Quiet City in Upstate New York Named Best ‘Bang for Your Buck’ Place to Live

A small city that wraps the Chemung River was just named the most affordable place to live in New York State.

Owning a home remains a dream for many Americans, but the skyrocketing cost of living is turning that dream into a nightmare.

The State Department of Taxation and Finance said the current average home value in New York - excluding New York City - is roughly $331,500.

In 2020, the median sale price was $280,000.

Read More: Guess How Much Your Upstate NY Home Increased in Value This Year

Depending on where you live, home values can either be wildly out of budget or insanely affordable.

In the spirit of those hoping to afford a home and keep up with their monthly mortgage payments, a new study from Advance America identified the city in New York that will give residents the best "bang" for their buck.

This Small City Offers the Most Value for Money in New York

This city is bisected by the Chemung River and is the location of Mark Twain's summer home. Can you guess?

Home to about 26,523 individuals and located in Chemung County, the Queen City of Elmira has snagged the title of New York's most affordable place to live.

Elmira also ranks 26th best in the entire country.

Median home prices are at an average of $130,000. I'm no math expert, but my calculations say that's 60% cheaper than the state's current average.

Aside from being Mark Twain's favorite getaway places and his burial place, it is also home to the National Soaring Museum and the historic Eldridge Park.

Two Other Cities Rank in National "Best Bang for Your Buck" Roundup

Those hoping to nab an affordable home in New York but aren't charmed by Elmira can shop for a place to live in Jamestown and Gloversville.

Jamestown ranks as the 30th most affordable city in America, with prices for a home there averaging about $112,000. Jamestown is known for being the home of Lucille Ball and providing fantastic views of Chautauqua Lake.

The Western New York city is also a short drive away from Lake Erie.

Meanwhile, Gloversville ranks 121st on the national roundup due to its median home values set at $143,000.  The former leather capital of the country is transforming into an art-focused community.

The Mohawk Valley city also is surrounded by mountains and a short drive away from Great Sacandaga Lake.

If these three areas don't tickle your fancy, here's 20 of the hottest real estate markets popping off across New York State.