Investing in Orleans County New York: What to Expect – Orleans County, NY has a grand population of 46,567 residents falling into the median age range of 45. White collar workers make up a large portion of the work force population in Orleans County, while blue collar employees account for a third of that population. Orleans County is known for competitive sports fishing and agricultural production. When comparing the cost of living in Orleans County, the cost of living is 18.4% lower than the U.S. average. For new residents of the area, look below to find out what to expect when living in the county.
Investing in Orleans County New York: What to Expect
Property Taxes:
To start, what is a property tax and why is it important? A property tax is judged as a rate of the value of a property. A property tax pays for the collection and disposal of garbage, community infrastructure, provision of water supply, and rehabilitation of roads, etc… The current property tax of Orleans County, NY is about $3,698.
Utilities:
We all know that utilities are the the basic services within your home or apartment, keeping it functioning properly and comfortably. The overall cost of utilities in Orleans, NY is 107.7, lower than the 115.9 we see in New York.
Natural Gas:
Much like everywhere these days seeing an inflation of gas prices, Orleans County is no different. It has seen a jump of 33 cents a gallon, with a grand total of $4.60.
Electricity:
The average residential price of electricity is 16.81 cents per kilowatt hour, a measure of electrical energy that is equivalent to a power consumption of 1,000 watts for one hour. Residents of Orleans County pay a 20.12% markup from the average national price. This means that on average, electricity users spend about $123 per month on electricity, adding up to about $1,476 per year.
Homeowners Insurance:
Homeowners insurance is what keeps a owner of a property safe from natural disasters and catastrophic events to their home, such as a fire. The cost of home owners insurance in Orleans County is an average of $1,338.60 with the median home value being $93,600. Of course, the prices can be adjusted based on a deductible of the insurance itself, making the above numbers a guesstimate of the average cost of homeowner insurance.
Rent in Orleans County, NY sees a lower average than that of most of the U.S. A studio apartment is worth $727, a single-bedroom apartment is worth $828, a two-bedroom apartment is worth $1,039, a three-bedroom apartment is worth $1,284 and a four-bedroom apartment is worth $1,409.
Orleans County, NY enjoys the peaceful aspects of the rural life, with urban centers nearby. There are many schools with decent ratings to choose from, and a single private school. Orleans County has a choice of four libraries, three museums and two state parks. There is a winery located within the region by the name of Leonard Oakes Estate Winery for a night out with the friends, or a Oak Orchard State Marine Park for a day with the family.
For more information on Investing in Orleans County New York, or if you have more questions about investing, please don’t hesitate to contact me below. I service the entire Orleans County area.
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