The typical owner-occupied home in Laurel is worth about $870,800, 2.1 times the New York median of $423,800 and 2.6 times the national median of $332,700. Owners pay a median $8,838 a year in property taxes, about 1.01% of their home's value, lower than the New York rate of 1.55%. The median household earns $138,726 a year, so the median home costs 6.3 times the median income (4.9 times for New York). 85% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Laurel at a glance
| Laurel | New York | U.S. | |
|---|---|---|---|
| Median home value | $870,800 | $423,800 | $332,700 |
| Median property tax paid per year | $8,838 | $6,582 | $3,119 |
| Property tax as a share of value | 1.01% | 1.55% | 0.94% |
| Median household income | $138,726 | $85,974 | $80,734 |
| Homes lived in by their owners | 85% | 54% | 65% |
| Owner homes with a mortgage | 40% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 31.4% | 22.5% | 21.0% |
| Median rent | – | $1,621 | $1,413 |
| Median year homes were built | 1972 | 1959 | 1980 |
| Vacant homes | 38.6% | 10.0% | 10.1% |
| Population | 1,360 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Laurel
At this week's average 30-year rate of 7.11%, buying the median Laurel home of $870,800 with 20% down costs about $5,782 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,373, 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 $247,804 for the 20%-down payment. That payment is 50% of the median Laurel household income of $138,726; at that income and 20% down, the 28% guideline points to a home of about $487,000.
| Down payment | $174,160 |
|---|---|
| Loan amount | $696,640 |
| Principal and interest | $4,686 |
| Property taxes (1.01% a year) | $733 |
| Homeowners insurance (our estimate, 0.5% a year) | $363 |
| PMI | $0 |
| Total per month | $5,782 |
Change the numbers in the calculator
| Down payment | $30,478 |
|---|---|
| Loan amount | $855,028 |
| Principal and interest | $5,752 |
| Property taxes (1.01% a year) | $733 |
| Homeowners insurance (our estimate, 0.5% a year) | $363 |
| FHA mortgage insurance | $525 |
| Total per month | $7,373 |
Change the numbers in the calculator
Questions about home buying in Laurel
What is the median home value in Laurel?
About $870,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Laurel?
Homeowners pay a median $8,838 a year, which is about 1.01% 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 Laurel?
For the median home with 20% down at 7.11%, the payment is about $5,782 a month. Keeping that under 28% of gross income takes about $247,804 a year.
More about Laurel
- Mortgage Refinance in Laurel
- Debt Relief in Laurel
- Home Equity Loans in Laurel
- 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