Total monthly cost of ownership
Cost to Own a Home in Morrisville, New York
A $161,000 home here costs
$1,604per 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 $68,500 a year.
A standard mortgage calculator would have told you $878. The real number is $726 higher every month, 83% more than the payment most buyers budget for.
Compare Madison County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Morrisville from a five-year rolling sample, and with about 1,530 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 Madison 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.
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 $164 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
Talk to someone who works this market
These are Morrisville 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 Morrisville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Morrisville I already own here and may sell
Common questions
How much does it cost to own a home in Morrisville?
A $161,000 home in Morrisville, New York costs approximately $1,604 per month with 20% down at 7.24%. That is $878 principal and interest, $325 property tax, $35 homeowners insurance, $232 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 $1,604 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 Morrisville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Morrisville, New York at today's rate takes a household income of roughly $68,500 a year. That covers the full $1,604 monthly cost, not just the mortgage payment.
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.