Median home price*
$852,000
California Mortgage Calculator
Calculate a mortgage payment in California with California's real property tax rate and typical insurance costs built in — not a generic national guess. Pre-filled below with the state's approximate median home price.
California snapshot
Effective property tax
0.71%
Est. tax on median home
$6,049/yr
Typical insurance
$2,100/yr
*Approximate 2025 averages for planning; actual prices, taxes and premiums vary by city, property and insurer.
The median California home, priced out
Buy the approximate median California home at $852,000 with 20% down ($170,400) and a 6.5% 30-year fixed rate: the loan is $681,600, principal and interest are $4,308.18 a month, property taxes add about $504.10, and insurance about $175.00 — a full PITI payment near $4,987.28. Over 30 years the interest alone totals roughly $869,343.
Property taxes in California
Proposition 13 caps California property tax at about 1% of purchase price with assessed growth limited to 2% a year — long-time owners often pay far less than new buyers next door. Because lenders escrow taxes monthly, the tax rate is a payment issue, not just a closing issue: in high-tax states it can add the equivalent of $50,000+ of loan to your monthly outgo. Always verify the specific property's actual tax bill with the county assessor, and file every exemption you qualify for (homestead, senior, veteran or disability) right after closing.
Buying in California: three moves that matter
- Price the specific town, not the state. Tax rates are set locally in most states — two homes at the same price can differ by thousands a year. Enter the exact tax figure in the calculator above.
- Check state assistance. California's housing finance agency and national programs (FHA 3.5% down, VA/USDA zero down) can cut your cash-to-close dramatically. Start with the affordability calculator and the down payment guide.
- Watch the insurance line. Premiums are the fastest-moving cost in coastal and storm-exposed areas — get real quotes before your offer, not after.
Your next steps
Frequently asked questions
How much is a monthly mortgage payment in California?
On the approximate median-priced California home of $852,000 with 20% down at 6.5% for 30 years, principal and interest are about $4,308.18; adding average property taxes ($6,049 a year) and insurance ($2,100 a year) brings the full payment to roughly $4,987.28 a month.
What is the property tax rate in California?
California's effective property tax rate averages about 0.71% of a home's value per year — roughly $6,049 annually on a $852,000 home. Actual bills depend on the county, town and school district, and exemptions can reduce them.
How much do I need to earn to buy a median home in California?
Using the 28% housing-ratio guideline on a payment of about $4,987.28, gross income of roughly $213,740 a year — before accounting for other debts. The affordability calculator gives a personal figure with your real debts and down payment.
Are there first-time buyer programs in California?
Yes — California has a state housing finance agency offering down-payment assistance, below-market rates or tax credits to eligible buyers, alongside national FHA, VA and USDA programs. Check the agency's current income and price limits before assuming you do not qualify.