Total monthly cost of ownership
Cost to Own a Home in Penn Estates, Pennsylvania
A $233,000 home here costs
$2,167per 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 $93,000 a year.
A standard mortgage calculator would have told you $1,270. The real number is $896 higher every month, 71% more than the payment most buyers budget for.
Compare Monroe County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Penn Estates from a five-year rolling sample, and with about 3,691 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 Monroe 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.
Penn Estates against Monroe County and Pennsylvania
| Measure | Penn Estates | Monroe County |
|---|---|---|
| Median home value | $233,200 | $241,200 |
| Median property tax | $4,544 | $4,435 |
| Effective tax rate | 1.949% | 1.839% |
| Median gross rent | $2,188 | $1,347 |
| Population | 3,691 | 167,784 |
The weather behind that power bill
Penn Estates sits in Monroe County, which averages a high of 77.7°F in its hottest month and a low of 15.1°F in its coldest, with 50.22" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 289 cooling and 7,247 heating degree days, which is what sets the $178 electricity line above.
See the full climate breakdown for Monroe County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Monroe County
Full Monroe County cost breakdown · Every county in Pennsylvania
Talk to someone who works this market
These are Penn Estates 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 Penn Estates every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Penn Estates I already own here and may sell
Common questions
How much does it cost to own a home in Penn Estates?
A $233,000 home in Penn Estates, Pennsylvania costs approximately $2,167 per month with 20% down at 7.24%. That is $1,270 principal and interest, $378 property tax, $78 homeowners insurance, $246 utilities and $194 set aside for maintenance.
What is the property tax rate in Penn Estates?
Penn Estates has an effective property tax rate of 1.949%, based on a median home value of $233,200 and median real estate taxes of $4,544. That is higher than the Monroe County average of 1.839%.
What is the average home price in Penn Estates?
The median owner-occupied home value in Penn Estates, Pennsylvania is $233,200, against $241,200 across Monroe County.
Is it cheaper to rent or buy in Penn Estates?
Median gross rent in Penn Estates is $2,188 a month, against $2,167 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Penn Estates?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Penn Estates, Pennsylvania at today's rate takes a household income of roughly $93,000 a year. That covers the full $2,167 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Penn Estates, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Pennsylvania.
- 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.