Newfane, NY
Population 3,470 · New York
About Newfane, NY
Newfane is a small town located in New York with a population of 3,470 residents according to the latest US Census Bureau American Community Survey data. The median household income is $75,049 per year, which is 0% below the national median of $75,149. The median age of 37.4 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Newfane features a median home value of $143,500, which is 41% below the national median of $244,900. This makes Newfane one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $836, 28% below the national average of $1,163/month. Of the 1,461 total housing units, 78% are owner-occupied (1,090 units) and 22% are renter-occupied (314 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Newfane shows an unemployment rate of 1.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Newfane have an average one-way commute time of 25.1 minutes.
Education & Demographics
28.3% of Newfane residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.0% White, 0.8% Hispanic or Latino, 0.0% Black or African American, and 0.3% Asian residents, with 1.0% of the population being foreign-born.
Cost of Living in Newfane, NY
Compared to national averages, Newfane has a median household income of $75,049 (0% below the national median of $75,149). Home values average $143,500, which is 41% below the national median. Monthly rent at $836 is 28% below the US average of $1,163. Within New York, Newfane's income is 23% below the state average of $96,987, and home values are 63% below the state median of $387,181.
Why Live in Newfane, NY?
Newfane offers affordable housing with a median home value of $143,500, below the US average of $244,900, and rent that’s lower than the national average at $836/month, and a strong job market with an unemployment rate of just 1.4%. Additionally, the city features a low poverty rate of 6.2%, better than the national average.
Potential considerations include median household income ($75,049) that falls below the national average. However, Newfane’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Newfane has a population of 3,470 with a median age of 37.4 years. Compare Newfane with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Newfane
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| West Sand Lake | 3,453 | $126,595 | $322,300 | Compare |
| Muttontown | 3,496 | $247,589 | $1,876,900 | Compare |
| West Nyack | 3,437 | $136,696 | $570,900 | Compare |
| Lowville | 3,432 | $73,656 | $159,600 | Compare |
| Perry | 3,515 | $63,587 | $109,400 | Compare |
| Village Green | 3,518 | $58,059 | $149,800 | Compare |
| Hurley | 3,420 | $87,750 | $327,100 | Compare |
| Fairview CDP (Westchester County), New York | 3,522 | $86,071 | $463,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Newfane With Other Cities
Frequently Asked Questions about Newfane
What is the population of Newfane, NY?
The population of Newfane, NY is 3,470 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New York.
What is the median household income in Newfane?
The median household income in Newfane, NY is $75,049 per year, which is 0% below the national median of $75,149.
What is the median home value in Newfane?
The median home value in Newfane, NY is $143,500, which is 41% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Newfane?
The median monthly rent in Newfane, NY is $836, which is 28% below the national average of $1,163/month.
What is the unemployment rate in Newfane?
The unemployment rate in Newfane, NY is 1.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Newfane, NY a good place to live?
Newfane offers a moderate cost of living, affordable housing, and a strong job market. With a population of 3,470 and a median age of 37.4, the city appeals to a broad range of residents.
How educated is Newfane, NY?
28.3% of residents in Newfane aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Newfane?
Key cost-of-living indicators for Newfane, NY: median home value is $143,500 (41% below national), median rent is $836/month, and median household income is $75,049. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Newfane?
The poverty rate in Newfane, NY is 6.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Newfane, NY?
Newfane's population is 0.0% White, 0.8% Hispanic or Latino, 0.0% Black or African American, 0.3% Asian, and 0.9% two or more races. 1.0% of residents are foreign-born.