Total monthly cost of ownership
Cost to Own a Home in Little Valley, New York
A $89,000 home here costs
$1,047per 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 $45,000 a year.
A standard mortgage calculator would have told you $485. The real number is $562 higher every month, 116% more than the payment most buyers budget for.
Compare Cattaraugus County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Little Valley from a five-year rolling sample, and with about 1,096 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 Cattaraugus 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.
Little Valley against Cattaraugus County and New York
| Measure | Little Valley | Cattaraugus County |
|---|---|---|
| Median home value | $89,300 | $109,400 |
| Median property tax | $2,849 | $2,946 |
| Effective tax rate | 3.190% | 2.693% |
| Median gross rent | $699 | $759 |
| Population | 1,096 | 76,479 |
The weather behind that power bill
Little Valley sits in Cattaraugus County, which averages a high of 81.8°F in its hottest month and a low of 12.2°F in its coldest, with 47.16" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 338 cooling and 7,308 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Cattaraugus County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cattaraugus County
Full Cattaraugus County cost breakdown · Every county in New York
Talk to someone who works this market
These are Little Valley 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 Little Valley every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Little Valley I already own here and may sell
Common questions
How much does it cost to own a home in Little Valley?
A $89,000 home in Little Valley, New York costs approximately $1,047 per month with 20% down at 7.24%. That is $485 principal and interest, $237 property tax, $20 homeowners insurance, $232 utilities and $74 set aside for maintenance.
What is the property tax rate in Little Valley?
Little Valley has an effective property tax rate of 3.190%, based on a median home value of $89,300 and median real estate taxes of $2,849. That is higher than the Cattaraugus County average of 2.693%.
What is the average home price in Little Valley?
The median owner-occupied home value in Little Valley, New York is $89,300, against $109,400 across Cattaraugus County.
Is it cheaper to rent or buy in Little Valley?
Median gross rent in Little Valley is $699 a month, against $1,047 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 Little Valley?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Little Valley, New York at today's rate takes a household income of roughly $45,000 a year. That covers the full $1,047 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Little Valley, 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.