Mortgage on a $450K house in Georgia
$2,937 a month with 20% down — $2,422 principal and interest plus $290 property tax and $225 insurance.
Georgia's typical property tax is 0.77% of the home's value a year (U.S. average 0.9%), which adds $290 a month on a $450K home. The typical home in Georgia is worth $329,115, so $450K is 37% above the typical price.
$450K home in Georgia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $90,000 | $360,000 | $2,422 | $0 | $515 | $2,937 | $125,900 |
| 10% down | $45,000 | $405,000 | $2,724 | $169 | $515 | $3,408 | $146,100 |
| 5% down | $22,500 | $427,500 | $2,876 | $178 | $515 | $3,569 | $153,000 |
| 3.5% down (FHA) | $15,750 | $441,849 | $2,972 | $199 | $515 | $3,686 | $158,000 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.77% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Georgia does $450K buy a typical home?
In these counties the typical home value is within 15% of $450K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Dawson County | $449,830 | 0.6% | $2,871 |
| Morgan County | $454,080 | 0.71% | $2,912 |
| Cherokee County | $469,096 | 0.69% | $2,904 |
| Cobb County | $421,940 | 0.67% | $2,897 |
| Fulton County | $414,221 | 0.88% | $2,976 |
| Putnam County | $412,044 | 0.68% | $2,902 |
| Gilmer County | $411,163 | 0.35% | $2,779 |
| Fayette County | $491,245 | 0.75% | $2,929 |
| Fannin County | $496,269 | 0.33% | $2,772 |
| Rabun County | $402,742 | 0.56% | $2,856 |
| Gwinnett County | $400,880 | 0.95% | $3,003 |
| Jackson County | $400,788 | 0.87% | $2,973 |
152 of 159 Georgia counties tracked by Zillow have a typical home value at or below $450K. See all Georgia home prices.
Other prices in Georgia
Frequently asked questions
What is the mortgage on a $450K house in Georgia?
About $2,937 a month with 20% down at 7.11%: $2,422 principal and interest, $290 property tax and $225 insurance.
How much do I need to make to buy a $450K house in Georgia?
About $125,900 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $450K house in Georgia?
At Georgia's typical effective rate of 0.77%, about $3,481 a year. Rates vary by county and city — see the county pages.