New York Mortgage Calculator
Calculate your monthly mortgage payment in New York. Pre-filled with New York's average property tax rate of 1.46%. See principal, interest, PMI, property taxes, and insurance.
$70,000
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Loan Summary
See how this mortgage fits your financial plan
Your estimated payment is $2,296/month. See how it fits alongside your income, savings, investments, and other expenses over time.
Try the Full SimulatorNew York Housing Overview
New York has an average property tax rate of 1.46%. New York's cost of living is about 23% above the national average, with NYC being 87% or more above average.
Buying a Home in New York
If you're considering buying a home in New York, 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 New York's average property tax rate of 1.46% to give you a more accurate estimate.
New York Property Taxes
New York has an average effective property tax rate of 1.46%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 1.46% rate means approximately $5110 per year, or $426 per month in property taxes alone.
Cost of Living in New York
New York's cost of living is about 23% above the national average, with NYC being 87% or more above average. When evaluating whether to buy a home in New York, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.
Financial Tips for New York Homebuyers
- New York City residents face a combined state+city tax rate of up to ~14.8% — the highest in the nation
- If you live outside NYC, your effective rate is significantly lower — consider suburban locations
- New York SDI payroll tax adds to your paycheck deductions
- Maximize 401(k) and other pre-tax deductions to reduce your substantial state tax burden
- New York does not tax Social Security benefits
Key New York Features
- Progressive rates up to 10.9%
- NYC city income tax (3.078-3.876%)
- SDI payroll tax
- No tax on Social Security
- Highest-paying job market in the US
See How Your New York Mortgage Fits Your Financial Plan
This calculator shows your New York mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.
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