Mortgage on a $200K house in New York
$1,414 a month with 20% down — $1,076 principal and interest plus $237 property tax and $100 insurance.
New York's typical property tax is 1.42% of the home's value a year (U.S. average 0.9%), which adds $237 a month on a $200K home. The typical home in New York is worth $524,942, so $200K is 62% below the typical price.
$200K home in New York: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $40,000 | $160,000 | $1,076 | $0 | $337 | $1,414 | $60,600 |
| 10% down | $20,000 | $180,000 | $1,211 | $75 | $337 | $1,623 | $69,600 |
| 5% down | $10,000 | $190,000 | $1,278 | $79 | $337 | $1,695 | $72,600 |
| 3.5% down (FHA) | $7,000 | $196,378 | $1,321 | $88 | $337 | $1,747 | $74,900 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.42% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in New York does $200K buy a typical home?
In these counties the typical home value is within 15% of $200K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Lewis County | $198,555 | 1.62% | $1,446 |
| Broome County | $201,781 | 2.52% | $1,596 |
| Herkimer County | $204,078 | 2.1% | $1,527 |
| Orleans County | $207,563 | 2.72% | $1,629 |
| Oswego County | $208,964 | 2.4% | $1,577 |
| Tioga County | $209,229 | 2.33% | $1,565 |
| Cortland County | $209,513 | 2.56% | $1,603 |
| Montgomery County | $213,640 | 2.46% | $1,586 |
| Wyoming County | $214,905 | 2.25% | $1,551 |
| Chautauqua County | $180,657 | 2.27% | $1,554 |
| Otsego County | $220,102 | 1.7% | $1,459 |
| Franklin County | $178,454 | 1.68% | $1,456 |
9 of 62 New York counties tracked by Zillow have a typical home value at or below $200K. See all New York home prices.
Other prices in New York
Frequently asked questions
What is the mortgage on a $200K house in New York?
About $1,414 a month with 20% down at 7.11%: $1,076 principal and interest, $237 property tax and $100 insurance.
How much do I need to make to buy a $200K house in New York?
About $60,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $200K house in New York?
At New York's typical effective rate of 1.42%, about $2,848 a year. Rates vary by county and city — see the county pages.