The typical owner-occupied home in Spring Valley is worth about $381,800, 10% below the New York median of $423,800 and 15% above the national median of $332,700. Owners pay a median $8,714 a year in property taxes, about 2.28% of their home's value, higher than the New York rate of 1.55%. The median household earns $57,196 a year, so the median home costs 6.7 times the median income (4.9 times for New York). 25% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Spring Valley at a glance
| Spring Valley | New York | U.S. | |
|---|---|---|---|
| Median home value | $381,800 | $423,800 | $332,700 |
| Median property tax paid per year | $8,714 | $6,582 | $3,119 |
| Property tax as a share of value | 2.28% | 1.55% | 0.94% |
| Median household income | $57,196 | $85,974 | $80,734 |
| Homes lived in by their owners | 25% | 54% | 65% |
| Owner homes with a mortgage | 68% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,947 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 34.1% | 22.5% | 21.0% |
| Median rent | $1,695 | $1,621 | $1,413 |
| Rent as a share of renters' income | 37.8% | 31.2% | 30.6% |
| Median year homes were built | 1972 | 1959 | 1980 |
| Vacant homes | 4.0% | 10.0% | 10.1% |
| Population | 33,192 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Spring Valley
At this week's average 30-year rate of 7.11%, buying the median Spring Valley home of $381,800 with 20% down costs about $2,939 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,575, 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 $125,966 for the 20%-down payment. That payment is 62% of the median Spring Valley household income of $57,196; at that income and 20% down, the 28% guideline points to a home of about $173,000.
The median rent here is $1,695 a month, so owning the median home costs about $1,244 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $76,360 |
|---|---|
| Loan amount | $305,440 |
| Principal and interest | $2,055 |
| Property taxes (2.28% a year) | $725 |
| Homeowners insurance (our estimate, 0.5% a year) | $159 |
| PMI | $0 |
| Total per month | $2,939 |
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| Down payment | $13,363 |
|---|---|
| Loan amount | $374,885 |
| Principal and interest | $2,522 |
| Property taxes (2.28% a year) | $725 |
| Homeowners insurance (our estimate, 0.5% a year) | $159 |
| FHA mortgage insurance | $169 |
| Total per month | $3,575 |
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Questions about home buying in Spring Valley
What is the median home value in Spring Valley?
About $381,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Spring Valley?
Homeowners pay a median $8,714 a year, which is about 2.28% 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 Spring Valley?
For the median home with 20% down at 7.11%, the payment is about $2,939 a month. Keeping that under 28% of gross income takes about $125,966 a year.
More about Spring Valley
- Mortgage Refinance in Spring Valley
- Debt Relief in Spring Valley
- Home Equity Loans in Spring Valley
- 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