New York Mortgage Calculator
Estimate your monthly payment on a New York home — pre-filled with the state's median price of about $480,000.
20.0% of the home price
Monthly Payment (P&I)
$2,427.14
Principal and interest only. Property taxes, homeowners insurance, PMI, and HOA dues are not included.
Buying in New York: the numbers
The median home in New York costs around $480,000. With a 20% down payment ($96,000) and a 30-year loan at 6.5%, principal and interest run about $2,427.14 per month. Add roughly $560 a month for property taxes at the state's effective rate, and the realistic payment lands near $2,987 — before homeowners insurance. Adjust the calculator above to your own price, down payment, and rate.
Property taxes in New York
New York's effective property tax rate of about 1.40% compares with a national average near 1.10%. Effective rates in New York vary enormously: upstate counties rank among the highest-taxed in the nation, while New York City's effective rate on small homes is comparatively low. The STAR program offers school-tax relief on primary residences. For an exact monthly figure on any home value, use the Property Tax Calculator, and confirm what you can responsibly spend with the Affordability Calculator.
Mortgage calculators by state
New York mortgage FAQs
What is the average property tax rate in New York?
New York's effective property tax rate is approximately 1.4%, compared with a national average of roughly 1.1%. On a median-priced NY home of about $480,000, that works out to roughly $6,720 per year.
What does a typical mortgage payment look like in New York?
On a median-priced $480,000 home with 20% down and a 30-year loan at 6.5%, principal and interest come to about $2,427.14 per month, plus roughly $560 in monthly property taxes — before insurance and any HOA dues.
Does this calculator include New York property taxes?
The calculator shows principal and interest. To add taxes, apply New York's effective rate of about 1.4% to your target home value — our Property Tax Calculator does this for you and breaks it into a monthly amount.
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