Typical Pennsylvania mortgage payment
The median home price in Pennsylvania is roughly $270,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $2,135 | $1,449 |
| 5.50% | $2,206 | $1,533 |
| 6.00% | $2,278 | $1,619 |
| 6.50% | $2,352 | $1,707 |
| 7.00% | $2,427 | $1,796 |
| 7.50% | $2,503 | $1,888 |
| 8.00% | $2,580 | $1,981 |
| 8.50% | $2,659 | $2,076 |
| 9.00% | $2,739 | $2,172 |
| 9.50% | $2,819 | $2,270 |
| 10.00% | $2,901 | $2,369 |
What a Pennsylvania mortgage really costs (PITI)
Principal & interest alone would run about $1,707/month at 6.50% over 30 years. But Pennsylvania's property tax - roughly 1.58% of home value per year here - adds about $356/month, and estimated homeowners insurance adds around $79/month. Your real total monthly payment (PITI) on a $270,000 Pennsylvania home is closer to $2,141/month.
Using the standard 28%-of-income guideline, comfortably affording this home takes a household income around $91,750/year. A 20% down payment here is $54,000.
Pennsylvania vs. its neighbors
Of Pennsylvania and its neighbors, West Virginia has the lowest estimated total monthly payment - about $970 less per month than Pennsylvania.
| State | Median price | Property tax rate | Est. total monthly (PITI) |
|---|---|---|---|
| West Virginia | $165,000 | 0.58% | $1,171/mo |
| Ohio | $230,000 | 1.59% | $1,826/mo |
| Pennsylvania (this page) | $270,000 | 1.58% | $2,141/mo |
| Delaware | $360,000 | 0.58% | $2,554/mo |
| Maryland | $420,000 | 1.09% | $3,159/mo |
| New York | $460,000 | 1.72% | $3,701/mo |
| New Jersey | $500,000 | 2.49% | $4,344/mo |
What affects your Pennsylvania payment?
- Property tax above is a statewide estimate - your county's actual rate may differ.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price, property tax rate and insurance are approximate estimates, not county-specific figures. Not financial advice.