Total monthly cost of ownership
Cost to Own a Home in Cuba, New York
A $86,000 home here costs
$1,059per 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 $45,500 a year.
A standard mortgage calculator would have told you $469. The real number is $590 higher every month, 126% more than the payment most buyers budget for.
Compare Allegany County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Cuba from a five-year rolling sample, and with about 1,755 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 Allegany 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.
Cuba against Allegany County and New York
| Measure | Cuba | Allegany County |
|---|---|---|
| Median home value | $86,100 | $97,900 |
| Median property tax | $3,221 | $2,881 |
| Effective tax rate | 3.741% | 2.943% |
| Median gross rent | $794 | $754 |
| Population | 1,755 | 47,027 |
The weather behind that power bill
Cuba 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 $164 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
Talk to someone who works this market
These are Cuba 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 Cuba every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Cuba?
A $86,000 home in Cuba, New York costs approximately $1,059 per month with 20% down at 7.24%. That is $469 principal and interest, $268 property tax, $19 homeowners insurance, $232 utilities and $72 set aside for maintenance.
What is the property tax rate in Cuba?
Cuba has an effective property tax rate of 3.741%, based on a median home value of $86,100 and median real estate taxes of $3,221. That is higher than the Allegany County average of 2.943%.
What is the average home price in Cuba?
The median owner-occupied home value in Cuba, New York is $86,100, against $97,900 across Allegany County.
Is it cheaper to rent or buy in Cuba?
Median gross rent in Cuba is $794 a month, against $1,059 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 Cuba?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Cuba, New York at today's rate takes a household income of roughly $45,500 a year. That covers the full $1,059 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cuba, 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.