California variant. This is a California-specific version of the Mortgage Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Mortgage Calculator.
With a median home value of $760,000 and an effective property tax rate of 0.71%, a typical California mortgage payment combines principal, interest, taxes, and insurance into a meaningfully different number than the sticker price suggests.
What drives a California mortgage payment
On the $760,000 median home with 20% down ($152,000), you'd finance about $608,000. At an illustrative 6.5% 30-year fixed rate, the principal-and-interest payment is roughly $3,843/month.
California's 0.71% effective property tax adds about $450/month, and homeowners insurance plus any PMI push the all-in payment higher still. Enter your real price, rate, and down payment above for an exact figure.
About taxes and housing in California
California has the highest top marginal income tax rate in the nation, reaching 13.3% on the highest earners with an additional surcharge on income above $1 million.
California's Proposition 13 caps annual increases in a property's assessed value at 2%, which keeps long-term owners' tax bills well below current market value.
California has the largest state economy in the U.S., powered by technology, entertainment, and agriculture, but also one of the highest costs of living.
Worked example: $760,000 home in California
Price $760,000, 20% down ($152,000), loan $608,000 at 6.5% for 30 years → P&I ≈ $3,843/mo. Add property tax ≈ $450/mo (0.71% of value ÷ 12). Total before insurance ≈ $4,293/mo.
Quick reference
- State income tax: 1-13.3% (highest in US), additional 1% mental health tax over $1M
- State sales tax: 7.25% (plus 1.31% avg local)
- Median home value: $760,000
- Median household income: $95,521
- Effective property tax rate: 0.71%
- Avg auto insurance: $2,291/yr
Frequently Asked Questions
How much is a mortgage on a $760,000 California home?
With 20% down at 6.5% over 30 years, principal and interest run about $3,843/month, before California's 0.71% property tax and insurance.
What is the property tax rate in California?
California's effective property tax rate is about 0.71% of home value per year.