Total monthly cost of ownership
Cost to Own a Home in Lake Erie Beach, New York
A $149,000 home here costs
$1,513per 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 $65,000 a year.
A standard mortgage calculator would have told you $812. The real number is $700 higher every month, 86% more than the payment most buyers budget for.
Compare Erie County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lake Erie Beach from a five-year rolling sample, and with about 3,247 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 Erie 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.
Lake Erie Beach against Erie County and New York
| Measure | Lake Erie Beach | Erie County |
|---|---|---|
| Median home value | $149,300 | $217,400 |
| Median property tax | $3,749 | $4,525 |
| Effective tax rate | 2.511% | 2.081% |
| Median gross rent | — | $1,037 |
| Population | 3,247 | 950,044 |
The weather behind that power bill
Lake Erie Beach 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 $164 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 Lake Erie Beach 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 Lake Erie Beach every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lake Erie Beach I already own here and may sell
Common questions
How much does it cost to own a home in Lake Erie Beach?
A $149,000 home in Lake Erie Beach, New York costs approximately $1,513 per month with 20% down at 7.24%. That is $812 principal and interest, $312 property tax, $33 homeowners insurance, $232 utilities and $124 set aside for maintenance.
What is the property tax rate in Lake Erie Beach?
Lake Erie Beach has an effective property tax rate of 2.511%, based on a median home value of $149,300 and median real estate taxes of $3,749. That is higher than the Erie County average of 2.081%.
What is the average home price in Lake Erie Beach?
The median owner-occupied home value in Lake Erie Beach, New York is $149,300, against $217,400 across Erie County.
Is it cheaper to rent or buy in Lake Erie Beach?
Rent data is not published for Lake Erie Beach at this level of detail.
What salary do you need to buy a home in Lake Erie Beach?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lake Erie Beach, New York at today's rate takes a household income of roughly $65,000 a year. That covers the full $1,513 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lake Erie Beach, 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.