Georgia Mortgage Calculator

Calculate your monthly mortgage payment in Georgia. Pre-filled with Georgia's average property tax rate of 0.92%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$268
Homeowner's Insurance
$100
Total Monthly Payment
$2,138

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,138/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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Georgia Housing Overview

Georgia has an average property tax rate of 0.92%. Georgia's cost of living is about 7% below the national average, with Atlanta being near the average.

Property Tax: 0.92%Flat 5.49% rate (recently simplified)Growing tech and film industries in AtlantaRetirement income exemptions for 62+

Buying a Home in Georgia

If you're considering buying a home in Georgia, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills Georgia's average property tax rate of 0.92% to give you a more accurate estimate.

Georgia Property Taxes

Georgia has an average effective property tax rate of 0.92%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 0.92% rate means approximately $3220 per year, or $268 per month in property taxes alone.

Cost of Living in Georgia

Georgia's cost of living is about 7% below the national average, with Atlanta being near the average. When evaluating whether to buy a home in Georgia, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for Georgia Homebuyers

  • Georgia's flat 5.49% rate simplifies tax planning compared to the old progressive system
  • Atlanta's booming job market in tech, film, and logistics offers competitive salaries
  • Georgia has moderate property taxes and a cost of living below the national average
  • Georgia taxes retirement income but offers exemptions for those 62 and older

Key Georgia Features

  • Flat 5.49% rate (recently simplified)
  • Growing tech and film industries in Atlanta
  • Retirement income exemptions for 62+

See How Your Georgia Mortgage Fits Your Financial Plan

This calculator shows your Georgia mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare Georgia Mortgage Costs with Other States

Florida0.89% property taxTennessee0.66% property taxNorth Carolina0.78% property taxCalifornia0.71% property taxNew York1.46% property taxTexas1.80% property tax

Frequently Asked Questions

What is the average property tax rate in Georgia?
The average effective property tax rate in Georgia is approximately 0.92%. This rate is applied to the assessed value of your property, which may differ from the market value depending on Georgia's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in Georgia?
Your mortgage payment in Georgia depends on the home price, your down payment, interest rate, and loan term. With Georgia's average property tax rate of 0.92%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is Georgia an affordable state to buy a home?
Georgia's cost of living is about 7% below the national average, with Atlanta being near the average. When evaluating affordability in Georgia, consider not just the home price but also property taxes (0.92% average), homeowner's insurance costs, and any HOA fees common in your area.
How do Georgia property taxes compare to other states?
Georgia's average property tax rate of 0.92% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in Georgia?
Most states, including Georgia, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with Georgia's housing authority and the FHA, VA, and USDA loan programs for additional options.

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