Home and mortgage

New York Mortgage Calculator

Your monthly mortgage payment in New York, with New York's effective property tax rate (1.55%) built in, at this week's average rate. The calculator starts at the state's median home value, $423,800.

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Home priceDown paymentInterest rateStarts at this week's national averageLoan termProperty taxA year, as a share of the price; about 1% is typical, varying widely by countyHome insurance a yearMortgage insurance (PMI)A year, on the loan, only below 20% downHOA dues a month

Monthly payment$3,013.25The answer

Monthly payment

$3,013.25

A $424,000 home with 20% down ($339,200 borrowed) at 7.18% over 30 years costs about $3,013 a month: $2,298 principal and interest plus $715 of tax, insurance and dues.

Principal and interest: $2,297.86
Tax, insurance, PMI and HOA: $715.39
Total interest over the loan: $488,029

Amortization by year: $339,200 at 7.18%

Year	Interest	Principal	Balance
1	$24,246.46	$3,327.85	$335,872.15
2	$23,999.50	$3,574.81	$332,297.35
3	$23,734.21	$3,840.10	$328,457.25
4	$23,449.24	$4,125.07	$324,332.18
5	$23,143.11	$4,431.20	$319,900.98
6	$22,814.27	$4,760.04	$315,140.95
7	$22,461.03	$5,113.28	$310,027.66
8	$22,081.57	$5,492.74	$304,534.92
9	$21,673.95	$5,900.36	$298,634.56
10	$21,236.08	$6,338.23	$292,296.33
11	$20,765.71	$6,808.59	$285,487.74
12	$20,260.44	$7,313.86	$278,173.87
13	$19,717.68	$7,856.63	$270,317.24
14	$19,134.63	$8,439.68	$261,877.57
15	$18,508.32	$9,065.99	$252,811.58
16	$17,835.53	$9,738.78	$243,072.79
17	$17,112.81	$10,461.50	$232,611.29
18	$16,336.45	$11,237.86	$221,373.44
19	$15,502.48	$12,071.82	$209,301.61
20	$14,606.63	$12,967.68	$196,333.93
21	$13,644.29	$13,930.02	$182,403.91
22	$12,610.53	$14,963.78	$167,440.14
23	$11,500.06	$16,074.25	$151,365.89
24	$10,307.18	$17,267.12	$134,098.77
25	$9,025.78	$18,548.53	$115,550.24
26	$7,649.28	$19,925.03	$95,625.21
27	$6,170.63	$21,403.67	$74,221.54
28	$4,582.26	$22,992.05	$51,229.49
29	$2,876.00	$24,698.31	$26,531.18
30	$1,043.13	$26,531.18	$0.00

Download the schedule (CSV)

This week's mortgage rates

Monthly payment in New York by home price (20% down, 7%, 30 years, 1.55% tax, $2,000 insurance)

Home price	Principal and interest	Property tax	Total
$210,000	$1,118	$272	$1,556
$320,000	$1,703	$414	$2,284
$420,000	$2,235	$544	$2,946
$640,000	$3,406	$828	$4,401
$850,000	$4,524	$1,100	$5,791

How this calculator works

As the mortgage calculator, with New York's effective property tax rate from the Census Bureau's American Community Survey 2020–2024 5-year estimates: median taxes $6,582 ÷ median value $423,800.

Questions people ask

What is the mortgage payment on a median home in New York?

On $423,800 with 20% down at 7% over 30 years: about $2,256 principal and interest and $548 of property tax, $2,971 a month with $2,000 a year of insurance.

What is the median home value in New York?

$423,800 for owner-occupied homes (Census American Community Survey 2020–2024 5-year estimates), against $332,700 nationally.

How much is property tax in New York?

The effective rate is 1.55%, a median $6,582 a year. See New York's property tax page for every county we cover.

How much income do I need for a median New York home?

Under the 28% guideline, about $127,319 a year for the payment above; New York's median household income is $85,974.

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Sources

Updated Sep 30, 2026 by the RateHerald team. The maths is tested against worked examples; report a problem.