The typical owner-occupied home in Lake Luzerne is worth about $229,600, 46% below the New York median of $423,800 and 31% below the national median of $332,700. Owners pay a median $3,169 a year in property taxes, about 1.38% of their home's value, lower than the New York rate of 1.55%. The median household earns $29,167 a year, so the median home costs 7.9 times the median income (4.9 times for New York). 84% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Lake Luzerne at a glance
| Lake Luzerne | New York | U.S. | |
|---|---|---|---|
| Median home value | $229,600 | $423,800 | $332,700 |
| Median property tax paid per year | $3,169 | $6,582 | $3,119 |
| Property tax as a share of value | 1.38% | 1.55% | 0.94% |
| Median household income | $29,167 | $85,974 | $80,734 |
| Homes lived in by their owners | 84% | 54% | 65% |
| Owner homes with a mortgage | 48% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,473 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 28.6% | 22.5% | 21.0% |
| Median rent | $2,833 | $1,621 | $1,413 |
| Rent as a share of renters' income | 28.3% | 31.2% | 30.6% |
| Median year homes were built | 1963 | 1959 | 1980 |
| Vacant homes | 50.0% | 10.0% | 10.1% |
| Population | 907 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Lake Luzerne
At this week's average 30-year rate of 7.11%, buying the median Lake Luzerne home of $229,600 with 20% down costs about $1,595 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,978, 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 $68,372 for the 20%-down payment. That payment is 66% of the median Lake Luzerne household income of $29,167; at that income and 20% down, the 28% guideline points to a home of about $98,000.
The median rent here is $2,833 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $45,920 |
|---|---|
| Loan amount | $183,680 |
| Principal and interest | $1,236 |
| Property taxes (1.38% a year) | $264 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| PMI | $0 |
| Total per month | $1,595 |
Change the numbers in the calculator
| Down payment | $8,036 |
|---|---|
| Loan amount | $225,441 |
| Principal and interest | $1,517 |
| Property taxes (1.38% a year) | $264 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| FHA mortgage insurance | $102 |
| Total per month | $1,978 |
Change the numbers in the calculator
Questions about home buying in Lake Luzerne
What is the median home value in Lake Luzerne?
About $229,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lake Luzerne?
Homeowners pay a median $3,169 a year, which is about 1.38% 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 Lake Luzerne?
For the median home with 20% down at 7.11%, the payment is about $1,595 a month. Keeping that under 28% of gross income takes about $68,372 a year.
More about Lake Luzerne
- Mortgage Refinance in Lake Luzerne
- Debt Relief in Lake Luzerne
- Home Equity Loans in Lake Luzerne
- 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