The typical owner-occupied home in Newfane is worth about $347,400, 10% above the Vermont median of $316,600 and 4% above the national median of $332,700. Owners pay a median $5,833 a year in property taxes, about 1.68% of their home's value, higher than the Vermont rate of 1.59%. The median household earns $85,938 a year, so the median home costs 4.0 times the median income (3.9 times for Vermont). 75% of occupied homes here are lived in by their owners, and 55% of those owners still have a mortgage.
Newfane at a glance
| Newfane | Vermont | U.S. | |
|---|---|---|---|
| Median home value | $347,400 | $316,600 | $332,700 |
| Median property tax paid per year | $5,833 | $5,039 | $3,119 |
| Property tax as a share of value | 1.68% | 1.59% | 0.94% |
| Median household income | $85,938 | $81,203 | $80,734 |
| Homes lived in by their owners | 75% | 73% | 65% |
| Owner homes with a mortgage | 55% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $2,411 | $1,907 | $1,963 |
| Those costs as a share of the owners' income | 20.6% | 21.7% | 21.0% |
| Median rent | $1,083 | $1,234 | $1,413 |
| Rent as a share of renters' income | 23.1% | 29.4% | 30.6% |
| Median year homes were built | 1938 | 1976 | 1980 |
| Vacant homes | 30.9% | 19.4% | 10.1% |
| Population | 141 | 647,106 | 334,922,499 |
What a typical home costs per month in Newfane
At this week's average 30-year rate of 7.11%, buying the median Newfane home of $347,400 with 20% down costs about $2,501 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,079, 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 $107,173 for the 20%-down payment. That payment is 35% of the median Newfane household income of $85,938; at that income and 20% down, the 28% guideline points to a home of about $279,000.
The median rent here is $1,083 a month, so owning the median home costs about $1,418 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $69,480 |
|---|---|
| Loan amount | $277,920 |
| Principal and interest | $1,870 |
| Property taxes (1.68% a year) | $486 |
| Homeowners insurance (our estimate, 0.5% a year) | $145 |
| PMI | $0 |
| Total per month | $2,501 |
Change the numbers in the calculator
| Down payment | $12,159 |
|---|---|
| Loan amount | $341,108 |
| Principal and interest | $2,295 |
| Property taxes (1.68% a year) | $486 |
| Homeowners insurance (our estimate, 0.5% a year) | $145 |
| FHA mortgage insurance | $154 |
| Total per month | $3,079 |
Change the numbers in the calculator
Questions about home buying in Newfane
What is the median home value in Newfane?
About $347,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Newfane?
Homeowners pay a median $5,833 a year, which is about 1.68% 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 Newfane?
For the median home with 20% down at 7.11%, the payment is about $2,501 a month. Keeping that under 28% of gross income takes about $107,173 a year.
More about Newfane
- Mortgage Refinance in Newfane
- Debt Relief in Newfane
- Home Equity Loans in Newfane
- 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