Total monthly cost of ownership
Cost to Own a Home in Depew, New York
A $181,000 home here costs
$1,871per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $80,000 a year.
A standard mortgage calculator would have told you $1,003. The real number is $868 higher every month, 87% more than the payment most buyers budget for.
Compare Erie 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.
Depew against Erie County and New York
| Measure | Depew | Erie County |
|---|---|---|
| Median home value | $180,800 | $217,400 |
| Median property tax | $5,260 | $4,525 |
| Effective tax rate | 2.909% | 2.081% |
| Median gross rent | $1,048 | $1,037 |
| Population | 15,065 | 950,044 |
The weather behind that power bill
Depew sits in Erie County, which averages a high of 80.2°F in its hottest month and a low of 19.0°F in its coldest, with 40.68" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 608 cooling and 6,466 heating degree days, which is what sets the $171 electricity line above.
See the full climate breakdown for Erie County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Erie County
Talk to someone who works this market
These are Depew 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 Depew 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 Depew?
A $181,000 home in Depew, New York costs approximately $1,871 per month with 20% down at 7.4%. That is $1,003 principal and interest, $439 property tax, $40 homeowners insurance, $239 utilities and $151 set aside for maintenance.
What is the property tax rate in Depew?
Depew has an effective property tax rate of 2.909%, based on a median home value of $180,800 and median real estate taxes of $5,260. That is higher than the Erie County average of 2.081%.
What is the average home price in Depew?
The median owner-occupied home value in Depew, New York is $180,800, against $217,400 across Erie County.
Is it cheaper to rent or buy in Depew?
Median gross rent in Depew is $1,048 a month, against $1,871 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 Depew?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Depew, New York at today's rate takes a household income of roughly $80,000 a year. That covers the full $1,871 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Depew, 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.