Mortgage on a $250K house in New York
$1,767 a month with 20% down — $1,345 principal and interest plus $297 property tax and $125 insurance.
New York's typical property tax is 1.42% of the home's value a year (U.S. average 0.9%), which adds $297 a month on a $250K home. The typical home in New York is worth $524,942, so $250K is 52% below the typical price.
$250K 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 | $50,000 | $200,000 | $1,345 | $0 | $422 | $1,767 | $75,700 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $422 | $2,029 | $87,000 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $422 | $2,118 | $90,800 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $422 | $2,184 | $93,600 |
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 $250K buy a typical home?
In these counties the typical home value is within 15% of $250K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Delaware County | $250,587 | 1.72% | $1,828 |
| Schoharie County | $252,001 | 2.03% | $1,894 |
| Washington County | $252,226 | 2.01% | $1,889 |
| Livingston County | $247,627 | 2.45% | $1,982 |
| Wayne County | $253,487 | 2.5% | $1,991 |
| Schuyler County | $246,028 | 1.97% | $1,882 |
| Niagara County | $254,624 | 2.19% | $1,926 |
| Oneida County | $237,718 | 2.02% | $1,891 |
| Cayuga County | $235,019 | 2.19% | $1,926 |
| Madison County | $265,243 | 2.26% | $1,942 |
| Jefferson County | $234,099 | 1.54% | $1,791 |
| Clinton County | $230,451 | 2% | $1,886 |
27 of 62 New York counties tracked by Zillow have a typical home value at or below $250K. See all New York home prices.
Other prices in New York
Frequently asked questions
What is the mortgage on a $250K house in New York?
About $1,767 a month with 20% down at 7.11%: $1,345 principal and interest, $297 property tax and $125 insurance.
How much do I need to make to buy a $250K house in New York?
About $75,700 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $250K house in New York?
At New York's typical effective rate of 1.42%, about $3,560 a year. Rates vary by county and city — see the county pages.