
Paid off in
November 2056

Includes $5,787 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,138 a month

  • Tight

    $1,138 to $1,464 a month

  • Hard

    more than $1,464 a month

    Your payment · 82%

Compared with the typical household income in Ithaca ($48,784 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,316
Principal & interest$2,280
Property tax$743
Home insurance$143
FHA mortgage insurance (MIP)$152

You need at least $11,995 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Ithaca and Tompkins County

Ithaca is in Tompkins County, New York. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Ithaca's own numbers

Typical home value
$342,700
Typical monthly rent
$1,447
Typical yearly household income
$48,784
Households that own their home
30%
Effective property tax rate
2.6%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Tompkins County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,709
Price change over 5 years (FHFA)
+56%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Tompkins County.

Everything about Tompkins County

Buying

Buying a home in Ithaca

A typical home in Ithaca is worth $342,700: 18% above the county and 19% below New York. With the typical household income in Ithaca ($48,784 a year), a typical home costs 7.0 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Ithaca 7.0 years
  • Tompkins 3.9 years
  • New York 4.9 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Tompkins County

According to FHFA’s house price index, home prices in Tompkins County rose 79% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Tompkins County.

Period County New York U.S.
Last year (2025) +6.7% +6.0% +2.9%
5 years (2020–2025) +56% +52% +47%
10 years (2015–2025) +79% +86% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Ithaca next to Tompkins County, New York and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Ithaca $342,700
  • Tompkins $290,900
  • New York $423,800
  • United States $332,700
Typical monthly rent
  • Ithaca $1,447
  • Tompkins $1,411
  • New York $1,621
  • United States $1,413
Typical yearly household income
  • Ithaca $48,784
  • Tompkins $74,024
  • New York $85,974
  • United States $80,734
See the full table
Ithaca next to Tompkins County and New York
Measure Ithaca Tompkins County New York U.S.
Typical home value $342,700 $290,900 $423,800 $332,700
Typical monthly rent $1,447 $1,411 $1,621 $1,413
Typical yearly household income $48,784 $74,024 $85,974 $80,734
Households that own their home 30% 54% 54% 65%
Typical yearly property tax $8,897 $6,515 $6,582 $3,119
Effective property tax rate 2.6% 2.24% 1.55% 0.94%
Renters with high rent for their income 65% 59% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Tompkins County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Ithaca

For a typical $342,700 home in Ithaca, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Ithaca's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,316a month

    Least cash to close
    Down payment
    $11,995
    Cash to close
    $22,276
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $152

  • Conventional, 5% down $3,254a month

    Down payment
    $17,135
    Cash to close
    $27,416
    Rate
    7.18%
    Mortgage insurance
    PMI · $163

  • Conventional, 20% down, no PMI $2,743a month

    Down payment
    $68,540
    Cash to close
    $78,821
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,059a month

    Down payment
    $51,405
    Cash to close
    $61,686
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Ithaca and for Tompkins County.

Property tax

Effective rate in Ithaca

2.6%of the home’s value each year

$8,897 a year for the typical owner in Ithaca.

  • Ithaca 2.6%
  • Tompkins 2.24%
  • New York 1.55%

What New York publishes Basic STAR school tax relief (New York State Department of Taxation and Finance)

Exemptions and deadlines in New York

Flood risk in Tompkins County

FEMA does not publish these numbers by city: they are for all of Tompkins County.

FEMA’s maps count no homes in the high-risk zone in Tompkins County. That does not mean it cannot flood: check your address.

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Ithaca

Typical rent in Ithaca is $1,447 a month: 3% above the county. In Ithaca, 65% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Tompkins County, by unit size. To pay the 2-bedroom one ($1,709 a month) without spending more than 30% of your income, you would need to earn $32.87 an hour working full time.

HUD fair market rent for all of Tompkins County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,198 $23.04 $47,920
1 bedroom $1,427 $27.44 $57,080
2 bedrooms $1,709 $32.87 $68,360
3 bedrooms $2,040 $39.23 $81,600
4 bedrooms $2,631 $50.60 $105,240

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Ithaca

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Ithaca has 2 ZIP codes with their own.

For 2 bedrooms it is $1,950 in all of them.

2 of the 2 are above the fair market rent for Tompkins County ($1,709).

  • 14850 $1,950$2,330
  • 14853 $1,950$2,330

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Ithaca when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Ithaca

HUD lists 13 buildings with rents for lower incomes in Ithaca. These are the largest.

  • Titus Towers 800 S Plain St, Ithaca 14850 235 low-income homes · Run by Ithaca Housing Authority · Average payment: $437 a month · Average wait: 5 months · Homes at several sites (607) 273-8629
  • Ellis Hollow Apts 1028 Ellis Hollow Rd, Ithaca 14850 104 homes, 91 low-income · 1 bd: 104 · In service since 2006 · For older adults, families
  • Linderman Creek II Apts 202 Cypress Ct, Ithaca 14850 72 low-income homes · 1 bd: 24 · 2 bd: 40 · 3 bd: 8 · In service since 2003 · For families
  • The Overlook at West Hill I 120 W Hill Cir, Ithaca 14850 64 low-income homes · 1 bd: 12 · 2 bd: 40 · 3 bd: 12 · In service since 2006 · For families, people experiencing homelessness
  • The Overlook at West Hill Phase II 340 W Hill Cir, Ithaca 14850 64 low-income homes · 1 bd: 12 · 2 bd: 40 · 3 bd: 12 · In service since 2007 · For families, people experiencing homelessness

See all 20 buildings in Tompkins County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Ithaca

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Tompkins County; 1 says it serves in Spanish.

An older woman smiles in front of her apartment building.

HUD counseling is free or low-cost

Assistance programs in Ithaca

No down payment, repair or rent-help program on our list is for Ithaca or Tompkins County. The ones below are statewide in New York: they work in Ithaca the same as in the rest of the state.

Which programs do I qualify for? All programs in New York

Housing counselors near Ithaca

The HUD-approved agencies closest to the center of Ithaca, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Ithaca Neighborhood Housing Services, Inc.

    115 W Clinton St, Ithaca · 1 miles away · Spanish

    Also serves in French.

    • Workshops for new owners
    • Pre-purchase counseling
    • and 1 more
    (607) 277-4500

  • Catholic Charities, Elmira, NY

    215 E Church St, Elmira · 29 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    (607) 734-9784

  • Keuka Housing Council

    160 Main St, Penn Yan · 32 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (315) 536-8707

Every agency in Tompkins County All counseling agencies in New York

Help in Spanish near Ithaca

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Ithaca

HUD’s record names them for Ithaca or Tompkins County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Ithaca Housing Authority Public housing and Section 8 vouchers (607) 273-8629

One other authority has an office in Tompkins County: see the list Source: HUD

Cities

Other cities in Tompkins County

These cities are also in Tompkins County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Tompkins County Housing in New York

Nearby cities

The cities closest to Ithaca, with the typical home value.

Neighboring counties

If Tompkins County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Ithaca.

All guides
A mother holds hands with her two daughters on the beach at sunset.

Questions

Housing questions about Ithaca

Short answers with the numbers for Ithaca and all of Tompkins County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Ithaca?

The typical home value in Ithaca is $342,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Tompkins County it is $290,900.

How much does it cost to rent in Ithaca?

Typical rent in Ithaca is $1,447 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Tompkins County is $1,709.

What is the FHA loan limit in Ithaca?

Ithaca uses the FHA limit for all of Tompkins County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Ithaca?

The typical homeowner in Ithaca pays $8,897 a year, according to the U.S. Census Bureau. That is 2.6% of the home’s value; in Tompkins County, the rate is 2.24%.

Where can I find free help to buy or rent in Ithaca?

There is 1 HUD-approved counseling agency with an office in Tompkins County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).