Total monthly cost of ownership
Cost to Own a Home in Morrisville, New York
A $161,000 home here costs
$1,659per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $828. The real number is $831 higher every month — 100% 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.
Morrisville against Madison County and New York
| Measure | Morrisville | Madison County |
|---|---|---|
| Median home value | $161,000 | $176,800 |
| Median property tax | $3,898 | $4,058 |
| Effective tax rate | 2.421% | 2.295% |
| Median gross rent | $967 | $891 |
| Population | 1,530 | 67,572 |
The weather behind that power bill
Morrisville sits in Madison County, which averages a high of 77.2°F in its hottest month and a low of 11.3°F in its coldest, with 48.14" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 284 cooling and 7,805 heating degree days, which is what sets the $269 electricity line above.
See the full climate breakdown for Madison County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
Full Madison County cost breakdown · Every county in New York
Common questions
How much does it cost to own a home in Morrisville?
A $161,000 home in Morrisville, New York costs approximately $1,659 per month with 20% down at 6.66%. That is $828 principal and interest, $325 property tax, $35 homeowners insurance, $337 utilities and $134 set aside for maintenance.
What is the property tax rate in Morrisville?
Morrisville has an effective property tax rate of 2.421%, based on a median home value of $161,000 and median real estate taxes of $3,898. That is higher than the Madison County average of 2.295%.
What is the average home price in Morrisville?
The median owner-occupied home value in Morrisville, New York is $161,000, against $176,800 across Madison County.
Is it cheaper to rent or buy in Morrisville?
Median gross rent in Morrisville is $967 a month, against $1,659 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 Morrisville — 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.