Cost of Living in Schenectady, NY
Updated November 2026 · Schenectady County · Albany-Schenectady-Troy, NY metro area · population 68,847
Prices in Schenectady are 2.5% below the US average (local index 97.5; the BEA index for the Albany-Schenectady-Troy, NY metro area is 99.6), with local housing the biggest saving at 92.2; a single adult's modelled budget is about $2,594 a month and the median rent is $1,145.
Prices by category
CostLiving local estimate. 100 = US average; 110 means prices are 10% higher. Housing reflects Schenectady's own median rent compared with the area's average rent; goods, utilities and other services are BEA's official price parities for the Albany-Schenectady-Troy, NY metro area, unchanged.
Schenectady price index by category, US average = 100: All items 97.5, Housing (rents) 92.2, Goods 99.7, Utilities 134.0, Other services 97.8
It is the 13th most expensive of the 19 New York cities in our data. Cheaper than 67% of the cities we cover.
| BEA index | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| All items | 99.4 | 99.0 | 99.0 | 96.6 | 98.2 | 99.6 |
Monthly budget by household type
1 adult · 1-bedroom · modelled estimate for Schenectady, NY
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $856 | $10,272 | 33% |
| Utilities | $328 | $3,936 | 13% |
| Food at home | $281 | $3,372 | 11% |
| Transportation | $619 | $7,428 | 24% |
| Health care | $344 | $4,128 | 13% |
| Clothing, personal care & supplies | $166 | $1,992 | 6% |
| Total | $2,594 | $31,128 | 100% |
2 adults · 2-bedroom · modelled estimate for Schenectady, NY
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $956 | $11,472 | 23% |
| Utilities | $523 | $6,276 | 12% |
| Food at home | $519 | $6,228 | 12% |
| Transportation | $1,226 | $14,712 | 29% |
| Health care | $637 | $7,644 | 15% |
| Clothing, personal care & supplies | $327 | $3,924 | 8% |
| Total | $4,188 | $50,256 | 100% |
2 adults + 2 children · 3-bedroom · modelled estimate for Schenectady, NY
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,061 | $12,732 | 21% |
| Utilities | $637 | $7,644 | 13% |
| Food at home | $740 | $8,880 | 15% |
| Transportation | $1,631 | $19,572 | 32% |
| Health care | $593 | $7,116 | 12% |
| Clothing, personal care & supplies | $421 | $5,052 | 8% |
| Total | $5,083 | $60,996 | 100% |
Modelled estimate of basic costs, excluding taxes, child care and savings. Housing is rent excluding tenant-paid utilities (counted under utilities). See how the budget is calculated.
Housing costs in Schenectady
Rent by number of bedrooms
| Size | Median rent |
|---|---|
| Studio | $872 |
| 1 bedroom | $1,033 |
| 2 bedrooms | $1,154 |
| 3 bedrooms | $1,280 |
| 4 bedrooms | $1,258 |
Median rent: Census ACS 2020-2024 median gross rent by bedrooms (rent plus tenant-paid utilities, all renters).
Rent, home values and affordability
| Measure | Value |
|---|---|
| Median gross rent | $1,145 |
| Median contract rent (excl. utilities) | $949 |
| Median home value | $168,800 |
| Owner costs with a mortgage | $1,596/mo |
| Median household income | $58,399 |
| Rent as % of renter income Very expensive | 35.8% |
| Home value ÷ household income Very affordable | 2.9× |
Census ACS 5-year 2020-2024.
Electricity and gas prices
Residential electricity in New York
28.65¢ per kWh, August 2026
12-month change: +7.5% (from 26.64¢) · US 18.16¢
Average household uses 586 kWh a month in New York ≈ $168/month. Source: EIA-861M (statewide average).
Regular gasoline
$4.22 per gallon, week of 2026-11-02
12-month change: +40.4% (from $3.00) · US $4.15
EIA weekly retail price survey.
Inflation in the Northeast
Consumer prices in the Northeast Census region rose +4.2% in the 12 months to September 2026 (US +3.7%). Nationally, food at home changed +1.8%, shelter +3.2% and energy +20.4%. Source: BLS CPI-U, not seasonally adjusted. CPI is published for regions and large metro areas, so the regional figure is shown.
Salary equivalent
Because prices in Schenectady are 2.5% below the US average, $60,000 here has the buying power of about $61,500 in an average-priced US area.
Formula: US-equivalent = salary × 100 ÷ 97.5. Based on the local cost index (CostLiving estimate from BEA RPP and Census rents); taxes not included.
Nearby cities
| City | Distance | Index | Budget (single) | Median rent |
|---|---|---|---|---|
| Albany, NY | 11 mi | 98.6 | $2,647 | $1,216 |
| Troy, NY | 14 mi | 98.0 | $2,676 | $1,175 |
| Saratoga Springs, NY | 20 mi | 102.3 | $3,022 | $1,470 |
| Utica, NY | 69 mi | 93.1 | $2,328 | $951 |
| Chicopee, MA | 82 mi | 95.2 | $2,542 | $1,157 |
| Springfield, MA | 85 mi | 95.1 | $2,593 | $1,144 |
Cities with a similar cost of living
| City | Index | Budget (single) | Median rent |
|---|---|---|---|
| Detroit, MI | 97.5 | $2,289 | $1,074 |
| Durham, NC | 97.5 | $2,836 | $1,508 |
| Asheville, NC | 97.5 | $2,754 | $1,402 |
| Houston, TX | 97.6 | $2,698 | $1,361 |
| Eureka, CA | 97.5 | $2,646 | $1,195 |
| Ketchikan, AK | 97.4 | $2,665 | $1,417 |
Compare Schenectady with another city
Frequently asked questions
Is Schenectady, NY an expensive place to live?
Schenectady has a local cost of living index of 97.5, which is 2.5% below the US average. This CostLiving estimate starts from the BEA Regional Price Parities 2024 for the Albany-Schenectady-Troy, NY metro area (99.6) and adjusts housing to Schenectady's own rents. It is 10.4 points below the New York average. It is the 13th most expensive of the 19 New York cities in our data. Cheaper than 67% of the cities we cover.
How much money do you need to live in Schenectady?
Our modelled estimate of basic monthly costs is $2,594 for a single adult, $4,188 for a couple and $5,083 for a family of four, before taxes, child care and savings. A $60,000 salary in an average-priced US area buys about the same as $58,500 in Schenectady.
What is the average rent in Schenectady?
The median gross rent (rent plus tenant-paid utilities) is $1,145 a month (Census ACS 2020-2024). By size: 1 bedroom $1,033, 2 bedrooms $1,154, 3 bedrooms $1,280. The typical renter spends 35.8% of household income on rent (very expensive).
How much does a house cost in Schenectady?
The median owner-estimated home value is $168,800, 2.9 times the median household income of $58,399 (very affordable). Owners with a mortgage pay a median $1,596 a month in housing costs.
How much is electricity and gas in Schenectady?
New York residential electricity averaged 28.65¢ per kWh in August 2026 (US 18.16¢). Regular gasoline was $4.22 a gallon (New York average, week of 2026-11-02).
Sources and notes
- Local cost index: CostLiving estimate from BEA Regional Price Parities 2024 for the Albany-Schenectady-Troy, NY metropolitan statistical area (BEA index 99.6) with housing from Census ACS median rent (city figure); see the methodology.
- Rents, home values, income, population: U.S. Census Bureau ACS 5-year 2020-2024, Census place 3665508 (Schenectady city).
- Electricity: EIA-861M, New York residential average, August 2026.
- Gasoline: EIA weekly retail regular gasoline, New York, week of 2026-11-02.
- Inflation: BLS CPI-U Northeast region, September 2026.
- Budget baselines: BLS Consumer Expenditure Survey 2025; electricity use by household size: EIA RECS 2020.
Labels such as “county figure” or “state nonmetro figure” mark values that come from a larger area because the city-level figure is unavailable or unreliable. The monthly budget is a modelled estimate, not observed spending, and excludes taxes. This page is for general information and is not financial advice. Methodology · All sources