Compare Ithaca, NY mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Ithaca.
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May 24, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Ithaca. Understand how much you need to earn to afford a home in Ithaca, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Ithaca fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Ithaca is right for you.
The median home value for Ithaca, NY (Tompkins County) is $251,571
Based on current mortgage rates and a 10% down payment, you need to make $41,219 per year to buy the median priced home in Ithaca
With this income, you could qualify for a $226,414 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Ithaca is $955
The median household income for Ithaca, NY (Tompkins County) is $63,367
Based on this income, you can afford a home valued at approximately $386,749
The home price you can afford to buy based on household income in Ithaca is 154% of the median home value which means housing prices are average. Ithaca (Tompkins County) ranks 50 out of 62 counties in New York and 2,536 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Ithaca, NY is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Ithaca (Tompkins County) below.
Conforming loan limits for Ithaca, NY
FHA loan limits for Ithaca, NY
VA loan limits for Ithaca, NY