The typical owner-occupied home in Babylon is worth about $658,500, 55% above the New York median of $423,800 and 98% above the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.52% of their home's value, close to the New York rate of 1.55%. The median household earns $140,820 a year, so the median home costs 4.7 times the median income (4.9 times for New York). 79% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
Babylon at a glance
| Babylon | New York | U.S. | |
|---|---|---|---|
| Median home value | $658,500 | $423,800 | $332,700 |
| Median property tax paid per year | $10,001 | $6,582 | $3,119 |
| Property tax as a share of value | 1.52% | 1.55% | 0.94% |
| Median household income | $140,820 | $85,974 | $80,734 |
| Homes lived in by their owners | 79% | 54% | 65% |
| Owner homes with a mortgage | 66% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $3,810 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 25.9% | 22.5% | 21.0% |
| Median rent | $2,427 | $1,621 | $1,413 |
| Rent as a share of renters' income | 31.7% | 31.2% | 30.6% |
| Median year homes were built | 1956 | 1959 | 1980 |
| Vacant homes | 3.0% | 10.0% | 10.1% |
| Population | 12,185 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Babylon
At this week's average 30-year rate of 7.11%, buying the median Babylon home of $658,500 with 20% down costs about $4,652 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,749, 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 $199,384 for the 20%-down payment. That payment is 40% of the median Babylon household income of $140,820; at that income and 20% down, the 28% guideline points to a home of about $465,000.
The median rent here is $2,427 a month, so owning the median home costs about $2,225 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $131,700 |
|---|---|
| Loan amount | $526,800 |
| Principal and interest | $3,544 |
| Property taxes (1.52% a year) | $834 |
| Homeowners insurance (our estimate, 0.5% a year) | $274 |
| PMI | $0 |
| Total per month | $4,652 |
Change the numbers in the calculator
| Down payment | $23,048 |
|---|---|
| Loan amount | $646,573 |
| Principal and interest | $4,350 |
| Property taxes (1.52% a year) | $834 |
| Homeowners insurance (our estimate, 0.5% a year) | $274 |
| FHA mortgage insurance | $291 |
| Total per month | $5,749 |
Change the numbers in the calculator
Questions about home buying in Babylon
What is the median home value in Babylon?
About $658,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Babylon?
Homeowners pay a median $10,001 a year, which is about 1.52% 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 Babylon?
For the median home with 20% down at 7.11%, the payment is about $4,652 a month. Keeping that under 28% of gross income takes about $199,384 a year.
More about Babylon
- Mortgage Refinance in Babylon
- Debt Relief in Babylon
- Home Equity Loans in Babylon
- 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