Total monthly cost of ownership
Cost to Own a Home in Penn Yan, New York
A $143,000 home here costs
$1,486per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $735. The real number is $751 higher every month — 102% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Penn Yan against Yates County and New York
| Measure | Penn Yan | Yates County |
|---|---|---|
| Median home value | $143,000 | $178,000 |
| Median property tax | $3,155 | $3,417 |
| Effective tax rate | 2.206% | 1.920% |
| Median gross rent | $680 | $802 |
| Population | 4,800 | 24,637 |
The weather behind that power bill
Penn Yan sits in Yates County, which averages a high of 81.4°F in its hottest month and a low of 17.5°F in its coldest, with 30.24" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 596 cooling and 6,505 heating degree days, which is what sets the $269 electricity line above.
See the full climate breakdown for Yates County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Yates County
Common questions
How much does it cost to own a home in Penn Yan?
A $143,000 home in Penn Yan, New York costs approximately $1,486 per month with 20% down at 6.66%. That is $735 principal and interest, $263 property tax, $31 homeowners insurance, $337 utilities and $119 set aside for maintenance.
What is the property tax rate in Penn Yan?
Penn Yan has an effective property tax rate of 2.206%, based on a median home value of $143,000 and median real estate taxes of $3,155. That is higher than the Yates County average of 1.920%.
What is the average home price in Penn Yan?
The median owner-occupied home value in Penn Yan, New York is $143,000, against $178,000 across Yates County.
Is it cheaper to rent or buy in Penn Yan?
Median gross rent in Penn Yan is $680 a month, against $1,486 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Penn Yan — 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.