Mortgage on a $550K house in California
$3,564 a month with 20% down — $2,960 principal and interest plus $329 property tax and $275 insurance.
California's typical property tax is 0.72% of the home's value a year (U.S. average 0.9%), which adds $329 a month on a $550K home. The typical home in California is worth $761,538, so $550K is 28% below the typical price.
$550K home in California: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $110,000 | $440,000 | $2,960 | $0 | $604 | $3,564 | $152,800 |
| 10% down | $55,000 | $495,000 | $3,330 | $206 | $604 | $4,140 | $177,400 |
| 5% down | $27,500 | $522,500 | $3,515 | $218 | $604 | $4,337 | $185,900 |
| 3.5% down (FHA) | $19,250 | $540,038 | $3,633 | $243 | $604 | $4,480 | $192,000 |
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 $550K buy a typical home?
In these counties the typical home value is within 15% of $550K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| San Bernardino County | $548,565 | 0.7% | $3,556 |
| Solano County | $571,152 | 0.75% | $3,578 |
| Inyo County | $524,036 | 0.74% | $3,573 |
| Sacramento County | $521,128 | 0.73% | $3,571 |
| San Joaquin County | $519,776 | 0.75% | $3,577 |
| Alpine County | $508,465 | 0.77% | $3,587 |
| Riverside County | $602,790 | 0.78% | $3,592 |
| Nevada County | $610,265 | 0.75% | $3,581 |
| Yolo County | $612,563 | 0.77% | $3,586 |
| Mendocino County | $480,674 | 0.69% | $3,552 |
34 of 58 California counties tracked by Zillow have a typical home value at or below $550K. See all California home prices.
Other prices in California
Frequently asked questions
What is the mortgage on a $550K house in California?
About $3,564 a month with 20% down at 7.11%: $2,960 principal and interest, $329 property tax and $275 insurance.
How much do I need to make to buy a $550K house in California?
About $152,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $550K house in California?
At California's typical effective rate of 0.72%, about $3,951 a year. Rates vary by county and city — see the county pages.