The typical owner-occupied home in Monsey is worth about $921,000, 2.2 times the New York median of $423,800 and 2.8 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.09% of their home's value, lower than the New York rate of 1.55%. The median household earns $47,629 a year, so the median home costs 19.3 times the median income (4.9 times for New York). 35% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Monsey at a glance
| Monsey | New York | U.S. | |
|---|---|---|---|
| Median home value | $921,000 | $423,800 | $332,700 |
| Median property tax paid per year | $10,001 | $6,582 | $3,119 |
| Property tax as a share of value | 1.09% | 1.55% | 0.94% |
| Median household income | $47,629 | $85,974 | $80,734 |
| Homes lived in by their owners | 35% | 54% | 65% |
| Owner homes with a mortgage | 63% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 51.0% | 22.5% | 21.0% |
| Median rent | $1,892 | $1,621 | $1,413 |
| Rent as a share of renters' income | 51.0% | 31.2% | 30.6% |
| Median year homes were built | 2003 | 1959 | 1980 |
| Vacant homes | 6.3% | 10.0% | 10.1% |
| Population | 28,160 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Monsey
At this week's average 30-year rate of 7.11%, buying the median Monsey home of $921,000 with 20% down costs about $6,177 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,859, 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 $264,721 for the 20%-down payment. That payment is 156% of the median Monsey household income of $47,629; at that income and 20% down, the 28% guideline points to a home of about $166,000.
The median rent here is $1,892 a month, so owning the median home costs about $4,285 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $184,200 |
|---|---|
| Loan amount | $736,800 |
| Principal and interest | $4,956 |
| Property taxes (1.09% a year) | $837 |
| Homeowners insurance (our estimate, 0.5% a year) | $384 |
| PMI | $0 |
| Total per month | $6,177 |
Change the numbers in the calculator
| Down payment | $32,235 |
|---|---|
| Loan amount | $904,318 |
| Principal and interest | $6,083 |
| Property taxes (1.09% a year) | $837 |
| Homeowners insurance (our estimate, 0.5% a year) | $384 |
| FHA mortgage insurance | $555 |
| Total per month | $7,859 |
Change the numbers in the calculator
Questions about home buying in Monsey
What is the median home value in Monsey?
About $921,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Monsey?
Homeowners pay a median $10,001 a year, which is about 1.09% 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 Monsey?
For the median home with 20% down at 7.11%, the payment is about $6,177 a month. Keeping that under 28% of gross income takes about $264,721 a year.
More about Monsey
- Mortgage Refinance in Monsey
- Debt Relief in Monsey
- Home Equity Loans in Monsey
- 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