Income needed to buy a home
Schenectady County, NY
$119,739
a year in household income to buy the typical Schenectady County home with 10% down.
The monthly math
Typical home value$314,934
Down payment (10%)$31,493
Loan$283,441
Principal and interest (7.40%)$1,962/mo
Property tax (2.12% a year)$556/mo
Homeowners insurance (estimate)$157/mo
Mortgage insurance$118/mo
Total monthly cost$2,794/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Far off
The typical household here earns $79,623 a year, 66% of what it takes.
In New York
Schenectady County ranks #40 of 62 for the income a home takes, from least to most.
Easiest to afford in New York
| County | Typical home | Income needed |
|---|---|---|
| Allegany County | $143,514 | $55,846 |
| St. Lawrence County | $151,402 | $56,547 |
| Chemung County | $165,850 | $62,352 |
| Cattaraugus County | $169,594 | $63,299 |
| Chenango County | $170,494 | $64,427 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.