Mortgage on a $500K house in California
$3,240 a month with 20% down — $2,691 principal and interest plus $299 property tax and $250 insurance.
California's typical property tax is 0.72% of the home's value a year (U.S. average 0.9%), which adds $299 a month on a $500K home. The typical home in California is worth $761,538, so $500K is 34% below the typical price.
$500K home in California: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $100,000 | $400,000 | $2,691 | $0 | $549 | $3,240 | $138,900 |
| 10% down | $50,000 | $450,000 | $3,027 | $188 | $549 | $3,764 | $161,300 |
| 5% down | $25,000 | $475,000 | $3,195 | $198 | $549 | $3,943 | $169,000 |
| 3.5% down (FHA) | $17,500 | $490,944 | $3,303 | $221 | $549 | $4,073 | $174,600 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.72% 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 California does $500K buy a typical home?
In these counties the typical home value is within 15% of $500K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Alpine County | $508,465 | 0.77% | $3,261 |
| Mendocino County | $480,674 | 0.69% | $3,229 |
| San Joaquin County | $519,776 | 0.75% | $3,252 |
| Sacramento County | $521,128 | 0.73% | $3,247 |
| Inyo County | $524,036 | 0.74% | $3,249 |
| Stanislaus County | $461,114 | 0.71% | $3,239 |
| San Bernardino County | $548,565 | 0.7% | $3,233 |
| Sutter County | $432,267 | 0.75% | $3,255 |
| Calaveras County | $429,409 | 0.73% | $3,243 |
| Solano County | $571,152 | 0.75% | $3,253 |
29 of 58 California counties tracked by Zillow have a typical home value at or below $500K. See all California home prices.
Other prices in California
Frequently asked questions
What is the mortgage on a $500K house in California?
About $3,240 a month with 20% down at 7.11%: $2,691 principal and interest, $299 property tax and $250 insurance.
How much do I need to make to buy a $500K house in California?
About $138,900 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $500K house in California?
At California's typical effective rate of 0.72%, about $3,592 a year. Rates vary by county and city — see the county pages.