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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.

A $424,000 home with 20% down ($339,200 borrowed) at 7.28% over 30 years costs about $3,036 a month: $2,321 principal and interest plus $715 of tax, insurance and dues.

Monthly payment
$3,036.24
Principal and interest
$2,320.85
Tax, insurance, PMI and HOA
$715.39
Total interest over the loan
$496,305
Loan balance and interest paid over 30 years at 7.28%$0$100k$200k$300k$400k$500k051015202530Years━Balance owed━Interest paid so far
Download the schedule (CSV)
Amortization by year: $339,200 at 7.28%
YearInterestPrincipalBalance
1$24,586.28$3,263.89$335,936.11
2$24,340.58$3,509.60$332,426.51
3$24,076.38$3,773.80$328,652.71
4$23,792.29$4,057.88$324,594.83
5$23,486.82$4,363.36$320,231.47
6$23,158.35$4,691.82$315,539.65
7$22,805.16$5,045.02$310,494.63
8$22,425.37$5,424.80$305,069.82
9$22,017.00$5,833.18$299,236.65
10$21,577.88$6,272.29$292,964.36
11$21,105.71$6,744.46$286,219.89
12$20,598.00$7,252.18$278,967.71
13$20,052.06$7,798.11$271,169.60
14$19,465.03$8,385.15$262,784.45
15$18,833.80$9,016.37$253,768.08
16$18,155.06$9,695.12$244,072.96
17$17,425.22$10,424.95$233,648.01
18$16,640.44$11,209.73$222,438.28
19$15,796.59$12,053.59$210,384.69
20$14,889.21$12,960.97$197,423.72
21$13,913.52$13,936.66$183,487.06
22$12,864.38$14,985.79$168,501.27
23$11,736.27$16,113.91$152,387.37
24$10,523.23$17,326.94$135,060.42
25$9,218.88$18,631.30$116,429.13
26$7,816.34$20,033.84$96,395.29
27$6,308.21$21,541.96$74,853.32
28$4,686.56$23,163.62$51,689.70
29$2,942.83$24,907.35$26,782.35
30$1,067.83$26,782.35$0.00

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 pricePrincipal and interestProperty taxTotal
$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.

What it assumes

  • Home insurance varies a lot by state and area; enter your quote.
  • County property tax rates differ from the state figure; see the county pages.

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.

Mortgage calculator by state

Related calculators

  • Mortgage CalculatorYour full monthly mortgage payment: principal and interest, property tax, insurance, PMI and HOA dues, at this week's average rate, with a yearly amortization schedule.
  • New York Property Tax CalculatorNew York homeowners pay a median $6,582 a year in property tax, 1.55% of a median $423,800 home: the 6th highest effective rate of the 50 states and DC.
  • Home Affordability CalculatorThe home price your income supports under the 28/36 guideline lenders use, counting your other debts, down payment, taxes and insurance, at this week's average rate.

Sources

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