Mortgage Calculator New York City

Mortgage Calculator for New York City

The median asking price for homes listed in the New York-Newark-Jersey City metro area was $742,000 in September 2026, 2.3% lower than a year earlier ($759,500), according to Realtor.com data published through FRED. The 30-year fixed mortgage rate in Freddie Mac's weekly survey was 7.24% on 29 October 2026, so the calculator below starts with those two numbers.

Facts that change the answer

• Median listing price, New York-Newark-Jersey City metro area: $742,000 (September 2026)
• Median days on market: 56 (a year earlier: 58)
• 30-year fixed rate: 7.24%; 15-year fixed: 6.60% (Freddie Mac PMMS, 29 October 2026)
• Median household income, New York County (Manhattan): $105,713 (2024, US Census SAIPE), or $8,809 a month
• Median listing price each September: 2016 $450k, 2017 $505k, 2018 $559k, 2019 $583k, 2020 $649k, 2021 $618k, 2022 $670k, 2023 $725k, 2024 $772k, 2025 $760k, 2026 $742k
• Active listings: 38,158 in September 2026 vs 35,885 a year earlier; the median listing price peaked at $795,000 in 2025-05
• Property tax: New York City's rates are set by property class and applied to an assessed value that is usually far below market value, so the tax field is left at 0; enter your bill from NYC Finance

Worked example for New York City

A 20% down payment on $742,000 is $148,400, leaving a loan of $593,600. At 7.24% over 30 years the principal and interest payment is $4,045.37 a month. Over the full term you would pay $862,734 in interest. On a 15-year loan at 6.60% the payment rises to $5,203.58 but total interest falls to $343,045.

Against the New York County (Manhattan) median household income of $105,713, the 30-year principal and interest payment alone equals 46% of gross monthly income. Lenders commonly look for total housing costs near 28% of gross income, which at the 7.24% rate supports a loan of about $361,943 with nothing left for tax or insurance.

Each 0.5 point change in the rate moves the payment on a $593,600 loan by roughly $203 a month. Listing prices are asking prices, not sale prices, and condos, co-ops and houses are mixed together in the median, so use the price of the home you are actually looking at.

Sources: Realtor.com median listing price via FRED · Freddie Mac PMMS via FRED · US Census SAIPE via FRED. Checked 5 November 2026. For how the maths works, see the Mortgage Calculator guide.