Total monthly cost of ownership
Cost to Own a Home in White Plains, New York
A $624,000 home here costs
$5,185per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $222,000 a year.
A standard mortgage calculator would have told you $3,456. The real number is $1,729 higher every month, 50% 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.
White Plains against Westchester County and New York
| Measure | White Plains | Westchester County |
|---|---|---|
| Median home value | $624,100 | $638,400 |
| Median property tax | $10,001 | $10,001 |
| Effective tax rate | 1.602% | 1.567% |
| Median gross rent | $2,151 | $1,876 |
| Population | 59,818 | 996,888 |
The weather behind that power bill
White Plains 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 $171 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 White Plains 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 White Plains every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in White Plains I already own here and may sell
Common questions
How much does it cost to own a home in White Plains?
A $624,000 home in White Plains, New York costs approximately $5,185 per month with 20% down at 7.4%. That is $3,456 principal and interest, $833 property tax, $137 homeowners insurance, $239 utilities and $520 set aside for maintenance.
What is the property tax rate in White Plains?
White Plains has an effective property tax rate of 1.602%, based on a median home value of $624,100 and median real estate taxes of $10,001. That is higher than the Westchester County average of 1.567%.
What is the average home price in White Plains?
The median owner-occupied home value in White Plains, New York is $624,100, against $638,400 across Westchester County.
Is it cheaper to rent or buy in White Plains?
Median gross rent in White Plains is $2,151 a month, against $5,185 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 White Plains?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in White Plains, New York at today's rate takes a household income of roughly $222,000 a year. That covers the full $5,185 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for White Plains, 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.