Mortgage for Pennsylvania (2026)
Pennsylvania (PA) Key Facts
Median Home Price
$275,000
Average Property Tax Rate
1.58%
Average Home Insurance Rate
0.55%
Estimated Monthly Payment
$2,093
First Time Buyer Programs
2
How This Calculator Works in Pennsylvania
This mortgage calculator lets you estimate your monthly payment on a Pennsylvania home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with Pennsylvania'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.
Pennsylvania Overview
Pennsylvania has a median home price of approximately $270K, with an average property tax rate of 1.58% and homeowners insurance averaging 0.55% annually. Realty transfer tax of 2% (1% state + 1% local). PHFA Keystone Home Loan and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates.
How Pennsylvania Compares
Compared to neighboring states, Pennsylvania's median home price of $275,000 is below the national median of about $420,000. Nearby New York has a median price of $420,000 with a 1.72% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| New York | $420,000 | Median home price is $420,000 with a 1.72% property tax rate. Estimated monthly mortgage payment is about $3,246. |
| New Jersey | $470,000 | Median home price is $470,000 with a 2.49% property tax rate. Estimated monthly mortgage payment is about $3,934. |
| Ohio | $220,000 | Median home price is $220,000 with a 1.56% property tax rate. Estimated monthly mortgage payment is about $1,671. |
The median home price in Pennsylvania is $275,000, compared to the national median of approximately $420,000. With a 1.58% average property tax rate and 0.55% insurance rate, Pennsylvania homeowners can expect an estimated monthly payment of about $2,093 on a median-priced home with 10% down at 6.75% interest.
Tips for Pennsylvania Residents
- 1Pennsylvania has a median home price around $270K. Realty transfer tax of 2% (1% state + 1% local). Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in Pennsylvania average 1.58%. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore PHFA Keystone Home Loan & HFA Preferred for potential down payment assistance and favorable rates. Pennsylvania also offers PHFA Keystone Advantage Assistance. Check income limits and eligibility early in your home search.
- 42% transfer tax split at closing; Philadelphia has additional local transfer tax of ~4%. Budget 2-5% of the purchase price for closing costs including lender fees, title insurance, and prepaid expenses.
- 5PHFA offers competitive rates and down payment assistance. A 0.25% rate difference on a $275K 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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