Mortgage on a $450K house in New York
$3,181 a month with 20% down — $2,422 principal and interest plus $534 property tax and $225 insurance.
New York's typical property tax is 1.42% of the home's value a year (U.S. average 0.9%), which adds $534 a month on a $450K home. The typical home in New York is worth $524,942, so $450K is 14% below the typical price.
$450K home in New York: 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 | $759 | $3,181 | $136,300 |
| 10% down | $45,000 | $405,000 | $2,724 | $169 | $759 | $3,652 | $156,500 |
| 5% down | $22,500 | $427,500 | $2,876 | $178 | $759 | $3,813 | $163,400 |
| 3.5% down (FHA) | $15,750 | $441,849 | $2,972 | $199 | $759 | $3,930 | $168,400 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.42% 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 New York 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 |
|---|---|---|---|
| Ulster County | $451,636 | 1.77% | $3,310 |
| Orange County | $467,501 | 2.19% | $3,468 |
| Saratoga County | $468,194 | 1.4% | $3,171 |
| Columbia County | $489,917 | 1.4% | $3,171 |
| Bronx County | $503,721 | 1.03% | $3,033 |
| Dutchess County | $504,887 | 1.89% | $3,355 |
47 of 62 New York counties tracked by Zillow have a typical home value at or below $450K. See all New York home prices.
Other prices in New York
Frequently asked questions
What is the mortgage on a $450K house in New York?
About $3,181 a month with 20% down at 7.11%: $2,422 principal and interest, $534 property tax and $225 insurance.
How much do I need to make to buy a $450K house in New York?
About $136,300 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $450K house in New York?
At New York's typical effective rate of 1.42%, about $6,408 a year. Rates vary by county and city — see the county pages.