Total monthly cost of ownership
Cost to Own a Home in Pelham, New York
A $892,000 home here costs
$6,868per 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 $294,500 a year.
A standard mortgage calculator would have told you $4,863. The real number is $2,004 higher every month, 41% more than the payment most buyers budget for.
Compare Westchester 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.
Pelham against Westchester County and New York
| Measure | Pelham | Westchester County |
|---|---|---|
| Median home value | $891,900 | $638,400 |
| Median property tax | $10,001 | $10,001 |
| Effective tax rate | 1.121% | 1.567% |
| Median gross rent | $2,288 | $1,876 |
| Population | 7,247 | 996,888 |
The weather behind that power bill
Pelham sits in Westchester County, which averages a high of 83.2°F in its hottest month and a low of 22.4°F in its coldest, with 47.75" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 787 cooling and 5,492 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Westchester County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Westchester County
Full Westchester County cost breakdown · Every county in New York
Talk to someone who works this market
These are Pelham 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 Pelham every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Pelham I already own here and may sell
Common questions
How much does it cost to own a home in Pelham?
A $892,000 home in Pelham, New York costs approximately $6,868 per month with 20% down at 7.24%. That is $4,863 principal and interest, $833 property tax, $196 homeowners insurance, $232 utilities and $743 set aside for maintenance.
What is the property tax rate in Pelham?
Pelham has an effective property tax rate of 1.121%, based on a median home value of $891,900 and median real estate taxes of $10,001. That is lower than the Westchester County average of 1.567%.
What is the average home price in Pelham?
The median owner-occupied home value in Pelham, New York is $891,900, against $638,400 across Westchester County.
Is it cheaper to rent or buy in Pelham?
Median gross rent in Pelham is $2,288 a month, against $6,868 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 Pelham?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Pelham, New York at today's rate takes a household income of roughly $294,500 a year. That covers the full $6,868 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Pelham, 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.