The typical owner-occupied home in Tappan is worth about $644,200, 52% above the New York median of $423,800 and 94% above the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.55% of their home's value, close to the New York rate of 1.55%. The median household earns $174,286 a year, so the median home costs 3.7 times the median income (4.9 times for New York). 94% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
Tappan at a glance
| Tappan | New York | U.S. | |
|---|---|---|---|
| Median home value | $644,200 | $423,800 | $332,700 |
| Median property tax paid per year | $10,001 | $6,582 | $3,119 |
| Property tax as a share of value | 1.55% | 1.55% | 0.94% |
| Median household income | $174,286 | $85,974 | $80,734 |
| Homes lived in by their owners | 94% | 54% | 65% |
| Owner homes with a mortgage | 66% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $3,823 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 26.9% | 22.5% | 21.0% |
| Median rent | $2,299 | $1,621 | $1,413 |
| Rent as a share of renters' income | 42.2% | 31.2% | 30.6% |
| Median year homes were built | 1965 | 1959 | 1980 |
| Vacant homes | 0.0% | 10.0% | 10.1% |
| Population | 6,687 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Tappan
At this week's average 30-year rate of 7.11%, buying the median Tappan home of $644,200 with 20% down costs about $4,567 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,641, 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 $195,744 for the 20%-down payment. That payment is 31% of the median Tappan household income of $174,286; at that income and 20% down, the 28% guideline points to a home of about $574,000.
The median rent here is $2,299 a month, so owning the median home costs about $2,268 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $128,840 |
|---|---|
| Loan amount | $515,360 |
| Principal and interest | $3,467 |
| Property taxes (1.55% a year) | $832 |
| Homeowners insurance (our estimate, 0.5% a year) | $268 |
| PMI | $0 |
| Total per month | $4,567 |
Change the numbers in the calculator
| Down payment | $22,547 |
|---|---|
| Loan amount | $632,532 |
| Principal and interest | $4,255 |
| Property taxes (1.55% a year) | $832 |
| Homeowners insurance (our estimate, 0.5% a year) | $268 |
| FHA mortgage insurance | $285 |
| Total per month | $5,641 |
Change the numbers in the calculator
Questions about home buying in Tappan
What is the median home value in Tappan?
About $644,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Tappan?
Homeowners pay a median $10,001 a year, which is about 1.55% 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 Tappan?
For the median home with 20% down at 7.11%, the payment is about $4,567 a month. Keeping that under 28% of gross income takes about $195,744 a year.
More about Tappan
- Mortgage Refinance in Tappan
- Debt Relief in Tappan
- Home Equity Loans in Tappan
- 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