The typical owner-occupied home in Chester is worth about $330,200, 22% below the New York median of $423,800 and about the same as the national median of $332,700. Owners pay a median $6,940 a year in property taxes, about 2.10% of their home's value, higher than the New York rate of 1.55%. The median household earns $100,514 a year, so the median home costs 3.3 times the median income (4.9 times for New York). 50% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Chester at a glance
| Chester | New York | U.S. | |
|---|---|---|---|
| Median home value | $330,200 | $423,800 | $332,700 |
| Median property tax paid per year | $6,940 | $6,582 | $3,119 |
| Property tax as a share of value | 2.10% | 1.55% | 0.94% |
| Median household income | $100,514 | $85,974 | $80,734 |
| Homes lived in by their owners | 50% | 54% | 65% |
| Owner homes with a mortgage | 71% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,556 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 22.0% | 22.5% | 21.0% |
| Median rent | $2,010 | $1,621 | $1,413 |
| Rent as a share of renters' income | 25.2% | 31.2% | 30.6% |
| Median year homes were built | 1981 | 1959 | 1980 |
| Vacant homes | 9.5% | 10.0% | 10.1% |
| Population | 4,033 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Chester
At this week's average 30-year rate of 7.11%, buying the median Chester home of $330,200 with 20% down costs about $2,492 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,043, 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 $106,819 for the 20%-down payment. That payment is 30% of the median Chester household income of $100,514; at that income and 20% down, the 28% guideline points to a home of about $311,000.
The median rent here is $2,010 a month, so owning the median home costs about $482 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $66,040 |
|---|---|
| Loan amount | $264,160 |
| Principal and interest | $1,777 |
| Property taxes (2.10% a year) | $578 |
| Homeowners insurance (our estimate, 0.5% a year) | $138 |
| PMI | $0 |
| Total per month | $2,492 |
Change the numbers in the calculator
| Down payment | $11,557 |
|---|---|
| Loan amount | $324,219 |
| Principal and interest | $2,181 |
| Property taxes (2.10% a year) | $578 |
| Homeowners insurance (our estimate, 0.5% a year) | $138 |
| FHA mortgage insurance | $146 |
| Total per month | $3,043 |
Change the numbers in the calculator
Questions about home buying in Chester
What is the median home value in Chester?
About $330,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chester?
Homeowners pay a median $6,940 a year, which is about 2.10% 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 Chester?
For the median home with 20% down at 7.11%, the payment is about $2,492 a month. Keeping that under 28% of gross income takes about $106,819 a year.
More about Chester
- Mortgage Refinance in Chester
- Debt Relief in Chester
- Home Equity Loans in Chester
- 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