US Tools Calculator
State Mortgage Calculator
Estimate a mortgage payment using each state's typical property tax and insurance cost.
Estimated payment in Texas
$2,664.35
- Principal & interest
- $1,991.01
- Property tax (est.)
- $490.00
- Insurance (est.)
- $183.33
- Loan amount
- $315,000.00
How it works
Property tax and homeowners insurance are two of the biggest reasons the same size mortgage costs differently in different states. This calculator fills in each state's average effective property tax rate and average annual insurance premium automatically, so you can see a more realistic total monthly payment than principal and interest alone.
Property tax and insurance both vary further by county, city, home age, and coverage level — treat these as a starting estimate. For full manual control over every input, use the general Mortgage Calculator.
Formula
Loan amount = Home price − Down payment Monthly P&I = standard amortization formula Monthly tax = (Home price × State's avg property tax rate) ÷ 12 Total monthly payment = P&I + Monthly tax + (State's avg annual insurance ÷ 12)
Example
A $350,000 home in Texas with 10% down ($35,000): a $315,000 loan at 6.5% over 30 years costs about $1,991.01/month in principal and interest, plus Texas's relatively high property tax (≈$490.00/month) and insurance (≈$183.33/month) — a total of about $2,664.35/month.
Property tax & insurance by state
Data reflects 2024
| State | Avg. property tax rate | Avg. annual insurance |
|---|---|---|
| California | 0.75% | $1,600.00 |
| Texas | 1.68% | $2,200.00 |
| Florida | 0.86% | $3,200.00 |
| New York | 1.72% | $1,400.00 |
| New Jersey | 2.23% | $1,300.00 |
| Illinois | 2.11% | $1,500.00 |
| Pennsylvania | 1.53% | $1,300.00 |
| Ohio | 1.53% | $1,200.00 |
| Georgia | 0.87% | $1,900.00 |
| North Carolina | 0.78% | $1,700.00 |
Averages only — actual property tax and insurance costs vary by county, home age, and coverage level.
Frequently asked questions
Why is Texas's estimate so much higher in taxes than California's?
Texas has no state income tax, and makes up a meaningful part of the difference through above-average property taxes. California's Prop 13 keeps its average effective property tax rate comparatively low, even though home prices there are often much higher.
Does this include PMI?
No. Private mortgage insurance, typically required with less than 20% down, isn't modeled here — see the general Mortgage Calculator's FAQ for more detail.
Can I override the state's property tax rate?
Not on this page — it's designed to show a state-typical estimate automatically. Use the general Mortgage Calculator if you know your exact local property tax rate and insurance quote.
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