CALCMONEY // HOME AFFORDABILITY // NY // RYE
How much house can you afford in Rye? Based on local median home prices, current NY mortgage rates, and Rye property tax data.
$1,850,000
$13,065/mo
$559,936/yr
$792,799
Monthly housing costs of $13,065 represent 49.0% of Rye's median gross monthly income ($26,667/mo). At 49.0%, median-income buyers in Rye are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $1,850,000 |
| Down Payment (20%) | $370,000 |
| Loan Amount | $1,480,000 |
| Monthly PI Payment | $9,797 |
| Monthly Property Tax | $2,498 |
| Monthly Insurance Est. | $771 |
| Total Monthly PITI | $13,065 |
| Housing Cost % of Income | 49.0% |
| Required Income (28% rule) | $559,936/yr |
| Max Affordable Home | $792,799 |
$64,750
$16,350/mo
Rye Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $1,850,000 | Rye city median |
| Down Payment (20%) | $370,000 | Conventional loan |
| Monthly PITI | $13,065 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $559,936 | Annual gross |
| Max Affordable Home | $792,799 | Based on median income |
| FHA Down (3.5%) | $64,750 | Minimum FHA |
| Housing Cost % of Income | 49.0% | Median income: $320,000/yr |
| Property Tax Rate | 1.62% | $29,970/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Rye is $1,850,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $1,480,000, generating a monthly P&I payment of $9,797. Adding property taxes ($2,498/mo) and homeowners insurance ($771/mo) brings total monthly PITI to $13,065.
Rye's property tax rate of 1.62% is near the national average, adding a standard increment to monthly housing costs. On the Rye median home, that is $2,498/month, or $29,970 per year.
New York levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Rye should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Rye's median income of $320,000/year can afford up to $7,467/month in total housing costs. Based on Rye's mortgage rate of 6.95% and property tax rate of 1.62%, that translates to a maximum affordable home price of approximately $792,799 with 20% down on a 30-year loan.
To afford the median Rye home priced at $1,850,000, you need an annual gross income of approximately $559,936. Total monthly housing costs (principal and interest of $9,797, property taxes of $2,498, and insurance of $771) come to $13,065/month, which equals 28% of the required income.
At the median home price of $1,850,000 and median household income of $320,000, the total monthly housing cost of $13,065 represents 49.0% of gross monthly income. This is well above the standard 28% threshold, making Rye a challenging market for buyers at median income.
A conventional 20% down payment on the median Rye home of $1,850,000 is $370,000. An FHA loan requires just 3.5% down — $64,750 — but adds mortgage insurance of roughly $1,265/month, bringing total FHA payments to $16,350/month.
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