In Carmel, a typical home is worth $488,300 and typical rent is $1,150 a month. Compared with all of Putnam County, typical rent is 35% lower, typical household income is 9% lower, and the share of households that own their home is 9 points lower.
From Zillow (ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Carmel is in Putnam County. The FHA loan limit ($1,249,125 for a one-unit home), the fair market rents and the help on this page are those of all of Putnam County. See the county
What this place has that others do not, from public data, most unusual first.
1
The typical rent in Carmel is $1,150 a month, 35% less than in Putnam County as a whole ($1,775).
2
Nearby, in Lake Carmel, the typical home value is $363,700: 26% less than in Carmel ($488,300).
3
75% of households in Carmel own their home, against 84% in Putnam County.
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Carmel
What homes there are in Carmel, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Carmel
Putnam County
New York
United States
Kind of home: Carmel and its comparisons
Measure
Carmel
Putnam County
New York
United States
Detached house
60%
77%
41%
61%
Attached house
16%
8%
6%
6%
Building of 2 to 4
Unreliable estimate
8%
17%
8%
Apartments (5 or more)
Unreliable estimate
6%
35%
19%
Mobile home
Unreliable estimate
1%
2%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
Detached houses are the majority in Carmel (60%), but less so than in Putnam County (77%).
Year built
Before 19601960–19791980–19992000–20092010 or later
Carmel
Putnam County
New York
United States
Year built: Carmel and its comparisons
Measure
Carmel
Putnam County
New York
United States
Before 1960
19%
37%
52%
26%
1960–1979
27%
29%
22%
24%
1980–1999
23%
21%
14%
25%
2000–2009
17%
9%
6%
14%
2010 or later
14%
3%
6%
11%
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200KUnreliable
$200K–$300KUnreliable
$300K–$500K40%
$500K–$750K34%
$750K–$1M13%
$1M or moreUnreliable
Value of owner-occupied homes: Carmel and its comparisons
Measure
Carmel
Under $100K
Unreliable
$100K–$200K
Unreliable estimate
$200K–$300K
Unreliable estimate
$300K–$500K
40%
$500K–$750K
34%
$750K–$1M
13%
$1M or more
Unreliable
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$999Unreliable
$1,000–$1,49926%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Carmel and its comparisons
Measure
Carmel
Under $500
Unreliable estimate
$500–$999
Unreliable estimate
$1,000–$1,499
26%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$3,225 a month
Putnam County: $3,122 a month
Owners with a mortgage
62%
Putnam County: 64%
The typical cost for an owner with a mortgage in Carmel is $3,225 a month, near the figure in Putnam County ($3,122).
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
CarmelBoundaries changed
Putnam County+32%
New York+35%
United States+53%
Typical rent
CarmelBoundaries changed
Putnam County+22%
New York+27%
United States+33%
Typical household income
CarmelBoundaries changed
Putnam County+21%
New York+26%
United States+29%
Change since 2015–2019: Carmel and its comparisons
Measure
Carmel
Putnam County
New York
United States
Typical home value
Boundaries changed
+32%
+35%
+53%
Typical rent
Boundaries changed
+22%
+27%
+33%
Typical household income
Boundaries changed
+21%
+26%
+29%
The boundaries of Carmel changed since 2015–2019, so the Census does not compare its figures from then and now. In Putnam County, the typical home value rose 32%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Carmel and its comparisons
Measure
Carmel
Putnam County
New York
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
3.8%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
1.1%
0.9%
More than one person per room
Unreliable estimate
2.0%
5.3%
3.4%
People per household
2.46
2.68
2.49
2.53
Drive alone
67%
69%
49%
69%
Carpool
Unreliable estimate
7%
6%
9%
Public transit
Unreliable estimate
6%
22%
3%
Walk or bike
Unreliable estimate
2%
6%
3%
Work from home
14%
14%
15%
15%
Other means
Unreliable estimate
1%
2%
2%
Typical commute
Unreliable estimate
30 to 39 minutes
20 to 29 minutes
20 to 29 minutes
Fewer people live in each home here: 2.46 on average, against 2.68 in Putnam County.
To get to work, 67% of workers in Carmel drive alone; in Putnam County, 69%.
Do the math
What would you pay each month for a home in Carmel?
A typical home costs more than the typical income allows
We start with a typical home in Carmel, worth $488,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 47% of the typical household income in Carmel, which is $114,954 a year. For that payment to be 28% of income, a household would need to earn about $192,926 a year.
The calculator's FHA and conventional loan limits are those of all of Putnam County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Carmel. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $17,091 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$4,502
at 7.18% · 30 years
Loan amount
$479,455
Total interest
$689,823
Paid off in
November 2056
Includes $8,246 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,682 a month
Tight
$2,682 to $3,449 a month
Hard
more than $3,449 a month
Your payment · 47%
Compared with the typical household income in Carmel ($114,954 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$3,248
Property tax
$834
Home insurance
$204
FHA mortgage insurance (MIP)
$216
You need at least $17,091 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $4,502; principal and interest $3,248.
The city and its county
Carmel and Putnam County
Carmel is in Putnam County, New York. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Carmel
Map of Putnam County, New York, with Carmel marked. Around it, the neighboring counties.
Carmel
Putnam County
Other cities with a page
Carmel's own numbers
Typical home value
$488,300
Typical monthly rent
$1,150
Typical yearly household income
$114,954
Households that own their home
75%
Effective property tax rate
2.05%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Putnam County
FHA limit, one-unit home
$1,249,125
Conventional limit, one unit
$1,209,750
HUD fair market rent, 2 bedrooms
$2,971
Price change over 5 years (FHFA)
+48%
Homes in a high flood-risk zone
0.4%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Putnam County.
A typical home in Carmel is worth $488,300: 4% above the county and 15% above New York. With the typical household income in Carmel ($114,954 a year), a typical home costs 4.2 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Carmel4.2 years
Putnam3.7 years
New York4.9 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Putnam County
According to FHFA’s house price index, home prices in Putnam County rose 73% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Putnam County.
Yearly change in FHFA’s price index in Putnam County, 2016 to 2025
2016: +0.9% +0.9% 2016
2017: +4.8% +4.8% 2017
2018: +4.3% +4.3% 2018
2019: +1.4% +1.4% 2019
2020: +4.1% +4.1% 2020
2021: +9.8% +9.8% 2021
2022: +13.2% +13.2% 2022
2023: +4.0% +4.0% 2023
2024: +10.8% +10.8% 2024
2025: +3.7% +3.7% 2025
Change in FHFA’s price index in Putnam County, New York and the United States
Period
County
New York
U.S.
Last year (2025)
+3.7%
+6.0%
+2.9%
5 years (2020–2025)
+48%
+52%
+47%
10 years (2015–2025)
+73%
+86%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Carmel next to Putnam County, New York and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Carmel$488,300
Putnam$471,300
New York$423,800
United States$332,700
Typical monthly rent
Carmel$1,150
Putnam$1,775
New York$1,621
United States$1,413
Typical yearly household income
Carmel$114,954
Putnam$126,257
New York$85,974
United States$80,734
See the full table
Carmel next to Putnam County and New York
Measure
Carmel
Putnam County
New York
U.S.
Typical home value
$488,300 ▲4% above the county
$471,300
$423,800
$332,700
Typical monthly rent
$1,150 ▼35% below the county
$1,775
$1,621
$1,413
Typical yearly household income
$114,954 ▼9% below the county
$126,257
$85,974
$80,734
Households that own their home
75% ▼9 points below the county
84%
54%
65%
Typical yearly property tax
$10,001
$10,001
$6,582
$3,119
Effective property tax rate
2.05% ▼0.07 points below the county
2.12%
1.55%
0.94%
Renters with high rent for their income
47% ▼16 points below the county
62%
52%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Putnam County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Carmel
For a typical $488,300 home in Carmel, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Carmel's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$4,502a month
Least cash to close
Down payment
$17,091
Cash to close
$31,740
Rate
7.18%
Mortgage insurance
FHA MIP · $216
Conventional, 5% down$4,412a month
Down payment
$24,415
Cash to close
$39,064
Rate
7.18%
Mortgage insurance
PMI · $232
Conventional, 20% down, no PMI$3,684a month
Down payment
$97,660
Cash to close
$112,309
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$4,135a month
Down payment
$73,245
Cash to close
$87,894
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Carmel
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$4,502
$17,091
$479,456
7.18%
FHA MIP · $216
$31,740
580
Conventional, 5% down
$4,412
$24,415
$463,885
7.18%
PMI · $232
$39,064
620*
Conventional, 20% down, no PMI
$3,684
$97,660
$390,640
7.18%
None
$112,309
620*
ITIN, 15% down (example)
$4,135
$73,245
$415,055
8.18%
None
$87,894
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Carmel is $1,150 a month: 35% below the county. In Carmel, 47% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Putnam County, by unit size. To pay the 2-bedroom one ($2,971 a month) without spending more than 30% of your income, you would need to earn $57.13 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Putnam County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$2,593
$49.87
$103,720
1 bedroom
$2,729
$52.48
$109,160
2 bedrooms
$2,971
$57.13
$118,840
3 bedrooms
$3,760
$72.31
$150,400
4 bedrooms
$4,121
$79.25
$164,840
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Carmel
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Carmel is in ZIP code 10512.
For 2 bedrooms it is $2,620: $351 less than the fair market rent for Putnam County ($2,971).
Fair market rent by ZIP code and size in Carmel, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
10512
$2,280
$2,390
$2,620
$3,280
$3,570
ZIP code2 bd3 bd
10512 $2,620$3,280
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Carmel when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 6 buildings with rents for lower incomes in Carmel. These are the largest.
WB Hughson Commons1100 Gables Way, Carmel 1051294 low-income homes · 1 bd: 78 · 2 bd: 16 · In service since 2002 · For older adults, people with disabilities, families
Hillcrest Commons Senior Apts2000 Heights LN, Carmel 1051276 low-income homes · 1 bd: 60 · 2 bd: 16 · In service since 2012 · For older adults
Hillcrest Commons Phase 21000 Clapboard Ridge, Carmel 1051274 homes, 62 low-income · 1 bd: 56 · 2 bd: 18 · In service since 2020 · For older adults
Senior Housing at Mahopac Hills106 Route 6, Carmel 1051248 homes, 47 low-income · For older adults
Gleneida Court Phase II20 Gleneida Ct, Carmel 1051224 low-income homes · 1 bd: 23 · 2 bd: 1 · In service since 1999 · For older adults
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There is 1 HUD-approved agency with an office in Putnam County; 1 says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Carmel or Putnam County. The ones below are statewide in New York: they work in Carmel the same as in the rest of the state.
SONYMA second loan with no interest, forgiven after ten years, for the down payment with a SONYMA mortgage in New York.Offered by State of New York Mortgage Agency (SONYMA).
SONYMA mortgage at a very low fixed rate for low-income first-time buyers in New York, with a minimal down payment.Offered by State of New York Mortgage Agency (SONYMA).
No legal help resource on our list is for Carmel or Putnam County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Carmel and all of Putnam County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Carmel?
The typical home value in Carmel is $488,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Putnam County it is $471,300.
How much does it cost to rent in Carmel?
Typical rent in Carmel is $1,150 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Putnam County is $2,971.
What is the FHA loan limit in Carmel?
Carmel uses the FHA limit for all of Putnam County (2026): $1,249,125 for a one-unit home and $2,402,625 for a four-unit home.
How much property tax do owners pay in Carmel?
The typical homeowner in Carmel pays $10,001 a year, according to the U.S. Census Bureau. That is 2.05% of the home’s value; in Putnam County, the rate is 2.12%.
Where can I find free help to buy or rent in Carmel?
There is 1 HUD-approved counseling agency with an office in Putnam County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.
