The typical owner-occupied home in Geneseo is worth about $226,200, 47% below the New York median of $423,800 and 32% below the national median of $332,700. Owners pay a median $5,985 a year in property taxes, about 2.65% of their home's value, higher than the New York rate of 1.55%. The median household earns $46,589 a year, so the median home costs 4.9 times the median income (4.9 times for New York). 43% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Geneseo at a glance
| Geneseo | New York | U.S. | |
|---|---|---|---|
| Median home value | $226,200 | $423,800 | $332,700 |
| Median property tax paid per year | $5,985 | $6,582 | $3,119 |
| Property tax as a share of value | 2.65% | 1.55% | 0.94% |
| Median household income | $46,589 | $85,974 | $80,734 |
| Homes lived in by their owners | 43% | 54% | 65% |
| Owner homes with a mortgage | 67% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,766 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 16.0% | 22.5% | 21.0% |
| Median rent | $971 | $1,621 | $1,413 |
| Rent as a share of renters' income | 41.8% | 31.2% | 30.6% |
| Median year homes were built | 1974 | 1959 | 1980 |
| Vacant homes | 9.7% | 10.0% | 10.1% |
| Population | 7,701 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Geneseo
At this week's average 30-year rate of 7.11%, buying the median Geneseo home of $226,200 with 20% down costs about $1,811 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,188, 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 $77,619 for the 20%-down payment. That payment is 47% of the median Geneseo household income of $46,589; at that income and 20% down, the 28% guideline points to a home of about $136,000.
The median rent here is $971 a month, so owning the median home costs about $840 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $45,240 |
|---|---|
| Loan amount | $180,960 |
| Principal and interest | $1,217 |
| Property taxes (2.65% a year) | $500 |
| Homeowners insurance (our estimate, 0.5% a year) | $94 |
| PMI | $0 |
| Total per month | $1,811 |
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| Down payment | $7,917 |
|---|---|
| Loan amount | $222,103 |
| Principal and interest | $1,494 |
| Property taxes (2.65% a year) | $500 |
| Homeowners insurance (our estimate, 0.5% a year) | $94 |
| FHA mortgage insurance | $100 |
| Total per month | $2,188 |
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Questions about home buying in Geneseo
What is the median home value in Geneseo?
About $226,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Geneseo?
Homeowners pay a median $5,985 a year, which is about 2.65% 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 Geneseo?
For the median home with 20% down at 7.11%, the payment is about $1,811 a month. Keeping that under 28% of gross income takes about $77,619 a year.
More about Geneseo
- Mortgage Refinance in Geneseo
- Debt Relief in Geneseo
- Home Equity Loans in Geneseo
- 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