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Lake Mohegan

Learn about the people, housing, costs and businesses in Lake Mohegan, New York

Median Home$499,776
Median Rent$2,311/month
Population5,839
Leading IndustriesProfessional Services · Public Administration · Healthcare4% professional services
Home Value Growth+7.9% over 2 years
Young Adults30% of residentsabove average nationally
Homeowners73% of occupied units
NotableHigh Incomes$155k/year · top 3% nationally
NotableHighly Educated34% bachelor's · 20% graduate · top 4% nationally
Lake Mohegan
NY

Frequently Asked Questions

What are today's mortgage rates in Lake Mohegan?

As of today, the 30-year fixed mortgage rate for Lake Mohegan is approximately 6.857% (6.892% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Lake Mohegan?

The median home value in Lake Mohegan is $500k. The median monthly rent is $2,311. Annual property taxes average $10k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lake Mohegan?

Home values in Lake Mohegan have increased 7.9% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lake Mohegan?

Based on a typical all-in ownership cost of $2,601/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $111k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lake Mohegan is $155k/year.

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What industries drive the economy in Lake Mohegan?

The largest employment sectors in Lake Mohegan are public administration (32%) and healthcare (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.