Total monthly cost of ownership
Cost to Own a Home in Montour Falls, New York
A $116,000 home here costs
$1,251per 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 $53,500 a year.
A standard mortgage calculator would have told you $632. The real number is $618 higher every month, 98% more than the payment most buyers budget for.
Compare Schuyler County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Montour Falls from a five-year rolling sample, and with about 1,666 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 Schuyler 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.
Montour Falls against Schuyler County and New York
| Measure | Montour Falls | Schuyler County |
|---|---|---|
| Median home value | $115,500 | $163,300 |
| Median property tax | $3,162 | $3,165 |
| Effective tax rate | 2.738% | 1.938% |
| Median gross rent | $683 | $858 |
| Population | 1,666 | 17,749 |
The weather behind that power bill
Montour Falls sits in Schuyler County, which averages a high of 81.4°F in its hottest month and a low of 17.5°F in its coldest, with 30.24" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 596 cooling and 6,505 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Schuyler County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Schuyler County
Full Schuyler County cost breakdown · Every county in New York
Talk to someone who works this market
These are Montour Falls 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 Montour Falls every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Montour Falls I already own here and may sell
Common questions
How much does it cost to own a home in Montour Falls?
A $116,000 home in Montour Falls, New York costs approximately $1,251 per month with 20% down at 7.24%. That is $632 principal and interest, $265 property tax, $26 homeowners insurance, $232 utilities and $97 set aside for maintenance.
What is the property tax rate in Montour Falls?
Montour Falls has an effective property tax rate of 2.738%, based on a median home value of $115,500 and median real estate taxes of $3,162. That is higher than the Schuyler County average of 1.938%.
What is the average home price in Montour Falls?
The median owner-occupied home value in Montour Falls, New York is $115,500, against $163,300 across Schuyler County.
Is it cheaper to rent or buy in Montour Falls?
Median gross rent in Montour Falls is $683 a month, against $1,251 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 Montour Falls?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Montour Falls, New York at today's rate takes a household income of roughly $53,500 a year. That covers the full $1,251 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Montour Falls, 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.