CostOfLivingByState

Free calculator | Updated October 2026

Mortgage Calculator: Your Real Monthly Payment, State by State

Your full monthly payment with your state’s own property tax and homeowners insurance already filled in, this week’s national rate, PMI and extra payments. Switch tabs to see how much house you can afford, and where.

$

Fills in its property tax and insurance

$

20.0% of the price

%

US 30-year average 7.4%, October 15, 2026 (Freddie Mac)

Property tax, insurance, HOA, PMI and extra payments
%

Texas average 1.6% a year

$

Texas average, NAIC 2023

$

Per month

%

Yearly, % of the loan, only under 20% down

$

Toward principal, per month

Monthly payment

Your payment is about $2,816 a month on a $375,000 home in Texas.
Principal and interest ($300,000 loan)$2,077.14
Property tax (1.6%)$500.00
Home insurance$238.67
Total monthly$2,815.81
Total interest
$447,770
Paid off in
30 yr

Rate: Freddie Mac Primary Mortgage Market Survey, week of October 15, 2026. Property tax: effective rate on owner-occupied homes by state (Tax Foundation). Insurance: average HO-3 homeowners premium by state, NAIC report on 2023 premiums (published July 2026); current quotes run higher in many states. Typical home: Census ACS median value. Affordability uses the 28/36 rule; lenders also weigh credit score and reserves.

Why most mortgage calculators understate the payment

The figure most people quote is principal and interest alone. Property tax and insurance can add a third again: on a $375,000 home in Texas, tax at 1.6% and an average premium of about $2,900 add roughly $740 a month. Most calculators fill those lines with one national guess. This one uses each state’s effective property tax rate and the average homeowners premium in that state from the insurance regulators’ association (NAIC), so the payment you see is the one you would actually budget for.

How much house can you afford, and where

The affordability tab turns income, debts and savings into a price, then asks a question other calculators skip: where does that budget buy a typical home? Because tax and insurance scale with the house, the same household can afford a noticeably dearer home in a low-tax state. For the rest of the cost of living in each state, see the state rankings and the housing costs by state.

Sources

Rates: Freddie Mac Primary Mortgage Market Survey, updated weekly. Property tax: effective tax on owner-occupied homes by state (Tax Foundation). Insurance: NAIC homeowners report, average HO-3 premium by state for 2023, published July 2026; premiums have risen since in most states, so treat it as a floor and use a real quote when you have one. Typical home values: Census American Community Survey.

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Frequently Asked

Mortgage Calculator: questions answered

What is included in a mortgage payment?
Four things, often called PITI: principal (paying down the loan), interest, property tax and homeowners insurance, which lenders usually collect monthly into escrow. Add PMI if you put down less than 20% on a conventional loan, and HOA dues if the home has them. The calculator shows each line, using your state's average property tax rate and homeowners premium unless you enter your own.
How much house can I afford?
Lenders commonly use the 28/36 rule: housing costs (principal, interest, tax, insurance, HOA) up to 28% of your gross monthly income, and housing plus all other debt payments up to 36%. Many will approve up to 43% total. The 'How much can I afford?' tab works the rule backwards to a home price, then runs the same budget in every state, because property tax and insurance change what a budget buys.
Why does my state change the answer so much?
Property tax ranges from about 0.3% of a home's value a year in Hawaii to 2.2% in New Jersey, and the average homeowners premium from $923 in Wisconsin to $3,027 in Louisiana (NAIC). On a $400,000 home that is a difference of several hundred dollars a month, which is why the same income buys a far more expensive home in West Virginia than in New Jersey.
What interest rate does the calculator use?
It starts at Freddie Mac's weekly national average for a 30-year fixed mortgage, 7.4% for the week of October 15, 2026. Your own rate depends on credit score, down payment, loan type and points, so replace it with a quote when you have one. Lower rates make a large difference: each percentage point changes the payment on a $300,000 loan by roughly $200 a month.
When does PMI stop?
On a conventional loan, private mortgage insurance ends automatically when the balance is scheduled to reach 78% of the home's original value (the Homeowners Protection Act), and you can ask to cancel it at 80%. Extra principal payments get you there sooner. FHA loans work differently: their mortgage insurance often lasts the life of the loan.
Are extra payments worth it?
Every extra dollar goes straight to principal, so it saves the interest that dollar would have cost for the rest of the loan. On a 30-year loan at around 7%, $200 a month extra typically saves tens of thousands of dollars and takes years off the term; the calculator shows both. Compare that with what the same money would earn in savings or a 401(k) match first.

Reader questions

Something this site doesn't answer?

Write to us. A person reads every message and we answer the ones we can, with the source cited. If your question would help other readers, we may publish an anonymised version, and we ask you first. Price-level figures here are a general reference for comparing states, not financial or relocation advice, so check your own move with a certified financial planner.

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