Mortgage on a $500K house in Georgia
$3,263 a month with 20% down — $2,691 principal and interest plus $322 property tax and $250 insurance.
Georgia's typical property tax is 0.77% of the home's value a year (U.S. average 0.9%), which adds $322 a month on a $500K home. The typical home in Georgia is worth $329,115, so $500K is 52% above the typical price.
$500K home in Georgia: 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 | $572 | $3,263 | $139,800 |
| 10% down | $50,000 | $450,000 | $3,027 | $188 | $572 | $3,787 | $162,300 |
| 5% down | $25,000 | $475,000 | $3,195 | $198 | $572 | $3,966 | $170,000 |
| 3.5% down (FHA) | $17,500 | $490,944 | $3,303 | $221 | $572 | $4,096 | $175,500 |
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 $500K buy a typical home?
In these counties the typical home value is within 15% of $500K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Fannin County | $496,269 | 0.33% | $3,080 |
| Fayette County | $491,245 | 0.75% | $3,254 |
| Cherokee County | $469,096 | 0.69% | $3,227 |
| Morgan County | $454,080 | 0.71% | $3,236 |
| Dawson County | $449,830 | 0.6% | $3,190 |
| Oconee County | $555,351 | 0.7% | $3,232 |
156 of 159 Georgia counties tracked by Zillow have a typical home value at or below $500K. See all Georgia home prices.
Other prices in Georgia
Frequently asked questions
What is the mortgage on a $500K house in Georgia?
About $3,263 a month with 20% down at 7.11%: $2,691 principal and interest, $322 property tax and $250 insurance.
How much do I need to make to buy a $500K house in Georgia?
About $139,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $500K house in Georgia?
At Georgia's typical effective rate of 0.77%, about $3,867 a year. Rates vary by county and city — see the county pages.