New York City, NY Mortgage Calculator
In New York City, New York, the median home is around $760,000. With 20% down at 6.85% and New York's ~1.73% effective property-tax rate, the all-in monthly payment is roughly $5,301.32 including principal, interest, property tax, and insurance.
Payment breakdown
- Principal & interest$3,983.98
- Property tax$696.67
- Home insurance$221.67
Balance over time
| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $6,357 | $41,451 | $601,643 |
| 2 | $6,806 | $41,002 | $594,837 |
| 3 | $7,287 | $40,520 | $587,549 |
| 4 | $7,803 | $40,005 | $579,747 |
| 5 | $8,354 | $39,454 | $571,393 |
| 6 | $8,945 | $38,863 | $562,448 |
| 7 | $9,577 | $38,231 | $552,871 |
| 8 | $10,254 | $37,554 | $542,617 |
| 9 | $10,979 | $36,829 | $531,638 |
| 10 | $11,755 | $36,053 | $519,883 |
| 11 | $12,586 | $35,222 | $507,297 |
| 12 | $13,476 | $34,332 | $493,821 |
| 13 | $14,428 | $33,379 | $479,393 |
| 14 | $15,448 | $32,359 | $463,944 |
| 15 | $16,540 | $31,267 | $447,404 |
| 16 | $17,710 | $30,098 | $429,694 |
| 17 | $18,962 | $28,846 | $410,732 |
| 18 | $20,302 | $27,506 | $390,430 |
| 19 | $21,737 | $26,070 | $368,693 |
| 20 | $23,274 | $24,534 | $345,419 |
| 21 | $24,919 | $22,889 | $320,500 |
| 22 | $26,681 | $21,127 | $293,819 |
| 23 | $28,567 | $19,241 | $265,252 |
| 24 | $30,586 | $17,221 | $234,665 |
| 25 | $32,749 | $15,059 | $201,917 |
| 26 | $35,064 | $12,744 | $166,853 |
| 27 | $37,542 | $10,265 | $129,310 |
| 28 | $40,196 | $7,611 | $89,114 |
| 29 | $43,038 | $4,770 | $46,076 |
| 30 | $46,076 | $1,727 | $0 |
Frequently asked questions
What's a typical mortgage payment in New York City, NY?
On a median New York City home (about $760,000) with 20% down at 6.85%, the full monthly payment is roughly $5,301.32 — principal, interest, New York property tax, and insurance.
How much do you need to earn to buy a home in New York City?
Using the 28% housing rule, a $5,301.32 payment fits an income near $227,199 a year, before accounting for your other debts.
What are property taxes like in New York City?
New York's effective property-tax rate averages about 1.73% of home value — roughly $13,148 a year on a $760,000 home. Local rates vary by county and city assessment.
Sources: Freddie Mac Primary Mortgage Market Survey; Tax Foundation — Property Taxes by State; Consumer Financial Protection Bureau.
Estimates for educational purposes only — not a loan offer, financial advice, or a commitment to lend. Actual rates, payments, and terms vary by lender and creditworthiness.