Mortgage on a $800K house in New York
$5,655 a month with 20% down — $4,305 principal and interest plus $949 property tax and $400 insurance.
New York's typical property tax is 1.42% of the home's value a year (U.S. average 0.9%), which adds $949 a month on a $800K home. The typical home in New York is worth $524,942, so $800K is 52% above the typical price.
$800K 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 | $160,000 | $640,000 | $4,305 | $0 | $1,349 | $5,655 | $242,300 |
| 10% down | $80,000 | $720,000 | $4,843 | $300 | $1,349 | $6,493 | $278,300 |
| 5% down | $40,000 | $760,000 | $5,113 | $317 | $1,349 | $6,779 | $290,500 |
| 3.5% down (FHA) | $28,000 | $785,510 | $5,284 | $354 | $1,349 | $6,987 | $299,500 |
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 $800K buy a typical home?
In these counties the typical home value is within 15% of $800K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Rockland County | $758,178 | 1.68% | $5,822 |
| Nassau County | $851,504 | 1.46% | $5,679 |
| Queens County | $745,223 | 0.87% | $5,285 |
| Suffolk County | $729,701 | 1.73% | $5,858 |
| Richmond County | $724,119 | 0.92% | $5,322 |
| Westchester County | $877,732 | 1.51% | $5,711 |
58 of 62 New York counties tracked by Zillow have a typical home value at or below $800K. See all New York home prices.
Other prices in New York
Frequently asked questions
What is the mortgage on a $800K house in New York?
About $5,655 a month with 20% down at 7.11%: $4,305 principal and interest, $949 property tax and $400 insurance.
How much do I need to make to buy a $800K house in New York?
About $242,300 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $800K house in New York?
At New York's typical effective rate of 1.42%, about $11,393 a year. Rates vary by county and city — see the county pages.