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Retirement Planning in Herkimer County, NY

What does it take to retire comfortably in Herkimer County? Here are the numbers.

Median Income

$68,104

Retirement Income (80%)

$54,483

Est. Nest Egg Needed

$766,175

Cost of Living Index

105

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$54,483
Est. Social Security$23,836
Annual Income Gap$30,647

Housing Costs

Median Rent$776/mo
Annual Housing$9,312
Property Tax Rate2.3%
Median Home Value$130,900

About Herkimer County, New York

Herkimer County in New York has a median household income of $68,104 and a homeownership rate of 76.0%. Using the 4% rule, retirees in this county would need approximately $766,175 in savings to cover the gap between Social Security and their target retirement income.

These are estimates based on county-level medians. Your actual retirement needs depend on your specific income, expenses, healthcare costs, Social Security benefits, and investment portfolio. Use our calculator for a personalized Monte Carlo analysis.

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Other Counties in New York

Kings CountyQueens CountyNew York CountySuffolk CountyBronx CountyNassau CountyWestchester CountyErie County

County-level data from U.S. Census Bureau American Community Survey (ACS) 2022 5-Year Estimates. Additional sources: SSA, BLS. Estimates based on county-level medians and the 4% withdrawal rule. This is not financial advice.