The typical owner-occupied home in Penfield is worth about $77,300, 70% below the Pennsylvania median of $254,500 and 77% below the national median of $332,700. Owners pay a median $990 a year in property taxes, about 1.28% of their home's value, close to the Pennsylvania rate of 1.30%. The median household earns $42,243 a year, so the median home costs 1.8 times the median income (3.3 times for Pennsylvania). 90% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Penfield at a glance
| Penfield | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $77,300 | $254,500 | $332,700 |
| Median property tax paid per year | $990 | $3,311 | $3,119 |
| Property tax as a share of value | 1.28% | 1.30% | 0.94% |
| Median household income | $42,243 | $77,971 | $80,734 |
| Homes lived in by their owners | 90% | 69% | 65% |
| Owner homes with a mortgage | 48% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,091 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 30.1% | 19.4% | 21.0% |
| Median rent | – | $1,209 | $1,413 |
| Median year homes were built | 1962 | 1965 | 1980 |
| Vacant homes | 2.4% | 9.2% | 10.1% |
| Population | 379 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Penfield
At this week's average 30-year rate of 7.11%, buying the median Penfield home of $77,300 with 20% down costs about $531 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $659, 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 $22,743 for the 20%-down payment. That payment is 15% of the median Penfield household income of $42,243; at that income and 20% down, the 28% guideline points to a home of about $144,000.
| Down payment | $15,460 |
|---|---|
| Loan amount | $61,840 |
| Principal and interest | $416 |
| Property taxes (1.28% a year) | $82 |
| Homeowners insurance (our estimate, 0.5% a year) | $32 |
| PMI | $0 |
| Total per month | $531 |
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| Down payment | $2,706 |
|---|---|
| Loan amount | $75,900 |
| Principal and interest | $511 |
| Property taxes (1.28% a year) | $82 |
| Homeowners insurance (our estimate, 0.5% a year) | $32 |
| FHA mortgage insurance | $34 |
| Total per month | $659 |
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Questions about home buying in Penfield
What is the median home value in Penfield?
About $77,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Penfield?
Homeowners pay a median $990 a year, which is about 1.28% 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 Penfield?
For the median home with 20% down at 7.11%, the payment is about $531 a month. Keeping that under 28% of gross income takes about $22,743 a year.
More about Penfield
- Mortgage Refinance in Penfield
- Debt Relief in Penfield
- Home Equity Loans in Penfield
- 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