Total monthly cost of ownership
Cost to Own a Home in Groton, New York
A $153,000 home here costs
$1,606per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $787. The real number is $820 higher every month — 104% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Groton against Tompkins County and New York
| Measure | Groton | Tompkins County |
|---|---|---|
| Median home value | $153,000 | $271,500 |
| Median property tax | $3,860 | $6,374 |
| Effective tax rate | 2.523% | 2.348% |
| Median gross rent | $831 | $1,374 |
| Population | 1,974 | 102,879 |
The weather behind that power bill
Groton sits in Tompkins County, which averages a high of 79.9°F in its hottest month and a low of 14.6°F in its coldest, with 38.29" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 416 cooling and 7,207 heating degree days, which is what sets the $269 electricity line above.
See the full climate breakdown for Tompkins County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Tompkins County
Full Tompkins County cost breakdown · Every county in New York
Common questions
How much does it cost to own a home in Groton?
A $153,000 home in Groton, New York costs approximately $1,606 per month with 20% down at 6.66%. That is $787 principal and interest, $322 property tax, $34 homeowners insurance, $337 utilities and $128 set aside for maintenance.
What is the property tax rate in Groton?
Groton has an effective property tax rate of 2.523%, based on a median home value of $153,000 and median real estate taxes of $3,860. That is higher than the Tompkins County average of 2.348%.
What is the average home price in Groton?
The median owner-occupied home value in Groton, New York is $153,000, against $271,500 across Tompkins County.
Is it cheaper to rent or buy in Groton?
Median gross rent in Groton is $831 a month, against $1,606 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Groton — 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.