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Rapids

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

Median Home$302,873
Median Rent$792/month
Population1,596
Leading IndustriesPublic Administration · Retail28% public administration
Home Value Growth+6.9% over 2 years
Young Adults30% of residentsabove average nationally
Homeowners69% of occupied units
NotableHigh Incomes$93k/year · top 22% nationally
Rapids
NY

Frequently Asked Questions

What are today's mortgage rates in Rapids?

As of today, the 30-year fixed mortgage rate for Rapids is approximately 6.983% (7.022% 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 Rapids?

The median home value in Rapids is $303k. The median monthly rent is $792. Annual property taxes average $6k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Rapids?

Home values in Rapids have increased 6.9% 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 Rapids?

Based on a typical all-in ownership cost of $1,009/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $43k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Rapids is $93k/year.

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What industries drive the economy in Rapids?

The largest employment sectors in Rapids are public administration (28%) and retail (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.