The typical owner-occupied home in Chemung County is worth about $141,100, 67% below the New York median of $423,800 and 58% below the national median of $332,700. Owners pay a median $3,451 a year in property taxes, about 2.45% of their home's value, higher than the New York rate of 1.55%. The median household earns $63,716 a year, so the median home costs 2.2 times the median income (4.9 times for New York). 68% of occupied homes here are lived in by their owners, and 55% of those owners still have a mortgage.
Chemung County at a glance
| Chemung County | New York | U.S. | |
|---|---|---|---|
| Median home value | $141,100 | $423,800 | $332,700 |
| Median property tax paid per year | $3,451 | $6,582 | $3,119 |
| Property tax as a share of value | 2.45% | 1.55% | 0.94% |
| Median household income | $63,716 | $85,974 | $80,734 |
| Homes lived in by their owners | 68% | 54% | 65% |
| Owner homes with a mortgage | 55% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,332 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 18.5% | 22.5% | 21.0% |
| Median rent | $1,059 | $1,621 | $1,413 |
| Rent as a share of renters' income | 31.1% | 31.2% | 30.6% |
| Median year homes were built | 1955 | 1959 | 1980 |
| Vacant homes | 10.2% | 10.0% | 10.1% |
| Population | 82,147 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Chemung County
At this week's average 30-year rate of 7.11%, buying the median Chemung County home of $141,100 with 20% down costs about $1,106 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,341, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $47,409 for the 20%-down payment. That payment is 21% of the median Chemung County household income of $63,716; at that income and 20% down, the 28% guideline points to a home of about $190,000.
The median rent here is $1,059 a month, so owning the median home costs about $47 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $28,220 |
|---|---|
| Loan amount | $112,880 |
| Principal and interest | $759 |
| Property taxes (2.45% a year) | $288 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| PMI | $0 |
| Total per month | $1,106 |
Change the numbers in the calculator
| Down payment | $4,938 |
|---|---|
| Loan amount | $138,544 |
| Principal and interest | $932 |
| Property taxes (2.45% a year) | $288 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| FHA mortgage insurance | $62 |
| Total per month | $1,341 |
Change the numbers in the calculator
Questions about home buying in Chemung County
What is the median home value in Chemung County?
About $141,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chemung County?
Homeowners pay a median $3,451 a year, which is about 2.45% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Chemung County?
For the median home with 20% down at 7.11%, the payment is about $1,106 a month. Keeping that under 28% of gross income takes about $47,409 a year.
More about Chemung County
- Mortgage Refinance in Chemung County
- Debt Relief in Chemung County
- Home Equity Loans in Chemung County
- 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