Total monthly cost of ownership
Cost to Own a Home in Houghton, New York
A $153,000 home here costs
$1,650per 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 $863 higher every month — 110% 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.
Houghton against Allegany County and New York
| Measure | Houghton | Allegany County |
|---|---|---|
| Median home value | $153,300 | $97,900 |
| Median property tax | $4,387 | $2,881 |
| Effective tax rate | 2.862% | 2.943% |
| Median gross rent | $975 | $754 |
| Population | 1,685 | 47,027 |
The weather behind that power bill
Houghton 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 $269 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
Common questions
How much does it cost to own a home in Houghton?
A $153,000 home in Houghton, New York costs approximately $1,650 per month with 20% down at 6.66%. That is $787 principal and interest, $365 property tax, $34 homeowners insurance, $337 utilities and $128 set aside for maintenance.
What is the property tax rate in Houghton?
Houghton has an effective property tax rate of 2.862%, based on a median home value of $153,300 and median real estate taxes of $4,387. That is lower than the Allegany County average of 2.943%.
What is the average home price in Houghton?
The median owner-occupied home value in Houghton, New York is $153,300, against $97,900 across Allegany County.
Is it cheaper to rent or buy in Houghton?
Median gross rent in Houghton is $975 a month, against $1,650 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 Houghton — 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.