Top 10 Counties in New York to Buy Cheapest Homes

The housing market is booming. Not only is the cost to buy a home going through the roof, mortgage rates are also on the rise. Home prices increased more than 30 percentage points in some counties across the country.

The most expensive place to buy a home in New York is in New York County where the average price is $1,306,210 with monthly mortgage payments of $5,007, up from $4,314 in the last quarter of 2020, according to The National Association of Realtors.

Cheapest Homes in New York

So where is the cheapest place to buy a home in the Empire State? Only two Central New York counties made the top 10 for least expensive homes and monthly mortgage rates.

#1. Allegany County

- Monthly mortgage payment: $336
- Monthly mortgage payment in 2020: $306
- Median home value: $95,435
- Median home value in 2020: $82,600

#2. Cattaraugus County

- Monthly mortgage payment: $449
- Monthly mortgage payment in 2020: $375
- Median home value: $117,046
- Median home value in 2020: $101,300

#3. Chautauqua County

- Monthly mortgage payment: $455
- Monthly mortgage payment in 2020: $380
- Median home value: $118,669
- Median home value in 2020: $102,700

#4. Orleans County

- Monthly mortgage payment: $467
- Monthly mortgage payment in 2020: $393
- Median home value: $121,760
- Median home value in 2020: $106,200

#5. Chenango County

- Monthly mortgage payment: $471
- Monthly mortgage payment in 2020: $394
- Median home value: $122,917
- Median home value in 2020: $106,400

#6. Herkimer County

- Monthly mortgage payment: $471
- Monthly mortgage payment in 2020: $400
- Median home value: $122,824
- Median home value in 2020: $108,000

#7. Chemung County

- Monthly mortgage payment: $473
- Monthly mortgage payment in 2020: $405
- Median home value: $123,379
- Median home value in 2020: $109,300

#8. St. Lawrence County

- Monthly mortgage payment: $487
- Monthly mortgage payment in 2020: $408 (6.6% less than 2019)
- Median home value: $127,164
- Median home value in 2020: $110,100

#9. Montgomery County

- Monthly mortgage payment in 2019: $505
- Monthly mortgage payment in 2020: $422
- Median home value: $131,661
- Median home value in 2020: $114,000

#10. Oswego County

- Monthly mortgage payment: $509
- Monthly mortgage payment in 2020: $425
- Median home value: $132,745
- Median home value in 2020: $114,800

Central New York Counties

Oneida and Madison counties in Central New York have higher monthly mortgage rates and average home values.

#26. Oneida County

- Monthly mortgage payment: $648
- Monthly mortgage payment in 2020: $551
- Median home value: $169,129
- Median home value in 2020: $148,700

#28. Madison County

- Monthly mortgage payment: $670
- Monthly mortgage payment in 2020: $560
- Median home value: $174,835
- Median home value in 2020: $151,200

See the full list of average home prices and mortgage payments in any county across the county at the National Association of Realtors.