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A $400,000 home costs $2,661/month in principal and interest at 7%. But your real monthly payment ranges from $3,000 in Hawaii to $4,200 in New Jersey — because property taxes and insurance vary by $500-1,500/month depending on where you live. The mortgage calculator gives you P&I. The tables below give you the full state-by-state picture.
Base P&I payment: $2,129/month. Here is what taxes and insurance add:
| State | Property Tax Rate | Monthly Tax | Monthly Insurance | Total Monthly |
|---|---|---|---|---|
| Hawaii | 0.29% | $97 | $60 | ~$2,286 |
| Alabama | 0.37% | $123 | $155 | ~$2,407 |
| Colorado | 0.49% | $163 | $175 | ~$2,467 |
| Utah | 0.52% | $173 | $85 | ~$2,387 |
| California | 0.71% | $237 | $130 | ~$2,496 |
| Florida | 0.80% | $267 | $350 | ~$2,746 |
| Arizona | 0.60% | $200 | $135 | ~$2,464 |
| Georgia | 0.83% | $277 | $165 | ~$2,571 |
| Ohio | 1.53% | $510 | $85 | ~$2,724 |
| Michigan | 1.38% | $460 | $110 | ~$2,699 |
| Texas | 1.60% | $533 | $210 | ~$2,872 |
| New York | 1.62% | $540 | $140 | ~$2,809 |
| Pennsylvania | 1.49% | $497 | $95 | ~$2,721 |
| Illinois | 2.07% | $690 | $125 | ~$2,944 |
| Connecticut | 2.01% | $670 | $155 | ~$2,954 |
| New Jersey | 2.23% | $743 | $110 | ~$2,982 |
Insurance estimates are state averages for a $400K home. Actual rates depend on location, coverage, and claims history. Florida and Louisiana insurance is especially high due to hurricane risk.
Calculate your P&I payment, then add your state costs from the table.
Open Mortgage CalculatorThe gap between the cheapest and most expensive states for the same $400K home:
Where you buy matters as much as what you buy. A $400K home in New Jersey costs the same monthly as a $500K+ home in a low-tax state.
| State | Income Tax | Property Tax | Insurance | Net Savings? |
|---|---|---|---|---|
| Texas | ✓ None | ✗ 1.60% (high) | ~$210/mo | ~Wash — high property tax offsets no income tax |
| Florida | ✓ None | ~0.80% (moderate) | ✗ $350/mo (high) | ~Depends — insurance eats the savings |
| Nevada | ✓ None | ~0.53% (low) | ~$95/mo | ✓ Real savings for homeowners |
| Washington | ✓ None | ~0.87% (moderate) | ~$95/mo | ✓ Moderate — depends on home price |
| Tennessee | ✓ None | ~0.63% (low) | ~$155/mo | ✓ Real savings |
| Wyoming | ✓ None | ~0.55% (low) | ~$120/mo | ✓ Real savings (but low population) |
| New Hampshire | ✓ None | ✗ 1.93% (very high) | ~$95/mo | ✗ Property tax is brutal |
Start with P&I. Add your state costs. Know your true monthly payment.
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