New York County Mortgage Calculator
On the New York County median home price of $1,109,000, a 20%-down, 30-year loan at today's 6.47% rate runs about $6,562/month — $5,590 principal & interest, $832 property tax at New York County's 0.9% effective rate, and $140 homeowners insurance. That is about $370/month less than the New York state-average tax rate would cost on the same home. Enter your own price and down payment below.
$6,562 /mo
P&I: $5,590 · Tax: $832 · Insurance: $140
Loan amount: $887,200 · Total interest: $1,125,277
Yearly amortization schedule
| Year | Interest | Principal | PMI | Balance |
|---|---|---|---|---|
| 1 | $57,110 | $9,973 | — | $877,227 |
| 2 | $56,445 | $10,638 | — | $866,589 |
| 3 | $55,736 | $11,347 | — | $855,242 |
| 4 | $54,979 | $12,103 | — | $843,139 |
| 5 | $54,173 | $12,910 | — | $830,229 |
| 6 | $53,312 | $13,770 | — | $816,459 |
| 7 | $52,394 | $14,688 | — | $801,771 |
| 8 | $51,415 | $15,667 | — | $786,104 |
| 9 | $50,371 | $16,711 | — | $769,392 |
| 10 | $49,257 | $17,825 | — | $751,567 |
| 11 | $48,069 | $19,013 | — | $732,553 |
| 12 | $46,802 | $20,281 | — | $712,273 |
| 13 | $45,450 | $21,633 | — | $690,640 |
| 14 | $44,008 | $23,074 | — | $667,566 |
| 15 | $42,470 | $24,612 | — | $642,953 |
| 16 | $40,830 | $26,253 | — | $616,700 |
| 17 | $39,080 | $28,003 | — | $588,698 |
| 18 | $37,213 | $29,869 | — | $558,828 |
| 19 | $35,222 | $31,860 | — | $526,968 |
| 20 | $33,099 | $33,984 | — | $492,984 |
| 21 | $30,834 | $36,249 | — | $456,735 |
| 22 | $28,418 | $38,665 | — | $418,070 |
| 23 | $25,840 | $41,242 | — | $376,828 |
| 24 | $23,091 | $43,991 | — | $332,837 |
| 25 | $20,159 | $46,923 | — | $285,914 |
| 26 | $17,032 | $50,051 | — | $235,863 |
| 27 | $13,696 | $53,387 | — | $182,476 |
| 28 | $10,137 | $56,945 | — | $125,531 |
| 29 | $6,342 | $60,741 | — | $64,790 |
| 30 | $2,293 | $64,790 | — | $0 |
Rates: Freddie Mac PMMS (wk 2026-06-18). Property tax: Tax Foundation. Insurance: Insurance.com. PMI applies when your down payment is under 20% (LTV > 80%). You can request cancellation at 80% LTV; the servicer must auto-terminate it at 78% (Homeowners Protection Act). How we calculate →
Monthly payment breakdown for a New York County home
At the New York County median home price of $1,109,000, a conventional 30-year loan at 6.47% with 20% down splits into: $5,590 principal & interest, $832 property tax, and $140 homeowners insurance — a total PITI of $6,562/month.
The property tax line uses New York County's real effective rate of 0.9% (median tax bill of $10,001 on a median home value of $1,108,900, US Census ACS), not a generic national average — so this figure reflects what New York County actually charges, before any local exemption.
New York County vs the New York state average property tax rate
New York County's 0.9% effective property tax rate is below New York's 1.3% state average. On the same $1,109,000 home, that difference works out to $370/month less in the tax line of the mortgage payment compared with paying the New York average rate instead of New York County's.
Property tax is set locally — by the county, city and school district — so the state average is only a rough guide. Two otherwise identical New York homes in different counties can carry meaningfully different monthly payments purely because of where the tax rate lands.
What the New York County median buys vs a $400,000 national budget
A $400,000 home taxed at New York County's 0.9% rate and insured at New York's average would run about $2,457/month — $4,106 less than the New York County county median payment of $6,562/month, since New York County's median home price ($1,109,000) is $709,000 above the $400,000 reference used elsewhere on this site.
In other words, price — not tax rate — usually drives the biggest gap between a New York County payment and a generic national estimate. Use the calculator above to swap in your own target price.
PMI in New York County if you put down less than 20%
Putting 10% down instead of 20% on the same $1,109,000 New York County home adds private mortgage insurance (PMI) of about $665/month, bringing the total payment to roughly $7,926/month instead of $6,562. PMI is required on conventional loans below 20% down and cancels automatically once your loan balance reaches 78% of the original price.
New York County mortgage — frequently asked questions
How much is a mortgage payment in New York County?
On the New York County median home price of $1,109,000, a 20%-down 30-year loan at 6.47% runs about $6,562/month total (principal, interest, property tax and insurance).
What is the property tax on the median home in New York County?
New York County's effective property tax rate is 0.9%, which works out to about $832/month ($9,981/year) on the $1,109,000 county median home value.
How does New York County property tax compare to the rest of New York?
New York County's 0.9% effective rate is below the New York state average of 1.3%, a difference of about $370/month on a $1,109,000 home.
What income do I need to afford a home in New York County?
Using the common 28%-of-gross-income guideline against the $6,562/month PITI payment on the New York County median home, that implies a gross annual income of roughly $281,238.
How much does PMI cost in New York County with less than 20% down?
Putting 10% down on the $1,109,000 New York County median home adds about $665/month in PMI, for a total payment near $7,926/month instead of $6,562.
What's included in a New York County mortgage payment?
PITI: principal and interest together $5,590, property tax $832 at New York County's 0.9% rate, and homeowners insurance $140 at the New York state average — no HOA dues assumed unless you add them above.
More New York counties in this pilot
New York mortgage calculator · New York County property tax deep-dive — the full county-by-county property tax breakdown behind this payment estimate.
Mortgage calculators in other pilot counties
Researched & verified by the Calcuris Data & Research Team. How we build and check our tools →