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Wappingers Falls Real Estate Market Facts

  • $211,100Median home price
    26% lower than New York
  • $1,295Median rent asked
    12% higher than New York
  • 34.6%Home owners
    35% lower than New York
  • 2.6People per home
    1% lower than New York
Above, you'll find an overview of the real estate market in Wappingers Falls, NY. Generally, real estate in the Wappingers Falls, NY area is more affordable in New York, as the median price of a home in Wappingers Falls, NY is $211,100, which is 26% lower than the New York average. The median rental price in Wappingers Falls, NY is $1,295. This is 12% higher than the average rental price in New York. Home owners comprise 34.6% of the population of Wappingers Falls, NY, where an average of 2.6 people live in each home. Various real estate options from luxurious homes to affordable condos and urban townhomes are available in Wappingers Falls, NY. Below, you can search for real estate listings in Wappingers Falls, NY using our search functionality that allows you to personalize your search and filter out location, price, and number of bedrooms and bathrooms.

Wappingers Falls Home Affordability

  • $211,100Median home price
    26% lower than New York
  • $46,962Median home income
    23% lower than New York
  • 4.5xHome price to income ratio
    5% lower than New York
When searching for real estate in Wappingers Falls, NY, home affordability is a critical aspect. The ratio of the house price to the median household income is one method used to figure out home affordability. In Wappingers Falls, NY, the median house price is $211,100, while the median income for households in the area is $46,962. Therefore, the ratio of house price to income is 4.5x; this ratio is 5% lower than the average in New York. The calculation for the ratio of home affordability requires dividing the median household income by the median house price. The lower the aforementioned ratio, the more affordable homes are - when comparing the house price to the household income. However, there are more factors that come into play in terms of home affordability. The calculator below determines home affordability, and it can help you decide how much money you can afford to pay for real estate in Wappingers Falls, NY.

Wappingers Falls Affordability Calculator

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Finding the right home in Wappingers Falls, NY means not only finding the right piece of real estate that meets your specifications, but finding a home that is priced within your individual budget requirements. Using the home affordability calculator is one of the best ways to determine your price range when seeking a Wappingers Falls, NY home, by inputting your down payment, income, and debt information. An even more detailed analysis can be generated by calculating additional factors, such as mortgage rate, length of mortgage, property taxes, home insurance, and any HOA dues. After evaluating these factors, the calculator will display the price range of homes within that individual budget. Determining your price range prior to beginning your house hunt in Wappingers Falls, NY will streamline the process by allowing you to seek only the homes you can comfortably afford. Using the home affordability calculator to determine your housing budget also gives you the peace of mind of knowing how much will remain in your budget for savings and other expenses.

Wappingers Falls Mortgage Calculator

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So you want to buy some real estate in Wappingers Falls, NY. What can you expect to pay for it on a monthly basis? This is determined in a number of different ways. One of the biggest variables when it comes to calculating the monthly price is simply the cost of the house itself. There are other significant factors though, such as interest rates, home owner's association fees, the amount of a down payment that was put on the property, PMI (private mortgage insurance), and property taxes. You can eliminate all PMI payments by making a down payment of at least 20% on the house. Using a mortgage calculator will have all these variables available, but they will be filled out with default data. These can be tweaked and filled in with the data specifically for the home you're looking at for a better overview of the monthly cost. When buying a home, you want to keep your debt to income ratio at 36%. This means that you want to pay no more than 36% of your monthly income on your house and other debt payments.

Wappingers Falls Demographics

  • 5,429Population
  • 4,894People / sq mile
  • 37.1Median age
  • 0.8:1Male/Female ratio

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
West Point, NY6,606$0100%
Newburgh, NY28,406$165,90010%
Copake Hamlet, NY161$171,4007%
Mountain Lodge Park, NY1,726$174,9005%
Poughkeepsie, NY30,511$193,1005%
Wappingers Falls, NY5,429$211,10014%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Highland, NY5,429$218,00018%
Salida, CO5,430$252,90037%
Clarinda, IA5,431$77,30058%
Aberdeen, MS5,427$71,70061%
Terryville, CT5,431$183,1001%
Wappingers Falls, NY5,429$211,10014%
Source: The Wappingers Falls, NY housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).