CALCMONEY // MORTGAGE // NY
Calculate your monthly mortgage payment using New York-specific property tax rates, current average interest rates, and local median home prices.
Open Full Calculator$445,000
6.95%
1.72%
4%–10.9%
How today's 6.95% rate compares to recent years
| Period | 30-Yr Rate | vs. Today |
|---|---|---|
| 2026 (current) | 6.95% | — |
| 2024 avg | 7.37% | -0.42% |
| 2023 avg | 7.80% | -0.85% |
| 2022 peak | 7.63% | -0.68% |
| 2021 avg | 3.55% | +3.40% |
| 2020 avg | 3.35% | +3.60% |
Rate estimates based on Freddie Mac Primary Mortgage Market Survey national averages adjusted for New York market conditions. Actual rates vary by lender and borrower profile.
| Principal & Interest | $2,357 |
| Property Tax | $638 |
| Homeowners Insurance (est.) | $148 |
| Total Monthly Payment (PITI) | $3,143 |
$89,000
$492,352
$134,687/yr
The median home price in New York is $445,000, above the national median of $420,000. With a median household income of $75,900, the price-to-income ratio is 5.9x.
Property taxes in New York average 1.72% of assessed value. On the median home, that is $7,654 per year, or $638 per month added to your mortgage payment. This is significantly above the national average of 1.1%, making property taxes a major factor in your total housing cost.
New York has a state income tax of 4%–10.9%. Factor this into your take-home pay when calculating how much mortgage you can afford.
The cost of living index in New York is 139 (national average = 100). Expect to pay more for groceries, transportation, and healthcare in addition to housing.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $356,000 loan saves $16,020 in interest over 30 years.
Compare Top New York Mortgage Lenders