The typical owner-occupied home in Cold Spring is worth about $600,100, 42% above the New York median of $423,800 and 80% above the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.67% of their home's value, higher than the New York rate of 1.55%. The median household earns $117,292 a year, so the median home costs 5.1 times the median income (4.9 times for New York). 65% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Cold Spring at a glance
| Cold Spring | New York | U.S. | |
|---|---|---|---|
| Median home value | $600,100 | $423,800 | $332,700 |
| Median property tax paid per year | $10,001 | $6,582 | $3,119 |
| Property tax as a share of value | 1.67% | 1.55% | 0.94% |
| Median household income | $117,292 | $85,974 | $80,734 |
| Homes lived in by their owners | 65% | 54% | 65% |
| Owner homes with a mortgage | 57% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $3,404 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 20.6% | 22.5% | 21.0% |
| Median rent | $1,777 | $1,621 | $1,413 |
| Rent as a share of renters' income | 32.6% | 31.2% | 30.6% |
| Median year homes were built | 1958 | 1959 | 1980 |
| Vacant homes | 11.6% | 10.0% | 10.1% |
| Population | 1,863 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Cold Spring
At this week's average 30-year rate of 7.11%, buying the median Cold Spring home of $600,100 with 20% down costs about $4,315 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,314, 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 $184,916 for the 20%-down payment. That payment is 44% of the median Cold Spring household income of $117,292; at that income and 20% down, the 28% guideline points to a home of about $381,000.
The median rent here is $1,777 a month, so owning the median home costs about $2,538 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $120,020 |
|---|---|
| Loan amount | $480,080 |
| Principal and interest | $3,230 |
| Property taxes (1.67% a year) | $835 |
| Homeowners insurance (our estimate, 0.5% a year) | $250 |
| PMI | $0 |
| Total per month | $4,315 |
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| Down payment | $21,004 |
|---|---|
| Loan amount | $589,231 |
| Principal and interest | $3,964 |
| Property taxes (1.67% a year) | $835 |
| Homeowners insurance (our estimate, 0.5% a year) | $250 |
| FHA mortgage insurance | $265 |
| Total per month | $5,314 |
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Questions about home buying in Cold Spring
What is the median home value in Cold Spring?
About $600,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cold Spring?
Homeowners pay a median $10,001 a year, which is about 1.67% 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 Cold Spring?
For the median home with 20% down at 7.11%, the payment is about $4,315 a month. Keeping that under 28% of gross income takes about $184,916 a year.
More about Cold Spring
- Mortgage Refinance in Cold Spring
- Debt Relief in Cold Spring
- Home Equity Loans in Cold Spring
- 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