Mortgage for District of Columbia (2026)
District of Columbia (DC) Key Facts
Median Home Price
$640,000
Average Property Tax Rate
0.56%
Average Home Insurance Rate
0.4%
Estimated Monthly Payment
$4,248
First Time Buyer Programs
2
How This Calculator Works in District of Columbia
This mortgage calculator lets you estimate your monthly payment on a District of Columbia home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with District of Columbia's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
District of Columbia Overview
District of Columbia has a median home price of approximately $620K, with an average property tax rate of 0.56% and homeowners insurance averaging 0.4% annually. Transfer tax of 1.1-1.45%. DC Open Doors and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates.
How District of Columbia Compares
Compared to neighboring states, District of Columbia's median home price of $640,000 is above the national median of about $420,000. Nearby Maryland has a median price of $400,000 with a 1.07% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| Maryland | $400,000 | Median home price is $400,000 with a 1.07% property tax rate. Estimated monthly mortgage payment is about $2,875. |
| Virginia | $380,000 | Median home price is $380,000 with a 0.82% property tax rate. Estimated monthly mortgage payment is about $2,636. |
| Pennsylvania | $275,000 | Median home price is $275,000 with a 1.58% property tax rate. Estimated monthly mortgage payment is about $2,093. |
The median home price in District of Columbia is $640,000, compared to the national median of approximately $420,000. With a 0.56% average property tax rate and 0.4% insurance rate, District of Columbia homeowners can expect an estimated monthly payment of about $4,248 on a median-priced home with 10% down at 6.75% interest.
Tips for District of Columbia Residents
- 1District of Columbia has a median home price around $620K. Transfer tax of 1.1-1.45%. Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in District of Columbia average 0.56%. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore DC Open Doors & HPAP programs for potential down payment assistance and favorable rates. District of Columbia also offers Home Purchase Assistance Program (HPAP). Check income limits and eligibility early in your home search.
- 4High median price; condo fees common; HPAP is among most generous programs nationally. Budget 2-5% of the purchase price for closing costs including lender fees, title insurance, and prepaid expenses.
- 5Condo market dominant. A 0.25% rate difference on a $640K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
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