Mortgage Rates in Clay, New York — April 2026
Updated April 2026 | Based on Clay market data and regional lending conditions
With a population of 58,805, Clay, New York offers a higher cost of living that reflects strong local demand. The current 30-year fixed rate here is 6.86% (0.77% above the national average). The median home price of $452,000 translates to roughly $3,035/month with 20% down — requiring an income of about $130,071, which exceeds the local median of $77,000.
Whether you call it a 30-year mortgage, 30-year home loan, 30-year house loan, or 30-year mortgage loan, the underlying product is the same: a fixed-rate amortizing loan paid over 360 months. In Clay, NY, the current 30-year rate is 6.86%. Shorter terms (15-year fixed at 6.07% or 20-year fixed, typically priced between the 15- and 30-year) reduce total interest paid but increase monthly payments — see our 15-year vs 30-year comparison for the math. Government-backed options include FHA loans (6.55%) and VA loans (6.3%), often available at lower rates with reduced down payment requirements.
Current Mortgage Rates in Clay, NY
Below are the current average mortgage rates available in the Clay area as of April 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.86% | 6.09% | +0.77% |
| 15-Year Fixed | 6.07% | 5.58% | +0.49% |
| 5/1 ARM | 6.31% | 5.95% | +0.36% |
| FHA | 6.55% | 5.85% | +0.7% |
| VA | 6.3% | 5.65% | +0.65% |
| Jumbo | 7.11% | 6.25% | +0.86% |
Clay Housing Market Overview
Housing in Clay sits near the national average at $452,000. With a median household income of $77,000 and a cost of living index of 137.7, some buyers may need to look at lower price points or consider larger down payments.
Monthly Payment Breakdown for Clay
Based on the median home price of $452,000 with 20% down ($90,400), here is what you can expect to pay monthly in Clay:
15-Year vs. 30-Year Mortgage in Clay
Choosing a 15-year mortgage in Clay at 6.07% instead of a 30-year at 6.86% would save you $302,220 in total interest over the life of the loan. However, your monthly payment would be $3,065 instead of $2,372 — an increase of $693 per month.
Calculate Your Clay Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Clay
What are the current mortgage rates in Clay, NY?
As of April 2026, the average 30-year fixed mortgage rate in Clay, New York is 6.86%, while the 15-year fixed rate is 6.07%. FHA loans average 6.55% and VA loans 6.3%. These rates are 0.77% above the national average of 6.09%.
How much is a monthly mortgage payment in Clay?
Based on the median home price of $452,000 with 20% down, the estimated monthly mortgage payment in Clay is $2,372 for principal and interest. Including property taxes of $663/month, the total monthly housing cost is approximately $3,035.
What income do I need to buy a home in Clay?
Using the 28% rule, you would need an annual income of approximately $130,071 to afford the median-priced home in Clay at $452,000. The median household income in Clay is $77,000. This means most households would need to either earn above the median or consider homes below $452,000.
Is Clay a good place to buy a home in 2026?
Clay has a higher cost of living than average with a cost of living index of 137.7 (national average = 100). The property tax rate in New York is 1.76%, which is above the national average. Clay has a population of 58,805 and offers a balanced lifestyle.
Mortgage Rates in Other New York Cities
Related Tools & Guides
📊 Sources & Methodology
- 30-yr/15-yr fixed rates: Freddie Mac Primary Mortgage Market Survey (PMMS), weekly national average adjusted for New York regional spread.
- Median home price: $452,000 sourced from Redfin / Zillow real estate listings (2026 data).
- Property tax rate: 1.76% effective rate per Tax Foundation 2026 state property tax data.
- Median household income: $77,000 per US Census Bureau ACS 5-year estimate.
- Calculations: standard amortization formula M = P[r(1+r)^n] / [(1+r)^n − 1], with r = monthly rate, n = 360 months, P = loan amount (80% of home price).
Last updated: April 2026. Rates are approximate averages based on regional lending data for the Clay, New York area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.