CALCMONEY // MORTGAGE // CA // SANTA MONICA
Calculate your monthly mortgage payment using Santa Monica-specific property tax rates and local market data.
$2,400,000
6.85%
0.72%
215
| Principal & Interest | $12,581 |
| Property Tax | $1,440 |
| Homeowners Insurance (est.) | $800 |
| Total Monthly Payment (PITI) | $14,821 |
$480,000
$2,609,152
$635,185/yr
Santa Monica's median home price sits at $2,400,000, 471% above the $420,000 national median. On a $415,000 median household income, that puts the price-to-income ratio at 5.8x, or 5.8 years of gross pay for the purchase price alone.
At a 0.72% effective rate, Santa Monica property taxes add $1,440 to the monthly payment on the median home, $17,280 a year in total.
Unlike the nine no-income-tax states, California taxes wage income. Worth running your actual take-home pay against the $14,821/month payment here before locking in a target price.
Day-to-day expenses in Santa Monica track at 215 against the national 100 baseline, above average once you look past the mortgage payment itself.
Santa Monica's median home price runs 168% higher than nearby Los Angeles: $895,000 there versus $2,400,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $1,920,000 loan saves $86,400 in interest over 30 years.
Compare Top Santa Monica Mortgage LendersLos Angeles
$895,000 median
CASan Diego
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CASacramento
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Neighborhood-level data for 1 ZIP codes in Santa Monica. Rates, home prices, and estimated payments vary by area.