The typical owner-occupied home in New Florence is worth about $117,400, 54% below the Pennsylvania median of $254,500 and 65% below the national median of $332,700. Owners pay a median $1,715 a year in property taxes, about 1.46% of their home's value, higher than the Pennsylvania rate of 1.30%. The median household earns $61,500 a year, so the median home costs 1.9 times the median income (3.3 times for Pennsylvania). 80% of occupied homes here are lived in by their owners, and 44% of those owners still have a mortgage.
New Florence at a glance
| New Florence | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $117,400 | $254,500 | $332,700 |
| Median property tax paid per year | $1,715 | $3,311 | $3,119 |
| Property tax as a share of value | 1.46% | 1.30% | 0.94% |
| Median household income | $61,500 | $77,971 | $80,734 |
| Homes lived in by their owners | 80% | 69% | 65% |
| Owner homes with a mortgage | 44% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,310 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 14.6% | 19.4% | 21.0% |
| Median rent | $677 | $1,209 | $1,413 |
| Rent as a share of renters' income | 32.0% | 29.2% | 30.6% |
| Median year homes were built | 1952 | 1965 | 1980 |
| Vacant homes | 10.2% | 9.2% | 10.1% |
| Population | 653 | 13,018,639 | 334,922,499 |
What a typical home costs per month in New Florence
At this week's average 30-year rate of 7.11%, buying the median New Florence home of $117,400 with 20% down costs about $824 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,019, 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 $35,295 for the 20%-down payment. That payment is 16% of the median New Florence household income of $61,500; at that income and 20% down, the 28% guideline points to a home of about $205,000.
The median rent here is $677 a month, so owning the median home costs about $147 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $23,480 |
|---|---|
| Loan amount | $93,920 |
| Principal and interest | $632 |
| Property taxes (1.46% a year) | $143 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| PMI | $0 |
| Total per month | $824 |
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| Down payment | $4,109 |
|---|---|
| Loan amount | $115,274 |
| Principal and interest | $775 |
| Property taxes (1.46% a year) | $143 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| FHA mortgage insurance | $52 |
| Total per month | $1,019 |
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Questions about home buying in New Florence
What is the median home value in New Florence?
About $117,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in New Florence?
Homeowners pay a median $1,715 a year, which is about 1.46% 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 Florence?
For the median home with 20% down at 7.11%, the payment is about $824 a month. Keeping that under 28% of gross income takes about $35,295 a year.
More about New Florence
- Mortgage Refinance in New Florence
- Debt Relief in New Florence
- Home Equity Loans in New Florence
- 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