The typical owner-occupied home in Olcott is worth about $200,000, 53% below the New York median of $423,800 and 40% below the national median of $332,700. Owners pay a median $3,978 a year in property taxes, about 1.99% of their home's value, higher than the New York rate of 1.55%. The median household earns $87,833 a year, so the median home costs 2.3 times the median income (4.9 times for New York). 88% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
Olcott at a glance
| Olcott | New York | U.S. | |
|---|---|---|---|
| Median home value | $200,000 | $423,800 | $332,700 |
| Median property tax paid per year | $3,978 | $6,582 | $3,119 |
| Property tax as a share of value | 1.99% | 1.55% | 0.94% |
| Median household income | $87,833 | $85,974 | $80,734 |
| Homes lived in by their owners | 88% | 54% | 65% |
| Owner homes with a mortgage | 66% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,455 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 21.0% | 22.5% | 21.0% |
| Median rent | – | $1,621 | $1,413 |
| Median year homes were built | 1985 | 1959 | 1980 |
| Vacant homes | 52.1% | 10.0% | 10.1% |
| Population | 527 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Olcott
At this week's average 30-year rate of 7.11%, buying the median Olcott home of $200,000 with 20% down costs about $1,491 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,824, 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 $63,914 for the 20%-down payment. That payment is 20% of the median Olcott household income of $87,833; at that income and 20% down, the 28% guideline points to a home of about $275,000.
| Down payment | $40,000 |
|---|---|
| Loan amount | $160,000 |
| Principal and interest | $1,076 |
| Property taxes (1.99% a year) | $332 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| PMI | $0 |
| Total per month | $1,491 |
Change the numbers in the calculator
| Down payment | $7,000 |
|---|---|
| Loan amount | $196,378 |
| Principal and interest | $1,321 |
| Property taxes (1.99% a year) | $332 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| FHA mortgage insurance | $88 |
| Total per month | $1,824 |
Change the numbers in the calculator
Questions about home buying in Olcott
What is the median home value in Olcott?
About $200,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Olcott?
Homeowners pay a median $3,978 a year, which is about 1.99% 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 Olcott?
For the median home with 20% down at 7.11%, the payment is about $1,491 a month. Keeping that under 28% of gross income takes about $63,914 a year.
More about Olcott
- Mortgage Refinance in Olcott
- Debt Relief in Olcott
- Home Equity Loans in Olcott
- 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