Total monthly cost of ownership
Cost to Own a Home in Amsterdam, New York
A $120,000 home here costs
$1,341per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $57,500 a year.
A standard mortgage calculator would have told you $654. The real number is $686 higher every month, 105% more than the payment most buyers budget for.
Compare Montgomery County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Amsterdam against Montgomery County and New York
| Measure | Amsterdam | Montgomery County |
|---|---|---|
| Median home value | $119,800 | $141,600 |
| Median property tax | $3,935 | $3,630 |
| Effective tax rate | 3.285% | 2.564% |
| Median gross rent | $955 | $921 |
| Population | 18,162 | 49,461 |
The weather behind that power bill
Amsterdam sits in Montgomery County, which averages a high of 76.7°F in its hottest month and a low of 7.1°F in its coldest, with 50.73" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 164 cooling and 8,675 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Montgomery County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montgomery County
Full Montgomery County cost breakdown · Every county in New York
Talk to someone who works this market
These are Amsterdam averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Amsterdam every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Amsterdam I already own here and may sell
Common questions
How much does it cost to own a home in Amsterdam?
A $120,000 home in Amsterdam, New York costs approximately $1,341 per month with 20% down at 7.24%. That is $654 principal and interest, $329 property tax, $26 homeowners insurance, $232 utilities and $100 set aside for maintenance.
What is the property tax rate in Amsterdam?
Amsterdam has an effective property tax rate of 3.285%, based on a median home value of $119,800 and median real estate taxes of $3,935. That is higher than the Montgomery County average of 2.564%.
What is the average home price in Amsterdam?
The median owner-occupied home value in Amsterdam, New York is $119,800, against $141,600 across Montgomery County.
Is it cheaper to rent or buy in Amsterdam?
Median gross rent in Amsterdam is $955 a month, against $1,341 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Amsterdam?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Amsterdam, New York at today's rate takes a household income of roughly $57,500 a year. That covers the full $1,341 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Amsterdam, 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.