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Old 06-19-2014, 04:51 AM
 
146 posts, read 300,346 times
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I was just curious if anyone can tell me how realistic it is for a family of four to live in Ithaca on $50K a year.

We have a decent-sized downpayment for a house (around $100,000) so with any luck we would be able to afford something livable. We tend to live fairly frugally (i.e. drive a used car, no expensive hobbies, not obsessed with getting the latest hi-tech gadgets) but we'd like to have a decent quality of life while still saving a little $$$ for our kids' college tuition etc.

Any thoughts on whether or not this is feasible?
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Old 06-19-2014, 06:04 AM
 
Location: Maryland outside DC
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It's possible, at least according to this site:

Living Wage Calculator - Living Wage Calculation for Ithaca city, Tompkins County, New York
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Old 06-19-2014, 10:40 AM
 
Location: Ithaca NY
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Are the kids in daycare or have any other expensive activities? What sort of commute is reasonable to you? Would you be expecting to travel to wherever your family is regularly? Are you looking for a house on a big plot of land?

I think it's totally doable for some folks I know and untenable for others. For our particular family to thrive with that salary, we would probably live in Cayuga county and commute, and live on a single salary to minimize daycare/ preschool costs. A cost of living calculator may help you to compare what it's like in your current location vs around here.
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Old 06-19-2014, 10:51 AM
 
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Quote:
Originally Posted by tchemgrrl View Post
Are the kids in daycare or have any other expensive activities? What sort of commute is reasonable to you? Would you be expecting to travel to wherever your family is regularly? Are you looking for a house on a big plot of land?

I think it's totally doable for some folks I know and untenable for others. For our particular family to thrive with that salary, we would probably live in Cayuga county and commute, and live on a single salary to minimize daycare/ preschool costs. A cost of living calculator may help you to compare what it's like in your current location vs around here.
Could you get away with that salary in Dryden, Trumansburg, Newfield or Groton? I would think that Cortland County would work too.
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Old 06-19-2014, 07:34 PM
 
Location: Ithaca NY
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Yeah, they're all possibilities. Of them, Trumansburg would be the most expensive, almost as expensive as Ithaca proper. But overall my understanding is that taxes are higher across all of Tompkins County, and that will eat into the salary with two houses of comparable price. The best choice will depend on the exact location of the job too, because the quirky geography of the area means that commute times have very little to do with as-the-crow-flies distances.
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Old 06-19-2014, 09:08 PM
 
93,389 posts, read 124,009,048 times
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Originally Posted by tchemgrrl View Post
Yeah, they're all possibilities. Of them, Trumansburg would be the most expensive, almost as expensive as Ithaca proper. But overall my understanding is that taxes are higher across all of Tompkins County, and that will eat into the salary with two houses of comparable price. The best choice will depend on the exact location of the job too, because the quirky geography of the area means that commute times have very little to do with as-the-crow-flies distances.
That makes sense. From what I could look up, it seems like Dryden, Newfield and Groton would be the most affordable choices in the county, but I have heard that some people come in from adjacent counties. Some of the public transportation systems from those counties have shuttles/lines that go to Cornell/other employers in Ithaca as well.
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