Total monthly cost of ownership
Cost to Own a Home in Larchmont, New York
A $1,385,000 home here costs
$9,750per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $7,120. The real number is $2,629 higher every month — 37% 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.
Larchmont against Westchester County and New York
| Measure | Larchmont | Westchester County |
|---|---|---|
| Median home value | $1,384,700 | $638,400 |
| Median property tax | $10,001 | $10,001 |
| Effective tax rate | 0.722% | 1.567% |
| Median gross rent | $1,990 | $1,876 |
| Population | 6,542 | 996,888 |
The weather behind that power bill
Larchmont sits in Westchester County, which averages a high of 83.2°F in its hottest month and a low of 22.4°F in its coldest, with 47.75" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 787 cooling and 5,492 heating degree days, which is what sets the $269 electricity line above.
See the full climate breakdown for Westchester County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Westchester County
Full Westchester County cost breakdown · Every county in New York
Common questions
How much does it cost to own a home in Larchmont?
A $1,385,000 home in Larchmont, New York costs approximately $9,750 per month with 20% down at 6.66%. That is $7,120 principal and interest, $833 property tax, $305 homeowners insurance, $337 utilities and $1,154 set aside for maintenance.
What is the property tax rate in Larchmont?
Larchmont has an effective property tax rate of 0.722%, based on a median home value of $1,384,700 and median real estate taxes of $10,001. That is lower than the Westchester County average of 1.567%.
What is the average home price in Larchmont?
The median owner-occupied home value in Larchmont, New York is $1,384,700, against $638,400 across Westchester County.
Is it cheaper to rent or buy in Larchmont?
Median gross rent in Larchmont is $1,990 a month, against $9,750 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 Larchmont — 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.