The typical owner-occupied home in Rensselaer Falls is worth about $87,100, 79% below the New York median of $423,800 and 74% below the national median of $332,700. Owners pay a median $1,477 a year in property taxes, about 1.70% of their home's value, higher than the New York rate of 1.55%. The median household earns $82,109 a year, so the median home costs 1.1 times the median income (4.9 times for New York). 86% of occupied homes here are lived in by their owners, and 49% of those owners still have a mortgage.
Rensselaer Falls at a glance
| Rensselaer Falls | New York | U.S. | |
|---|---|---|---|
| Median home value | $87,100 | $423,800 | $332,700 |
| Median property tax paid per year | $1,477 | $6,582 | $3,119 |
| Property tax as a share of value | 1.70% | 1.55% | 0.94% |
| Median household income | $82,109 | $85,974 | $80,734 |
| Homes lived in by their owners | 86% | 54% | 65% |
| Owner homes with a mortgage | 49% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,080 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 14.1% | 22.5% | 21.0% |
| Median rent | $1,038 | $1,621 | $1,413 |
| Rent as a share of renters' income | 36.6% | 31.2% | 30.6% |
| Median year homes were built | 1938 | 1959 | 1980 |
| Vacant homes | 0.0% | 10.0% | 10.1% |
| Population | 483 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Rensselaer Falls
At this week's average 30-year rate of 7.11%, buying the median Rensselaer Falls home of $87,100 with 20% down costs about $628 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $774, 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 $26,932 for the 20%-down payment. That payment is 9% of the median Rensselaer Falls household income of $82,109; at that income and 20% down, the 28% guideline points to a home of about $266,000.
The median rent here is $1,038 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $17,420 |
|---|---|
| Loan amount | $69,680 |
| Principal and interest | $469 |
| Property taxes (1.70% a year) | $123 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| PMI | $0 |
| Total per month | $628 |
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| Down payment | $3,048 |
|---|---|
| Loan amount | $85,522 |
| Principal and interest | $575 |
| Property taxes (1.70% a year) | $123 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| FHA mortgage insurance | $39 |
| Total per month | $774 |
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Questions about home buying in Rensselaer Falls
What is the median home value in Rensselaer Falls?
About $87,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Rensselaer Falls?
Homeowners pay a median $1,477 a year, which is about 1.70% 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 Rensselaer Falls?
For the median home with 20% down at 7.11%, the payment is about $628 a month. Keeping that under 28% of gross income takes about $26,932 a year.
More about Rensselaer Falls
- Mortgage Refinance in Rensselaer Falls
- Debt Relief in Rensselaer Falls
- Home Equity Loans in Rensselaer 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