The typical owner-occupied home in South Fallsburg is worth about $375,000, 12% below the New York median of $423,800 and 13% above the national median of $332,700. Owners pay a median $6,919 a year in property taxes, about 1.85% of their home's value, higher than the New York rate of 1.55%. The median household earns $44,706 a year, so the median home costs 8.4 times the median income (4.9 times for New York). 41% of occupied homes here are lived in by their owners, and 15% of those owners still have a mortgage.
South Fallsburg at a glance
| South Fallsburg | New York | U.S. | |
|---|---|---|---|
| Median home value | $375,000 | $423,800 | $332,700 |
| Median property tax paid per year | $6,919 | $6,582 | $3,119 |
| Property tax as a share of value | 1.85% | 1.55% | 0.94% |
| Median household income | $44,706 | $85,974 | $80,734 |
| Homes lived in by their owners | 41% | 54% | 65% |
| Owner homes with a mortgage | 15% | 58% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,555 | $1,963 |
| Median rent | $975 | $1,621 | $1,413 |
| Rent as a share of renters' income | 24.5% | 31.2% | 30.6% |
| Median year homes were built | 1973 | 1959 | 1980 |
| Vacant homes | 49.0% | 10.0% | 10.1% |
| Population | 1,914 | 19,852,366 | 334,922,499 |
What a typical home costs per month in South Fallsburg
At this week's average 30-year rate of 7.11%, buying the median South Fallsburg home of $375,000 with 20% down costs about $2,752 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,377, 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 $117,964 for the 20%-down payment. That payment is 74% of the median South Fallsburg household income of $44,706; at that income and 20% down, the 28% guideline points to a home of about $142,000.
The median rent here is $975 a month, so owning the median home costs about $1,778 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $75,000 |
|---|---|
| Loan amount | $300,000 |
| Principal and interest | $2,018 |
| Property taxes (1.85% a year) | $578 |
| Homeowners insurance (our estimate, 0.5% a year) | $156 |
| PMI | $0 |
| Total per month | $2,752 |
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| Down payment | $13,125 |
|---|---|
| Loan amount | $368,208 |
| Principal and interest | $2,477 |
| Property taxes (1.85% a year) | $578 |
| Homeowners insurance (our estimate, 0.5% a year) | $156 |
| FHA mortgage insurance | $166 |
| Total per month | $3,377 |
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Questions about home buying in South Fallsburg
What is the median home value in South Fallsburg?
About $375,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in South Fallsburg?
Homeowners pay a median $6,919 a year, which is about 1.85% 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 South Fallsburg?
For the median home with 20% down at 7.11%, the payment is about $2,752 a month. Keeping that under 28% of gross income takes about $117,964 a year.
More about South Fallsburg
- Mortgage Refinance in South Fallsburg
- Debt Relief in South Fallsburg
- Home Equity Loans in South Fallsburg
- 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