Mortgage on a $350K house in New York
$2,474 a month with 20% down — $1,884 principal and interest plus $415 property tax and $175 insurance.
New York's typical property tax is 1.42% of the home's value a year (U.S. average 0.9%), which adds $415 a month on a $350K home. The typical home in New York is worth $524,942, so $350K is 33% below the typical price.
$350K 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 | $70,000 | $280,000 | $1,884 | $0 | $590 | $2,474 | $106,000 |
| 10% down | $35,000 | $315,000 | $2,119 | $131 | $590 | $2,841 | $121,700 |
| 5% down | $17,500 | $332,500 | $2,237 | $139 | $590 | $2,966 | $127,100 |
| 3.5% down (FHA) | $12,250 | $343,661 | $2,312 | $155 | $590 | $3,057 | $131,000 |
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 $350K buy a typical home?
In these counties the typical home value is within 15% of $350K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Tompkins County | $350,432 | 2.24% | $2,712 |
| Greene County | $368,122 | 1.49% | $2,494 |
| Rensselaer County | $327,950 | 2.05% | $2,657 |
| Albany County | $372,401 | 1.77% | $2,573 |
| Yates County | $325,604 | 1.88% | $2,608 |
| Sullivan County | $323,717 | 2% | $2,641 |
| Ontario County | $323,653 | 2.05% | $2,656 |
| Warren County | $380,651 | 1.47% | $2,488 |
| Schenectady County | $312,933 | 2.36% | $2,748 |
43 of 62 New York counties tracked by Zillow have a typical home value at or below $350K. See all New York home prices.
Other prices in New York
Frequently asked questions
What is the mortgage on a $350K house in New York?
About $2,474 a month with 20% down at 7.11%: $1,884 principal and interest, $415 property tax and $175 insurance.
How much do I need to make to buy a $350K house in New York?
About $106,000 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $350K house in New York?
At New York's typical effective rate of 1.42%, about $4,984 a year. Rates vary by county and city — see the county pages.