The typical owner-occupied home in Folsom is worth about $280,100, 10% above the Pennsylvania median of $254,500 and 16% below the national median of $332,700. Owners pay a median $6,206 a year in property taxes, about 2.22% of their home's value, higher than the Pennsylvania rate of 1.30%. The median household earns $113,064 a year, so the median home costs 2.5 times the median income (3.3 times for Pennsylvania). 84% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Folsom at a glance
| Folsom | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $280,100 | $254,500 | $332,700 |
| Median property tax paid per year | $6,206 | $3,311 | $3,119 |
| Property tax as a share of value | 2.22% | 1.30% | 0.94% |
| Median household income | $113,064 | $77,971 | $80,734 |
| Homes lived in by their owners | 84% | 69% | 65% |
| Owner homes with a mortgage | 71% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,075 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 20.6% | 19.4% | 21.0% |
| Median rent | $1,540 | $1,209 | $1,413 |
| Rent as a share of renters' income | 30.8% | 29.2% | 30.6% |
| Median year homes were built | 1957 | 1965 | 1980 |
| Vacant homes | 4.7% | 9.2% | 10.1% |
| Population | 8,671 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Folsom
At this week's average 30-year rate of 7.11%, buying the median Folsom home of $280,100 with 20% down costs about $2,142 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,609, 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 $91,812 for the 20%-down payment. That payment is 23% of the median Folsom household income of $113,064; at that income and 20% down, the 28% guideline points to a home of about $345,000.
The median rent here is $1,540 a month, so owning the median home costs about $602 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $56,020 |
|---|---|
| Loan amount | $224,080 |
| Principal and interest | $1,507 |
| Property taxes (2.22% a year) | $518 |
| Homeowners insurance (our estimate, 0.5% a year) | $117 |
| PMI | $0 |
| Total per month | $2,142 |
Change the numbers in the calculator
| Down payment | $9,804 |
|---|---|
| Loan amount | $275,027 |
| Principal and interest | $1,850 |
| Property taxes (2.22% a year) | $518 |
| Homeowners insurance (our estimate, 0.5% a year) | $117 |
| FHA mortgage insurance | $124 |
| Total per month | $2,609 |
Change the numbers in the calculator
Questions about home buying in Folsom
What is the median home value in Folsom?
About $280,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Folsom?
Homeowners pay a median $6,206 a year, which is about 2.22% 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 Folsom?
For the median home with 20% down at 7.11%, the payment is about $2,142 a month. Keeping that under 28% of gross income takes about $91,812 a year.
More about Folsom
- Mortgage Refinance in Folsom
- Debt Relief in Folsom
- Home Equity Loans in Folsom
- 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