The typical owner-occupied home in Romulus is worth about $89,200, 79% below the New York median of $423,800 and 73% below the national median of $332,700. Owners pay a median $1,987 a year in property taxes, about 2.23% of their home's value, higher than the New York rate of 1.55%. The median household earns $45,417 a year, so the median home costs 2.0 times the median income (4.9 times for New York). 70% of occupied homes here are lived in by their owners, and 33% of those owners still have a mortgage.
Romulus at a glance
| Romulus | New York | U.S. | |
|---|---|---|---|
| Median home value | $89,200 | $423,800 | $332,700 |
| Median property tax paid per year | $1,987 | $6,582 | $3,119 |
| Property tax as a share of value | 2.23% | 1.55% | 0.94% |
| Median household income | $45,417 | $85,974 | $80,734 |
| Homes lived in by their owners | 70% | 54% | 65% |
| Owner homes with a mortgage | 33% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,583 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 28.3% | 22.5% | 21.0% |
| Median rent | – | $1,621 | $1,413 |
| Median year homes were built | 1956 | 1959 | 1980 |
| Vacant homes | 18.3% | 10.0% | 10.1% |
| Population | 265 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Romulus
At this week's average 30-year rate of 7.11%, buying the median Romulus home of $89,200 with 20% down costs about $683 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $832, 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 $29,270 for the 20%-down payment. That payment is 18% of the median Romulus household income of $45,417; at that income and 20% down, the 28% guideline points to a home of about $138,000.
| Down payment | $17,840 |
|---|---|
| Loan amount | $71,360 |
| Principal and interest | $480 |
| Property taxes (2.23% a year) | $166 |
| Homeowners insurance (our estimate, 0.5% a year) | $37 |
| PMI | $0 |
| Total per month | $683 |
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| Down payment | $3,122 |
|---|---|
| Loan amount | $87,584 |
| Principal and interest | $589 |
| Property taxes (2.23% a year) | $166 |
| Homeowners insurance (our estimate, 0.5% a year) | $37 |
| FHA mortgage insurance | $39 |
| Total per month | $832 |
Change the numbers in the calculator
Questions about home buying in Romulus
What is the median home value in Romulus?
About $89,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Romulus?
Homeowners pay a median $1,987 a year, which is about 2.23% 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 Romulus?
For the median home with 20% down at 7.11%, the payment is about $683 a month. Keeping that under 28% of gross income takes about $29,270 a year.
More about Romulus
- Mortgage Refinance in Romulus
- Debt Relief in Romulus
- Home Equity Loans in Romulus
- 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