Binghamton is a budget-friendly market in the Northeast with a small but investable metro of 48,000. At a 5.12% estimated cap rate, this is a moderate market where rents of $1,270/mo lag behind home prices. With a median home price of $185,000 and the population has been declining, which investors should factor into long-term projections, Binghamton offers opportunities for investors who source deals carefully.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
Binghamton's 0.7% rent-to-price ratio is well below the 1% rule. At median prices of $185,000, the $1,270/mo rent produces only $790/mo in NOI. Investors here need to target below-median properties or pursue value-add strategies to make the numbers work.
At current rates, a 20% down conventional loan ($37K at 7%) would result in approximately $-194/mo cash flow — negative at median prices. Larger down payments, seller financing, or buying 15–25% below median are strategies to turn the numbers positive.
Property taxes consume 21% of gross rent here — one of the highest ratios in our dataset. This significantly compresses margins and makes Binghamton a market where tax-conscious underwriting is essential. Every deal should be stress-tested with potential assessment increases.
Pre-filled with Binghamton medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Binghamton.
Binghamton, NY has a population of 48,000 and has been growing at -0.3% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $185,000 paired with median rents of $1,270/mo produces an estimated cap rate of 5.12%.
Property taxes at 1.72% are notably high and represent a significant drag on cash flow — model this expense carefully, as it can make or break a deal. The vacancy rate of 7.2% runs above average, which increases cash flow volatility and warrants conservative underwriting.
At a price-to-income ratio of 5.0x, homes cost about 5.0 times the local median income of $36,800. This moderate ratio indicates a balanced rent-vs-buy market. Home values have appreciated at roughly 1.7% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Binghamton presents moderate opportunities. Cap rates near 5.12% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.