Having lived an hour from Syracuse during undergrad, I can tell you that the cost of living is VERY low in upstate New York. You can probably live quite comfortably for around 1000 per month (rent, food, utilities) close to the campus (living in the suburbs is a bit nicer and quieter but also a bit more costly and will require a car as Syracuse lacks decent public transportation)...
The main drawbacks are the brutal, snowy winters and the lack of "glamour" compared to a large city (L.A., NYC). But if you're the type to enjoy the outdoors (hiking, skiing, fishing, etc.), then Syracuse is a good place to live.