Cost of Living & Housing in Malone
Malone's cost of living pairs genuinely affordable housing with a modestly above-median property tax rate and New York's simple advantage for a village this size -- no separate local income tax.
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Learn moreGenuinely affordable housing relative to New York statewide
Malone's typical home value ran $163,545 per Zillow (up 2.7% YoY), with a separate, lower 2024-dated citation ($107,600) disclosing a real methodology gap. The broader Franklin County market ran a median sale price near $159,000 as of March 2026, up a notably rapid 20.7% YoY (base record).
A property tax rate modestly above the New York statewide median
Malone's own median effective property tax rate ran 1.93% per Ownwell, closely tracking Franklin County's own broader 1.90% average -- both modestly above the New York statewide median (1.90%) and the national median (1.02%). The county's median annual tax bill ($2,503) runs modestly above the national median bill (base record).
No separate local income tax
Malone levies NO separate local income tax, consistent with nearly every New York municipality outside New York City and Yonkers. New York's real, graduated 9-bracket state income tax (2026: 3.9% to 10.9%) still applies fully, alongside a combined 8% sales tax rate (4% state plus Franklin County's 4% local add-on) (base record).
A real, current statewide prison-system scale-back worth understanding
Because Malone's local economy runs substantially on three state correctional facilities, this record discloses honestly that New York's prison system has been genuinely scaled back in recent years -- a real, current factor in the area's broader cost-of-living and employment picture worth understanding before relocating for work (base record).
Key takeaways
- Malone's typical home value ($163,545) runs well below the New York statewide average.
- Malone carries a property tax rate (1.93%) running modestly above the New York statewide median (1.90%).
- Malone levies no separate local income tax, on top of New York's graduated state income tax.
- A real, disclosed statewide prison-system scale-back is a relevant local economic factor given Malone's correctional-facility employment base.
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