Total monthly cost of ownership
Cost to Own a Home in North Tonawanda, New York
A $185,000 home here costs
$1,812per 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 $77,500 a year.
A standard mortgage calculator would have told you $1,009. The real number is $803 higher every month, 80% more than the payment most buyers budget for.
Compare Niagara County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
North Tonawanda against Niagara County and New York
| Measure | North Tonawanda | Niagara County |
|---|---|---|
| Median home value | $184,900 | $177,400 |
| Median property tax | $4,520 | $4,052 |
| Effective tax rate | 2.445% | 2.284% |
| Median gross rent | $914 | $870 |
| Population | 30,338 | 211,341 |
The weather behind that power bill
North Tonawanda sits in Niagara County, which averages a high of 80.7°F in its hottest month and a low of 16.8°F in its coldest, with 32.97" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 529 cooling and 6,792 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Niagara County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Niagara County
Full Niagara County cost breakdown · Every county in New York
Talk to someone who works this market
These are North Tonawanda 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 North Tonawanda every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in North Tonawanda I already own here and may sell
Common questions
How much does it cost to own a home in North Tonawanda?
A $185,000 home in North Tonawanda, New York costs approximately $1,812 per month with 20% down at 7.24%. That is $1,009 principal and interest, $377 property tax, $41 homeowners insurance, $232 utilities and $154 set aside for maintenance.
What is the property tax rate in North Tonawanda?
North Tonawanda has an effective property tax rate of 2.445%, based on a median home value of $184,900 and median real estate taxes of $4,520. That is higher than the Niagara County average of 2.284%.
What is the average home price in North Tonawanda?
The median owner-occupied home value in North Tonawanda, New York is $184,900, against $177,400 across Niagara County.
Is it cheaper to rent or buy in North Tonawanda?
Median gross rent in North Tonawanda is $914 a month, against $1,812 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 North Tonawanda?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in North Tonawanda, New York at today's rate takes a household income of roughly $77,500 a year. That covers the full $1,812 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for North Tonawanda, 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.