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Counties with the lowest home prices in New York

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June 8, 2021
Pubdog // Wikimedia Commons

Counties with the lowest home prices in New York

The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.

But all things are not equal when it comes to real estate in the United States.

Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in New York. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.

The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency’s House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.

Keep reading to discover which county in New York has the lowest home prices.

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Reilchey27 // Wikimedia Commons

#30. Schoharie County

- Monthly mortgage payment in 2020: $567 (8.3% less than 2019)
- Monthly mortgage payment in 2019: $618
- Median home value in 2020: $153,100
- Ranked #1,816 out of 3,120 counties nationwide
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Benjamin D. Esham (bdesham) // Wikimedia Commons

#29. Livingston County

- Monthly mortgage payment in 2020: $560 (4.8% less than 2019)
- Monthly mortgage payment in 2019: $588
- Median home value in 2020: $151,300
- Ranked #1,789 out of 3,120 counties nationwide
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Colgate University // Wikimedia Commons

#28. Madison County

- Monthly mortgage payment in 2020: $560 (4.4% less than 2019)
- Monthly mortgage payment in 2019: $586
- Median home value in 2020: $151,200
- Ranked #1,787 out of 3,120 counties nationwide
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Doug Kerr // Wikimedia Commons

#27. Delaware County

- Monthly mortgage payment in 2020: $558 (7.9% less than 2019)
- Monthly mortgage payment in 2019: $606
- Median home value in 2020: $150,700
- Ranked #1,784 out of 3,120 counties nationwide
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#26. Oneida County

- Monthly mortgage payment in 2020: $551 (7.4% less than 2019)
- Monthly mortgage payment in 2019: $595
- Median home value in 2020: $148,700
- Ranked #1,760 out of 3,120 counties nationwide
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PQK // Shuterstock

#25. Yates County

- Monthly mortgage payment in 2020: $546 (4.5% less than 2019)
- Monthly mortgage payment in 2019: $572
- Median home value in 2020: $147,400
- Ranked #1,736 out of 3,120 counties nationwide
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Mihai_Andritoiu // Shutterstock

#24. Niagara County

- Monthly mortgage payment in 2020: $544 (7.5% less than 2019)
- Monthly mortgage payment in 2019: $588
- Median home value in 2020: $146,900
- Ranked #1,724 out of 3,120 counties nationwide
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Lamar Gore/USFWS // Wikimedia Commons

#23. Schuyler County

- Monthly mortgage payment in 2020: $533 (1.1% less than 2019)
- Monthly mortgage payment in 2019: $539
- Median home value in 2020: $144,000
- Ranked #1,681 out of 3,120 counties nationwide
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#22. Cayuga County

- Monthly mortgage payment in 2020: $530 (13.3% less than 2019)
- Monthly mortgage payment in 2019: $611
- Median home value in 2020: $143,200
- Ranked #1,662 out of 3,120 counties nationwide
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#21. Cortland County

- Monthly mortgage payment in 2020: $496 (5.5% less than 2019)
- Monthly mortgage payment in 2019: $525
- Median home value in 2020: $133,900
- Ranked #1,503 out of 3,120 counties nationwide
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Andre Carrotflower // Wikimedia Commons

#20. Wayne County

- Monthly mortgage payment in 2020: $495 (13.0% less than 2019)
- Monthly mortgage payment in 2019: $569
- Median home value in 2020: $133,800
- Ranked #1,501 out of 3,120 counties nationwide
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#19. Tioga County

- Monthly mortgage payment in 2020: $485 (3.6% less than 2019)
- Monthly mortgage payment in 2019: $503
- Median home value in 2020: $131,000
- Ranked #1,456 out of 3,120 counties nationwide
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#18. Lewis County

- Monthly mortgage payment in 2020: $481 (9.8% less than 2019)
- Monthly mortgage payment in 2019: $533
- Median home value in 2020: $130,000
- Ranked #1,433 out of 3,120 counties nationwide
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Daniel Case // Wikimedia Commons

#17. Genesee County

- Monthly mortgage payment in 2020: $480 (8.2% less than 2019)
- Monthly mortgage payment in 2019: $523
- Median home value in 2020: $129,600
- Ranked #1,425 out of 3,120 counties nationwide
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#16. Broome County

- Monthly mortgage payment in 2020: $478 (6.8% less than 2019)
- Monthly mortgage payment in 2019: $513
- Median home value in 2020: $129,100
- Ranked #1,409 out of 3,120 counties nationwide
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Kenneth C. Zirkel // Wikimedia Commons

#15. Wyoming County

- Monthly mortgage payment in 2020: $464 (7.0% less than 2019)
- Monthly mortgage payment in 2019: $499
- Median home value in 2020: $125,400
- Ranked #1,340 out of 3,120 counties nationwide
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Beyond My Ken // Wikimedia Commons

#14. Fulton County

- Monthly mortgage payment in 2020: $439 (9.1% less than 2019)
- Monthly mortgage payment in 2019: $483
- Median home value in 2020: $118,500
- Ranked #1,161 out of 3,120 counties nationwide
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Mwanner // Wikimedia Commons

#13. Franklin County

- Monthly mortgage payment in 2020: $435 (7.2% less than 2019)
- Monthly mortgage payment in 2019: $469
- Median home value in 2020: $117,600
- Ranked #1,135 out of 3,120 counties nationwide
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marjobani // Wikimedia Commons

#12. Seneca County

- Monthly mortgage payment in 2020: $429 (4.9% less than 2019)
- Monthly mortgage payment in 2019: $451
- Median home value in 2020: $115,800
- Ranked #1,101 out of 3,120 counties nationwide
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Marduk // Wikimedia Commons

#11. Steuben County

- Monthly mortgage payment in 2020: $427 (6.4% less than 2019)
- Monthly mortgage payment in 2019: $456
- Median home value in 2020: $115,300
- Ranked #1,089 out of 3,120 counties nationwide
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#10. Oswego County

- Monthly mortgage payment in 2020: $425 (12.9% less than 2019)
- Monthly mortgage payment in 2019: $488
- Median home value in 2020: $114,800
- Ranked #1,082 out of 3,120 counties nationwide
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Jwilson855 // Wikimedia Commons

#9. Montgomery County

- Monthly mortgage payment in 2020: $422 (6.0% less than 2019)
- Monthly mortgage payment in 2019: $449
- Median home value in 2020: $114,000
- Ranked #1,061 out of 3,120 counties nationwide
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P199 // Wikimedia Commons

#8. St. Lawrence County

- Monthly mortgage payment in 2020: $408 (6.6% less than 2019)
- Monthly mortgage payment in 2019: $437
- Median home value in 2020: $110,100
- Ranked #971 out of 3,120 counties nationwide
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#7. Chemung County

- Monthly mortgage payment in 2020: $405 (18.2% less than 2019)
- Monthly mortgage payment in 2019: $495
- Median home value in 2020: $109,300
- Ranked #950 out of 3,120 counties nationwide
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Doug Kerr from Upstate New York // Wikimedia Commons

#6. Herkimer County

- Monthly mortgage payment in 2020: $400 (6.5% less than 2019)
- Monthly mortgage payment in 2019: $428
- Median home value in 2020: $108,000
- Ranked #911 out of 3,120 counties nationwide
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Daniel Case // Wikimedia Commons

#5. Chenango County

- Monthly mortgage payment in 2020: $394 (8.6% less than 2019)
- Monthly mortgage payment in 2019: $431
- Median home value in 2020: $106,400
- Ranked #863 out of 3,120 counties nationwide
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Jimmy Emerson // Wikimedia Commons

#4. Orleans County

- Monthly mortgage payment in 2020: $393 (5.8% less than 2019)
- Monthly mortgage payment in 2019: $417
- Median home value in 2020: $106,200
- Ranked #857 out of 3,120 counties nationwide
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Andre Carrotflower // Wikimedia Commons

#3. Chautauqua County

- Monthly mortgage payment in 2020: $380 (1.3% less than 2019)
- Monthly mortgage payment in 2019: $385
- Median home value in 2020: $102,700
- Ranked #769 out of 3,120 counties nationwide
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Pubdog // Wikimedia Commons

#2. Cattaraugus County

- Monthly mortgage payment in 2020: $375 (2.1% less than 2019)
- Monthly mortgage payment in 2019: $383
- Median home value in 2020: $101,300
- Ranked #732 out of 3,120 counties nationwide
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Andre Carrotflower // Wikimedia Commons

#1. Allegany County

- Monthly mortgage payment in 2020: $306 (6.7% less than 2019)
- Monthly mortgage payment in 2019: $328
- Median home value in 2020: $82,600
- Ranked #276 out of 3,120 counties nationwide
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