Total monthly cost of ownership
Cost to Own a Home in Owego, New York
A $143,000 home here costs
$1,514per 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 $65,000 a year.
A standard mortgage calculator would have told you $780. The real number is $734 higher every month, 94% more than the payment most buyers budget for.
Compare Tioga County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Owego from a five-year rolling sample, and with about 3,823 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 Tioga 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.
Owego against Tioga County and New York
| Measure | Owego | Tioga County |
|---|---|---|
| Median home value | $143,000 | $153,200 |
| Median property tax | $4,225 | $3,750 |
| Effective tax rate | 2.955% | 2.448% |
| Median gross rent | $918 | $914 |
| Population | 3,823 | 48,106 |
The weather behind that power bill
Owego sits in Tioga County, which averages a high of 78.4°F in its hottest month and a low of 15.5°F in its coldest, with 42.04" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 383 cooling and 7,162 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Tioga County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Tioga County
Talk to someone who works this market
These are Owego 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 Owego every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Owego?
A $143,000 home in Owego, New York costs approximately $1,514 per month with 20% down at 7.24%. That is $780 principal and interest, $352 property tax, $31 homeowners insurance, $232 utilities and $119 set aside for maintenance.
What is the property tax rate in Owego?
Owego has an effective property tax rate of 2.955%, based on a median home value of $143,000 and median real estate taxes of $4,225. That is higher than the Tioga County average of 2.448%.
What is the average home price in Owego?
The median owner-occupied home value in Owego, New York is $143,000, against $153,200 across Tioga County.
Is it cheaper to rent or buy in Owego?
Median gross rent in Owego is $918 a month, against $1,514 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 Owego?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Owego, New York at today's rate takes a household income of roughly $65,000 a year. That covers the full $1,514 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Owego, 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.