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Letchworth

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

Median Home$194,794
Median Rent$779/month
Population15,851
Leading IndustriesArts, Food & Hospitality · Manufacturing · Wholesale Trade8% arts, food & hospitality
Home Value Growth⬆⬆+14.9% over 2 years
Family-Friendly23% of residentsnear the national average
Homeowners83% of occupied units
NotableHighly Educated22% bachelor's · 11% graduate · top 24% nationally
NotableVeteran Community8% of residents · top 27% nationally
Letchworth
NY

Frequently Asked Questions

What are today's mortgage rates in Letchworth?

As of today, the 30-year fixed mortgage rate for Letchworth is approximately 7.018% (7.058% 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 Letchworth?

The median home value in Letchworth is $195k. The median monthly rent is $779. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Letchworth?

Home values in Letchworth have increased 14.9% over the past two years. This indicates a strong appreciation trend. 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 Letchworth?

Based on a typical all-in ownership cost of $877/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $38k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Letchworth is $74k/year.

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What industries drive the economy in Letchworth?

The largest employment sectors in Letchworth are public administration (23%) and retail (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.