The typical owner-occupied home in Clarence is worth about $338,800, 20% below the New York median of $423,800 and about the same as the national median of $332,700. Owners pay a median $6,143 a year in property taxes, about 1.81% of their home's value, higher than the New York rate of 1.55%. The median household earns $88,269 a year, so the median home costs 3.8 times the median income (4.9 times for New York). 59% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Clarence at a glance
| Clarence | New York | U.S. | |
|---|---|---|---|
| Median home value | $338,800 | $423,800 | $332,700 |
| Median property tax paid per year | $6,143 | $6,582 | $3,119 |
| Property tax as a share of value | 1.81% | 1.55% | 0.94% |
| Median household income | $88,269 | $85,974 | $80,734 |
| Homes lived in by their owners | 59% | 54% | 65% |
| Owner homes with a mortgage | 52% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,152 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 17.2% | 22.5% | 21.0% |
| Median rent | $650 | $1,621 | $1,413 |
| Rent as a share of renters' income | 26.7% | 31.2% | 30.6% |
| Median year homes were built | 1967 | 1959 | 1980 |
| Vacant homes | 8.7% | 10.0% | 10.1% |
| Population | 2,673 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Clarence
At this week's average 30-year rate of 7.11%, buying the median Clarence home of $338,800 with 20% down costs about $2,475 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,040, 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 $106,092 for the 20%-down payment. That payment is 34% of the median Clarence household income of $88,269; at that income and 20% down, the 28% guideline points to a home of about $282,000.
The median rent here is $650 a month, so owning the median home costs about $1,825 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $67,760 |
|---|---|
| Loan amount | $271,040 |
| Principal and interest | $1,823 |
| Property taxes (1.81% a year) | $511 |
| Homeowners insurance (our estimate, 0.5% a year) | $141 |
| PMI | $0 |
| Total per month | $2,475 |
Change the numbers in the calculator
| Down payment | $11,858 |
|---|---|
| Loan amount | $332,663 |
| Principal and interest | $2,238 |
| Property taxes (1.81% a year) | $511 |
| Homeowners insurance (our estimate, 0.5% a year) | $141 |
| FHA mortgage insurance | $150 |
| Total per month | $3,040 |
Change the numbers in the calculator
Questions about home buying in Clarence
What is the median home value in Clarence?
About $338,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Clarence?
Homeowners pay a median $6,143 a year, which is about 1.81% 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 Clarence?
For the median home with 20% down at 7.11%, the payment is about $2,475 a month. Keeping that under 28% of gross income takes about $106,092 a year.
More about Clarence
- Mortgage Refinance in Clarence
- Debt Relief in Clarence
- Home Equity Loans in Clarence
- 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