Total monthly cost of ownership
Cost to Own a Home in Alfred, New York
A $169,000 home here costs
$1,852per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $869. The real number is $983 higher every month — 113% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Alfred against Allegany County and New York
| Measure | Alfred | Allegany County |
|---|---|---|
| Median home value | $169,100 | $97,900 |
| Median property tax | $5,618 | $2,881 |
| Effective tax rate | 3.322% | 2.943% |
| Median gross rent | $807 | $754 |
| Population | 4,632 | 47,027 |
The weather behind that power bill
Alfred sits in Allegany County, which averages a high of 80.2°F in its hottest month and a low of 13.3°F in its coldest, with 40.18" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 302 cooling and 7,252 heating degree days, which is what sets the $269 electricity line above.
See the full climate breakdown for Allegany County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Allegany County
Full Allegany County cost breakdown · Every county in New York
Common questions
How much does it cost to own a home in Alfred?
A $169,000 home in Alfred, New York costs approximately $1,852 per month with 20% down at 6.66%. That is $869 principal and interest, $468 property tax, $37 homeowners insurance, $337 utilities and $141 set aside for maintenance.
What is the property tax rate in Alfred?
Alfred has an effective property tax rate of 3.322%, based on a median home value of $169,100 and median real estate taxes of $5,618. That is higher than the Allegany County average of 2.943%.
What is the average home price in Alfred?
The median owner-occupied home value in Alfred, New York is $169,100, against $97,900 across Allegany County.
Is it cheaper to rent or buy in Alfred?
Median gross rent in Alfred is $807 a month, against $1,852 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Alfred — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for New York.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.