Ithaca is one of the most quintessential college towns in the United States. The students attending Cornell University number 20,000, nearly two-thirds of the full time population of the town. Combine that with the two smaller schools of Ithaca College and Tompkins Cortland Community College, and it becomes clear why student culture is alive and well in Ithaca. Ithaca is well known for being a beautiful town, with stunning scenery both on the Cornell campus, and in the countryside surrounding the community. Cornell is one of the elite "Ivy League" schools, representing what is typically recognized as the best education available in the country. With 44 Nobel Laureates among its graduates, Cornell's results speak for themselves.
Ithaca has very limited apartment availability. It actually only has a fraction of the available rental units when compared to the national average. For this reason, it is important to start your search as early as possible. If you accept a placement at Cornell and want to live off campus, you should start apartment hunting as soon as you've decided to attend.
Finding an apartment can be hard, especially when there are so many choices. With our filters, you can narrow your search by price, floorplan, and amenities. Looking for an apartment building with a fitness center, swimming pool, and easy access to a dog park? We've got you covered.
You will be hard pressed to find a similarly sized town with a better public transit system than Ithaca. The TCAT system connects all major points in Ithaca, and provides a great means for commuting from an apartment to the University. It also connects to the surrounding county and is a provides a means for easily touring around to some of the surrounding country.
If you like live music, you'll enjoy the bustling music scene Ithaca is home to. The University also has many attractions worth visiting, including Cornell Plantations, which is a large botanical garden. There are several worthwhile waterfalls nearby the city that make for great day hikes. If you're just looking for a place to wet your whistle, head to one of the many Collegetown bars.
Welcome to the August 2021 Ithaca Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the August 2021 key findings and figures for the Ithaca rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Ithaca and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Ithaca average rent prices in the chart below.
Ithaca rent prices decreased over the last month. From July to August, the city experienced a -0.79% decrease for the price of a one-bedroom apartment. The rent price for a Ithaca one-bedroom apartments currently stands at $1,124.0.
When we take a look at the two-bedroom comparison from July to August, Ithaca experienced a -3.2% decrease for the price of a two-bedroom apartment. The rent price for a Ithaca two-bedroom apartments currently stands at $1,512.0.
Rent prices have decreased in Ithaca over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Ithaca suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rents did not increase in any of the Ithaca suburbs
Rents did not decrease in any of the Ithaca suburbs.
Rent growth in Ithaca over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Ithaca average rent prices appear to be relatively affordable for local residents.
The price for a Ithaca one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
You can view the full rundown of Rentable's August 2021 National Apartment Report and data set here.
For more information about Ithaca and surrounding area rent prices, take a look at the complete data set below.
|1 BR August||1 BR M/M % Change||2 BR August||2 BR M/M % Change|
Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.