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New York mortgage calculator

Pre-filled for New York: the median home value ($450,000) and the state's effective property tax rate of 1.45%. Change anything to match your home.

Home price
Down payment$90,000
%
Interest rateAPR, fixed
%
Loan term
Extra monthly paymenttoward principal
/ mo

Estimated monthly payment

$2,969.19

Loan $360,000 · 20% down

  • Principal & interest$2,275.44
  • Property tax$543.75
  • Home insurance$150.00
See the month-by-month schedule →
Total interest
$459,164
Total cost
$1,068,914
Payoff time
30 yr
PMI paid
None

Principal vs. interest by year

1: Principal 4,024, Interest 23,28212: Principal 4,293, Interest 23,0123: Principal 4,581, Interest 22,7254: Principal 4,888, Interest 22,41845: Principal 5,215, Interest 22,0906: Principal 5,564, Interest 21,7417: Principal 5,937, Interest 21,3698: Principal 6,334, Interest 20,97189: Principal 6,759, Interest 20,54710: Principal 7,211, Interest 20,09411: Principal 7,694, Interest 19,61112: Principal 8,209, Interest 19,0961213: Principal 8,759, Interest 18,54614: Principal 9,346, Interest 17,95915: Principal 9,972, Interest 17,33416: Principal 10,640, Interest 16,6661617: Principal 11,352, Interest 15,95318: Principal 12,112, Interest 15,19319: Principal 12,924, Interest 14,38220: Principal 13,789, Interest 13,5162021: Principal 14,713, Interest 12,59322: Principal 15,698, Interest 11,60723: Principal 16,749, Interest 10,55624: Principal 17,871, Interest 9,4342425: Principal 19,068, Interest 8,23726: Principal 20,345, Interest 6,96027: Principal 21,707, Interest 5,59828: Principal 23,161, Interest 4,1442829: Principal 24,712, Interest 2,59330: Principal 26,373, Interest 93830
PrincipalInterest

Amortization schedule by year

YearPrincipalInterestBalance
1$4,024$23,282$355,976
2$4,293$23,012$351,683
3$4,581$22,725$347,102
4$4,888$22,418$342,215
5$5,215$22,090$337,000
Monthly payment$2,969.19

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New York at a glance

Effective property tax
1.45%
Rank (1 = highest)
5th of 51
Median home value
$449,800
Median tax bill
$6,542/yr

On the same $400,000 home, property tax in New York adds about $483.33/month, versus $296.67/month at the national rate.

New York mortgage payments by home price

Home pricePrincipal & interestProperty taxTotal / month
$225,000$1,137.72$271.87$1,559.59
$350,000$1,769.79$422.92$2,342.71
$450,000(median)$2,275.44$543.75$2,969.19
$675,000$3,413.17$815.62$4,378.79
$900,000$4,550.89$1,087.50$5,788.39

20% down, 6.5% 30-year fixed (example rate), 1.45% property tax, $1,800/yr insurance, no HOA. Also see: how much house you can afford in New York.

Mortgage calculators for other states

Assumptions

  • Fixed interest rate for the full term.
  • Property tax, insurance and HOA stay constant (in reality they usually rise over time).
  • PMI applies only when the loan is over 80% of the home price, and stops once the balance reaches 78% of the original price.
  • Extra payments go entirely to principal.
  • New York figures: Effective rate = ACS median real estate taxes paid ÷ ACS median value, owner-occupied housing units, by state. Source: US Census Bureau ACS 2024.

Frequently asked questions

What is the property tax rate in New York?+

The effective property tax rate in New York is about 1.45% of home value a year (median taxes paid $6,542 on a median home worth $449,800). That's the 5th highest of 50 states and DC, and higher than the national 0.89%. Your actual bill depends on your county, city and exemptions.

What's the mortgage payment on a median-priced home in New York?+

For a $450,000 home with 20% down at an example 6.5% 30-year rate, the payment is about $2,969.19 a month, including $543.75 of property tax and $150.00 of insurance.

How much income do I need to buy a home in New York?+

To afford the median New York home ($450,000) under the 28/36 guideline with 10% down and no other debts, you'd need roughly $147,000 a year in gross income at a 6.5% rate.

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Last reviewed October 14, 2026. Calculator version 1.0.0. Sources: US Census Bureau, ACS 2024 1-year, Table B25103 (Median Real Estate Taxes Paid) · US Census Bureau, ACS 2024 1-year, Table B25077 (Median Value, Owner-Occupied). Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.