The typical owner-occupied home in Schenectady is worth about $168,800, 60% below the New York median of $423,800 and 49% below the national median of $332,700. Owners pay a median $4,874 a year in property taxes, about 2.89% of their home's value, higher than the New York rate of 1.55%. The median household earns $58,399 a year, so the median home costs 2.9 times the median income (4.9 times for New York). 46% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Schenectady at a glance
| Schenectady | New York | U.S. | |
|---|---|---|---|
| Median home value | $168,800 | $423,800 | $332,700 |
| Median property tax paid per year | $4,874 | $6,582 | $3,119 |
| Property tax as a share of value | 2.89% | 1.55% | 0.94% |
| Median household income | $58,399 | $85,974 | $80,734 |
| Homes lived in by their owners | 46% | 54% | 65% |
| Owner homes with a mortgage | 61% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,596 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 21.1% | 22.5% | 21.0% |
| Median rent | $1,145 | $1,621 | $1,413 |
| Rent as a share of renters' income | 35.8% | 31.2% | 30.6% |
| Median year homes were built | 1941 | 1959 | 1980 |
| Vacant homes | 7.1% | 10.0% | 10.1% |
| People below the poverty line | 23.8% | 14.0% | 12.5% |
| Population | 68,847 | 19,852,366 | 334,922,499 |
Household budgets and debt in Schenectady
In Schenectady, the typical owner with a mortgage spends 21.1% of household income on housing and the typical renter spends 35.8%. Above 30% is generally considered cost-burdened, which leaves less room for other debts.
23.8% of residents live below the federal poverty line, compared with 14.0% in New York.
If debts are getting hard to manage, the usual options, from mildest to most serious, are: a budget and a call to your lenders to ask for a hardship plan; a debt management plan through a nonprofit credit counselor, which can lower interest rates; a debt consolidation loan or, for homeowners, a cash-out refinance or home equity loan; debt settlement, where a company negotiates to pay less than you owe; and bankruptcy.
Under the Federal Trade Commission's rules, debt settlement companies can't charge a fee until they have settled at least one of your debts. Settling can hurt your credit and forgiven debt may be taxable, so compare it with credit counseling first. Time limits for collectors to sue differ by state and by type of debt; check with your state attorney general or a lawyer before relying on one.
Homeowners can sometimes pay off high-interest debt with their home's equity. With the median Schenectady home worth $168,800 and 39% of owners mortgage-free, many owners have equity to draw on, but it turns unsecured debt into debt secured by your home.
Questions about debt relief in Schenectady
What is the median home value in Schenectady?
About $168,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Schenectady?
Homeowners pay a median $4,874 a year, which is about 2.89% of the median home value. Your bill depends on your home's assessed value and local rates.
How much of their income do Schenectady households spend on housing?
With a median household income of $58,399, owners with a mortgage spend a median 21.1% on housing and renters 35.8%.
More about Schenectady
- Mortgage Refinance in Schenectady
- Home Buying in Schenectady
- Home Equity Loans in Schenectady
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data