The Monthly Cost of a $400,000 Home in Every US State

We ran the mortgage calculator once for each state with the same purchase:

• A $400,000 home with 10% down ($40,000), so a $360,000 loan
• A 30-year fixed rate at 6.5%, the calculator's default
• Homeowners insurance of $1,500 a year, the calculator's default
• PMI at 0.5% of the loan a year, the calculator's default, charged until the balance falls to 80 percent of the price
• No HOA dues and no extra principal

The one thing we changed by state is the property tax rate. We set it to each state's average effective rate from our property tax engine, which comes from what homeowners actually paid in the Census Bureau's 2024 American Community Survey.

Here's the honest limit: our engine doesn't have state-by-state homeowners insurance data, so insurance is the same $125.00 a month everywhere. In reality premiums differ a lot, and in places with high storm, wildfire or hail risk they can run far above the default. Put a real quote into the calculator before you rely on any figure here.

The figures also leave out HOA dues, closing costs, and any homestead exemption that would lower your tax.

Click any column heading to sort. Principal and interest, insurance and PMI are identical across the rows by design, so the property tax column explains every difference in the total.

Before property tax, the payment is the same in every state: $2,275.44 of principal and interest, $125.00 of insurance and $150.00 of PMI, which adds up to $2,550.44 a month.

Principal and interest is the big piece. Even in Illinois, the most expensive state, it's 71.3% of the total. Over the full 30 years you'd pay $459,164 in interest on the $360,000 loan if you never paid ahead.

PMI is the price of putting down less than 20 percent. At the default rate it costs $150.00 a month and lasts for 94 payments, about 7.8 years, before the loan balance is paid down far enough for it to stop. That's $14,100 in total. A bigger down payment, or a lower PMI rate from a stronger credit score, cuts that number.

In Illinois the property tax rate is 1.92%, which adds $640.00 a month to the payment, about 20.1% of the total. In Hawaii the rate is 0.27% and the tax is $90.00 a month.

7 states push the payment on this home above three thousand dollars a month. On the other side, the average across all 50 states is $2,846.37, which matches what the mortgage calculator shows by default, since its default tax rate of 0.89% is the average of the state rates.

A few states people often ask about:

• Texas: $2,987.11 a month, with $436.67 of it property tax. No state income tax, but a high property tax rate.
• Florida: $2,800.44 a month at the state's average rate. Insurance is the big unknown here, so price a policy before you budget.
• California: $2,787.11 a month. A new buyer is taxed on the purchase price, so the statewide average may understate a recent buyer's bill.

If the tax rate and home value stayed where they are, the gap between the highest and lowest state would add up to $198,000 over a 30-year loan. Real bills change as homes are reassessed, so treat that as a sense of scale rather than a forecast.

Open the mortgage calculator, enter your price and down payment, and replace the default tax rate with your county's rate if you know it. The property tax calculator will give you your state's average rate and the yearly bill. Then add a real insurance quote and any HOA dues.

If you're working backward from income, the house affordability calculator shows the price a lender is likely to approve. State pages such as the Texas mortgage calculator and the Florida mortgage calculator add notes on local rules.