New York Mortgage Calculator
This planning example uses a $449,800 home value—the 2024 ACS median for owner-occupied homes in New York—with 20% down and a 30-year fixed mortgage. The rate is the Freddie Mac national weekly average as of July 30, 2026; it is not a New York rate, a personal quote or an offer to lend. Customize the inputs with a property-specific tax bill, insurance quote and lender rate.
State planning scenario
| Down payment (20%) | $89,960 |
|---|---|
| Mortgage principal | $359,840 |
| 30-year fixed rate | 6.66% |
| Principal & interest | $2,312.43/month |
| Property tax | $545.16/month |
| Homeowners insurance | $135.67/month |
| PMI | $0.00/month |
| HOA dues | $0.00/month |
| Estimated total | $2,993.25/month |
PMI is $0 in this example because the starting loan-to-value ratio is 80%. Change the down payment in the calculator to model a higher LTV. HOA dues default to $0 because there is no reliable statewide amount.
What is localized for New York?
| Median owner-occupied home value | $449,800 (ACS 2024) |
|---|---|
| Property-tax planning proxy | 1.45% (ACS 2024) |
| Annual HO-3 insurance average | $1,628 (NAIC 2022) |
The tax percentage is median annual real-estate taxes paid divided by median home value. It is a ratio of statewide medians—not a statutory rate or a parcel-level effective rate. The insurance figure is a historical statewide average across policies and coverage amounts, not a current quote. Flood, earthquake, wind or other separate coverage may not be included.
How New York compares with the rest of the country
The median owner-occupied home in New York is 25% above the national median of $360,600, which makes it the 12th-most expensive state of the 50. The property-tax proxy ranks 5th and the homeowners-insurance average ranks 18th. Together, taxes and insurance account for 23% of the monthly payment modelled above.
| Planning input | New York | National | Rank |
|---|---|---|---|
| Median home value | $449,800 | $360,600 | 12th |
| Property-tax proxy | 1.45% | 0.89% | 5th |
| Annual insurance average | $1,628 | $1,569 | 18th |
Rank 1 is the highest of the 50 states. Carrying the payment above at the standard 28% front-end ratio takes roughly $128,000 of annual household income before other debts — see house affordability by income to work backwards from what you earn.
States with a similar median home value: Arizona, Maryland, Idaho, Nevada.
What to check before trusting this estimate in New York
Property tax is doing unusual work here. New York ranks 5th of the 50 states on the tax proxy, and the median owner pays about $6,542 a year. Statewide medians hide most of what decides your own bill: the assessment ratio, the county and municipal rates stacked on the parcel, and any homestead or senior exemption you qualify for. Pull the actual tax bill for the address from the county assessor before you commit — in a high-tax state the difference between two neighbouring jurisdictions can outweigh a quarter point of rate.
Homebuyer resources in New York
New York State Homes and Community Renewal is the state's housing finance agency. Programs, funding, income limits, purchase-price limits and eligibility can change; verify details directly with the agency before relying on them.
2026 county loan limits
In most of the United States, the 2026 one-unit conforming baseline is $832,750, with a general high-cost ceiling of $1,249,125. The general one-unit FHA floor is $541,287 and the general ceiling is $1,249,125. County limits vary, and higher special statutory limits apply in Alaska and Hawaii. Check the property county in the FHFA conforming-limit files and HUD's FHA limit lookup.
Sources and limitations
- U.S. Census Bureau ACS, median home value
- U.S. Census Bureau ACS, real-estate taxes paid
- NAIC homeowners insurance report
- NCSHA state housing finance agency directory
Review our calculator methodology and test examples and source definitions and formula changelog. Replace every default with a property tax bill, insurance quote and lender Loan Estimate before making a decision.
