CALCMONEY // MORTGAGE // PA // PHILADELPHIA
Calculate your monthly mortgage payment using Philadelphia-specific property tax rates and local market data.
$265,000
6.95%
1.3%
104
| Principal & Interest | $1,403 |
| Property Tax | $287 |
| Homeowners Insurance (est.) | $88 |
| Total Monthly Payment (PITI) | $1,779 |
$53,000
$293,199
$76,232/yr
Home prices in Philadelphia run 37% below the national median: $265,000 versus $420,000. Relative to the $55,000 median household income here, the price-to-income ratio comes out to 4.8x.
Factor in $287/month for property tax in Philadelphia, based on the area's 1.3% effective rate applied to the median home price. That's $3,445 annually.
Unlike the nine no-income-tax states, Pennsylvania taxes wage income. Worth running your actual take-home pay against the $1,779/month payment here before locking in a target price.
Day-to-day expenses in Philadelphia track at 104 against the national 100 baseline, above average once you look past the mortgage payment itself.
Philadelphia's median home price runs 23% higher than nearby Pittsburgh: $215,000 there versus $265,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $212,000 loan saves $9,540 in interest over 30 years.
Compare Top Philadelphia Mortgage Lenders