Mortgage Calculator in California

Calculate your monthly mortgage payment in California using the 2026 median home price of $915K and current local rates. Adjust the inputs below. Formula shown, sources cited — no account required.

California's housing market is defined by scarcity and price. The median home price of $915,000 reflects sustained demand in coastal markets and a chronic shortage of new supply driven by zoning restrictions and construction costs. Property taxes average just 0.75% thanks to Proposition 13, which limits annual tax increases on existing properties — a major financial benefit for long-term owners but a barrier for buyers who inherit assessed values reset at today's prices. Closing costs average 1.1% of the purchase price, but on a $915,000 home that still means roughly $10,065 at signing. A 15% down payment requires $137,250 in cash upfront. The CalHFA MyHome Assistance program offers deferred-payment junior loans to help with down payments for income-eligible buyers. Use the mortgage calculator with California's property tax rate to see how Prop 13's low rate compares to other states' property tax burdens in your monthly total.

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California's median home price of $915K is among the highest in the US — your down payment requirement is substantial even at the minimum 3-5%.

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California Housing Market at a Glance (2026)

$915K

Median Home Price

6.35%

Avg Mortgage Rate

0.75%

Property Tax Rate

15%

Typical Down Payment

Buying a Home in California: Costs to Know

Average closing costs1.1% of purchase price

On a $915K home, closing costs â‰ˆ$10,065

Median household income$100,149/yr

State income tax (top rate)13.3%

First-Time Buyer Programs in California

California offers state-sponsored programs that can reduce your down payment or closing costs:

✓CalHFA MyHome Assistance
✓CHDAP

How to Finance a Home in High-Cost California

A standard mortgage payment in California is calculated using the amortization formula:M = P[r(1+r)^n] / [(1+r)^n - 1]

Where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. On a $915K home in California with a 15% down payment at 6.35% over 30 years, your principal and interest payment comes to approximately $4,839/month— not including property taxes or homeowner's insurance.

California's property tax rate of 0.75% adds roughly $572/month to your total housing cost on a $915K home. This rate is below the national average of ~1.1%, which helps keep total housing costs lower.

California vs. National Average

Metric	California	National Avg
Median Home Price	$915,000	$420,000
Property Tax Rate	0.75%	1.07%
Avg Mortgage Rate	6.35%	6.85%
Cost of Living Index	143.1	100

Questions You Might Ask — Mortgage Calculator in California

What is the average mortgage payment in California?

Based on the median home price of $915K in California with a 15% down payment and 6.35% rate (30-year fixed), the estimated monthly principal and interest payment is approximately $4,839. Adding property taxes (~$572/mo) and homeowner's insurance, total PITI is typically $5,561–$5,661/month.

What is the property tax rate in California?

California has an average effective property tax rate of 0.75%. On the median home price of $915K, that equals roughly $6,863 per year — or $572 added to your monthly mortgage payment. This is below the national average of ~1.1%, which helps lower total housing costs in California.

How much down payment do I need to buy a home in California?

The typical down payment in California is 15% — about $137,250 on the median $915K home. Conventional loans require as little as 3% down; FHA loans allow 3.5%. First-time buyers may also qualify for assistance through programs like CalHFA MyHome Assistance.

What are closing costs in California?

Average closing costs in California are approximately 1.1% of the purchase price — about $10,065 on the median $915K home. Closing costs include lender origination fees, title insurance, escrow, prepaid interest, and government recording fees.

What income do I need to afford the median home in California?

To afford the $915K median home in California under the 28% housing-cost rule, you need a gross monthly income of at least $19,861 — roughly $238K/year. The median household income in California is $100,149.

Data Sources & Methodology

State data sourced from the National Association of Realtors (median home prices), Tax Foundation (property tax rates, income tax), Freddie Mac PMMS (mortgage rates), ATTOM Data Solutions (closing costs), and U.S. Census Bureau ACS (household income). Last updated 2026.