The typical owner-occupied home in Millbrook is worth about $485,200, 14% above the New York median of $423,800 and 46% above the national median of $332,700. Owners pay a median $6,797 a year in property taxes, about 1.40% of their home's value, lower than the New York rate of 1.55%. The median household earns $74,265 a year, so the median home costs 6.5 times the median income (4.9 times for New York). 55% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Millbrook at a glance
| Millbrook | New York | U.S. | |
|---|---|---|---|
| Median home value | $485,200 | $423,800 | $332,700 |
| Median property tax paid per year | $6,797 | $6,582 | $3,119 |
| Property tax as a share of value | 1.40% | 1.55% | 0.94% |
| Median household income | $74,265 | $85,974 | $80,734 |
| Homes lived in by their owners | 55% | 54% | 65% |
| Owner homes with a mortgage | 63% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,275 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 21.1% | 22.5% | 21.0% |
| Median rent | $1,093 | $1,621 | $1,413 |
| Rent as a share of renters' income | 27.2% | 31.2% | 30.6% |
| Median year homes were built | 1966 | 1959 | 1980 |
| Vacant homes | 16.9% | 10.0% | 10.1% |
| Population | 1,346 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Millbrook
At this week's average 30-year rate of 7.11%, buying the median Millbrook home of $485,200 with 20% down costs about $3,379 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,188, 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 $144,832 for the 20%-down payment. That payment is 55% of the median Millbrook household income of $74,265; at that income and 20% down, the 28% guideline points to a home of about $249,000.
The median rent here is $1,093 a month, so owning the median home costs about $2,286 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $97,040 |
|---|---|
| Loan amount | $388,160 |
| Principal and interest | $2,611 |
| Property taxes (1.40% a year) | $566 |
| Homeowners insurance (our estimate, 0.5% a year) | $202 |
| PMI | $0 |
| Total per month | $3,379 |
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| Down payment | $16,982 |
|---|---|
| Loan amount | $476,412 |
| Principal and interest | $3,205 |
| Property taxes (1.40% a year) | $566 |
| Homeowners insurance (our estimate, 0.5% a year) | $202 |
| FHA mortgage insurance | $215 |
| Total per month | $4,188 |
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Questions about home buying in Millbrook
What is the median home value in Millbrook?
About $485,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Millbrook?
Homeowners pay a median $6,797 a year, which is about 1.40% 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 Millbrook?
For the median home with 20% down at 7.11%, the payment is about $3,379 a month. Keeping that under 28% of gross income takes about $144,832 a year.
More about Millbrook
- Mortgage Refinance in Millbrook
- Debt Relief in Millbrook
- Home Equity Loans in Millbrook
- 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