Total monthly cost of ownership
Cost to Own a Home in Elmira Heights, New York
A $98,000 home here costs
$1,133per 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 $48,500 a year.
A standard mortgage calculator would have told you $534. The real number is $599 higher every month, 112% more than the payment most buyers budget for.
Compare Chemung County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Elmira Heights from a five-year rolling sample, and with about 4,254 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 Chemung 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.
Elmira Heights against Chemung County and New York
| Measure | Elmira Heights | Chemung County |
|---|---|---|
| Median home value | $98,200 | $132,100 |
| Median property tax | $3,178 | $3,332 |
| Effective tax rate | 3.236% | 2.522% |
| Median gross rent | $807 | $1,020 |
| Population | 4,254 | 82,805 |
The weather behind that power bill
Elmira Heights sits in Chemung County, which averages a high of 82.4°F in its hottest month and a low of 16.4°F in its coldest, with 32.36" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 490 cooling and 6,648 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Chemung County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Chemung County
Full Chemung County cost breakdown · Every county in New York
Talk to someone who works this market
These are Elmira Heights 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 Elmira Heights every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Elmira Heights?
A $98,000 home in Elmira Heights, New York costs approximately $1,133 per month with 20% down at 7.24%. That is $534 principal and interest, $264 property tax, $22 homeowners insurance, $232 utilities and $82 set aside for maintenance.
What is the property tax rate in Elmira Heights?
Elmira Heights has an effective property tax rate of 3.236%, based on a median home value of $98,200 and median real estate taxes of $3,178. That is higher than the Chemung County average of 2.522%.
What is the average home price in Elmira Heights?
The median owner-occupied home value in Elmira Heights, New York is $98,200, against $132,100 across Chemung County.
Is it cheaper to rent or buy in Elmira Heights?
Median gross rent in Elmira Heights is $807 a month, against $1,133 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 Elmira Heights?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Elmira Heights, New York at today's rate takes a household income of roughly $48,500 a year. That covers the full $1,133 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Elmira Heights, 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.