11 Cheapest Places to Live in New York

5) Waterloo

Located in the Finger Lakes region of upstate New York lies Waterloo, a low-cost village of over 5,000 residents. The cost of living index here is an affordable 88, 12 points under the United States’ average. The median house or condo value is under $86,000, which is much lower than the state’s overall median of $293,500. The median household income, while also lower than average, is still a comfortable $47,144. Despite being a relatively small place, Waterloo is home to a mall of outlet stores where you can get a lot of shopping done. If you would like to spend some time on the water, Fuzzy Guppies canoe rental can help you experience some of the area’s natural beauty closer up. Additionally, you can dip into the history of the region by visiting the historic Peter Whitmer Log Home or the American Civil War Memorial. Other available activities include going to the local golf course or checking out the bars and shops in town.