The typical owner-occupied home in Cranberry Lake is worth about $292,900, 31% below the New York median of $423,800 and 12% below the national median of $332,700. Owners pay a median $4,000 a year in property taxes, about 1.37% of their home's value, lower than the New York rate of 1.55%. The median household earns $89,063 a year, so the median home costs 3.3 times the median income (4.9 times for New York). 90% of occupied homes here are lived in by their owners, and 18% of those owners still have a mortgage.
Cranberry Lake at a glance
| Cranberry Lake | New York | U.S. | |
|---|---|---|---|
| Median home value | $292,900 | $423,800 | $332,700 |
| Median property tax paid per year | $4,000 | $6,582 | $3,119 |
| Property tax as a share of value | 1.37% | 1.55% | 0.94% |
| Median household income | $89,063 | $85,974 | $80,734 |
| Homes lived in by their owners | 90% | 54% | 65% |
| Owner homes with a mortgage | 18% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,531 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 17.5% | 22.5% | 21.0% |
| Median rent | – | $1,621 | $1,413 |
| Median year homes were built | 1962 | 1959 | 1980 |
| Vacant homes | 70.0% | 10.0% | 10.1% |
| Population | 219 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Cranberry Lake
At this week's average 30-year rate of 7.11%, buying the median Cranberry Lake home of $292,900 with 20% down costs about $2,033 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,521, 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 $87,117 for the 20%-down payment. That payment is 27% of the median Cranberry Lake household income of $89,063; at that income and 20% down, the 28% guideline points to a home of about $299,000.
| Down payment | $58,580 |
|---|---|
| Loan amount | $234,320 |
| Principal and interest | $1,576 |
| Property taxes (1.37% a year) | $334 |
| Homeowners insurance (our estimate, 0.5% a year) | $122 |
| PMI | $0 |
| Total per month | $2,033 |
Change the numbers in the calculator
| Down payment | $10,252 |
|---|---|
| Loan amount | $287,595 |
| Principal and interest | $1,935 |
| Property taxes (1.37% a year) | $334 |
| Homeowners insurance (our estimate, 0.5% a year) | $122 |
| FHA mortgage insurance | $130 |
| Total per month | $2,521 |
Change the numbers in the calculator
Questions about home buying in Cranberry Lake
What is the median home value in Cranberry Lake?
About $292,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cranberry Lake?
Homeowners pay a median $4,000 a year, which is about 1.37% 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 Cranberry Lake?
For the median home with 20% down at 7.11%, the payment is about $2,033 a month. Keeping that under 28% of gross income takes about $87,117 a year.
More about Cranberry Lake
- Mortgage Refinance in Cranberry Lake
- Debt Relief in Cranberry Lake
- Home Equity Loans in Cranberry Lake
- 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