Calculate your monthly mortgage payment in New York. Pre-filled with New York's median home price of $470,000 and an average property tax rate of 1.72%.
Est. Monthly Payment
$3,319
Principal & Interest
$2,449
Property Tax / mo
$674
Total Interest Paid
$505,544
| Home Price | $470,000 | Median home price in New York (2025) |
| Down Payment | 20% ($94,000) | Typical down payment percentage |
| Loan Amount | $376,000 | Home price minus down payment |
| Interest Rate | 6.79% | Approximate 30-year fixed rate (2025 avg) |
| Loan Term | 30 years | Most common mortgage term |
| Property Tax | 1.72% / year | New York average effective rate |
| Home Insurance | 0.5% / year | Approximate annual premium |
SONYMA Conventional Plus, DPAL, Achieving the Dream
Cost of living: Very High · Population: 20,201,249
New York has a median home price of approximately $470,000, placing it above the national median. With a 20% down payment of $94,000, a typical buyer would finance $376,000 over 30 years. At a 6.79% fixed rate, the monthly principal and interest payment comes to $2,449.
Property taxes in New York average 1.72% of the assessed home value annually — one of the higher rates in the country. Combined with an estimated $196 for homeowners insurance, your all-in monthly housing cost is approximately $3,319.
Using the 28% housing cost guideline, you would need a gross annual income of approximately $142,231 to qualify comfortably. The median household income in New York is $72,108.
