Total monthly cost of ownership
Cost to Own a Home in Balmville, New York
A $360,000 home here costs
$3,148per 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 $135,000 a year.
A standard mortgage calculator would have told you $1,963. The real number is $1,185 higher every month, 60% more than the payment most buyers budget for.
Compare Orange County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Balmville from a five-year rolling sample, and with about 3,725 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Orange County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Balmville against Orange County and New York
| Measure | Balmville | Orange County |
|---|---|---|
| Median home value | $359,600 | $361,100 |
| Median property tax | $6,881 | $8,463 |
| Effective tax rate | 1.914% | 2.344% |
| Median gross rent | $1,671 | $1,602 |
| Population | 3,725 | 403,840 |
The weather behind that power bill
Balmville sits in Orange County, which averages a high of 83.6°F in its hottest month and a low of 17.3°F in its coldest, with 40.99" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 617 cooling and 6,266 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Orange County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Orange County
Full Orange County cost breakdown · Every county in New York
Talk to someone who works this market
These are Balmville 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 Balmville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Balmville I already own here and may sell
Common questions
How much does it cost to own a home in Balmville?
A $360,000 home in Balmville, New York costs approximately $3,148 per month with 20% down at 7.24%. That is $1,963 principal and interest, $574 property tax, $79 homeowners insurance, $232 utilities and $300 set aside for maintenance.
What is the property tax rate in Balmville?
Balmville has an effective property tax rate of 1.914%, based on a median home value of $359,600 and median real estate taxes of $6,881. That is lower than the Orange County average of 2.344%.
What is the average home price in Balmville?
The median owner-occupied home value in Balmville, New York is $359,600, against $361,100 across Orange County.
Is it cheaper to rent or buy in Balmville?
Median gross rent in Balmville is $1,671 a month, against $3,148 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 Balmville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Balmville, New York at today's rate takes a household income of roughly $135,000 a year. That covers the full $3,148 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Balmville, 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.