Total monthly cost of ownership
Cost to Own a Home in Fort Covington, New York
A $113,000 home here costs
$1,120per 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 $48,000 a year.
A standard mortgage calculator would have told you $616. The real number is $504 higher every month, 82% more than the payment most buyers budget for.
Compare Franklin County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Fort Covington from a five-year rolling sample, and with about 1,053 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 Franklin 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.
Fort Covington against Franklin County and New York
| Measure | Fort Covington | Franklin County |
|---|---|---|
| Median home value | $113,000 | $128,600 |
| Median property tax | $1,844 | $2,418 |
| Effective tax rate | 1.632% | 1.880% |
| Median gross rent | $820 | $819 |
| Population | 1,053 | 47,066 |
The weather behind that power bill
Fort Covington sits in Franklin County, which averages a high of 76.6°F in its hottest month and a low of 2.3°F in its coldest, with 36.61" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 120 cooling and 9,302 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Franklin County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Franklin County
Full Franklin County cost breakdown · Every county in New York
Talk to someone who works this market
These are Fort Covington 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 Fort Covington every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Fort Covington I already own here and may sell
Common questions
How much does it cost to own a home in Fort Covington?
A $113,000 home in Fort Covington, New York costs approximately $1,120 per month with 20% down at 7.24%. That is $616 principal and interest, $154 property tax, $25 homeowners insurance, $232 utilities and $94 set aside for maintenance.
What is the property tax rate in Fort Covington?
Fort Covington has an effective property tax rate of 1.632%, based on a median home value of $113,000 and median real estate taxes of $1,844. That is lower than the Franklin County average of 1.880%.
What is the average home price in Fort Covington?
The median owner-occupied home value in Fort Covington, New York is $113,000, against $128,600 across Franklin County.
Is it cheaper to rent or buy in Fort Covington?
Median gross rent in Fort Covington is $820 a month, against $1,120 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 Fort Covington?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Fort Covington, New York at today's rate takes a household income of roughly $48,000 a year. That covers the full $1,120 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Fort Covington, 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.