🏦 Mortgage Calculators New York

How Much House Can I Afford in New York?

Find out how much house you can afford in New York with 1.72% property tax. Uses 28/36 rule with New York-specific data.

Free — No Sign-up Verified Data Editorially Reviewed Updated Feb 2026

New York Quick Facts

10.9% Income Tax Rate

1.72% Property Tax Rate

$74,314 Median Income

123.8 Cost of Living

How This Calculator Works

Calculation methodology and assumptions

Calculates home affordability in New York using the 28/36 rule. Maximum 28% of gross monthly income for housing (PITI). Includes New York's effective property tax rate of 1.72% and average home insurance of $1,640/year. Median home price in New York: $420,000.

Key State Information

New York housing market: Median home price $420,000 | Property tax rate 1.72% | Avg home insurance $1,640/yr | Median household income $74,314. Homes are expensive relative to income.

Standard financial formulas Pre-filled with real state data Estimates only — not financial advice

Data Source

Census Bureau, Zillow, Tax Foundation

View Original Source | Verified 2024-12-01 | Updated annually

Frequently Asked Questions

How much house can I afford on the median income in New York?

With New York's median household income of $74,314 and a 10% down payment, you can typically afford a home priced around $260,099-$334,413 depending on debts and interest rates. The median home in New York costs $420,000.

What is the property tax rate in New York?

New York's effective property tax rate is 1.72%. On a $420,000 home, that's approximately $7,224/year or $602/month.