The typical owner-occupied home in New Rochelle is worth about $702,500, 66% above the New York median of $423,800 and 2.1 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.42% of their home's value, lower than the New York rate of 1.55%. The median household earns $109,167 a year, so the median home costs 6.4 times the median income (4.9 times for New York). 54% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
New Rochelle at a glance
| New Rochelle | New York | U.S. | |
|---|---|---|---|
| Median home value | $702,500 | $423,800 | $332,700 |
| Median property tax paid per year | $10,001 | $6,582 | $3,119 |
| Property tax as a share of value | 1.42% | 1.55% | 0.94% |
| Median household income | $109,167 | $85,974 | $80,734 |
| Homes lived in by their owners | 54% | 54% | 65% |
| Owner homes with a mortgage | 58% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 23.1% | 22.5% | 21.0% |
| Median rent | $1,917 | $1,621 | $1,413 |
| Rent as a share of renters' income | 30.5% | 31.2% | 30.6% |
| Median year homes were built | 1955 | 1959 | 1980 |
| Vacant homes | 3.4% | 10.0% | 10.1% |
| Population | 82,769 | 19,852,366 | 334,922,499 |
What a typical home costs per month in New Rochelle
At this week's average 30-year rate of 7.11%, buying the median New Rochelle home of $702,500 with 20% down costs about $4,905 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,075, 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 $210,198 for the 20%-down payment. That payment is 54% of the median New Rochelle household income of $109,167; at that income and 20% down, the 28% guideline points to a home of about $365,000.
The median rent here is $1,917 a month, so owning the median home costs about $2,988 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $140,500 |
|---|---|
| Loan amount | $562,000 |
| Principal and interest | $3,781 |
| Property taxes (1.42% a year) | $831 |
| Homeowners insurance (our estimate, 0.5% a year) | $293 |
| PMI | $0 |
| Total per month | $4,905 |
Change the numbers in the calculator
| Down payment | $24,588 |
|---|---|
| Loan amount | $689,776 |
| Principal and interest | $4,640 |
| Property taxes (1.42% a year) | $831 |
| Homeowners insurance (our estimate, 0.5% a year) | $293 |
| FHA mortgage insurance | $311 |
| Total per month | $6,075 |
Change the numbers in the calculator
Questions about home buying in New Rochelle
What is the median home value in New Rochelle?
About $702,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in New Rochelle?
Homeowners pay a median $10,001 a year, which is about 1.42% 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 New Rochelle?
For the median home with 20% down at 7.11%, the payment is about $4,905 a month. Keeping that under 28% of gross income takes about $210,198 a year.
More about New Rochelle
- Mortgage Refinance in New Rochelle
- Debt Relief in New Rochelle
- Home Equity Loans in New Rochelle
- 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