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Honeoye Falls Real Estate Market Facts

  • $160,300Median home price
    44% lower than New York
  • $817Median rent asked
    30% lower than New York
  • 58.1%Home owners
    8% higher than New York
  • 2.1People per home
    20% lower than New York
The above shows an overview of the real estate market in Honeoye Falls, NY. Note how the median home price for Honeoye Falls, NY runs $160,300, which is 44% lower than the average property price for New York. So you’re going to get real estate in Honeoye Falls, NY that is on-average more affordable than what you’ll find in the rest of New York. As for rent, the median for Honeoye Falls, NY runs $817, which is comparatively 30% lower than the average rent for New York. For Honeoye Falls, NY, about 58.1% of the population consist of home owners with about 2.1 people living in each property on average. Whether you’re looking for condos or townhomes that are low-maintenance and affordable or sprawling mansions, Honeoye Falls, NY offers a wide variety of real estate. To find your perfect home in Honeoye Falls, NY, filter your choice by price, location, and number of beds and baths using the search area above.

Honeoye Falls Home Affordability

  • $160,300Median home price
    44% lower than New York
  • $58,333Median home income
    4% lower than New York
  • 2.7xHome price to income ratio
    42% lower than New York
When deciding where to purchase Honeoye Falls, NY real estate, home affordability is one of the top deciding factors. One way that you can calculate the affordability of your next home is to use this formula: median home price to median household income ratio. In Honeoye Falls, NY the median home price is $160,300 and $58,333 is the median household income. As a result, the home price to income ratio in Honeoye Falls, NY is 2.7x, which is 42% lower than the New York average. In order to determine the home affordability ratio, you would divide the median home price by the median home income. If you find that in Honeoye Falls, NY the home price to income ratio is lower than average, that means that in general, housing is more affordable. While there more than just one factor in deciding home affordability, you can use the home affordability calculator below as an additional tool when deciding how much you can and should pay for real estate in Honeoye Falls, NY.

Honeoye Falls Affordability Calculator

Include PMI
You can afford a home up to:
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  • Debt payment
  • Income taxes
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When looking for real estate in Honeoye Falls, NY, finding one that won't strain your budget is imperative. That's when the home affordability calculator comes in handy. It allows you to calculate the cost of a property in Honeoye Falls, NY, not only by considering your income, but debts and down payment amounts as well. You can personalize the home affordability calculator even further by adding in additional factors like length of mortgage term, property taxes, home insurance costs, mortgage rate, and HOA dues. The calculator will come up with an estimated cost of home ownership and display an amount that would fit within your budget. Knowing this figure will help you find a home that you can afford in Honeoye Falls, NY and keep you from looking at places that are out of financial reach. Therefore, you can avoid disappointment and emotional attachment to homes you would not be able to afford. Additionally, this tool allows you to balance your budget because it also calculates the amount of money left over for savings and other expenses.

Honeoye Falls Mortgage Calculator

Your monthly payment will be:
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  • Mortgage
  • PMI fees
  • Property tax
  • Home insurance
  • HOA dues
If I buy a real estate in Honeoye Falls, NY, what can I expect to pay monthly? There are a number of different factors that will go in to determining your monthly cost. While most people understand how significant the overall price of the house goes into determining the payment amount, it's also important to know that there are a variety of other variables to consider. These include things such as property taxes, private mortgage insurance (PMI), home owner's association dues, interest rate, and how much of a down payment has been made on the house. Understanding these is a great way to reduce overall payment. For example, you can reduce the private mortgage insurance by making a down payment of 20%. The mortgage calculator above will have all of these variables already filled out with default data, but you can customize it to give you a much more accurate reading. Generally speaking, you want to keep your debt to income ratio at about 36% when calculating your monthly house payment, which means paying no more than 36% of your monthly salary towards your housing and other debts.

Honeoye Falls Demographics

  • 2,734Population
  • 1,075People / sq mile
  • 42.5Median age
  • 1.0:1Male/Female ratio

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Rochester, NY210,291$77,80058%
Retsof, NY186$83,10055%
East Rochester, NY6,679$96,70048%
Hemlock, NY422$97,00047%
Fowlerville, NY292$97,70047%
Honeoye Falls, NY2,734$160,30013%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Strasburg, CO2,734$221,40020%
Braddock Heights, MD2,734$327,90078%
Edgewood, FL2,735$249,10035%
Sheridan, IN2,735$110,60040%
Plainsboro Center, NJ2,733$381,600107%
Honeoye Falls, NY2,734$160,30013%
Source: The Honeoye Falls, NY housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).