Total monthly cost of ownership
Cost to Own a Home in Wappingers Falls, New York
A $277,000 home here costs
$2,426per 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 $104,000 a year.
A standard mortgage calculator would have told you $1,510. The real number is $916 higher every month, 61% more than the payment most buyers budget for.
Compare Dutchess 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.
Wappingers Falls against Dutchess County and New York
| Measure | Wappingers Falls | Dutchess County |
|---|---|---|
| Median home value | $277,000 | $368,100 |
| Median property tax | $4,712 | $7,226 |
| Effective tax rate | 1.701% | 1.963% |
| Median gross rent | $1,490 | $1,522 |
| Population | 5,694 | 297,144 |
The weather behind that power bill
Wappingers Falls sits in Dutchess County, which averages a high of 82.5°F in its hottest month and a low of 15.8°F in its coldest, with 45.75" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 497 cooling and 6,427 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Dutchess County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Dutchess County
Full Dutchess County cost breakdown · Every county in New York
Talk to someone who works this market
These are Wappingers Falls 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 Wappingers Falls every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Wappingers Falls I already own here and may sell
Common questions
How much does it cost to own a home in Wappingers Falls?
A $277,000 home in Wappingers Falls, New York costs approximately $2,426 per month with 20% down at 7.24%. That is $1,510 principal and interest, $393 property tax, $61 homeowners insurance, $232 utilities and $231 set aside for maintenance.
What is the property tax rate in Wappingers Falls?
Wappingers Falls has an effective property tax rate of 1.701%, based on a median home value of $277,000 and median real estate taxes of $4,712. That is lower than the Dutchess County average of 1.963%.
What is the average home price in Wappingers Falls?
The median owner-occupied home value in Wappingers Falls, New York is $277,000, against $368,100 across Dutchess County.
Is it cheaper to rent or buy in Wappingers Falls?
Median gross rent in Wappingers Falls is $1,490 a month, against $2,426 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 Wappingers Falls?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Wappingers Falls, New York at today's rate takes a household income of roughly $104,000 a year. That covers the full $2,426 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wappingers Falls, 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.