The typical owner-occupied home in Hannawa Falls is worth about $180,800, 57% below the New York median of $423,800 and 46% below the national median of $332,700. The median household earns $98,450 a year, so the median home costs 1.8 times the median income (4.9 times for New York). 84% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
Hannawa Falls at a glance
| Hannawa Falls | New York | U.S. | |
|---|---|---|---|
| Median home value | $180,800 | $423,800 | $332,700 |
| Median property tax paid per year | – | $6,582 | $3,119 |
| Median household income | $98,450 | $85,974 | $80,734 |
| Homes lived in by their owners | 84% | 54% | 65% |
| Owner homes with a mortgage | 35% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,734 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 16.1% | 22.5% | 21.0% |
| Median rent | $1,037 | $1,621 | $1,413 |
| Rent as a share of renters' income | 25.7% | 31.2% | 30.6% |
| Median year homes were built | 1973 | 1959 | 1980 |
| Vacant homes | 25.3% | 10.0% | 10.1% |
| Population | 744 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Hannawa Falls
At this week's average 30-year rate of 7.11%, buying the median Hannawa Falls home of $180,800 with 20% down costs about $1,214 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,515, 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 $52,032 for the 20%-down payment. That payment is 15% of the median Hannawa Falls household income of $98,450; at that income and 20% down, the 28% guideline points to a home of about $342,000.
The median rent here is $1,037 a month, so owning the median home costs about $177 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $36,160 |
|---|---|
| Loan amount | $144,640 |
| Principal and interest | $973 |
| Property taxes (1.10% a year) | $166 |
| Homeowners insurance (our estimate, 0.5% a year) | $75 |
| PMI | $0 |
| Total per month | $1,214 |
Change the numbers in the calculator
| Down payment | $6,328 |
|---|---|
| Loan amount | $177,525 |
| Principal and interest | $1,194 |
| Property taxes (1.10% a year) | $166 |
| Homeowners insurance (our estimate, 0.5% a year) | $75 |
| FHA mortgage insurance | $80 |
| Total per month | $1,515 |
Change the numbers in the calculator
Questions about home buying in Hannawa Falls
What is the median home value in Hannawa Falls?
About $180,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Hannawa Falls?
For the median home with 20% down at 7.11%, the payment is about $1,214 a month. Keeping that under 28% of gross income takes about $52,032 a year.
More about Hannawa Falls
- Mortgage Refinance in Hannawa Falls
- Debt Relief in Hannawa Falls
- Home Equity Loans in Hannawa Falls
- 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