Total monthly cost of ownership
Cost to Own a Home in Oakfield, New York
A $131,000 home here costs
$1,393per 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 $59,500 a year.
A standard mortgage calculator would have told you $714. The real number is $678 higher every month, 95% more than the payment most buyers budget for.
Compare Genesee County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Oakfield from a five-year rolling sample, and with about 1,683 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 Genesee 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.
Oakfield against Genesee County and New York
| Measure | Oakfield | Genesee County |
|---|---|---|
| Median home value | $131,200 | $157,800 |
| Median property tax | $3,710 | $3,958 |
| Effective tax rate | 2.828% | 2.508% |
| Median gross rent | $720 | $909 |
| Population | 1,683 | 57,943 |
The weather behind that power bill
Oakfield sits in Genesee County, which averages a high of 80.0°F in its hottest month and a low of 15.8°F in its coldest, with 36.57" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 525 cooling and 6,808 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Genesee County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Genesee County
Full Genesee County cost breakdown · Every county in New York
Talk to someone who works this market
These are Oakfield 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 Oakfield every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Oakfield I already own here and may sell
Common questions
How much does it cost to own a home in Oakfield?
A $131,000 home in Oakfield, New York costs approximately $1,393 per month with 20% down at 7.24%. That is $714 principal and interest, $309 property tax, $29 homeowners insurance, $232 utilities and $109 set aside for maintenance.
What is the property tax rate in Oakfield?
Oakfield has an effective property tax rate of 2.828%, based on a median home value of $131,200 and median real estate taxes of $3,710. That is higher than the Genesee County average of 2.508%.
What is the average home price in Oakfield?
The median owner-occupied home value in Oakfield, New York is $131,200, against $157,800 across Genesee County.
Is it cheaper to rent or buy in Oakfield?
Median gross rent in Oakfield is $720 a month, against $1,393 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 Oakfield?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Oakfield, New York at today's rate takes a household income of roughly $59,500 a year. That covers the full $1,393 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Oakfield, 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.